Wrise Group Holdings (Wrise) has launched Singapore-based Wrise Wealth Management (Wrise WM) and its wealth system Trex.
The wealth manager is looking to offer ultra-high net worth individuals (UHNWIs) “innovative and client-centred solutions to grow their wealth and live their dreams”, it said in a statement.
Wrise WM has been set up to” fulfil this ambition as a technologically advanced wealth management firm that provides UHNWIs with the digital tools for complete control and transparency over their total wealth”.
The firm has been set up by Derrick Tan, chairman and chief executive of Wrise Wealth Management. Tan was previously global market head of greater China and north Asia and chief executive of Hong Kong at Bank of Singapore.
Tan said: “With the global economic uncertainty, market volatility and wealth transfer taking place globally, we observed a change in the requirements of the UHNWIs. 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.
“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, and hence, WRISE is formed to bridge these gaps and to meet the needs of these UHNWIs.”