Financial Planning, “Jumbo” Life Insurance And More: In Conversation With Grandtag

We talk to a financial consultancy working in Asia with HNW and UHNW clients. In particular, the interview examines how forms of life insurance can offer liquidity solutions, and more.

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This news service’s group editor, Tom Burroughes, recently
interviewed Martin Wong, the regional CEO in Asia for Grandtag
Financial Consultancy, the Hong Kong headquartered Asia-based
consultancy. GFC serves high net worth and ultra-HNW clients in
the region. (The group CEO and founder is Jameson Leung.)

Wong, who is based in Singapore, has been at the
financial planning organisation since 2022. Prior to GFC, Wong
(main picture) was group chief business development officer at
Charles Monat Associates, he led Jardine Lloyd Thompson Private
Client Services as CEO, and worked at Merrill Lynch, among
other roles. 

GFC is a financial advisor and international broker; it works
with private banks, trustees, family offices and external asset
managers, providing liquidity and legacy planning solutions to
HNW and UHNW individuals and families. The firm has more than
50,000 clients worldwide, including Asia-Pacific markets such a
Brunei, China, India, Indonesia, Japan, Korea, Malaysia, the
Philippines, Singapore, Taiwan, and Thailand.

“Our business success combines the best of our open architecture
advisory platform with access to international expertise with
global insurers, wealth managers, and tax and legal advisors,” he
said. 

Besides its presence in two major Asian wealth centres
– Singapore and Hong Kong – it has set up its third office
in Malaysia, which was officially opened in November 2023.

Tom Burroughes: I saw that the firm is
marking its 25th anniversary this year. In your view, what
has been the largest change that has taken place in Grandtag”s
sector, and what core business has stayed the
same? 

Wong: Over the past 25 years, we have remained
true to our motto, “A Passion to Go Beyond,” emphasising our
commitment to providing exceptional service and helping high net
worth clients secure their legacies across generations.

What has changed is the overall awareness level of the critical
need to plan ahead in light of the Covid-19 pandemic that
affected every client segment, including the wealthy. The global
risk environment escalated significantly, and discerning clients
began adopting protective solutions to safeguard and mitigate
their families, businesses and portfolios.

In addition, we have transformed our wealth advisory approach by
adopting a high-tech, high-touch model. This modernises the
traditional face-to-face, relationship-driven model with digital
enhancements. Our clients now have 24/7/365 access through a
unified digital platform, improving both customer experience and
operational efficiency.

Social media is this generation’s lingua franca and more
so moving forward. “We are leveraging social media astutely and
creatively to remain relevant and connect with our clients.”

Burroughes: Let’s talk about “jumbo” insurance and what
it can be used for by HNW clients. Can you describe its value
proposition to clients in Asia and elsewhere, why do you think
this sort of product is in demand?

Wong: Jumbo life insurance offers powerful
wealth planning solutions for high net worth clients. Designed
for HNW and UHNW families, these life policies provide high
coverage levels and a cash value component that grows over time.
This combination offers flexibility, allowing policyholders to
access funds or to protect and grow their legacy with liquidity.

For clients with substantial businesses, jumbo life insurance
supports business continuity and family wealth preservation. The
cash value can provide liquidity for estate taxes, business
succession, or inheritance equalisation without liquidating core
assets.

The surge in demand for jumbo life insurance stems from Asian
entrepreneurs’ growing focus on succession planning and legacy
preservation. Economic uncertainty has heightened interest in
such solutions, while premium financing and premium-in-kind
payment options appeal to sophisticated clients seeking to
optimise their assets and wealth transfer solutions.
Additionally, it helps global families with cross-border
interests, addressing international tax requirements and
providing a tax-efficient means of wealth transfer.

For Grandtag, as a specialist partner to private banks, trustees,
family offices, and external asset managers, jumbo life insurance
is more than a product; it is a strategic tool integrated into
wealth preservation and transfer strategies for our most
sophisticated clients. Its substantial coverage aligns with the
wealth transfer needs of our ultra-high net worth clientele.

Burroughes: Can you elaborate on the consultative
work that Grandtag does with clients when considering such
policies?

Wong: We take a holistic approach to wealth planning,
consulting closely with our clients’ private bankers, trustees,
lawyers or tax advisors on using life insurance contracts to
strategically help clients achieve their goals while managing
risks. Our process starts with deep listening to understand each
client’s unique circumstances, goals, and concerns. 

A key element of our approach is our strong partnerships with a
diverse network of wealth experts. We work closely with these
partners to craft solutions that align with each client’s
tailored plan for themselves, their family, or their business
interests. Our solutions address critical areas such as wealth
transfer, liquidity planning, asset protection, tax optimisation,
and philanthropic giving.

Another key development is the growing emphasis on technology,
particularly among the younger generation of HNW and UHNW
clients. In today’s fast-paced financial markets, clients need
rapid access to information and decision-making tools. Modern
Asian clients expect real-time portfolio visibility and insights
via digital channels. Accredited investors also rely on
technology to evaluate investments, monitor performance, and
explore diversified strategies.

Burroughes: How many of your clients are internationally
mobile individuals with cross-border concerns and interests, and
does this raise particular challenges?

Wong: A significant portion of our clients are
internationally mobile individuals with families and business
interests across the Asia-Pacific region and globally. As a
result, their wealth portfolios have become increasingly complex,
spanning multiple jurisdictions, asset classes, and currencies.
This adds complexity to legacy planning, requiring our advisors
to develop comprehensive plans that consider all aspects of each
portfolio while navigating cross-border financial and regulatory
considerations.

Burroughes: How do you interact with private banks,
external asset managers and other parties in the wealth
management ecosystem?

Wong: We collaborate closely with private banks,
trustees, family offices, and external asset managers by
extending their service offerings to include wealth and legacy
planning solutions. 

We have also established deep, trusted relationships with global
top-rated insurance carriers. These partnerships are strategic
alliances that give us access to a diverse range of world-class
insurance solutions, which we use to design sophisticated legacy
plans with favourable terms that are truly bespoke and tailored
to our clients’ diverse needs.  

We also maintain active collaborations with best-in-class
professionals across the wealth management spectrum. This
carefully curated network allows us to offer comprehensive
solutions through a single, integrated platform. 

Burroughes: How do you go about raising awareness of your
brand and getting the word out? 

Wong: Professional relationships and word-of-mouth
referrals are key to our growth. As we mark our 25th anniversary,
our track record in providing sophisticated insurance solutions
for complex wealth planning needs leads to referrals from
partners and satisfied clients. These authentic endorsements from
trusted sources – such as private bankers, family offices, and
external asset managers – carry significant weight in our high
net worth segment.

Given the confidential nature of our work and our sophisticated
clientele, we build our brand through demonstrated expertise.
This includes sharing thought leadership on wealth planning
topics and participating in industry events for partners and
prospective clients. These platforms allow us to showcase our
understanding of wealthy clients’ challenges and our innovative
solutions.

We are also pioneering new ways to engage with the next
generation of wealthy Asians. As the first among our peers to
establish a strong social media presence, including an active
TikTok channel, we connect with digital clients where they are
based. Our digital content strategy presents complex wealth
planning concepts in accessible, engaging formats, complementing
our traditional strength in relationship building. 

Burroughes: How can the toolkit of insurance-driven
solutions, in your view, be given more exposure in the wealth
management sector, given its value in dealing with matters such
as critical illness, structuring and protecting wealth,
including inheritance, etc? What would you like to see change so
that the insurance angle can flourish even more?

The key to expanding the visibility of insurance-driven solutions
lies in fundamentally reshaping how these tools are positioned
within legacy and wealth planning conversations. Rather than
treating insurance as a secondary consideration, it should be
elevated as a cornerstone of strategic planning discussions,
particularly when addressing intergenerational wealth transfer,
business succession, and estate preservation. The sector needs to
move beyond viewing insurance merely as protection and instead
recognise it as a sophisticated planning instrument.

To do so, relationship managers, wealth advisors, and partners
need continuous education to have a better understanding of how
insurance can be strategically deployed beyond its traditional
risk management role for optimal legacy planning outcomes. At
Grandtag, we are particularly focused on enhancing advisor
expertise in leveraging insurance solutions for complex wealth
structuring challenges. Our professionals are trained to identify
opportunities where insurance can provide unique advantages –
whether in tax-efficient wealth transfer, business succession
planning, or providing liquidity for estate settlements. We also
share knowledge among our network, helping our strategic partners
to have a better understanding of the value that insurance brings
to clients and its potential to meet legacy planning goals.