Prudential Singapore has launched the Prudential Wealth Suite (Wealth Suite) - an exclusive space for the life insurer's Private Client Advisors (PCAs) to serve their expanding pool of high net worth (HNW) customers who seek comprehensive wealth and financial planning services in Singapore.
The Wealth Suite is located within the insurer's main customer service centre at Prudential Tower in Raffles Place, and opened its doors on 17 March 2025.
Prudential's HNW business has grown in recent years, mirroring Singapore's rise in prominence as a leading international financial centre.
The company saw a 16% increase in its number of HNW customers from 2023 to 2024, driven by its financial representatives and advisors, and sales rose by over 40% within the same time period.
With the millionaire population in Asia projected to more than double from 10 million in 2022 to 22 million in 2030, Prudential anticipates leveraging this growth momentum to build on its HNW business.
Mr Goh Theng Kiat, Chief Customer Officer, Prudential Singapore, said, "The Prudential Wealth Suite is part of Prudential's strategy to support the continued growth of wealthy individuals in Singapore and the region, and it is designed to deliver seamless and convenient holistic advisory to our high-net-worth customers.
"In tandem with the region's growing pool of wealthy individuals who view Singapore as a global wealth hub, we anticipate that overseas customers will make up a significant portion of Prudential Wealth Suite users. These customers often have complex and globally connected portfolios, and appreciate Singapore's strategic location for accessing Asian markets and a climate of stability in the country, making it their preferred location for wealth diversification solutions."
The Wealth Suite offers a private, by-appointment-only environment where HNW customers can discuss their insurance and wealth management requirements with their PCA in comfort.
A special feature of the Wealth Suite is the presence of an in-house advisor who works together with PCAs to support HNW customers with more complex financial needs. Eligible HNW customers can additionally request to consult with an external panel of experts for tax and business advisory, legal and estate planning, fiduciary and trust services, family office advisory services as well as legacy giving.
"Tax planning is an integral part of financial planning for high-net-worth individuals with complex wealth structures and estate planning needs. Many of our wealthy customers seek ongoing guidance on tax-related matters to optimise their financial planning strategies. Another priority is growing and preserving their wealth, so we are focused on ensuring that we have the right advisors and solutions to meet their unique needs," said Mr Goh.