Citi Wealth Singapore Study: Average HNW Assets Rise 6% to US$1.5 Million, and 76% of Over-55s Have a Succession Plan

Citi Wealth's new Singapore white paper, released on 22 October 2026, reports that average assets of high net worth (HNW) clients rose 6% to US$1.50 million and that 76% of Singaporeans aged 55 and over have a will or succession plan, compared with 41% in Hong Kong.

TL;DR

• Citi Wealth and research firm RFI Global say average HNW client assets in Singapore rose 6% to US$1.50 million from US$1.41 million in 2025.
• Citi reports that 72% of onshore affluent assets and 74% of offshore booked assets sit in cash and liquid deposits, while 58% of HNW clients are comfortable using AI for personalised insights.
• The study covers bank clients, not family offices, and its sample size and methodology were not stated in the coverage we read.

What does the Citi Wealth Singapore study say about wealth levels?

The white paper, titled Singapore at Heart, Global in Possibilities, was prepared by Citi Wealth with the independent research firm RFI Global. Citi says average HNW client assets reached US$1.50 million, up 6% from US$1.41 million in 2025, while average affluent assets under management per institution rose 5% to just over US$565,000 from US$537,710. Cross-border clients are led by Indonesia, at 41% of Singapore's cross-border banking customers, and Malaysia, at 36%.

How are Singapore's wealthy investing their money?

Citi reports that mutual fund ownership among Singapore HNW investors rose from 11% in 2022 to 31% in 2026, the highest in the Asian markets it compared (India 24%, South Korea 17%, Hong Kong 16%, mainland China 7%). Even so, 72% of onshore affluent assets and 74% of offshore booked assets are held in cash and liquid deposits. In Hong Kong the offshore figure is 76%. By contrast, US affluent and HNW clients allocate 58% to long-term investments.

How many Singaporeans have a succession plan?

About three in four affluent Singaporeans have a will or succession plan or intend to create one, according to the study. Among those aged 55 and over, 76% have a plan in place, against 41% in Hong Kong. The most common triggers are advice from a financial adviser and health concerns, each cited by 41%, followed by retirement planning at 37%, marriage or divorce at 18% and the birth of a child at 13%. Protecting family assets is the top estate priority at 51%, while avoiding family disputes and fair distribution among heirs are each cited by 45%.

Are wealthy Singaporeans open to AI advice?

Citi says 58% of HNW clients and 51% of affluent clients are comfortable using AI for personalised insights, mainly product comparison and portfolio screening. Keeping full control of financial decisions is the top consideration (31%), followed by the option to consult a human adviser (22%). The relationship manager Net Promoter Score rose from +19 in 2022 to +31 in 2026. Yeo Wenxian, Asia South head of wealth at Citi and chief executive of Citibank Singapore, said the adviser's role has evolved into that of a strategic partner.

Why it matters for family offices and wealth families

Family offices sit above the HNW bracket studied here, but the findings show how the wider Singapore client base behaves: heavy cash holdings, rising interest in funds, caution about handing decisions to AI, and an early start on succession planning. Those are useful reference points for families setting governance and liquidity policies. For related Asia data, see our coverage of the Citi Wealth Survey of APAC family offices (https://asiafamilyofficehub.com/citi-wealth-survey-79-of-asia-pacific-family-offices-invest-directly-and-80-name-ai-a-focus/), the Julius Baer Family Barometer on business-owning families (https://asiafamilyofficehub.com/only-2-3-of-business-owning-families-are-fully-prepared-to-sell-what-julius-baers-2026-family-barometer-says-about-asia/) and our succession planning questions guide (https://asiafamilyofficehub.com/five-succession-planning-questions-asian-families-should-ask-what-withers-lawyers-say-and-what-the-data-adds/).

What is not confirmed

The coverage we read does not state the sample size, fieldwork dates or how Citi defines affluent and HNW, and we did not access the full white paper. These are Citi's own findings about its market, published by Citi, and have not been independently audited. Nothing here is financial, legal or tax advice.

Frequently Asked Questions

What are the average assets of HNW clients in Singapore?

Citi Wealth reports US$1.50 million, up 6% from US$1.41 million in 2025.

How does Singapore compare with Hong Kong on succession planning?

Citi reports that 76% of Singaporeans aged 55 and over have a plan, versus 41% in Hong Kong.

Does this study cover family offices?

No. It covers affluent and HNW bank clients, so its figures should not be read as family office data.

Sources and Method

Primary source: Citi press release for the white paper Singapore at Heart, Global in Possibilities, 22 October 2026, via PR Newswire (https://www.tradingview.com/news/prnewswire:96bfc70e6c0d4:0-singapore-wealthy-clients-average-assets-reach-us-1-5-million-as-mutual-fund-ownership-leads-asia-citi-wealth-report/). Independent coverage: WealthBriefingAsia, 23 October 2026 (https://www.wealthbriefingasia.com/article.php/Singapore-HNW-client-assets-rise-6-per-cent-%E2%80%93-Citi-?id=209164) and Fintech News Singapore, 23 October 2026 (https://fintechnews.sg/139515/wealthtech/singapore-wealth-citi-report-ai-hnw/). Figures were cross-checked across the three.