Multi-family office, Envysion Wealth Management, will look to grow its $300 million in assets under management more than five-fold by year-end.
The group is targeting $1.5 billion to $2 billion of AUMs and boost its count of relationship managers from the current eight to 15 by 2020-end, according to a «Bloomberg» report.
Envysion plans to charge fees ranging between 0.5 and 1.5 percent of assets under management with waivers for early clients. Services it will provide range from structured deals to lifestyle offerings such as yacht and private jet charters.
MFO Growth
Growing regulatory constraints have pushed private bankers – especially the more entrepreneurial sort – to set up shop on their own often in order to become more nimble and flexible to meet client needs. Singapore's framework coupled with lower geopolitical risks has made it an especially favorable environment for independent asset managers.
Envysion Wealth Management is another such example. Its CEO and founder, Veronica Shim, is an ex-private banker with 16 years of experience across Julius Baer, EFG, Citi and UBS.
