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By Stephanie Leung, Chief Investment Officer, StashAway
After years of building careers and businesses, Asia’s emerging affluent have hit major wealth milestones. They’ve grown their wealth, made their first million (and more), and proved that they can make smart money decisions. But now they’re hitting a wall.
The challenge? Banks push expensive products they don’t need. They’ve tried brokerage apps everyone talks about, but these platforms demand more time and effort than they can spare. And private markets – which could accelerate their wealth – remain out of reach.
Here’s the dilemma: What got them to their first million won’t get them to ten million. They’ve outgrown retail banks, are overwhelmed by confusing brokerage apps, and don’t quite meet the minimums that private banks demand.
The wealth management gap that’s holding them back
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