WEALTH connects high-net-worth individuals with suitable wealth managers through its proprietary algo-based matching platform

Country: Singapore
Year:
2015

WEALTH-Logo-Chinese-Black

 
 
 
 
WEALTH is the Singaporean sister service of the London-based findaWEALTHMANAGER.com, which provides matching services to high-net-worth individuals (HNWIs) and wealth managers through its proprietary online portal.
Since the matchmaker’s launch in 2012, it has helped HNWIs invest more than US$ 1.5 billion with the wealth managers in its network. The company expanded to Singapore in 2015.

Concept

  • WEALTH provides a one-stop solution to HNWIs by matching them with personalized wealth management solutions providers, such as private banks, investment managers, trust and tax advisors, and legal and estate planning specialists.
  • The platform matches HNWIs through its proprietary algorithm that tailors the search results according to the users’ profile and the wealth managers’ characteristics. The user profile is based on a detailed questionnaire consisting of several key questions on the user’s personal background, knowledge of the financial industry, available funds, desired account size with a wealth manager, desired investment services (advisory, discretionary and execution-only), and interest in other financial services, such as insurance, estate planning and lending services.
  • On the other end, wealth managers are required to answer a similar questionnaire to understand their service offerings, background, and the desired profiles of their target clientele. Based on the responses on both sides, WEALTH shortlists the three most suitable wealth managers for each user from its network of 100 wealth solutions providers. Thus, executing a two-way match between both parties.
  • The company’s revenue model involves charging its partnered wealth managers for introducing clients.
  • Facts and figures:
    • More than 1,500 investors used the company’s services in 2015.
    • The company has about 100 wealth solution providers globally.
    • In 2015, the company raised GBP 500K from a small group of private investors for its expansion to Singapore. This was the company’s first round of external funding since its creation in 2012.

Consumer Benefits

For HNWIs, WEALTH offers three key benefits:

  • Efficiency: Instead of simply relying on the traditional word-of-mouth introductions to wealth managers, the WEALTH platform gives its users an opportunity to access a large pool of solution providers and an ability to compare and select the most appropriate wealth managers within a matter of minutes.
  • Tailoring: The WEALTH platform produces tailored results for each user based on their responses to a detailed questionnaire described above. This empowers users to get an independent list of 3 appropriate wealth managers.
  • Cost: The company does not charge its users any fee for searching or connecting with the right wealth managers through its platform. Instead, the users can get a free and a no-obligation meeting on their investment needs with their chosen wealth managers.

For wealth managers and other wealth solution providers, the company offers the following key benefit:

  • Accessibility: Through the WEALTH platform, the wealth solution providers get an opportunity to widen their customer base and access a more targeted set of clients beyond their traditional marketing and client acquisition methods. Further, given the low minimum investible wealth threshold of USD250K, wealth managers can access clients with a wide range of investible assets.

How it works

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