October 12, 2017 (Hong Kong/Singapore)
Privé a globally-recognized leader in FinTech solutions, is proud to announce that it has wholly acquired WEALTH, Asia’s premier online marketplace of wealth services for affluent and high net worth individuals.
The acquisition bolsters Privé’s product offering, enabling the Hong Kong-based firm to create Asia’s first comprehensive technology platform for wealth service providers that encompasses prospect marketing, client acquisition as well as onboarding, CRM, portfolio management, reporting and execution.
Launched in 2016, WEALTH is an innovative and independent online marketplace through which investors can easily and efficiently find and connect with wealth service providers, including private banks, independent asset managers, financial advisors, trust specialists and tax advisors. Since its inception, WEALTH has facilitated transactions involving over US$350 million in assets between consumers and wealth service providers.
Charles Wong, CEO and Co-Founder of Privé Holdings, noted, “WEALTH adds client savviness to our product suite. We can now offer our B2B customers client acquisition strategies and design integrated prospect and client tech solutions based on WEALTH’s deep customer intelligence and know-how.”
Dominic Gamble, CEO and Founder of WEALTH, commented, “Privé adds the technology and industry reach that will help us accelerate our plans to be the leading portal for affluent individuals in Asia seeking to manage their wealth.”
The acquisition of WEALTH – following Privé’s recent selection by Deloitte as one of the top 20 fastest growing technology firms in Asia – further cements Privé’s position as a leader and one of the most recognized and awarded FinTech companies in the industry.
“The wealth management industry needs digitization. Our product offering is at the forefront of enabling the industry to achieve that. We also firmly believe in WEALTH’s mission to revolutionize wealth management for consumers. Together, we create one integrated platform that, in time, will collaboratively change the wealth management industry as we, both the industry and consumers, know it today,” Wong remarked.
Privé is also the firm behind the award-winning Privé Managers platform for global wealth and asset managers. This most recent recognition, in addition to past awards, has dramatically increased Privé’s brand-value in the FinTech industry. Prior awards for Privé include being selected as the 2017 Technology Provider of the Year for the Structured Products Asia Awards sponsored by Risk Magazine, and as a finalist in both the Singapore-based 2017 Global FinTech Hackcelerator Program and the 2017 Abu Dhabi FinTech Innovation Challenge. Privé was also selected as one of the top awardees in the Deloitte Technology Fast 20 Program in Hong Kong and was the only awardee among the TF20 participants in the robo advisory and wealth tech categories.
Privé has also been named the winner of consecutive Asian Private Banker Technology Awards in 2015 the 2016 as the Best Provider of External Asset Manager Solutions and the Best Robo Advisory Solution. It was also selected as an Asian representative for the prestigious FinTech 50 2016 publication and as one of only eight global startups to participate in the highly selective Accenture Innovation Lab Accelerator Program in 2016. In addition, Privé was recognized in the Top 50 Financial IT Pathfinder 2016/2017 Global Rankings. Among the recognized awardees, Privé was only one of two self-funded companies within the top 20. It was also one of only two FinTech companies recognized in the field of wealth management on the list.