The process of handling the bills, ledgers, reports and other tasks has traditionally been highly labor-intensive; it has to be stored and such information has typically sat in different files and places in a firm. Eton Solutions says its offerings cut through all this to save time and money. The US firm is opening an international HQ, in Singapore.

Eton Solutions, the business created from US-based Eton Advisors, a multi-family office, has launched its administrative family office solution and set up international headquarters in Singapore. The move comes as the Asian city-state positions to be the dominant family office hub in Asia.

While the Americas region will retain its primary focus, Eton Solutions' international headquarters in Singapore will enable Eton Solutions to streamline its access and support to international markets without relying on North American resources, the firm said in a statement yesterday. 

The business is the developer of the cloud-based AtlasFive® enterprise resource platform (ERP) for the “family office of the future” – and this news service has interviewed the business about trends it sees unfolding in the family offices space.

Eton Solutions Administrative Family Office™ (AFO) is, meanwhile, a new wealth management technology platform that harnesses its Atlas Five® software and services into a single solution.

The firm argues that its Singapore office plays to the jurisdiction’s status as an important and growing family office hub. Based on estimates from the Monetary Authority of Singapore, there were about 700 such institutions at the end of 2021, almost double the 2020 year-end figure of 400. 

"Singapore has become a major destination for family offices globally. Its geo-proximity to over half of the world’s ultra-high net worth individuals and connectivity and working relationships with the major economic powerhouses of China, Taiwan, Hong Kong, Japan, South Korea, Indonesia, Philippines, Thailand, Australia, New Zealand and the Indian sub-continent makes it a prime location for us to serve international markets,” Eton Solutions executive chairman Satyen Patel, said.

The Singapore office will serve all markets outside the Americas, including Africa, Europe and the Middle East. 

The AtlasFive® platform administers more than $425 billion in assets. It aggregates and manages offices’ data, reporting and workflow processes.