More investors can access solutions once reserved for super rich using Arta platform
Former UBS CEO Ralph Hamers (left), who joined Arta as an external senior adviser, with Arta CEO Caesar Sengupta
SINGAPORE – A finance company founded and run by former Google executives is making high-powered wealth management tools and products usually reserved for the rich more widely available here.
Arta Finance chief executive and co-founder Caesar Sengupta said the company aims to offer personalised services and democratise wealth management, using artificial intelligence (AI) to create capabilities that have previously been the preserve of only the ultra-wealthy.
“There are millions of professionals like us in tech, finance, consulting, entertainment who fall into this massive gap between retail and private banking... all underserved,” he said.
Arta Finance, which was set up by former Google executives and backed by luminaries in technology and finance, launched its digital wealth platform globally in Singapore on Oct 11 – a year after its US debut.
The platform offers access to alternative assets, liquidity through credit lines and AI-driven investing in public markets, without the sales pressure, administrative burdens and high fees seen at some other institutions.
It also offers an option to support philanthropic giving in partnership with Co-Axis, a Temasek Trust initiative.
Arta’s platform is available to accredited investors in Singapore and international investors open to managing their wealth here. They can open a free account, with no minimum charges, in “just a few minutes”, Mr Sengupta said, adding that early members will get their first investment up to $100,000 managed free for life, with terms and conditions applicable.
The firm has ambitions to reach investors in other markets, including Mr Sengupta’s native India, where the number of super rich is growing.
“India will be huge,” he said.
An accredited investor in Singapore must have either a minimum income of $300,000 over the previous 12 months (or its equivalent in a foreign currency), or net personal assets exceeding $2 million. The net value of the primary place of residence can contribute only up to $1 million of this. An investor can also qualify if he has net financial assets exceeding $1 million, or if he holds that joint account with an accredited investor.
Besides catering to individual investors, Arta wants to help banks innovate faster and generate more revenue.
Abu Dhabi’s Wio Invest is the first financial institution to integrate Arta’s “wealth-as-a-service” platform into its own digital investment platform for Middle East clients, a move that is pending regulatory approval.
Arta’s new business-to-business offering was done with support from the venture building team of Singapore’s Economic Development Board, which worked closely with the firm during the early stages of the concept.
The cloud-based platform empowers partner banks to serve their clients better and meet evolving demands with faster time-to-market for innovative wealth management products, services and technology, Mr Sengupta said.
On Oct 11, former UBS CEO Ralph Hamers joined Arta as an external senior adviser, providing guidance as the company grows internationally. This is Mr Hamers’ first significant role since leaving the Swiss giant 18 months ago.
He has also taken a stake in Arta, joining more than 100 tech and finance names, including Mr Eric Schmidt, the former CEO of Google parent Alphabet, as early state investors, Arta said.
Arta emerged publicly in 2022 with the aim of exploiting the gap between brokerages offering commission-free trading on retail investing apps and private banking offerings which require customers to have more than US$10 million (S$13 million) in assets.
Singapore Minister of State for Trade and Industry Alvin Tan said Arta’s launch here reflects the growing opportunities for wealth management in Asia through Singapore. Mr Tan, who is also a Monetary Authority of Singapore board member, said growth momentum is strong, with the Asia-Pacific poised to expand by 4.9 per cent in 2025, faster than any other part of the world.
“Singapore is an excellent place to not just build wealth but also grow wealth. In fact, Singapore is capturing this growth as a strategic gateway to Asia, and we are a trusted financial centre and a destination for asset and wealth management,” he said at the launch.
Assets under management in Singapore hit $5.41 trillion as at Dec 31, 2023, a rise of 10 per cent over the previous year.
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