Family Offices in Singapore Seek Greater Independence from Private Banks

Singapore family office independence is becoming a growing priority as wealthy families increasingly source investments directly and engage independent advisers rather than relying exclusively on private banks.

Speaking at the inaugural AI & Family Office Summit organised by the Private Family Society, co-founder Anupum Khaitan argued that family offices can become overly dependent on relationship managers whose business models encourage transaction activity.

The trend reflects the increasing institutionalisation of Singapore’s family office sector, which included more than 2,000 tax-incentivised single-family offices at the end of 2025, according to the Monetary Authority of Singapore.

Industry executives nevertheless cautioned that direct investing should be supported by professional advice, particularly as family portfolios become larger and more complex.

Artificial intelligence is also attracting increasing attention. Citi Wealth’s 2026 report found that 80% of Asia-Pacific family offices identified AI as a primary area of interest for direct investment.