WFO Holding: SME Excellence Business Award 2022/2023
In today’s world, managing wealth can be a challenging task, especially when it comes to preserving a family’s legacy. That’s where WFO Holding comes in. This Singapore-based company specializes in managing assets owned by senior Wong and aligning them with investments mandates set by the successor, Chairman Mr. Raven Wong. Mr Raven Wong is the Founder & Chairman of WFO Holding. Mr Wong is an all-rounder investor, an enthusiast and a volunteer in the philanthropic space. During his free time, Mr Wong can be found volunteering, appreciating art, reading up on cryptocurrency, or sharpening his photography/cinematography skills.
WFO Holding is a single family office and management consultancy ﬁrm that specializes in ﬁnancial management and alternative investment strategy, with a presence in both Singapore and United Kingdom. But WFO Holding is more than just a ﬁnancial management company. They have developed complimentary services, such as private philanthropy events and contributions, to help their clients make a positive impact in the world. Mr. Raven Wong is a ﬁrm believer in mentorship and leadership in philanthropic endeavors, which is why he founded WFO Holding to be a multi-family ofice that not only protects and enhances family wealth but also assists in making a positive impact on society.
WFO Holding’s brand name comes from the founder of the company, and their logo symbolizes unity and a reminder to be grounded and do good. The company markets itself through word of mouth and private banks, relying on the strength of their reputation and relationships with clients to create more business opportunities. WFO Holding is always open to considering investment opportunities that address signiﬁcant issues in today’s world. Additionally, they are willing to share information about their wealth management system and portfolio, as well as keynote speaking opportunities.
WFO Holding faced its share of obstacles during its initial phase, particularly due to a generation change. However, they overcame these dificulties by making use of technology and engaging a consultancy ﬁrm, Kingston United Group, to implement systems and manage staG resources eGectively. Today, the company’s objectives are to protect and enhance family wealth through mentorship and to assist in the pursuit of leadership in philanthropic endeavors.
One of the ways WFO Holding differentiates itself from competitors is by working with highly experienced consultants to advise on alternative investments outside of Asia. With numerous incentives to have a family office based in Singapore, including grants and support from the government, WFO Holding is well-positioned to expand its operations. While they do not currently have a plan to retain clients, they do plan to invite other family offices to join them based on their track record and alternative investments.
Despite not currently oGering products and services to the public, WFO Holding’s investments have made positive returns, and staG satisfaction is high. The company also boasts a dedicated research team that introduced crypto investment opportunities. Their portfolio has more than 50 percent of alternative investment, providing an opportunity for clients to diversify their holdings.
WFO Holding’s founder, Mr. Raven Wong, attributes his success to constantly looking out for opportunities and always having several options as a solution to any problem. He also believes in putting down one’s pride and ego to ask for assistance and learn from others during the process. Mr. Wong is motivated by his desire to build a stable legacy for future generations and to do good works in the world.
Of course, like any company, WFO Holding has its strengths and weaknesses. One of its strengths is its mix of caring and safety culture, which fosters loyal employees who are motivated to work well due to personal relationships with colleagues and the nature of the business. The company also supports risk-conscious employees who like to plan ahead. However, the company has faced challenges due to ununiﬁed family decisions at times.
Despite these challenges, WFO Holding sees opportunities in alternative investments and government-related projects. They plan to do market research to understand their value in the industry and develop products and services in due time. To ensure operational eficiency, the company has advisors and management consultancy companies to assist them. They also manage
staG performance through peer evaluation and open feedback sessions. The company has managed to leverage technology and engage expert consultants to ensure the smooth running of its operations.
WFO Holding is a family-owned business that has made signiﬁcant strides in the wealth management industry. WFO Holding is a unique company that not only protects and enhances family wealth but also makes a positive impact in the world. With plans to expand into the entertainment industry and corporate gift manufacturing, as well as expanding overseas, the company’s future looks promising. As a family office based in Singapore, WFO Holding is set to beneﬁt from various incentives, including grants and government support, which will be critical in expanding into a multi-family office.