{"id":14374,"date":"2024-12-04T15:27:12","date_gmt":"2024-12-04T08:27:12","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=14374"},"modified":"2024-12-04T15:27:12","modified_gmt":"2024-12-04T08:27:12","slug":"high-net-worth-investors-are-embracing-tech-to-grow-their-wealth-moomoo-singapore-survey","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=14374","title":{"rendered":"High-net-worth Investors Are Embracing Tech To Grow Their Wealth: Moomoo Singapore Survey"},"content":{"rendered":"<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2039745\/moomoo_logo_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li>These investors are more confident in utilising wealth-tech to make their investment decisions<\/li>\n<li>As gatekeepers for their clients&#8217; wealth, wealth managers must evolve to meet the needs of an increasingly sophisticated investor<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Dec. 4, 2024<\/span><\/span> \/PRNewswire\/ &#8212; High-net-worth investors are now demanding more integrated wealth management solutions, according to data from a survey of more than 800 Moomoo users in <span class=\"xn-location\">Singapore<\/span> and that of its sister brand Futubull in <span class=\"xn-location\">Hong Kong<\/span>. These individuals, who have investable assets of at least <span class=\"xn-money\">S$1 million<\/span>, are increasingly embracing technology to preserve and grow their wealth.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<\/div>\n<p>The survey, which was conducted jointly with Professor <span class=\"xn-person\">Ben Charoenwong<\/span> of INSEAD<sup>[1]<\/sup> and Professor <span class=\"xn-person\">Alan Kwan<\/span> of the <span class=\"xn-org\">University of Hong Kong<\/span>, focused on the role of wealth-tech, or financial technology tailored to the wealth management sector.<\/p>\n<p>Nearly 7 in 10 investors across all wealth classifications are at least moderately comfortable with using technology to manage finances, the survey found. Yet, contrary to conventional wisdom, wealthier clients, rather than those with lower wealth levels, are more receptive to automated solutions.<\/p>\n<p>&#8220;Wealth management has traditionally been characterised by its high human touchpoint, with its highly personalised and face-to-face interactions between clients and their financial advisors. These high-net-worth individuals typically lead successful and busy lives, traditionally relying on the expertise of wealth managers to navigate the investment landscape and manage their portfolios,&#8221; <span class=\"xn-person\">Ryan Wu<\/span>, Head of Private Wealth and Institutional Business, Moomoo Singapore, said.<\/p>\n<p>&#8220;But that&#8217;s changing rapidly. As technology evolves and client preferences shift, these clients now expect hybrid advisory services, combining the best of technology and the human touch. This creates opportunities for digitally native firms providing wealth management services,&#8221; <span class=\"xn-person\">Rainie Miao<\/span>, Managing Partner of Institutional and Private Wealth Services, Futu Group, noted.<\/p>\n<p><b><u>Digital-first approach \u2013 but don&#8217;t forget the human <\/u><\/b><\/p>\n<p>Amid this shifting landscape, financial services firms have to adopt embedded digital services to meet the needs of their clients, particularly when it comes to emerging high-net-worth individuals within the millennial population.<\/p>\n<p>The survey also revealed the top three key digital features desired by wealthy clients in <span class=\"xn-location\">Singapore<\/span> and <span class=\"xn-location\">Hong Kong<\/span>:<\/p>\n<ol type=\"1\">\n<li><b>Holistic portfolio tracking and performance analysis tools<\/b>, highlighting the importance of comprehensive wealth management solutions that provide investors with a holistic view of their financial portfolio.<\/li>\n<li><b>Integration with existing financial accounts and platforms<\/b>, emphasising the demand for seamless connectivity between various financial platforms and services, aligning with the trend toward open architecture and API integrations in wealth-tech.<\/li>\n<li><b>Automated personalised investment advice, <\/b>reflecting a growing acceptance of robo-advisory services and exploration of AI-driven recommendations.<\/li>\n<\/ol>\n<p>&#8220;Across the region, there is a clear shift towards digitally integrated, comprehensive wealth management solutions that leverage automation. Wealth-tech providers and digital brokerages looking to be at the forefront of this transformation should prioritise these offerings to meet the demands of investors in these markets,&#8221; <span class=\"xn-person\">Rainie Miao<\/span> of Futu Group added.<\/p>\n<p><span class=\"xn-location\">Asia<\/span> remains a key market for the private wealth management industry. In particular, regional financial hubs such as <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">Singapore<\/span> are expected to continue their rapid growth in the years ahead. According to a recent report by HSBC, total financial assets in <span class=\"xn-location\">Asia<\/span> will grow from <span class=\"xn-money\">$46.8 trillion<\/span> <span>in 2020 to <span class=\"xn-money\">$68 trillion<\/span> by 2025<\/span><sup><span>[2]<\/span><\/sup>.<\/p>\n<p>In addition, a major transfer of wealth to the younger generation that now are more technologically savvy has been driving the ongoing shift in preference towards digital channels for the delivery of wealth solutions and services.<\/p>\n<p>Yet, while the role of technology in wealth management has become increasingly important, the human element remains critical, particularly for clients with complex or multi-faceted financial needs. Digital brokerages should invest in advisor augmentation technologies that enhance the human expertise offered by wealth managers.<\/p>\n<p>These tools can help advisors manage larger client portfolios more efficiently, provide data-driven insights, and save time for more value-added activities such as financial planning and relationship building.<\/p>\n<p>&#8220;The role of the wealth manager will continue to evolve as technology plays an increasingly bigger role in the industry. As gatekeepers for their clients&#8217; wealth, wealth managers must balance innovation with the need to maintain trust, security, and compliance. They must also be agile, continuously adapting to new technologies and client preferences while preserving the core values that underpin their relationships with clients,&#8221; <span><span class=\"xn-person\">Ryan Wu<\/span> of Moomoo Singapore<\/span>\u00a0said.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>[1]<\/sup>\u00a0Professor Ben Charoenwong was formerly an Assistant Professor of Finance at the National University of Singapore during the preparation of this report. He has since commenced a teaching position at INSEAD. \u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>[2]\u00a0<\/sup>HSBC &#8220;Understanding Asia&#8217;s emerging wealth landscape&#8221; <a href=\"https:\/\/www.gbm.hsbc.com\/en-gb\/insights\/international\/understanding-asias-emerging-wealth-landscape\" target=\"_blank\" class=\"prnews_a\" rel=\"nofollow\">https:\/\/www.gbm.hsbc.com\/en-gb\/insights\/international\/understanding-asias-emerging-wealth-landscape<\/a><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>About Moomoo Singapore\u00a0<\/b><\/p>\n<p>Moomoo Financial Singapore Pte. Ltd. (Moomoo Singapore) is an award-winning advanced financial technology company transforming the investing experience through our digitalised brokerage and wealth management platform \u2013 moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds a unique digitalised investment community to connect all users, investors, companies, analysts, media and key opinion leaders.<\/p>\n<p>Moomoo Singapore offers investment products for trading via the moomoo platform, and it is a capital markets services license holder regulated by the Monetary Authority of <span class=\"xn-location\">Singapore<\/span> (Licence No. CMS101000), Major Payment Institution (Licence No. PS20200617) holder with the Exempt Financial Adviser Status. In <span class=\"xn-chron\">April 2024<\/span>, Moomoo Singapore reached the 1 million users milestone in <span class=\"xn-location\">Singapore<\/span>.<\/p>\n<p>Moomoo Private Wealth offers bespoke investment strategies for HNW and institutional clients. Backed by its cutting-edge technology platform, Moomoo Private Wealth offers a portfolio of innovative investment products and has been recognised by Asia Banking and Finance for its product excellence.<\/p>\n<p>Our achievements include the Investment Tech of the Year award at the 2024 Asia Fintech Awards and the SIAS Best Retail Broker 2024.<\/p>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2039745\/moomoo_logo_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li>These investors are more confident in utilising wealth-tech to make their investment decisions<\/li>\n<li>As gatekeepers for their clients&#8217; wealth, wealth managers must evolve to meet the needs of an increasingly sophisticated investor<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Dec. 4, 2024<\/span><\/span> \/PRNewswire\/ &#8212; High-net-worth investors are now demanding more integrated wealth management solutions, according to data from a survey of more than 800 Moomoo users in <span class=\"xn-location\">Singapore<\/span> and that of its sister brand Futubull in <span class=\"xn-location\">Hong Kong<\/span>. These individuals, who have investable assets of at least <span class=\"xn-money\">S$1 million<\/span>, are increasingly embracing technology to preserve and grow their wealth.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<\/div>\n<p>The survey, which was conducted jointly with Professor <span class=\"xn-person\">Ben Charoenwong<\/span> of INSEAD<sup>[1]<\/sup> and Professor <span class=\"xn-person\">Alan Kwan<\/span> of the <span class=\"xn-org\">University of Hong Kong<\/span>, focused on the role of wealth-tech, or financial technology tailored to the wealth management sector.<\/p>\n<p>Nearly 7 in 10 investors across all wealth classifications are at least moderately comfortable with using technology to manage finances, the survey found. Yet, contrary to conventional wisdom, wealthier clients, rather than those with lower wealth levels, are more receptive to automated solutions.<\/p>\n<p>&#8220;Wealth management has traditionally been characterised by its high human touchpoint, with its highly personalised and face-to-face interactions between clients and their financial advisors. These high-net-worth individuals typically lead successful and busy lives, traditionally relying on the expertise of wealth managers to navigate the investment landscape and manage their portfolios,&#8221; <span class=\"xn-person\">Ryan Wu<\/span>, Head of Private Wealth and Institutional Business, Moomoo Singapore, said.<\/p>\n<p>&#8220;But that&#8217;s changing rapidly. As technology evolves and client preferences shift, these clients now expect hybrid advisory services, combining the best of technology and the human touch. This creates opportunities for digitally native firms providing wealth management services,&#8221; <span class=\"xn-person\">Rainie Miao<\/span>, Managing Partner of Institutional and Private Wealth Services, Futu Group, noted.<\/p>\n<p><b><u>Digital-first approach \u2013 but don&#8217;t forget the human <\/u><\/b><\/p>\n<p>Amid this shifting landscape, financial services firms have to adopt embedded digital services to meet the needs of their clients, particularly when it comes to emerging high-net-worth individuals within the millennial population.<\/p>\n<p>The survey also revealed the top three key digital features desired by wealthy clients in <span class=\"xn-location\">Singapore<\/span> and <span class=\"xn-location\">Hong Kong<\/span>:<\/p>\n<ol type=\"1\">\n<li><b>Holistic portfolio tracking and performance analysis tools<\/b>, highlighting the importance of comprehensive wealth management solutions that provide investors with a holistic view of their financial portfolio.<\/li>\n<li><b>Integration with existing financial accounts and platforms<\/b>, emphasising the demand for seamless connectivity between various financial platforms and services, aligning with the trend toward open architecture and API integrations in wealth-tech.<\/li>\n<li><b>Automated personalised investment advice, <\/b>reflecting a growing acceptance of robo-advisory services and exploration of AI-driven recommendations.<\/li>\n<\/ol>\n<p>&#8220;Across the region, there is a clear shift towards digitally integrated, comprehensive wealth management solutions that leverage automation. Wealth-tech providers and digital brokerages looking to be at the forefront of this transformation should prioritise these offerings to meet the demands of investors in these markets,&#8221; <span class=\"xn-person\">Rainie Miao<\/span> of Futu Group added.<\/p>\n<p><span class=\"xn-location\">Asia<\/span> remains a key market for the private wealth management industry. In particular, regional financial hubs such as <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">Singapore<\/span> are expected to continue their rapid growth in the years ahead. According to a recent report by HSBC, total financial assets in <span class=\"xn-location\">Asia<\/span> will grow from <span class=\"xn-money\">$46.8 trillion<\/span> <span>in 2020 to <span class=\"xn-money\">$68 trillion<\/span> by 2025<\/span><sup><span>[2]<\/span><\/sup>.<\/p>\n<p>In addition, a major transfer of wealth to the younger generation that now are more technologically savvy has been driving the ongoing shift in preference towards digital channels for the delivery of wealth solutions and services.<\/p>\n<p>Yet, while the role of technology in wealth management has become increasingly important, the human element remains critical, particularly for clients with complex or multi-faceted financial needs. Digital brokerages should invest in advisor augmentation technologies that enhance the human expertise offered by wealth managers.<\/p>\n<p>These tools can help advisors manage larger client portfolios more efficiently, provide data-driven insights, and save time for more value-added activities such as financial planning and relationship building.<\/p>\n<p>&#8220;The role of the wealth manager will continue to evolve as technology plays an increasingly bigger role in the industry. As gatekeepers for their clients&#8217; wealth, wealth managers must balance innovation with the need to maintain trust, security, and compliance. They must also be agile, continuously adapting to new technologies and client preferences while preserving the core values that underpin their relationships with clients,&#8221; <span><span class=\"xn-person\">Ryan Wu<\/span> of Moomoo Singapore<\/span>\u00a0said.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>[1]<\/sup>\u00a0Professor Ben Charoenwong was formerly an Assistant Professor of Finance at the National University of Singapore during the preparation of this report. He has since commenced a teaching position at INSEAD. \u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><sup>[2]\u00a0<\/sup>HSBC &#8220;Understanding Asia&#8217;s emerging wealth landscape&#8221; <a href=\"https:\/\/www.gbm.hsbc.com\/en-gb\/insights\/international\/understanding-asias-emerging-wealth-landscape\" target=\"_blank\" class=\"prnews_a\" rel=\"nofollow\">https:\/\/www.gbm.hsbc.com\/en-gb\/insights\/international\/understanding-asias-emerging-wealth-landscape<\/a><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><b>About Moomoo Singapore\u00a0<\/b><\/p>\n<p>Moomoo Financial Singapore Pte. Ltd. (Moomoo Singapore) is an award-winning advanced financial technology company transforming the investing experience through our digitalised brokerage and wealth management platform \u2013 moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds a unique digitalised investment community to connect all users, investors, companies, analysts, media and key opinion leaders.<\/p>\n<p>Moomoo Singapore offers investment products for trading via the moomoo platform, and it is a capital markets services license holder regulated by the Monetary Authority of <span class=\"xn-location\">Singapore<\/span> (Licence No. CMS101000), Major Payment Institution (Licence No. PS20200617) holder with the Exempt Financial Adviser Status. In <span class=\"xn-chron\">April 2024<\/span>, Moomoo Singapore reached the 1 million users milestone in <span class=\"xn-location\">Singapore<\/span>.<\/p>\n<p>Moomoo Private Wealth offers bespoke investment strategies for HNW and institutional clients. Backed by its cutting-edge technology platform, Moomoo Private Wealth offers a portfolio of innovative investment products and has been recognised by Asia Banking and Finance for its product excellence.<\/p>\n<p>Our achievements include the Investment Tech of the Year award at the 2024 Asia Fintech Awards and the SIAS Best Retail Broker 2024.<\/p>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-14374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/14374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14374"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/14374\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}