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Bernard Madoff would probably have not gotten this far if he had lived in Asia. According to a recent study by Forbes Insights, Asian Ultra High Net Worth Individuals (UHNWIs) dont entrust their money to one single private banker or investment scheme. Rather, they prefer to diversify by choosing conservative investments and committing their fortune to several private bankers or persons in a position of trust within their company.
Finance in particular is a business that is characterised by family involvement. 64% of UHNWIs involved in the finance business come from an influential family background. In Hong Kong, 75% of the surveyed fortunes of UHNWIs are family fortunes. With a growth of 23%, they performed much better than fortunes where families are not...
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