HONG KONG SAR – Media OutReach Newswire – February 20, 2024 – WRISE Group today announced the launch of WRISE Prestige, a new business unit highlighting the Group’s commitment to diversifying its offerings and meeting the evolving wealth management needs of the region. WRISE Prestige extends WRISE’s reach to the mass market of the wealthy with a minimum investment threshold of $500,000.
Asia’s wealthy mass market is undergoing transformative change, driven by the rise of the Asian middle class and the transfer of wealth between generations. Southeast Asia’s affluent population is expected to reach
136 million by 2030. At the same time, wealthy Chinese households are expected to experience an increase in their
162 million by 2030.
“Over the past few years, we have seen stronger demand and increasing sophistication of wealth management solutions from clients in Asia, especially as the region’s growing wealth has significantly expanded opportunities for investment for the affluent masses,” said Derrick Tan, executive chairman of the group. from WRISE. “WRISE Prestige positions WRISE Group at the forefront of managing the region’s changing wealth flows, in sync with the evolving demands of this dynamic customer base. The expansion also highlights our commitment to addressing these wealth demographic shifts, delivering tailored solutions that fill a crucial gap in the wealth management landscape.
WRISE Prestige will first launch in Hong Kong and will offer affluent clients unprecedented pricing transparency and exclusive direct investment opportunities, mirroring the benefits enjoyed by WRISE’s existing High Net Worth Individuals (UHNWI) clientele. The product offering will also include global securities, structured products, mutual funds and fixed income.
Leadership of the new business unit includes Stephen Yan, President of WRISE Prestige, who will oversee business plans and strategic activities, and Jowin Fung, Vice President and CEO of WRISE Prestige, who will lead the day-to-day operations of WRISE Prestige.
“I am delighted to join WRISE at such a crucial time. The launch of WRISE Prestige comes at an opportune time to meet the wealth management needs of these market segments,” said Jowin Fung, Vice Chairman and CEO of WRISE Prestige. “As we navigate the convergence of traditional and digital wealth management, I look forward to leading our team in redefining the wealth management experience for our clients.
WRISE Group will also rebrand its existing WRISE wealth management services for UHNWIs to WRISE Private in Singapore, Hong Kong and Dubai.
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