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

  • Negotiations on EBA being held

    In an effort to defuse tensions, a senior government official said Cambodia is negotiating with the European Union (EU) on the Everything But Arms (EBA) trade deal, which allows the Kingdom to export goods to the 28-member bloc tariff-free. The EU notified Cambodia on October 5

  • EU officials: Ending EBA an 18-month procedure

    EU officials have confirmed that it will take a total of 18 months to complete the procedure if Cambodia’s preferential Everything But Arms (EBA) trade agreement is to be withdrawn. According to EU Agriculture and Rural Development spokesman Daniel Rosario, the formal process has not

  • Chinese police escort deported scam suspects

    Ninety-one Chinese nationals accused of extorting money from victims in a Voice over Internet Protocol (VoIP) scam were deported from Phnom Penh International Airport on Monday under the escort of 182 Chinese police personnel. General Department of Immigration head of investigations Ouk Hay Seila told reporters

  • IPU slams government claim

    The president of the Inter-Parliamentary Union (IPU), Gabriela Cuevas Barron, has refuted a claim by the National Assembly that she “highly appreciated the achievements of Cambodia” in its July national elections with a tweet saying “Of course not!” before adding “No congratulations”. A delegation from