Crossbridge Capital to Launch Online Investment Platform for High Net Worth Investors in Singaporeby Fintechnews Singapore September 19, 2016
Leading independent wealth management firm collaborates with Pershing and Bambu to bring bespoke digital investment solution to affluent investors.
Crossbridge Capital, an independent wealth management firm which provides investment solutions for ultra-high net worth families, today announced plans to launch Singapore’s first digital advisory platform for accredited investors*.
The platform is being developed in collaboration with industry-leading asset management and technology firms, including Bambu and Pershing, a BNY Mellon company. Designed to deliver a premium wealth management experience, it will enable users to take control of their investments and seamlessly access and manage tailored products chosen to match their investment profile and objectives.
Established in 2008, Crossbridge Capital is an independent wealth advisor with approximately US$3 billion from entrepreneurs and families under supervision. The company is regulated in multiple markets and has offices in London, Singapore, Monaco and Malta.
“Crossbridge Capital provides independent and client-centred advice to wealthy investors, backed by access to strong partners and intelligent investment solutions. Our new digital platform will bring the same philosophy but to a wider audience. It empowers clients to utilise the latest technology to manage their investments in their own time and without the high fees of traditional operators.
“History has shown that technology can help people invest smarter. We are bringing together the human investment talent that we have in-house with the latest technology to enhance our service offering to clients and ultimately provide outperformance with lower risk,” said Tarek Khlat, Co-Founder and Group Chief Executive Officer, Crossbridge Capital.
The advisory platform is being developed by B2B platform provider Bambu and will launch later this year in Singapore which will also act as a hub for future expansion into other markets. It will provide easy-to-use personalized investment solutions developed in partnership with a top tier structured investments and financial technology provider, as well as a leading global investment research company. Through carefully selected partnerships Crossbridge Capital will be able to offer highly efficient actively managed investments portfolios that are tailored to suit investors’ needs.
Additionally, clients’ assets and funds will be cleared and held with Pershing, part of BNY Mellon, one of the world’s largest custodians with US$29.5 trillion under custody**. Being a U.S.-regulated entity, Pershing offers U.S. tax reporting as part of its suite of services; this will mean that under-served U.S. expatriate investors living in Singapore will also be able to invest on the platform, in addition to other accredited expatriates and Singaporean investors.
“We are confident that our digital solution, will be very attractive for accredited Singaporean investors and U.S. expatriates in Singapore who are finding it increasingly difficult to access investment and savings products while living overseas. Our collaboration with Pershing will enable us to offer the same bespoke investment solutions to U.S. expatriates that our other high net worth clients enjoy.” said Charlie O’Flaherty, Partner and Head of Digital Strategy & Distribution at Crossbridge Capital.
“What we are bringing to the market is a digital wealth solution that is fresh, intuitive and transparent and is backed by the human expertise of Crossbridge Capital’s wealth advisers. Our aim is to demystify investing for the uninitiated and to make it hassle-free for more sophisticated investors,” added O’Flaherty, “we look forward to announcing further details in due course”.
Research by Cap Gemini shows that Asia recently eclipsed North America as the largest region for wealthy investors: now accounting for 17.4% of worldwide high net worth investors***, investors in Asia are also demonstrating a greater propensity for digital engagement when it comes to wealth management****.
* “Accredited investors” include individuals whose net personal assets exceed S$2 million or whose income in the preceding 12 months is not less than S$300,000 [Source: Monetary Authority of Singapore]
** As of June 30, 2016 Source
*** Cap Gemini World Wealth Report 2016
**** Cap Gemini Asia-Pacific Wealth Report 2015