This June, HP Wealth Management, one of the earlier movers in the independent asset mwanagement space in Singapore, celebrates its 10th anniversary – but without a fancy party.
Singapore-based HP Wealth Management was founded in 2009 by former Credit Suisse banker Urs Brutsch and obtained the CMS License from the MAS in 2012. It manages money on a discretionary and advisory basis for clients predominantly based in Asia.
It applies a transparent fee structure and does not work with retrocessions, i.e. its interest is aligned with that of its clients. «We believe that this is the most sustainable way to successfully build a business,» Brutsch said.
Conscious Decision
«Our goal is to build something lasting. We will continue to invest in our platform and our staff to remain competitive. We will adapt to changes in client needs and expectations and to regulations,» he added.
Asked whether there will be a party, he said: «We have made a conscious decision not to have a lavish anniversary celebration. We believe that we don’t need to celebrate ourselves and rather spend the money on further improvements to our offering,» Brutsch said.
Modest Contribution
In addition, the firm will be making a modest contribution to a regional charity. «We believe that such an expense is more worthwhile than a fancy party,» Brutsch said.
