in ,

DBS Launches MFO for Ultra Rich – What’s That?

DBS Launches Multi Family Office VCC for Ultra Rich
DBS Launches Multi Family Office VCC for Ultra Rich
  1. DBS launches world’s first bank-backed multi family office VCC.
  2. DBS MFO offers ultra-high net worth (UHNW) families an alternative for wealth management in Singapore.
  3. DBS MFO provides clients with a range of investment services and benefits.

Dude, did you hear about this mind-blowing thing called the Multi Family Office VCC (DBS MFO)?

It’s like when you’re buying bubble tea, and they give you so many options to choose from – same thing lah!

If not, let me share with you some interesting news.

DBS said that they’ve created the world’s first bank-backed multi family office that uses Singapore’s Variable Capital Company structure!

What’s this DBS MFO thingy?

So, remember when you wanted to store all your Pokemon cards in one binder, but you didn’t have one, so you borrowed that big folder from your brother?

DBS MFO is somewhat like that, minus the brother part.

It’s a place for ultra-high net worth (UHNW) families to put all their wealth together without having to start their own Single Family Office (SFO).

How does it work?

Imagine you have a big box of LEGOs, and inside it, you have smaller containers with different colors and shapes – that’s kinda how DBS MFO works!

It’s an umbrella VCC with sub-funds that let clients choose what they want their money to be invested in and who should manage it.

It’s like customising your own LEGO creation, but for super-rich people.

Benefits of investing in DBS MFO

So you’re telling me DBS MFO gives me benefits, like a free ice cream cone with my meal?

Yes, bro! DBS MFO has some cool perks, like having DBS managing your money professionally.

It’s easier cause everything is in one place and you even get tax exemptions on certain stuff.

And the best part is, you don’t need to set up your very own SFO, which might save you quite a bit of moolah.

Lee Woon Shiu, big boss of Wealth Planning, Family Office & Insurance Solutions at DBS Bank, said that the launch of DBS MFO is like reaching a new level in a game, and this will help even more families manage their wealth in Singapore.

Actionable and Practical Takeaways

  • Learn more about DBS MFO to see if it’s right for your family’s wealth management needs.
  • Consider the benefits of a multi family office VCC, like DBS MFO, when thinking about wealth consolidation.
  • Monitor how family offices evolve in Singapore and globally to stay ahead of the game.

In conclusion, bro, DBS MFO is like making a rainbow cake – you get to have all the colors and flavours you want but don’t need to bake each layer separately!

It’s a cool option for wealthy families to manage their dough, and with so many benefits, why wouldn’t you consider it?

So, what do you think about this Family Office VCC thing? Could it be a game-changer? Share your thoughts below, can?

What do you think?

Written by Patrick Tan

Meet Patrick, the word wizard of Daily.SG! He whips up news about Singapore that's so simple, even toddlers give him a thumbs up. When he's not writing, you'll find him sipping milk tea, gliding on skates, or striking a yoga pose. Dive into his stories and feel the sprinkle of fun and a whole lot of heart!

Leave a Reply

Your email address will not be published. Required fields are marked *