WRISE Prestige Partners with Kingkey Privilege Wealth Management to Expand Financial Offerings Across Asia

HONG KONG SAR - Media OutReach Newswire - 12 June 2024 - WRISE Prestige, a subsidiary of WRISE Group, today announced its strategic collaboration with Kingkey Privilege Wealth Management (Kingkey), a leading financial institution, to enhance cooperation and offer life insurance, over-the-counter (OTC) securities, and funds. This partnership is a key part of WRISE's strategy to deliver a comprehensive 360-degree wealth ecosystem for clients.

Launched in February 2024, WRISE Prestige aims to expand WRISE's reach to the mass affluent market and cater to the next generation of affluent individuals in the region. By 2030, Asia's middle class is expected to grow by over 3.5 billion people, with Southeast Asia's mass-affluent individuals forecasted to reach 136 million, driving a significant rise in demand for wealth management services for this segment.

WRISE Prestige and Kingkey will cross-leverage each other's networks and expertise through this newly established collaboration, with both parties' combined resources fuelling best-in-class product and service offerings and widening reach to a broader range of client segments across the region. Additionally, the collaboration will facilitate the exchange of expertise and industry knowledge, leading to a more comprehensive understanding of client needs and the development of innovative wealth management solutions across the wealth management industry.

"This partnership underscores our mutual commitment to providing accessibility of solutions that were previously reserved for ultra-high-net-worth (UHNW) individuals to the mass-affluent market," said Derrick Tan, Group Executive Chairman of WRISE Group. "By collaborating with Kingkey, we can offer a comprehensive 360-degree wealth ecosystem that combines wealth management, wealth planning and technology innovation offerings to serve a broader client base."

"Kingkey clients will benefit from enhanced offerings and capabilities through WRISE, a leading wealth management firm, with innovative services addressing the growing demand among the UHNWI and mass-affluent market across the region," said Kelly Yu, Chief Partnership Officer of Kingkey Privilege Wealth Management. "This partnership fosters a more inclusive and dynamic wealth management landscape, providing clients with access to WRISE's UHNW offerings and a wider range of wealth management solutions as their financial needs evolve."

To further solidify their commitment to bolstering the region's wealth management sector, WRISE and Kingkey have joined forces on a formal training programme – WRISE Academy. The premier educational platform aims to enrich independent wealth consultants and industry partners through comprehensive training programmes such as product training, investing ethics, and more, ensuring they are equipped with the latest knowledge and skills to deliver best-in-class wealth management services. WRISE Academy will also offer continuous professional development opportunities and foster a collaborative learning environment, ultimately building a highly skilled wealth management workforce across Asia.

The expanded offerings will initially be available to clients in Hong Kong before expanding to the broader region.

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