WRISE Wealth Management has struck a strategic alliance with Thailand’s IFCG Public Company Limited as the Singapore-headquartered group pushes deeper into Southeast Asia’s fast-growing private wealth market and Thai clients look beyond traditional bank offerings for global exposure.
The partnership will combine WRISE’s investment and insurance platform and technology with IFCG’s on-the-ground distribution, which the Thai firm says includes more than 400 professional wealth advisers serving high-net-worth, mass affluent and corporate clients.
WRISE said the tie-up is aimed at a market where demand is rising for “transparent” and more sophisticated advice, but where services remain fragmented and access to international products is limited.
The company said Thailand’s private wealth market is expected to exceed $1 trillion by 2028.
Derrick Tan, WRISE’s group executive chairman, described Thailand as a “cornerstone” market and said the alliance would broaden access to “institutional-grade” solutions that have typically been associated with private banks, offering clients cross-border capabilities similar to what WRISE provides in hubs such as Singapore and Hong Kong.
IFCG CEO Withoon Lertpanomwan said the firms would pair global product access with local knowledge and technology, while structuring offerings to comply with Thai regulations.
WRISE said it does not hold a securities licence in Thailand and that any regulated services would be provided by appropriately licensed entities, including IFCG.
The move adds to a string of regional expansion steps by WRISE, which operates across multiple Asian financial centres and recently opened a client service centre in Taiwan, according to industry publications.
Thailand has been attracting more attention from global asset managers as the local wealthy population grows and investors seek private-market and offshore diversification, a trend flagged by market studies cited by Thai media.
Business News Asia
