A corner of HCM City, where S&P Investments has opened its office. — Photo goldenemperor.com

S&P Investments, recently crowned Best Financial Planning Service Provider Vietnam 2019 by International Business Magazine, opened its HCM City office doors on Wednesday at a grand opening event in the city.

Launched in 2017, S&P Investments is at the forefront of the movement to bring sophisticated wealth management services to the country’s rapidly growing high and ultra-high net worth populations.

Off the back of explosive economic growth, the country’s US dollar millionaire population is predicted to grow by 28 per cent from 12,327 to 15,776 by 2023, while its ranks of UHNW Is with over US$30 million is set to grow 31 per cent from 142 to 186*.

At the same time, the Vietnamese professional wealth management market is still very much in its infancy – creating fertile ground for the expertise S&P Investments’ founder honed in the West.

S&P Investments was founded by Brian Spence – who served the UK retail financial services community for over 30 years as a fund manager, independent financial adviser and business consultant – alongside Quang Pham, one of Viet Nam’s foremost entrepreneurs, best known for establishing the architectural business FVA.

Brian Spence, founding partner at S&P Investments, says: “We are delighted to be opening our new S&P office in one of the world’s most vibrant cities.

“We believe that Viet Nam’s rapidly expanding wealthy population is often in acute need of professional wealth management services as people move to diversify away from cash and property to get into stock market investing.”

“I’m very excited for our prospects in the years ahead as we continue to grow both our Vietnamese and expat client bases. Our M&A advisory business is also really taking off as the country’s entrepreneurs look to grow their businesses or realise the fruits of their endeavours.” — VNS