Thailand-based digital wealth platform Finnomena hopes the business partnership with Franklin Templeton will extend its role in the country’s private banking sector.
The collaboration will give Finnomena access to Franklin Templeton’s technology to offer customised portfolios in its bid to target the mass retail and affluent investor segments.
In the first quarter of 2021, minimum client outlays will be THB10m (£243,564, $333,000, €276,395), and in the second half of this year, the minimum requirement will be reduced to THB500,000.
Jessada Sookdhis, Finnomena chief executive, said: “Previously, only investors with at least THB50m worth of investment were eligible to experience solutions from global asset management companies.
“Through this partnership, we have significantly lowered the minimum investment sum, and will offer both financial products and investment knowledge to all our clients in Thailand.”
Portfolios
The portfolios will be engineered by Franklin Templeton’s investment solutions group, and clients will also be able to receive investment ideas and research from the Franklin Templeton Academy, an education programme.
“Investors will be able to perform portfolio analysis and view insights on their customised portfolios, which was previously accessible only to high-net-worth individuals in Thailand,” said a Finnomena spokesman.
Besides operating a digital investment platform, Finnomena provides analysis tools and runs a Supermart service. Founded in 2016, it claims to have more than 3.4 million platform visits per month and over 300,000 subscribers as it aims to reach $1bn (£730m, €830m) in assets under advisement.
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