Endowus, Asia’s leading digital wealth platform is committed to providing investors with the most professional and comprehensive wealth management products, offering best-in-market solutions to overcome the industry pain points of high cost and misaligned incentives which often lead to poor investment returns and outcomes. To this end, Endowus has provided over HK$17 million of trailer fees rebates to its clients, either in cash reimbursements or straight back into clients’ Central Provident Fund (CPF) and Supplementary Retirement Scheme (SRS) investment accounts.
Supported by global investors, Endowus has raised a total of HK$376 million in funding from firms such as UBS, SoftBank Ventures Asia and Samsung Ventures. As the firm looks to launch its wealth management and advisory service in Hong Kong by Q4 2022, Endowus announces today the appointment of Steffanie Yuen as its Head of Hong Kong, responsible for establishing and leading Endowus’ presence in the city
Gregory Van, CEO of Endowus said, “We are thrilled to achieve another key milestone in the growth of Endowus by bringing the first-ever ‘trailer fee-free’ digital wealth platform to Hong Kong, while also marking its expansion into its first overseas market. The shifts toward transparency in financial services and digitisation of wealth have generated opportunities for unstoppable momentum. Earlier this year, we received approval from the Securities and Futures Commission of Hong Kong (SFC) to offer wealth management and advisory services in the territory. This includes approval for licences under Types 1, 4 and 9, for dealing and advising in securities, and asset management. Endowus is delighted to welcome Steffanie to the leadership team. Steffanie has built up invaluable fintech and institutional finance experience over the last decade. Under her stewardship, I believe that Endowus will be able to provide a better wealth experience for clients in Hong Kong, as we have done in Singapore.”
With over 12 years of experience in fintech, wealth management and investment banking, Steffanie graduated Summa Cum Laude from New York University’s Stern School of Business and began her career in investment banking at Deutsche Bank and Barclays in Hong Kong. She joins Endowus from Value Partners, where she was responsible for leading the Group’s Direct Distribution, Marketing, Communications and Investor Relations functions and other key strategic growth initiatives. Prior to that, she was the Business Development and Strategic Partnerships Director at Alibaba’s fintech affiliate, Ant Group. She was responsible for driving strategic collaborations and partnerships with international financial institutions and Ant Group’s overseas e-wallet partners, which together serve over 1.2 billion global active users annually.
During her time with Ant Group, Steffanie also led the set-up of a joint venture between Vanguard and Ant Group in 2019, where she served as the Chief Marketing Officer and Head of Investor Advisory Service. The joint venture became the first independent fund investment advisor approved in China, and achieved over one million users in less than one year following its launch.
Steffanie said, “Our work in Singapore demonstrates that we are driving tangible change in the industry and creating value for our clients. Endowus’ fee-only model and the provision of 100% cashback on trailer fees will be a market first in Hong Kong. We hope that this unique model which Endowus has pioneered in Singapore will be impactful in helping clients in Hong Kong to manage both their private savings and public pension monies on our digital platform. I am humbled to be entrusted with overseeing Endowus’ first regional expansion, and look forward to working with the outstanding team to bring its mission of providing all investors access to the best-in-class investment products and expert investment advisory services at a low, fair cost to Hong Kong investors. Over time, we hope to be considered by clients in Hong Kong as an essential partner for wealth planning, and in boosting retirement adequacy.”
