“Private banking for the rest of us”
Crossbridge Capital unveils expanded CONNECT digital and wealth management platform targeting accredited private client investors in Singapore
- Introduces CONNECT Prime premium wealth management service
- Enhances CONNECT by Crossbridge, Singapore’s first and largest robo-adviser, with new Artificial Intelligence features
- Brings greater choice, convenience and private banking level products and services to affluent investors
Singapore, 14th May 2018 – Crossbridge Capital (“Crossbridge”), the leading independent investment advisory firm with over $3 billion under advisement, today announced a significant expansion of its digital and wealth management offerings for affluent investors in Singapore.
The expanded platform will include the new offering of premium wealth management service CONNECT Prime, significant enhancements to Singapore’s first digital robo-adviser CONNECT by Crossbridge, and is complemented by Crossbridge Capital’s existing wealth management and advisory services for high net worth and ultra high net worth investors. Crossbridge already has over US$200 million in assets under management on the CONNECT digital platform.
The integrated suite of services will bring private banking level products to accredited, priority banking and private client segment customers – supported by intuitive and easy to use digital interfaces. The fee structures are lower than those typically charged by priority banking services and private banks.
“In the wealth management industry the best investment choices and most favourable fee structures tend to be the preserve of the wealthiest private banking clients. Our vision for the CONNECT platform leverages technology, along with our long experience servicing the high net worth segment to bring private banking level products and services to the much wider mass affluent market. We aim to redefine the wealth experience with CONNECT by enabling investors to access better choices, products, advice and service,” said Charlie O’Flaherty, Partner and Head of Digital Strategy & Distribution at Crossbridge Capital. “Along with our digital offering, CONNECT by Crossbridge, the introduction of CONNECT Prime allows us to truly deliver on our promise of ‘private banking for the rest of us.’”
Crossbridge Capital today introduced CONNECT Prime, a premium wealth management service, fully digitally-enabled, with a minimum account size of SGD$500,000 – significantly below the $3 million – $5 million required by most private banks. CONNECT Prime also offers a fully transparent fee structure – clients pay a service fee of 75 basis points, approximately half that of many private banks and premier retail bank offerings.
As an MAS-licensed wealth manager, Crossbridge Capital already offers clients an extensive range of private banking level products. With CONNECT Prime, clients will have access to a Crossbridge wealth manager who can assist with portfolio construction supported by an extensive range of investment choices.
CONNECT Prime also provides high level of portfolio oversight, including portfolio reports and real-time portfolio access through an intuitive digital interface that puts the customer in control of their investments.
CONNECT by Crossbridge
The introduction of CONNECT Prime enables Crossbridge Capital to make CONNECT by Crossbridge even more accessible to accredited investors by reducing the minimum investment required to open an account to US$1,500.
Crossbridge also unveiled a number of customer experience enhancements to make investing on CONNECT by Crossbridge, Singapore’s first and largest digital advisory platform, even easier and more intuitive.
CONNECT by Crossbridge will be the first in South-East Asia to introduce an Artificial Intelligence based learning model. The People Like Me function uses machine learning aglorithms and advancements in big data to help recommend goals and investing timelines to clients. The Walk of Life function tracks life goals visually on a timeline giving investors an instant overview of the status and health of their financial plan. A new multi-currency investment option has also been added.
Launched in November 2016 CONNECT by Crossbridge already offers actively-managed, goals-based portfolios tailored to clients’ objectives and is available in English and Simplified Chinese versions.
“CONNECT by Crossbridge and CONNECT Prime represent a new approach to wealth management for investors that is highly complementary to our existing wealth management business,” added O’Flaherty. “We think that accredited investors can be better served and deserve to have access to premium products, transparent fee structures and convenient portfolio access.”
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About Crossbridge Capital
Crossbridge Capital was launched in 2008 in London with a vision to create an independent, investment advisory firm that offers a fully integrated financial services platform to entrepreneurs and families in Emerging Markets worldwide. Today, backed by two of the world’s leading banks as minority investors, Crossbridge Capital operates in many of the world’s leading Emerging Markets supported by a team of 34 professionals in four Crossbridge Capital locations: London, Singapore, Monaco and Malta. After its successful launch in London with authorisation and regulation by the Financial Conduct Authority (FCA), in November 2010 Crossbridge Capital officially opened its first Asia office in Singapore after receiving approval from the Monetary Authority of Singapore (MAS). In May 2016 the company opened its doors in Monaco after receiving authorisation from the Commission for the Control of Financial Activities (CCAF). These signaled significant landmarks in the company’s history and set the bar for its ambitious, yet considered geographic and client engagement growth strategy.
More information can be found at www.crossbridgecapital.com.
About CONNECT by Crossbridge
CONNECT by Crossbridge is Singapore’s first and largest robo-adviser, launched in November 2016. Developed in collaboration with top-tier industry providers, CONNECT by Crossbridge is an intuitive digital platform offering tailored investment strategies to accredited investors in Singapore. Having a U.S.-regulated entity as custodian means that U.S. expatriate investors are also eligible to invest on the platform. CONNECT by Crossbridge uses actively managed Certificates as the investment vehicle for investors’ portfolios. Banque Julius Baer, one of Switzerland’s leading private banks, provides and issues these Certificates. Each CONNECT Certificate is built around its unique investment strategy, formulated in partnership with Morningstar, and may hold individual securities, commodities, exchange traded funds, or other alternative assets – all chose to provide optimal returns at every level of risk.