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]

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • China-Cambodia tourism forum held

    The Cambodian tourism sector must be prepared to welcome a growing number of Chinese tourists, as they lead the globe in the number of outbound travellers and were responsible for the most visitors to the Kingdom last year, the country’s tourism minister said on