Introducing Exclusive Technology Wealth Management Platform - WRise Seizes the Family Office Market
- RT FAMILY
- Apr 16, 2024
- 2 min read
WRise Family Office has recently settled in Hong Kong, targeting ultra-high-net-worth individuals (UHNWIs) with assets exceeding $30 million. The company aims to provide specialized services to UHNWIs and their family offices, tailoring investment solutions to meet their wealth management needs. WRise expects to manage assets worth $5 billion by the end of this year.
WRise's Chairman, Derrick Tan, and Vice Chairman, Marcus Wong, emphasize the development of their core digital platform, "TREX," as a key advantage over traditional banks. This platform integrates clients' portfolio data, including both bank and non-bank assets, to provide comprehensive wealth management assistance.
Last month, WRise launched the comprehensive enterprise service institution "WeWrise" and established a subsidiary, the wealth technology solution provider "Voo Technologies (VooTech)." WeWrise offers professional wealth management services, including family trust formulation and investment guidance, while VooTech provides direct access to wealth management products from investment banks through the "TREX" platform, offering real-time pricing and cost savings.
WRise is the first external asset management (EAM) enterprise to introduce its self-developed platform. With the Asia-Pacific region projected to become the world's largest wealth center by 2026, WRise aims to expand its services to professional investors in addition to UHNWIs.
The Hong Kong government's initiatives to attract family offices, such as tax incentives and the Quality Migrant Admission Scheme, present significant opportunities for the wealth management market. WRise established its first office in Singapore last year and recently settled in Hong Kong to tap into the growing demand for personalized and technology-driven independent asset management solutions.
WRise aims to fill the market gap left by banks' limited functionality and low transparency in wealth management services. The company not only focuses on delivering positive returns but also leverages its platform and network to provide a higher-end experience to clients, including acquiring rare luxury items and arranging prime positions at auctions.
WRise's networking capabilities have also allowed it to receive client referrals from the insurance industry. By facilitating swift processing of insurance premium financing, WRise helps insurance practitioners improve their performance and attract clients.
As the second and third generations take over family offices, there is a shift towards impactful investments and environmental, social, and governance (ESG) considerations. WRise aims to connect with Hong Kong's family offices and assist them in achieving their investment objectives through its network and investment expertise.
Currently operating in Singapore, Hong Kong, and Shanghai, with a financial license in Dubai, WRise is preparing to expand its business to Japan and Taipei. The company sees great potential in Hong Kong, where it already serves 30% of its customers. With comprehensive wealth management solutions and an advanced digital platform, WRise is well-positioned to seize the family office market and provide tailored services to meet evolving client needs.
WRise's entry into the family office market, driven by technology-driven solutions and a commitment to innovation, positions it as a leading player in the industry. With the increasing wealth in the Asia-Pacific region and the demand for personalized and transparent services, WRise aims to deliver a holistic wealth management experience by leveraging its networking capabilities, investment expertise, and advanced digital platform.
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