Wealth Management Institute: SGD 15 Million Investment to Strengthen Philanthropic Capabilities through the Asia Centre for Changemakers
- Written by The Bulletin
SINGAPORE - Media OutReach Newswire - 16 September 2024 - The Wealth Management Institute (WMI) introduced the Changemaker Impact Endeavour Fellowship "CHIEF" Programme at the opening of the Global-Asia Family Office (GFO) Summit.
This innovative fellowship, the first-of-its-kind in Asia, aims to empower funders, social entrepreneurs and nonprofit leaders to become more impactful changemakers.
As Asia Pacific anticipates a USD 5.8 trillion transfer of wealth by 2030[1]—a phenomenon known as the Great Wealth Transfer—a new generation of younger and more diverse philanthropists is emerging. These changemakers are seeking innovative approaches to tackle complex regional and global challenges. Consequently, strategic philanthropy is expected to grow, underscoring the need for new skills and capabilities for the sector.
Aligned with Singapore's vision of becoming a leading philanthropy hub, the Asia Centre for Changemakers (ACC) was established at WMI this year with SGD 15 million in funding pledged by Temasek Trust and Philanthropy Asia Alliance to bolster philanthropic capabilities. The launch of the CHIEF programme is the latest addition to ACC's suite of philanthropy-focused initiatives, aiming to train 1,000 wealth owners, social innovators and philanthropy professionals by 2028.
Ms. Foo Mee Har, CEO of WMI, stated, "ACC is dedicated to redefining philanthropy in Asia by equipping leaders with the skills and strategic insights needed to drive meaningful impact. We aim to build a robust ecosystem of changemakers capable of addressing the region's most pressing challenges. Our vision is for the CHIEF programme to serve as a catalyst for fostering a lifelong community of like-minded individuals who will collaborate to develop transformative solutions for Asia."
Through a comprehensive seven-month programme, CHIEF participants will reimagine the purpose of capital, explore the impact landscape, assess the viability and scalability of impact projects, and delve into how various financial models may be suited to different contexts.
The programme is developed in collaboration with the London School of Economics (LSE) Marshall Institute, known for its 100x Impact Accelerator that offers grants and support to a new generation of social unicorns. Stephan Chambers, Director of the Marshall Institute at LSE, remarked, "We are thrilled to partner with WMI in co-designing the innovative CHIEF Programme. By integrating our pedagogy, research, and convening power, we expect to inspire and nurture a new generation of changemakers who will bring forth solutions with greater, more sustainable impact in their communities."
In addition to LSE's world-class curriculum, participants will also learn directly from global pioneers such as Jed Emerson, the creator of Total Portfolio Management[2], and Bruno Roche, founder of the Economics of Mutuality[3]. The CHIEF Programme will also include learning journeys to the UK and Asia, offering practical on-ground exposure to transformative social innovations and culminating in a roadmap for the participants' personal impact ambition.
To foster collaboration and exchange of ideas between wealth owners and social innovators, the ACC will award scholarships to exceptional social innovators in Asia to participate in the CHIEF programme. This initiative aims to bridge diverse perspectives, enabling both wealth owners and social innovators to co-create solutions that address complex challenges. It is part of ACC's broader commitment to building capabilities in philanthropy.
The ACC is a learning lab for impact capital, equipping impact investors, entrepreneurs, and advisors to purposefully channel their resources and passion for a better tomorrow. Since its launch, the ACC has trained 250 participants through its philanthropy courses, including the Certified Impact Philanthropy Professional (CIPP) programme. This certification, the first of its kind in Asia, has been mapped to industry skillsets and is designed to equip wealth advisors and family office professionals with the expertise needed to confidently strategize, advise, and implement impact initiatives.
For more information about CHIEF, visit https://wmi.edu.sg/asia-centre-for-changemakers/chief-programme/
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About WMI
Established in 2003, the Wealth Management Institute (WMI) is committed to building capabilities for investing in a better tomorrow. Founded by GIC and Temasek, our vision is to be Asia's Centre of Excellence for wealth and asset management education and research. WMI has been appointed as Singapore's Lead Training Provider for Private Banking by the Institute of Banking and Finance Singapore (IBF) and supported by the Monetary Authority of Singapore (MAS).
WMI provides a comprehensive suite of practice-based certification and diploma programmes and collaborates with leading universities for master's qualifications. With over 20,000 annual enrolments, WMI provides training in asset management, wealth management, compliance, risk management, family office, as well as the development of the next generation across more than 130 programmes.
WMI helms the Global-Asia Family Office Circle, a network platform that fosters a trusted environment to build capabilities and community in the family office sector.
WMI's Asia Centre for Changemakers (ACC) is dedicated to building capacity and nurturing a pipeline of active and informed philanthropic changemakers with a focus on Asia. The ACC houses the Impact Philanthropy Partnership, a joint initiative with the Private Banking Industry Group (PBIG) and supported by the Monetary Authority of Singapore (MAS).
For more information, visit www.wmi.edu.sg
