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May 2, 2022

DriveWealth enhances DriveAdvisory platform

US-based fractional investing and embedded finance company DriveWealth has enhanced its DriveAdvisory platform that allows partners to integrate financial advisory products into their apps.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

DriveAdvisory was launched in December 2021 as an SEC-registered independent adviser.

The enhanced capabilities of the platform will enable partner firms to leverage DriveWealth’s APIs to provide embedded advisory tools to customers.

DriveAdvisory offers a hands-on consulting programme for the partner firm to ensure that they offer an embedded investing experience that caters to the needs of their customer base.

DriveWealth CIO Harry Temkin said: “At DriveWealth, we listen to all of our partners – and many told us they need a better way to offer advisory services to their customers.

“The creation of DriveAdvisory is in direct response to our partners’ needs. This enables us to offer more integrated investing and advisory experiences for our partners, helping to drive customer acquisition, loyalty, retention, and revenue growth.”

DriveWealth offers a spectrum of cloud-based and API-driven solutions to enable investments.

Last year, the firm raised $450m in a Series D funding round to bolster its footprint in embedded investing and support product and service expansion and hire new talents.

In 2020, INDmoney, an Indian artificial intelligence (AI) and machine-learning-based wealth management platform, forged an alliance with DriveWealth to offer US stock investing technology to its clients.

Latest developments in fintech space

This March, European fintech firm Petale launched a digital investment fund that combines blockchain, personal finance, and asset management segments.

The same month, Dubai-based asset management and investment banking platform Shuaa Capital picked a controlling stake in Souqalmal as part of its strategic investment in the fintech firm.

In February, French fintech Finary raked in €8m in a new financing round to fund its strategic plan to build a modern private bank. 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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