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October 14, 2021

Japan’s Monex to foray into wealth management space

By Verdict Staff

Japanese online brokerage Monex is set to enter the wealth management space to serve increasing client demand.

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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.

The new services will be launched by the firm through its newly established Private Wealth Department.

Monex previously offered in-person consultation to its customers through independent financial advisers (IFA).

This model was used by the firm to make available its product line-up as well as securities operations to the wealthy customers through both online transactions and in-person marketing.

The latest development comes as the firm registers steady growth in the assets under management accumulated through IFAs.

Monex said that its wealth management service will focus on protecting the value of clients’ assets and offer in-person marketing to high-net-worth (HNW) individuals.

Announcing the new service, the company said in a statement: “Monex recognises the need for stable and robust services in this area, as the wealth management in Japan, often primarily offered by foreign financial institutions, has a history of restructuring and reorganisation among players.

“Monex is committed to its goal of offering the wealth management services that protect the value of customers’ assets and of becoming a customer-centric asset/wealth manager.”

The company divulged that its newly hired head of Private Wealth Department will assume the role from next week.

Monex operates several brokerages and crypto exchanges in Japan.

The firm entered the cryptocurrency market in 2018 with the acquisition of cryptocurrency exchange Coincheck.

Other recent moves in Japan’s financial space

In August this year, a wealth management joint venture between UBS and Sumitomo Mitsui Trust Holdings started operations in Japan.

This May, Bloomberg reported that Japanese brokerage Daiwa is planning to expand Chinese business with the aim of capitalising on evolving asset-management space.

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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