Its expanded platform will include a new premium wealth management service, CONNECT Prime, and enhancements to its robo-adviser, CONNECT by Crossbridge.
Crossbridge Capital has announced a significant expansion of its digital and wealth management platform for affluent investors in Singapore.
According to a statement, the expanded platform will include a new premium wealth management service, CONNECT Prime, and enhancements to its robo-adviser, CONNECT by Crossbridge.
CONNECT Prime will have a minimum account size of SGD500,000–significantly below the SGD3 million–SGD5 million required by most private banks, the firm said.
It will offer a fully transparent fee structure - clients will pay a service fee of 75 basis points, approximately half that of many private banks and premier retail bank offerings.
CONNECT Prime will also offer a high level of portfolio oversight, including portfolio reports and real-time portfolio access, it said.
With the introduction of CONNECT Prime, Crossbridge said that it would make its robo-adviser, CONNECT by Crossbridge, further accessible to accredited investors by reducing the minimum investment required to open an account to USD1,500.
Launched in November 2016, CONNECT by Crossbridge offers actively-managed, goals-based portfolios and is available in English and Simplified Chinese versions.
CONNECT by Crossbridge, the firm said, will also be further enhanced by an Artificial Intelligence-based learning model.
"The People Like Me function uses machine learning algorithms and advancements in big data to help recommend goals and investing timelines to clients," the statement said. "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, according to the statement.
Crossbridge said that it already has over USD200 million in assets under management on the CONNECT digital platform.
Crossbridge Capital was launched in 2008 in London as an independent, investment advisory firm. It officially opened its first Asia office in Singapore after receiving approval from the Monetary Authority of Singapore (MAS) in 2010.
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