This partnership will focus on bringing unique investment solutions provided via FINNOMENA's digital platform as well as access to investment insights powered by Franklin Templeton Academy (FTA), an education programme which offers a comprehensive global investment curriculum.
FINNOMENA plans to expand their private banking target segment in the first quarter of 2021 with an initial customized portfolio (engineered by Franklin Templeton's Investment Solutions group) involving a minimum client outlay of THB10 million or about US$333,000. In the second half of 2021, FINNOMENA is looking to embark on an innovative and unique approach to goals-based wealth management with Franklin Templeton, targeted at the mass retail and affluent segment for clients with at least THB 500,000 or about US$16,660 in assets. The technology-enabled solution from Franklin Templeton reflects a patent pending approach to goal optimization, with further potential to broaden the use of this technology. 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.
FINNOMENA Group CEO, Jessada Sookdhis, said, "We are pleased to announce this partnership with one of the world's largest asset management companies to offer global investment knowledge and financial products through FINNOMENA's user-friendly technology. This collaboration has marked another milestone and is disruptive to the overall industry. Previously, only investors with at least THB50 million 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."
Dora Seow, Country Head of Singapore, who oversees Franklin Templeton South East Asia's (ex Malaysia) business said, "We are proud to elevate Thailand's leading digital wealth manager to the global arena by leveraging our investment and digital capabilities with FINNOMENA. It has been our shared belief that education and best-in-class financial solutions should be made simple and accessible to the public. In doing so, we look to create a positive impact to the investor community in Thailand."