Citi Wealth research shows Singapore’s high net worth (HNW) clients now hold average assets of US$1.50 million, up 6% in a year.
More than half of those clients are comfortable exploring AI for investment insights, though staying in full control of their financial decisions ranks as the top consideration for adoption.
The study, titled “Singapore at Heart, Global in Possibilities”, was prepared with independent research firm RFI Global.
It compares Singapore with other leading global wealth markets, examines where AI can complement human advice, and looks at how families prepare for intergenerational wealth transfer.
HNW client assets were up from US$1.41 million in 2025. Average assets under management (AUM) for Affluent clients grew 5% to more than US$565,000 per financial institution, up from US$537,710.
Singapore draws wealth from across the region
Indonesia accounts for 41% of Singapore’s cross-border banking customers, followed by Malaysia at 36%, according to the study.
Citi said these regional inflows reinforce Singapore’s position as a wealth hub and booking centre for Affluent and HNW clients.
The bank has previously described Singapore as one of its four global wealth hubs, and opened two new wealth advisory centres in the city-state.
“Singapore’s appeal as an international wealth hub is supported by a stable operating environment and deep connectivity to global markets. As wealth becomes increasingly international, clients are looking for opportunities that extend beyond their home markets, while seeking trusted advice to help them navigate an increasingly complex investment landscape,”
said Yeo Wenxian, Asia South Head of Wealth at Citi and CEO of Citibank Singapore.
Mutual fund ownership nearly triples while cash dominates portfolios
Mutual fund ownership among Singapore HNW investors rose from 11% in 2022 to 31% in 2026, the highest adoption rate in Asia. Singapore is ahead of India (24%), South Korea (17%), Hong Kong SAR (16%) and Mainland China (7%).
According to the report, wealthy investors are turning to professional fund management to take emotion out of investment decisions and draw on the expertise of professional money managers.
Cash still makes up most portfolios, however. In Singapore, 72% of onshore Affluent assets and 74% of offshore booked assets sit in cash and liquid deposits, with only 26% to 28% allocated to investments.
Other Asian hubs show a similar pattern, with 76% of offshore assets in Hong Kong held in deposits. In the United States, by comparison, Affluent and HNW clients allocate 58% of their assets to long-term investments and hold 42% in deposits.
Citi said the high cash holdings reflect a preference for liquidity and capital preservation, and present an opportunity to diversify into longer-term investment solutions.
Investors favour a hybrid AI and human advisory model
Among Singapore HNW clients, 58% said they are comfortable exploring AI for personalised insights, as did 51% of Affluent clients. They mainly use it for product comparison and portfolio screening.
Remaining in full control of financial decisions is the top consideration for AI adoption, cited by 31% of respondents, followed by the option to consult a human adviser at 22%.
Relationship managers (RMs) have seen client advocacy strengthen. Their Net Promoter Score (NPS) in Singapore, a measure of how likely clients are to recommend them, rose from +19 in 2022 to +31 in 2026.
The study found that investors prefer a hybrid model, in which AI speeds up analytical and preparatory research while human advisers provide contextual judgement, emotional reassurance and strategic execution.
Singapore leads regional peers in succession planning
Around three in four Affluent Singaporeans have a will or wealth succession plan, or intend to set one up, ahead of regional peers in every age group.
The gap is widest among those aged 55 and over, where 76% in Singapore have one in place compared with 41% in Hong Kong.
Advice from a financial adviser and health concerns are the most common triggers for succession planning in Singapore, each cited by 41% of respondents. Retirement planning follows at 37%, then marriage or divorce at 18% and the birth of a child at 13%.
When structuring estates, Singaporeans rank protecting family assets as their top priority (51%), ahead of avoiding family disputes and ensuring fair distribution among heirs (both 45%).
“The future of wealth management will be defined by how effectively technology and human advice work together. While clients are increasingly open to using AI to explore ideas and evaluate options, trust remains central to the decision-making process,”
said Yeo.
Featured image credit: Edited by Fintech News Singapore, based on image by meshcube via Magnific
