Asset manager abrdn and fintech firm FNZ have launched a multi-distributor wealth platform for Asia, beginning with the Singapore market.

The digital platform seeks to help financial advisers execute high-quality investment advice more efficiently and at a lower cost, resulting in better investment outcomes, the companies say. It is capable of both discretionary portfolio management and self-directed solutions through the adviser/client portal or standardized wealth API (application programming interface).

Abrdn and FNZ have successfully partnered in the United Kingdom since 2005, developing a state-of-the-art platform for financial advisers that has grown to £75.2 billion (US$94.26 billion) in assets under administration, making it one of the leading platforms in the UK.

The platform provides financial planning solutions and technology for UK financial advisers, enabling them to create value for their businesses and their clients. It offers a combination of tools and services tailored to their needs, including access to investment solutions that abrdn offers as well as a wide range of open-architecture investment options.

Asia ex-Japan is expected to surpass the United States in financial wealth by 2025, and the number of millionaires across the region is forecast to more than double by the end of the decade – increasing from approximately 30 million to over 76 million, the companies say, citing HSBC Global Research 2022. This significant growth presents an immense business opportunity for cutting-edge technology solutions in the wealth management sector, catering to the scalable needs of financial intermediaries.