WRISE

Singapore’s upcoming roll-out of the single-family office (SFO) framework will provide ultra-wealthy families with greater clarity, and attract those seeking certainty and transparency. However, the framework may not appeal to wealthy families who want simplicity and the best tax incentives. The new framework lays out the criteria for SFOs to qualify for licensing exemptions; introduces new notification and reporting requirements; and strengthens protections against potential money-laundering risks.   Gaven Koh, Head of Risk and Compliance at WRISE Group was quoted, sharing that that framework would streamline application or approval timelines, and attract more families to Singapore that are looking for transparency and certainty in the application process. For instance, Singapore’s SFO tax-incentive schemes are contingent on certain spending thresholds – an additional requirement compared with those of Hong Kong and Dubai.   Gaven notes that Singapore will have the most comprehensive framework compared to Hong Kong and Dubai, with Hong Kong lacking a dedicated framework for SFOs. This results in regulatory ambiguity, pushing families to structure their vehicles with care to avoid breaching any licensing requirements. This less-codified approach in Hong Kong may discourage families from setting up there.   Beyond tax incentives, Singapore has other schemes aimed at attracting global talent and investors. The Global Investor Programme (GIP) and the Overseas Networks & Expertise (ONE) Pass, for instance, draw talented individuals and capital owners. Read more here: https://lnkd.in/ghs6NhZ9 #WRISE #WealthManagement #FamilyOffice #SingaporeSFOFramework

The Monetary Authority of Singapore (MAS) has imposed a S$2.4m ($1.8m) fine on JP Morgan Chase for failing to prevent relationship managers' misconduct in over-the-counter (OTC) bond transactions between November 2018 and September 2019. The violations included incomplete or inaccurate disclosures, causing clients to be overcharged. Gaven Koh, WRISE Group Head of Risk and Compliance, emphasised the importance of due diligence, stating that "EAMs must compare OTC product pricing across counterparties to secure the best deals. At WRISE, we maintain transparency by providing clients with a pricing guide and regularly reviewing fees to ensure alignment." Read more here: https://lnkd.in/g4H8hb2W #WRISE #WealthManagement #FamilyOffice # #FinancialCompliance

WRISE has expanded its reach into the mass affluent market in Hong Kong by offering a range of wealth products.   Read more here https://lnkd.in/geiXqEWW about how Jingwei Chen shared WRISE’s approach to providing a new clientele group, with a minimum investment threshold of US$500,000, the same level of service and quality as private banking clients.   #WRISE #WealthManagement #FamilyOffice #HongKong #StructuredProducts

WRISE Group is at the forefront of reshaping the wealth management landscape as highlighted in The Asset's article on the top cities for building wealth: Dubai, Singapore, and Hong Kong. These three dynamic hubs are redefining wealth management with their unique advantages, from tax benefits to regulatory modernisation and cutting-edge infrastructure.    As Derrick Tan, WRISE Group Executive Chairman shared "Dubai is very interesting from the perspective of family offices moving here. They appreciate the safe environment that regulatory modernisation is creating. This transformation is not only about taxes, it’s redefining the wealth landscape."    Since its launch in July 2022, WRISE has achieved significant milestones, including completing two M&As in Hong Kong and expanding to a 400-strong global team across Singapore, Hong Kong, and Dubai. Through investments in AI-enabled technology and innovative platforms, exceptional service is delivered to clients worldwide.   Click here to read the full article: https://lnkd.in/gYcx4zMH    #WRISE #FamilyOffice #WealthManagement #Dubai #Singapore #HongKong 

As 2025 approaches, ultra-high net worth individuals (UHNWIs) face a dynamic economic environment shaped by inflation, technological advancements, and geopolitical shifts. Proactive strategies are essential to safeguard wealth and adapt to emerging opportunities.    Delve into the critical economic factors anticipated to influence 2025 and analyse how each trend could affect wealth management strategies for UHNWIs. https://lnkd.in/gMJPQEEh   #WRISE #FamilyOffice #WealthManagement #EconomicOutlook2025

Kevin Teng, CEO of WRISE Private Singapore, is featured in Citywire Asia's Independent Wealth Power Players 2024 Edition, which highlights the dynamic and rapidly evolving External Asset Manager (EAM) industry in the Asia-Pacific region. In this report, Kevin shares the transformative changes reshaping the wealth management landscape, including discretionary portfolio mandate penetration, AUM growth, and the adoption of cutting-edge technology.    As EAMs and multi-family offices (MFOs) challenge traditional private banks with conflict-free advice and innovative solutions, regulators are stepping in, urging these players to enhance their onboarding and due diligence processes, a sign that the industry is reaching critical mass. With the EAM sector experiencing rapid growth and reporting significant surges in assets under management, Kevin reflects on the challenges and opportunities ahead.    Read the full interview here: https://lnkd.in/gziCN5JU #WRISEPrivate #FamilyOffice #WealthManagement #Leadership #EAMIndustry

WRISE Prestige Chief Executive Officer Henry Shin and Chief Strategy Officer Ken Wong hosted a successful client event, 'Unveil Elegance: Exclusive Car Preview,' in collaboration with Harmony Auto, the official distributor of BYD Auto in Hong Kong, on November 21st.    The event welcomed over 25 esteemed clients for an exclusive showcase of BYD's premium model, the DENZA, alongside a lineup of flagship vehicles that exemplify innovation and sophistication. Clients also enjoyed a unique water-tasting workshop, offering a sensory journey of refinement and discovery.    Thank you to everyone who joined us. We look forward to hosting more client engagement events in the future.   #WRISEPrestige #ExclusiveEvent #ClientExperience #BYDAUTO #FamilyOffice #WealthManagement

WRISE Group has unveiled WRISE Prestige Middle East, expanding its private banking services to clients with a $1M investment threshold. This segment builds on the success of WRISE Prestige Hong Kong, catering to underserved HNWIs seeking transparent, tailored investment solutions. Derrick Tan, WRISE Group Executive Chairman, calls this launch a key step toward building a comprehensive wealth management ecosystem.    Click here to read more: https://lnkd.in/g7VQJUeC    #WRISEPrestige #FamilyOffice #WealthManagement #Dubai

WRISE Group has been recognised at the prestigious TOP 50 China Family Management Leaders Awards Forum with the "Family Office Vertical Service Capability Award" held in Shanghai. Co-hosted by 惠裕全球家族智库（Huiyu Global Family Office Think Tank）and FamilyOfficeMagazine, this award highlights our excellence in delivering vertical services within the family office sector.    WRISE Group Executive Chairman, Derrick Tan, expressed gratitude for this recognition, emphasising WRISE team's dedication to providing holistic wealth management solutions. “Over the past year, we have enhanced our services to deliver professional, personalised wealth management solutions, ensuring the growth and seamless inheritance of family wealth. We remain focused on advancing our vertical services and upholding industry-leading standards to support our clients in achieving sustainable wealth development.”   #WRISE #WealthManagement #FamilyOffice #AwardWinning

WRISE Group has won the Most Innovative Wealth Management Model award, with Derrick Tan receiving the Chairperson Award at the WealthBriefing MENA Awards 2024. These accolades mark significant milestones, reflecting the strong partnerships and trust cultivated with clients and partners.    With the wealth management sector evolving towards greater digital integration and personalised client services, WRISE aims to lead this transition. The focus remains on refining digital offerings and integrating comprehensive, client-centred financial strategies that help clients protect, manage, and grow their wealth to fulfil their dreams.    Derrick shared, “My success as Chairperson of WRISE Group is deeply intertwined with the dedication and talent of my colleagues. From the outset, commitment to our mission of simplifying wealth management and alignment with this vision has driven our growth and achievements. The resilience of the team in navigating market volatility, their adaptability, and their expertise in consistently delivering value have been crucial to our collective success.”    Looking ahead, the commitment to providing exceptional service and innovative solutions remains stronger than ever.    Thank you to everyone who has been an integral part of this journey. Here’s to continued achievements together!   #WRISE #WealthManagement #FamilyOffice #AwardWinning #WBMENA2024