Dollars and Sense
We speak to Dominic Gamble, CEO and co-founder of Find A Wealth Manager, an online marketplace for wealthy individuals and private banks, to find out the future trends for Asia’s wealth and how he copes with running a fast-growing business.
Why did you leave the financial industry to start a financial-tech business?
I used to work in the private banking industry myself, and I saw many new opportunities arising from the sector. It was only a matter of time before my day job could not hold down my ambition to have my own company, in essence, to break free and succeed. Making the jump to start a business in the industry that I knew so well was a natural step.
I founded Find A Wealth Manager in 2012 in the UK, and then moved to base its headquarters in Singapore in 2015.
What’s the biggest role that Find A Wealth Manager plays in Singapore?
Wealth management has all the hallmarks of an industry that’s ripe for revolutionising and at Find A Wealth Manager, we play a leading role in one of those areas, namely client acquisition.
How do you see the business of wealth changing over the next 10 years in Asia?
In a word — technology. The evolution of consumers’ appetites to engage with technology across all aspects of life is going to drive considerable change in the industry. Look out for new online wealth managers as well as traditional private banks increasing their digital presence in order to attract and retain clients.
Asia adopts technology the quickest compared to other continents, and its rate of growth of the wealthy is the highest in the world. There are more high-net-worth individuals in Asia than any other region globally. Wealth management plays an important role to service that wealth.
What’s one tip for HNWIs who’re juggling work, life and their wealth?
Delegate. Having managed the investments for some of the wealthiest families in Europe, Middle East and Asia, I am sensitive to the pain points of the wealthy. They are successful but very time poor. Delegation is key to a successful business and fulfilling private life, and even more so when it comes to wealth management. That’s often a cultural struggle for self-made succesful businessmen in Asia.
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