5 Best Wealth Management Services In Singapore (2024)

If you have a sizeable, six-digit amount in assets, which bank should you go with as you embark on your priority banking journey? 

Wealth preservation is as much a key focus as wealth accumulation.

Once you’ve reached this milestone of unlocking priority banking, the only way to go is up. With rising prices of goods and services, it helps you to do your homework to take advantage of attractive interest rates and make your cash work harder. 

All the banks in Singapore have their own version of wealth management services for the affluent. They can further divide the wealth management services based on the value of assets you have with the bank. 

For example, with DBS, you need at least S$350,000 to be a DBS Treasures client, S$1.5 million to be a DBS Treasures Private client and S$5 million or more to enjoy the services of DBS Private Bank. 

Having a dedicated relationship manager, wealth management solutions and insights from the banks’ investment experts are a given. To help you decide where to store (and grow) your wealth, here’s where these wealth management services offered by banks stand out. 

---

Ready to level up? Find out how you can make your money work harder and smarter for you. Enjoy your own dedicated relationship manager and privileged access to a whole suite of preferential rates with Priority Banking. Compare your options.

---

Citigold: Best for sign-up promotions and access to a dedicated wealth hub

Manage your wealth with a dedicated wealth manager as well as a goal-based wealth advisory tool — Citigold Total Wealth Advisor — that helps you plan, monitor and manage your portfolio.

With Citi Wealth Insights, you get to hear from experts on global investment trends and opportunities to grow and protect your wealth. 

As a Citigold client, you'll also get to enjoy exclusive access to the beautiful Citi Wealth Hub located in Orchard and bespoke events created specially for Citigold clients. You can also pamper yourself with the various lifestyle privileges available for Citigold clients. 

If you’re using a Citi Wealth First account, you can receive preferential rates of up to 7.51% p.a. on up to your first S$250,000! If you’re keen to learn more about Citigold, here are the perks of privilege banking with Citibank in this article. 

HSBC Premier: Best for global remittance and HSBC FinFit

A bank with global presence, you can find HSBC branches in numerous countries globally. Global citizens can remit money for $0 with HSBC’s Worldwide Transfer online. HSBC encourages you to invest with a 0% sales charge that you’ll enjoy when investing in its Regular Savings Plan, and a 1% sales charge on lump sum investments in unit trusts. 

If you’re using HSBC’s Everyday Global Account (EGA), you enjoy an interest rate of up to 4.60% p.a. Plus, new HSBC Premier members can also receive up to S$28,708 in welcome rewards. 

You can also check on your financial fitness with HSBC FinFit. Book a FinFit coaching session with HSBC to improve your financial knowledge and habits, develop and fine-tune your financial planning strategy and explore the products or services you need. 

DBS Treasures: Best for their all-in-one app

As a DBS Treasures client, you get to use the exclusive iWealth app for all your needs. The iWealth app allows you to make trades effortlessly, see your entire portfolio and track your investments. You also receive personalised insights and advice, as well as the support of a Treasures relationship manager.

To help you make better investment decisions, you will receive insights from the Chief Investment Office that comes with a shortlist of investments that you can act on. If you require more support, there is also a team of experts available. 

Here’s one other perk that would suit those who frequently invest or spend abroad: iWealth looks out for currencies you use most often and sends you FX rate alerts so that you won't miss a good rate. Lastly, if you’re already a DBS/POSB user, the switch to the iWealth app will be comfortable, bearing many similarities with the current mass market ibanking apps.

OCBC Premier Banking: Best for in-person banking and sending money overseas

Say goodbye to long queues. As an OCBC Premier Banking client, you enjoy priority queues at selected OCBC Bank branches. You also gain access to OCBC Premier Banking Centres islandwide, all uniquely designed for a different and luxurious experience. 

In-person banking perks aside, OCBC Premier Banking has all other bases covered, from wealth management solutions (for your deposits, insurance, investments and financing) to exclusive cards to suit your lifestyle. You, too, will receive timely insights given by experts from the OCBC Wealth Panel.

Finally, OCBC Premier Banking clients enjoy preferential fees and charges for selected transactions. You can also send money overseas with $0 cable and commission fees for 18 currencies.

UOB Wealth Banking: Best for low minimum qualifying AUM and birthday privileges

If you’re looking for the fastest way to enjoy the perks privilege banking has to offer, UOB Wealth Banking has the lowest minimum qualifying AUM of $100,000. The perks include having a dedicated relationship manager, wealth advisory services, priority queues and preferential services at UOB branches islandwide.

As a UOB Wealth Banking client, you also receive invites to exciting events, seminars and workshops all year round. Besides having a carefully curated list of personalised offers, your birthday is made even more special with your UOB Wealth Banking eCard that gives you exclusive birthday deals. 

If you already bank with UOB, the transition to UOB Wealth Banking is seamless. You can still continue using the UOB Mighty app to manage your finances. 

Grow your wealth, beyond wealth management services

Wealth management services provide a variety of fringe benefits. Besides relying on these wealth management solutions, you can consider taking charge of your own investments and diversifying where your assets are held. One quick way is to create a portfolio with a robo-advisor of your choice, or to use your brokerage account to purchase stocks that you think will stand the test of time. 

With a priority banking account, you can also rely on a relationship manager (sometimes known as wealth manager) to support you as you amass your wealth in Singapore.

Read these next:
8 Ways To Accelerate Your Wealth In Singapore
Uniquely Singaporean Things We Do To Accumulate Wealth
Where To Donate And How To Help Charities During COVID-19
8 Investment Books to Read to Change Your Financial Life
Guide To Supplementary Retirement Scheme (SRS) And Tips To Maximise It