This multi-year training initiative aims to equip Singapore's 6,500 practising lawyers with specialised skills to serve the rapidly growing family office sector.
The partnership addresses a growing need for legal training in this area, as demand surges for specialised legal expertise amid the rapid expansion of Singapore's family office landscape. The nation has witnessed exceptional growth in its family office sector, with single-family offices exceeding 2,000 by the end of 2024, over five times the number just five years ago. This growth mirrors Singapore's broader wealth management success, with a year-on-year increase of 12.2% in assets under management (AUM) in 2024, surpassing SGD 6 trillion for the first time. As wealthy families seek increasingly sophisticated legal guidance, it is vital to create formal pathways for lawyers to develop the specialised knowledge required.
The legal profession's involvement in family office advisory services has become increasingly critical as wealthy families require sophisticated guidance on complex cross-border structures, regulatory compliance, and succession planning. Family office legal counsel must navigate varied asset portfolios, multiple jurisdictions, and intricate family dynamics while maintaining the highest standards of discretion and professional ethics.
From 2026, WMI will offer Foundation and Advanced programmes covering topics from family office governance, wealth and succession planning, operations and management, anti-money laundering and compliance, ESG and international tax considerations.
Ms. Lisa Sam, President of the Law Society of Singapore, emphasised the strategic importance for the legal profession, "The collaboration with the Wealth Management Institute provides a structured platform to develop legal expertise in the family office and private wealth advisory sector. It aligns the legal profession's capabilities with the evolving needs of Singapore's wealth management ecosystem.
As the family office and private wealth advisory space continues to grow, this collaboration provides an important platform to ensure that the legal profession is well-positioned to support Singapore's broader wealth management ecosystem."
Ms. Foo Mee Har, CEO of WMI, remarked, "We are honoured to partner with the Law Society of Singapore to further strengthen the nation's capabilities as Asia's premier family office hub. Lawyers play an indispensable role in establishing governance frameworks, navigating cross-border legal complexities, managing succession planning, and safeguarding long-term family interests. Robust legal advisory is fundamental to the integrity and sustainability of family office structures. This certification is designed to equip lawyers with the specialised expertise required to serve as trusted advisors in an increasingly complex and globalised family office environment."
The certification programme will draw on WMI's established faculty network, which includes prominent lawyers among its faculty members and alumni. It will also be overseen by an Expert Panel with representation from the Law Society to ensure industry alignment and practical relevance.
The programme forms part of a broader initiative in continuing professional education (CPE), as all Singapore lawyers are now required to obtain three Mandatory Ethics Component (MEC) points annually. The certification will be fully accredited by the Institute of Banking and Finance Singapore (IBF), making it eligible for IBF-STS and SkillsFuture funding support.
This initiative builds on WMI's established leadership in family office education through the Global-Asia Family Office (GFO) Circle, launched in 2021 with the support of the Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS). The GFO Circle has grown to over 1,400 members, and WMI has recorded over 5,300 enrolments in its family office programmes to date.
Hashtag: #WMI
The issuer is solely responsible for the content of this announcement.
About WMI
Established in 2003, the Wealth Management Institute (WMI) is committed to building capabilities for investing in a better tomorrow. Founded by GIC and Temasek, our vision is to be Asia's Centre of Excellence for wealth and asset management education and research.
WMI provides a comprehensive suite of practice-based certification and diploma programmes and collaborates with leading universities for master's degrees. With over 17,000 annual enrolments, WMI serves a diverse community of professionals across Asia—including wealth and asset managers, family offices, and professionals in tax, legal, compliance, and financial regulation across more than 150 programmes. WMI is recognised as Singapore's lead training provider for private banking and wealth management.
WMI helms the Global-Asia Family Office (GFO) Circle, a trusted network platform that builds capabilities and fosters community within the family office sector. The GFO Circle is supported by the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS). WMI also leads the Asia Centre for Changemakers (ACC), supported by Temasek Trust and the Philanthropy Asia Alliance (PAA). The ACC aims to build capacity and nurture a strong pipeline of active and informed changemakers with a focus on Asia.
About The Law Society of Singapore
The Law Society of Singapore is the representative body for all lawyers in Singapore. Established under the Legal Profession Act 1966, it works to uphold the honour and independence of the legal profession, promote the interests of its members, and ensure access to justice by the public. The Law Society provides guidance, education, and advocacy on matters of law, and engages in community outreach to improve legal awareness. Through its initiatives, the Law Society strives to maintain the highest standards of professional conduct and to contribute meaningfully to Singapore's legal landscape. The mission of the Law Society is to serve its members and the public by sustaining an independent bar which upholds the rule of law and ensures access to justice.
Hashtag.net.au
