Whitman Independent Advisors launched iWealth, Malaysia\u2019s first advisor-driven online wealth management mobile application.<\/p>\n
Presented as a mobile application (app), iWealth integrates bespoke advisory services with fintech innovation to deliver personalised wealth management solutions capable of helping Malaysians achieve financial freedom.<\/p>\n
\u201cHolistic wealth management was traditionally offered as a premium offline service to high net worth clients and the upper middle-class.<\/p>\n
\u201ciWealth\u2019s arrival will democratise the wealth management industry and make it possible for every Malaysian to achieve financial freedom,\u201d said Yap Ming Hui, managing director of Whitman Independent Advisors.<\/p>\n
Yap added iWealth\u2019s low entry cost makes it more affordable and appealing to Millennials, as it supports them build their personalised roadmap to financial freedom.<\/p>\n
\u201cIn the past, they may not have had the opportunity to do so due to the high advisory fees charged and higher minimum asset requirement.<\/p>\n
\u201cRiding on technology, iWealth will deliver holistic financial solutions in a manner that suits the new generation of consumers, whose demand for greater convenience, accessibility and affordability is insatiable.<\/p>\n
\u201cUntil now, there hasn\u2019t been any fintech innovation in the market quite like iWealth which can proudly claim to help Malaysians grow their wealth in a holistic and affordable manner,\u201d continued Yap.<\/p>\n
He explained iWealth\u2019s compelling value proposition is going back to basics and offering the user a holistic, and tangible roadmap to help them achieve their financial freedom.<\/p>\n
Without a roadmap to act as a guide, it is very challenging and almost impossible for anyone to achieve financial freedom in a structured manner, let alone make any financial decisions that would positively impact them in the future, said Yap.<\/p>\n
Based on the user\u2019s financial profile, iWealth highlights gaps and opportunities to improve one\u2019s financial position as well as provide personalised strategies to achieve financial freedom.<\/p>\n
iWealth will even help users understand the impact of life events on personal finances (making a home purchase, starting a family and investments), by providing tangible step by step solutions to navigate these important decisions.<\/p>\n
Meanwhile, an annual report card is generated to help users\u2019 gauge and measure their wealth management progress against the original recommendations which is in short, a roadmap to financial freedom at your fingertips.<\/p>\n
\u201cThe digitisation of advice is inevitable and we are excited to be at the forefront of that journey.<\/p>\n
\u201cThe future of wealth management is about empowering people to have full visibility of their financial position and in addition, our technology can advise people on what to do, therefore removing the uncertainty that exists in day-to-day financial decision-making\u201d Yap remarked.<\/p>\n
\u201cWhat is going to set us apart from current online wealth management products is our hybrid offering which is unlike robo advisors, iWealth would provide some hand holding support in the form of human licensed wealth managers who are available to assist users with their annual action plan implementation and ensure that users keep track with what they set out to achieve.<\/p>\n
He concluded after all, who is better at handling human emotional challenges than a fellow human? Most robo-advisors for example, do not have a human wealth manager to hold your hand and provide assurance after a significant market correction.<\/p>\n
iWealth is free to download on iOS and Android but for a small and affordable fee of RM480 a year, users can subscribe to the iWealth+ package and enjoy step by step guide and holistic wealth management strategies developed by professional wealth managers anytime, anywhere.<\/p>\n
The service includes access to your personalised financial document such as income and expense statement, balance sheet and strategic asset allocation statement.
Services will also include financial health check and a tailor-made roadmap to financial freedom.<\/p>\n
Other than it includes custom-made action plan with strategies to help achieve your desired financial freedom as well as an annual report card to measure your wealth management progress.<\/p>\n
Finally, it provides online consultation sessions with a dedicated wealth manager.<\/p>\n
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