Derrick Tan, chairman and CEO of WRISE Wealth Management and former CEO of Bank of Singapore in Hong Kong, aims to simplify wealth management with a suite of services on a single platform.
This week, wealth management firm WRISE Group Holdings launched Singapore-based WRISE Wealth Management and its core wealth system, TREX.
WRISE said in a statement that it aims to offer ultra-high net worth individuals innovative and client-centred solutions to grow their wealth.
Making wealth management easier is part of a host of complementary services that range from portfolio management and unbiased expert advice, to a network of strategic partners with deep specialisation in wealth planning, corporate services and more, the firm added.
The complementary services, which range from portfolio management and unbiased expert advice, are available to make wealth management easier. They are complemented by a network of strategic partners with deep specialisation in wealth planning, corporate services and more, the firm added.
All of these services can be assessed and managed easily by its proprietary core wealth system, TREX, a platform that can address clients’ wealth management needs, the firm added.
“With the global economic uncertainty, market volatility and wealth transfer taking place globally, we observed a change in the requirements of the UHNWIs,” Derrick Tan, chairman and CEO, WRISE Wealth Management, explained.
“There is increasing demand for family offices across the Asia-Pacific and the Middle East regions, and a new generation of clients who are digital natives and who prefer greater control over their portfolios,” he added.
“However, this growing number of UHNWI-backed family offices in recent years has led to increased management and maintenance costs, further aggravated by a lack of independent and experienced wealth management talents to meet demand. What they need is a way to consolidate their total wealth to simplify wealth management, and hence, WRISE is formed to bridge these gaps and to meet the needs of these UHNWIs,” he stressed.
Currently, the UHNWIs and their independent wealth managers who rely on banking systems for product ideas and suitability, often lack transparency. The firm said it saw an opportunity in the industry to provide a consolidated view of an UHNWI’s total bankable and non-bankable assets, thus reducing the complexities of wealth management, such as managing multiple entities and navigating their various asset classes.
In view of this, the firm said that TREX, the core wealth system supporting WRISE, will bring innovative and best-in-class technology to help UHNWIs consolidate their portfolios over a single, easy-to-use platform.
Clients can navigate and fully customise their total wealth to make timely investment decisions, anytime and anywhere.
WRISE said that it aims to set the gold standard in helping clients achieve their wealth and legacy goals with a powerful digital platform to simplify wealth management.
WRISE is a wealth enterprise which provides innovative client-centred solutions to make it easy for ultra-high net worth individuals (UHNWIs) to grow their wealth. TREX is a core wealth system offered as a service to UHNWIs. Available for access on a proprietary and digital platform, clients gain control and transparency of their total wealth, encompassing their bankable and non-bankable assets, the firm added. The platform, which is backed by a team of bankers with industry knowledge, is available as a customised solution designed to fulfill clients' specific needs and goals.