We are the first to introduce a service called ‘Multi-Client Family Office’ in Malaysia. It is based on a similar concept called ‘Family Office’, which originated in the US over a hundred years ago. Entrepreneurs such as Rockefeller and Carnegie, whose personal wealth threatened to overwhelm them, employed their own professionals to coordinate and optimise their personal wealth. The ideology recommends personal wealth is managed just like a business and managed holistically. Bill Gates, Michael Dell and Li Ka-Shing are some of the prominent names who adopt the ‘Family Office’ and holistic wealth management model.
In 2008, inspired by a cold call from a single mother seeking holistic financial advice, Whitman extended its services to a growing Malaysian middle class who now have access to a service previously available only to the rich and the wealthy.
Our clients range from first generation successful entrepreneurs to high flying corporate executives. They are people who know and realise that they need the help of a professional to grow their money with certainty.
This group of people had initially sought assistance from traditional wealth management providers – banks, investment management companies, independent financial advisory firms – to grow their wealth. However, they soon discovered there are limitations with these service providers:
First, there is no big picture perspective to their overall wealth management, as no single person is charged with the overall responsibility of coordinating their entire wealth management and be accountable to the end result.
Second, these traditional wealth management providers only offer standard products, not tailor-made solution. Our clients feel that not enough effort has been to put by these providers to thoroughly understand their unique financial circumstances (no holistic financial plan is done before any product recommendation).
Third, despite providing a wide range of wealth management services like investment, life insurance, will and trust, loan and others, the advice given is in silo and not integrated. As a result, the client ends up paying for it due to the duplication of effort and wastage of resource.
At Whitman, our wealth management is tailored to client’s unique goals and values. Our team of professionals can bring an objective perspective to provide clients with solutions that they would not have to struggle with, emotionally or intellectually.
Corporate Social Responsibility
Whitman has introduced some new initiatives to assist the single mother community in Malaysia. Mr. Yap and his highly trained associates have each committed to help a single mother a year develop a Roadmap to Financial Freedom and coach them for one year (worth RM1800) for FREE! Whitman also offers a 50% discount off Yap Ming Hui’s bestselling book Roadmap to Financial Freedom to single mothers.