Singapore Payment Service Provider Licence - Digital Payment Tokens
How does consolidations or partnerships help EAMs?
Serving customers and getting licensed as an IAM requires many considerations around cost. Expenses like salaries, rent, tax, regulatory compliance, and execution facilities all become critical to the sustainability of the business.
Do consider a consolidation, partnership or joint venture of IAMs for example where cost centres are spread out across partners and business activities. In a recent routable held by CityWire, EAMs mentioned that the considerations around successful consolidations depends largely on AUM. Estimates to successfully run a business hover around a minimum of SGD 1 billion. Just having a good track record as a relationship or investment manager is no longer sufficient to keep the business going or a good justification around a lower share ratio of costs.
Meanwhile, EAMs have been seen using the cutting-edge technology to identify leads and create high conversion wealth customers, such as using digital marketing and online cookies as an alternative to spending resources on business development by the relationship managers alone.