Collaboration to provide integrated solutions covering taxation, family offices, corporate structuring, and cross-border wealth management
Strengthens global wealth management network spanning North America and Asia
As Korean financial institutions accelerate efforts to expand into overseas wealth management markets, Hana Securities is strengthening its global wealth management (WM) capabilities through a strategic partnership with a leading Singapore-based advisory firm. The initiative aims to meet growing demand from high-net-worth individuals and corporate clients seeking comprehensive cross-border wealth management services that extend beyond investment products to include taxation, corporate structuring, and wealth transfer planning.
According to the financial industry on July 28, Hana Securities has signed a memorandum of understanding (MOU) with Singapore-based tax and accounting consultancy KSMC to enhance its global wealth management solutions. The agreement marks the first official partnership between KSMC and a Korean securities company.
KSMC is a Singapore-based wealth management consulting firm specializing in corporate incorporation, overseas investments, family office establishment, and international tax strategies. Leveraging its expertise in taxation and accounting, the firm provides comprehensive advisory services to corporations and high-net-worth individuals managing cross-border businesses and assets.
Under the partnership, the two companies will establish a collaborative framework that goes beyond traditional investment services to support clients' overall international wealth management needs. Key areas of cooperation include advisory services for establishing Singapore holding companies and corporate governance structures, family office formation and operations, and tax consulting related to overseas relocation and cross-border asset transfers.
Hana Securities plans to strengthen customized wealth management services for corporations expanding internationally and affluent clients with overseas assets by integrating financial, tax, legal, and accounting expertise. Working alongside local specialists in Singapore, the firm aims to help clients address complex tax and governance issues associated with establishing overseas entities and managing global assets.
The partnership also aligns with Hana Securities' broader strategy to expand its global wealth management network. After establishing partnerships in the United States and Japan, the company is now extending its presence to Singapore, further strengthening a global wealth management platform that connects North America and Asia.
Industry experts note that competition among Korean financial institutions to establish networks in Singapore is likely to intensify as the city-state continues to strengthen its position as Asia's leading financial hub and one of the world's premier destinations for family offices.
Demand for sophisticated cross-border wealth management services has been rising as Korean high-net-worth individuals increase investments in overseas real estate and financial assets while also showing greater interest in international relocation, inheritance and estate planning, wealth transfers, and corporate restructuring. As a result, traditional wealth management centered primarily on investment products is increasingly viewed as insufficient to meet evolving client needs.
Financial institutions are therefore expanding the scope of wealth management to encompass tax planning, inheritance, gifting, corporate structuring, and cross-border relocation services. Hana Securities' collaboration with KSMC reflects this broader industry trend toward providing integrated "total wealth management" solutions that combine financial and non-financial advisory services.
"Our partnership with KSMC significantly strengthens our global wealth management capabilities," said Kang Sung-mook, CEO of Hana Securities. "We will continue expanding comprehensive domestic and international wealth management solutions to provide differentiated global WM services tailored to our clients' evolving needs."
Building on the agreement, Hana Securities plans to further enhance its global wealth management offerings by leveraging KSMC's local expertise in Singapore while exploring additional partnership models that can better serve the growing international wealth management needs of Korean clients through an expanded global network.
