WeLab Bank, a prominent digital bank in Asia, has recently announced an expansion of its wealth management services with the launch of a new Featured Fund Platform. This move comes after the bank entered the wealth management business last year, pioneering a personalized and intelligent investment experience for tech-savvy customers. Let’s take a closer look at the key features and benefits of WeLab Bank’s new Featured Fund Platform.
A growing number of customers and investments
Since the launch of their wealth management services, WeLab Bank has seen a significant uptake in the number of customers using their platform. Over 10,000 customers have activated their wealth management accounts, and the number of users and investment amounts is growing rapidly. Recognizing the need for a simpler and more direct fund investment experience, WeLab Bank has launched a new Featured Fund Platform to cater to their customers’ evolving needs.
Introducing the Featured Funds Platform
The Featured Fund Platform is a game-changer for the market, enabling customers to adjust their investment portfolios depending on the market conditions without incurring additional costs, saving nearly 90% in transaction costs compared to other traditional platforms. The platform offers 20 investment themes in the launch phase, covering funds across multiple asset classes, including AI technology, health science, ESG, and more. By partnering with top fund managers worldwide, including Allianz Global Investors, BlackRock, Fidelity, Invesco, Janus Henderson, J.P. Morgan Asset Management, PIMCO, and Schroders, WeLab Bank ensures that its customers have access to popular investment themes that align with their investment goals.
Monthly Fee Model
One of the key features of WeLab Bank’s Featured Fund Platform is its monthly fee model. This fee model is a unique and innovative way of charging customers, whereby they are charged an ultra-low flat monthly fee of just 0.08% based on the total value of their selected funds. This low fee model is a stark contrast to the commission-based models employed by traditional wealth management platforms, where investors are often charged high transaction fees, making it difficult to adjust their portfolios or seize market opportunities without the transaction fee hurdle. With the new fee model, customers can now seize every market opportunity without worrying about transaction costs.
Waiver of all fees
In an effort to boost adoption, WeLab Bank has announced that it will waive all fees from today until August 4, 2023. This offer gives all their customers an opportunity to experience the new Featured Fund Platform without incurring any additional costs.
WeLab Bank’s Featured Fund Platform is a testament to its commitment to providing innovative and customer-centric financial solutions. By offering a simpler and more direct investment experience, an ultra-low flat monthly fee, and waiving all fees, WeLab Bank has set itself apart from other traditional wealth management platforms. With its partnership with top fund managers worldwide, customers can be assured that they have access to popular investment themes that align with their investment goals. WeLab Bank is a bank that understands the industry is headed in a new direction, and it’s ready to guide its customers towards that future.