Singapore-based Wrise has launched its wealth management offering, alongside a proprietary system, focused on serving the needs of the ultra-high net worth segment.
Wrise has launched WRISE Wealth Management and its proprietary system TREX, according to a statement.
The new offering is focused on serving the needs of ultra-high net worth individuals (UHNWI) with a range of services including portfolio management and advisory, access to a network of wealth planning specialists, corporate services and more.
«With the global economic uncertainty, market volatility and wealth transfer taking place globally, we observed a change in the requirements of the UHNWIs,» said Derrick Tan, chairman and chief executive of Wrise WRISE WM as well as the former Hong Kong CEO at Bank of Singapore.
Consolidated Wealth View
In response to wealth managers’ heavy reliance on banking systems that often lack transparency and involve complex management of multiple entities across asset classes, Wrise launched TREX. The proprietary core wealth system allows investors to consolidate portfolios over a single, user-friendly platform to create a full view of bankable and non-bankable assets.
«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,» said Tan.
«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.»
