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SINGAPORE, Nov 15, 2023 - (ACN Newswire) - Legacy Trustee Ltd ("Legacy Trustee" or the "Company"), an established Asian private trustee with a Digital Asset Infrastructure Platform that provides international wealth management services through custom-made trust portfolio services and education, has signed a Memorandum of Understanding (“MoU”) with multiple well known financial institutions and organisations in Labuan International Business and Finance Centre (“Labuan IBFC”) on Wealth Management Portfolio.The signing partners includes Alpine Advisory Sdn. Bhd, AMS Trust Company Limited, Estate Planning Practitioners (HK) Limited EPPL (HK), Fintech Bank Limited, GLP Consultancy Sdn Bhd (U Need Will), J.Rotbart & Co Gold Precious Metal, Pacific Invesco Capital Ltd, PFPFA Pte Ltd, UOB Kay Hian Wealth Advisors Sdn. Bhd. and VCI Global Limited.Through these partnerships, the Company aims to provide clients with an integrated wealth preservation plan.  This collaborative approach enhances convenience as well as safeguard the best interest for settlors and beneficiaries.The wealth management involves some strategic management of financial assets, to achieve an individual and family financial goals. Spanning from retirement savings to asset protection for future generations.  Trusts play a pivotal role in realising a spectrum of wealth management objectives. Among key benefits of using a trust for wealth management is that it offers flexibility in financial planning for asset growth and preservation while segregating power over managing, owning, and benefiting from trust assets. When assets are placed under a trust, they are no longer considered part of the grantor's estate, which means that assets under trust are not subject to traditional estate distribution. This can be particularly important for high-net-worth individuals who may have complex succession planning needs for their immovable assets, movable assets, and business empires.As Labuan IBFC is a leading international business and finance centre that offers a wide range of financial products and services, including the new in demand wealth management mechanism named Labuan Foundations. Among key benefits of using a Labuan Foundation, is that it provides asset protection and confidentiality. Assets held in a foundation are owned by the foundation itself, and not by the founder or beneficiaries. Additionally, the names of the founder and beneficiaries are not publicly disclosed, ensuring confidentiality. Labuan Foundations are also flexible and tax efficient.Successfully, Legacy Trustee Ltd and Bank Islam Trust Company (Labuan) Ltd have declared their respective intentions for the purpose of achieving the principles of collaboration which are to offer an innovative and an attractive option of Labuan Foundations structure for high-net-worth individuals and families as part of their wealth management plan.The Malaysian government, through Labuan Financial Services Authority (“Labuan FSA”), having a wide array of financial products and services, and skilled workforce, is committed to developing Labuan as a world-class sustainable financial centre.Mr. Nelson Goh, Principal Officer and Managing Director of Legacy Trustee said, "In our rapidly evolving digital age, digital assets are crucial, and collaboration among digital trustee companies, asset managers, and regulators is necessary. Labuan aims to become Asia's top financial hub, offering tax efficiency, diverse financial products, and skilled professionals. To achieve this shared goal, both the public and industry players need access to knowledge and continuous education. Importantly, synergy and unity among industry players are vital to achieving the goals.”He added, “Today’s MoU symbolises our commitment to enrich wealth management, estate planning, and cross-financial institutional and legacy academy collaborations. It's a milestone for Legacy Trustee Ltd, Labuan, and the Malaysian financial industry.”This MoU is also witnessed by representatives of Labuan IBFC Incorporated Sdn Bhd (“Labuan IBFC Inc.”), representatives of Bank Islam Trust Company (Labuan) Ltd and the President of Malaysian Institute of Estate Planners (“MIEP”), Mr See Kok Loong, which will mark a significant step towards promoting the utilisation of trusts and foundations in wealth management, estate planning and importance of legacy academic in fostering among financial institutions within the Labuan International Business and Finance Centre. This initiative is believed could attract new businesses and investment to Labuan, which would benefit the Malaysian economy.Back Row (From L-R):- Vivian Yong, Group COO, VCI Global Limited - Melvin Sho, Representative of Fintech Bank Limited (Labuan)    - Herman Chong, Director of Strategic transaction-Singapore, J. Rotbart & Co- Jeff Chow, Chief Executive Officer, PFPFA PTE LTD.- Alvin Tan, Chief Executive Officer, UOB KayHian Wealth Advisory Sdn Bhd- Julian Seng , Director of Compliance, Alpine Advisory Sdn Bhd- Gary Lee, Founder, GLP Consultancy Sdn Bhd "U NEED WILL"- Lee Chiwi, Chief Executive Officer, Estate Planning Practitioners (HK) LimitedFront Row (From L-R):- Dato Sri Desmond Lim, Board of Advisor, Pacific Invesco Capital- Joyce Louisa, Chief Operating Officer, Legacy Trustee- Dato' Seri Prof. Dr. Mohamad Zabidi Ahmad, Independent Non-Executive Director, BIMB Investment Bank Islam Malaysia Berhad- Nelson Goh, Managing Director, Legacy Trustee- Eric Rodriquez Sigutil, Head, Legal & Secretarial, Bank Islam (Labuan) Trustee LTD- Komaladewi Sabilawati, Representative of Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO, Labuan IBFC Incorporated- Rita Mohd Sharif, Director/ Principal Officer, AMS Trust Company Limited- See Kok Loong, President, Malaysia Institute of Estate Planner


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