Wrise Group has announced the launch of Wrise Prestige, a new business unit to meet the region’s evolving wealth management needs. Wrise Prestige expands the family office’s reach to the mass affluent market with a minimum investment threshold of $500,000, according to a press release.
“Over the past few years, we have been seeing stronger demand and increasing sophistication of wealth management solutions of clients in Asia, particularly as the region’s rising affluence has vastly expanded the investment opportunities for the mass affluent,” said Derrick Tan, chairman, Wrise Group.
Southeast Asia’s mass affluent demographic is expected to surge to 136 million by 2030; China’s mass affluent households are forecasted to witness a rise to 162 million by 2030.
Wrise Prestige will first launch in Hong Kong and offer mass affluent clients price transparency and exclusive opportunities for direct investments, mirroring the advantages enjoyed by Wrise’s existing clients of ultra high net worth Individuals (UHNWIs).
Product offerings will also include global securities, structured products, mutual funds and fixed income.
Stephen Yan has been appointed chairman of Wrise Prestige, and he will oversee strategic business plans and activities. As vice chairman and CEO of Wrise Prestige, Jowin Fung will lead the day-to-day operations of the unit.
The Wrise Group will also rebrand its existing Wrise wealth management services for UHNWIs to Wrise Private across Singapore, Hong Kong and Dubai.
Wrise is an independent multi-family office, whose proprietary wealth management tool, TREX, provides clients with complete control and transparency over their total wealth, and the ability to create their own family office with real-time access to advice within an ecosystem of global private banks, investment banks, fund managers, brokers, and others.
WRISE Group of companies include Wrise Wealth Management (Singapore), WeWrise Services, and Voo Technologies and affiliated companies Wrise Wealth Management (Hong Kong), Wrise Wealth Management (Middle East).
