Singapore-based WRISE Group has set up its new wealth management business in Hong Kong to serve the region’s ultra-high-net-worth individuals (UHNWIs) and their family offices.

Dubbed WRISE Wealth Management Hong Kong (WRISE WM), the new unit will offer solutions through a single and tailor-made platform that combines technology with insights.

The platform is capable of reducing complexity in wealth management activities and price load for the company’s UHNWI clients.   

WRISE WM aims to tap the growing number of family offices coming up throughout the Asia-Pacific region, according to the company.

WRISE Group chairman and CEO Derrick Tan said: “There are today, more UHNWIs in the Greater China region than ever before, so it is critical we have a physical presence in these markets to better address our clients’ wealth management needs.

“Hong Kong, being the gateway to Greater China, is a natural choice for setting up this office, which is the second to launch following the establishment of our Singapore office in July last year.

“We are pleased to have Marcus Wong, a financial veteran who has won numerous awards, join WRISE WM Hong Kong as our Vice Chairman.”

WRISE Group further noted that its newly launched business is based on a two-way strategy that includes digital and advisory elements.

The digital portion is driven by TREX, WRISE’s core wealth system that has been designed to streamline data from various client investment portfolios to offer a detailed overview of his total wealth.

The advisory component of the business includes a team that will provide its clients with diverse solutions, such as wealth planning, trust and corporate services.