Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Expat financial service launched

Expat financial service launched

Expat financial service launched

An offshore financial services provider aiming to cater to expatriates in Cambodia hopes to tap into a market that has had its share of fly-by-night operators.

Tag Wealth International, a subsidiary of the Australia-based Tag Group, began operations last month, offering advice in areas such as life insurance, income protection, retirement planning and offshore banking.

 “We have partnered with a range of offshore product providers such as Generali, Hansard, Royal London 360, William Russell and Standard Bank to provide an extensive range of investment vehicles and insurance covers,”  Tag Wealth International director Andrew Willard said.

The company’s office, in Phnom Penh, hoped to prevent clients being poorly informed by financial advisers who flew in and out of the country, Willard said.

A senior consultant with another expat financial services provider said that having one more local company would benefit consumers.

“At the moment, a lot of advisers are based in Thailand and Korea.

They come in to do business, then leave — so it’s good if someone here will actually be accessible to their clients,” Paul Dodd, a senior financial consultant with Malaysia-based Infinity, which has had an office in Cambodia for seven years, said.

To contact the reporter on this story: Low Wei Xiang at [email protected]

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all