EBC Financial Group sees ‘immense potential’ in Aussie HNWs
EBC Financial Group has strengthened its presence in Australia with a second Australian Financial Services Licence (AFSL).
The global financial services firm was established in London and has additional offices in Sydney, Tokyo, Singapore and Hong Kong, providing asset management, brokerage and investment immigration services.
EBC has expanded its global footprint and existing presence in Australia by obtaining a second AFSL for its asset management division. This move complements its existing AFSL for general financial advice, the firm stated, in which it previously delivered a range of financial products and services to both retail and wholesale clients.
The second licence will enable EBC to provide specialised investment solutions to high-net-worth (HNW) clients through a comprehensive range of investment strategies across real estate, fixed income, equities and alternatives, such as private equity and venture capital funds.
According to Praemium and Investment Trends, approximately 690,000 individuals are now classified as HNW, up nearly 9 per cent from 635,000 in 2023. This cohort collectively manages $3.4 trillion in investable assets.
EBC’s asset management AFSL means it is now poised to capitalise on this investor segment, the group highlighted, by providing investment strategies that specifically cater to their wealth management needs. This includes family office solutions and international investment products, as well as helping clients navigate cross-border regulations.
“We see immense potential in Australia’s growing high-net-worth segment,” commented Kris Wang, EBC’s country head for Australia.
“Our goal is to leverage our global expertise to help investors optimise their portfolios through diversified and innovative investment strategies. We also plan to expand our services to include family office management and other global investment products in the near future.”
Moreover, the financial services firm is now authorised to facilitate financial products, including issuing, applying for, acquiring, varying or disposing of interests in managed investment schemes and securities.
Wang continued: “The acquisition of this licence reflects our commitment to maintaining the highest regulatory standards while broadening our asset management capabilities. We are dedicated to delivering a diversified and robust investment portfolio designed to meet the varied requirements of high-net-worth individuals and institutional investors.”
Praemium’s research previously explored HNWs’ growing interest in private markets. It revealed that 146,000 HNW individuals are currently investing in the asset class, with 32 per cent planning to increase their investments in the next year.
“This indicates an opportunity for advisers to provide essential education on the risks and rewards of private market investments, helping clients understand the due diligence process and set realistic expectations,” the report said.
AUTHOR
Jasmine Siljic
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