The Singapore-based digital advisor intends to reduce private market entry thresholds for high-net-worth clients.
Stashaway has expanded the scope of its wealth management offering for high-net-worth individuals in Hong Kong by providing lower minimum investment requirements for private market investments, an announcement sent by the company on Wednesday indicated.
In 2021, finews.asia reported that Stashaway had rolled out its platform in Hong Kong after receiving a license to do so from the Securities and Futures Exchange (SFC). At the time, it provided intelligent asset allocation for the city’s residents using Global ETFs.
Underserved
The current step will give high-net-worth Hong Kongers access to «institutional-grade» private credit at «an entry point that is a fraction of the typical minimum investment required» as well as dedicated wealth advisory services.
The company maintains that traditional financial institutions underserve a significant proportion of the sizeable wealthy client base in Hong Kong, as investment solutions «are often plagued by costly fees, high minimum investment sums, and a lack of independent financial advisory».
High Proportion
Stashaway indicated that high-net-worth clientele in Hong Kong now comprise 65 percent of its assets under management in the city.
“Private market investments shouldn’t be just for the ultra-wealthy; and wealth advisory that prioritises clients’ interests, not commission fees, shouldn’t be the exception. We’re excited to bring StashAway Reserve to Hong Kong, offering unbiased wealth advisory and access to private markets at a much lower entry point,” said Michele Ferrario, co-founder and CEO of Stashaway.
Growing Presence
The digital wealth manager offers investment portfolios and wealth management solutions for retail investors and high-net-worth individuals and operates in Singapore, Malaysia, the Middle East and North Africa, Hong Kong, and Thailand.
The company surpassed $1 billion in assets under management at the end of January 2021.
