Raffles Family Office has launched Revo Digital Family Office (Revo DFO), a new platform that allows ultra-high net worth (UHNW) families to invest in digital assets.
“The growing interest in digital assets shown by UHNW investors in Asia presents new opportunities for the wealth management industry, but it is at risk of being overlooked and underserved,” said Revo DFO CEO Ray Tam.
“[Revo DFO] will support cryptocurrencies and digital asset funds, with professional management and options to trade independently. It also provides crypto-native UHNWs an easier path to traditional asset management, with access to relationship managers and improved succession planning for the next generation.”
The platform aims to attract UHNW investors, single family offices and relationship managers and will provide asset management, private wealth advisory and custody services to both UHNW families with traditional assets and investors with experience with cryptocurrencies.
The platform is a partnership with Huobi Technology Holdings, which is a Hong Kong-listed digital asset technology company.
The platform includes a fiat-cryptocurrency integrated dashboard, which can provide portfolio breakdown and analysis, real-time market information and historical data breakdown among other things.
It supports major custodians and digital wallets and provides asset management services for both traditional assets such as US dollar, structured products, investments and digital assets such as USD coin, bitcoin and non-fungible tokens.
The family office noted that 75% of wealthy investors in Asia are interested in digital assets, and more than half of them are already investing in the asset class, according to data from Accenture’s Asia Affluent Investor Survey.
Yet, more than two-third of the wealth managers surveyed do not have a strategic plan to address the growing appetite for digital assets, the same survey found.
“We understand that UHNW clients want greater and easier access to a wider range of digital assets, but are at times held back by concerns over complexity, uncertainty and legitimacy,” said Raffles Family Office chairman Chi-man Kwan.
“The launch of Revo DFO marks the latest evolution in wealth management that will support and facilitate a smooth transition from traditional to digital for UHNW families in Asia.”