Goal-based investing experience with “Set, Track, Goal”
Unlike most wealth management products on the market which are risk-based, GoWealth is a goal-based wealth advisory solution. It connects the entire investment experience to client goals through an end-to-end advisory process, from financial planning and investment portfolio recommendations to fund transactions and financial goal tracking , all within the WeLab Bank app. For clients with clear financial goals, try to establish an investment habit or prepare for financial independence, in just 3 steps – “Set, Track, Goal”, everyone can capitalize on the power of technology and achieve financial goals on autopilot.
Tat Lee, Managing Director of WeLab Bank said: “Most existing wealth management services focus on affluent client segments; some relationship managers stop tracking and monitoring investment performance after clients purchase investment products. Understanding these points WeLab Bank is committed to digitizing and democratizing wealth advice through GoWealth. By providing end-to-end goal-based investing, we make it easy for everyone to access professional financial advice in our mobile app. , by launching GoWealth, we are proud to become from Asia 1st purely digital bank to launch a digital wealth advice solution1. We expect GoWealth to raise the bar for the wealth management industry and mark a milestone for the banking industry as a whole. »
WeLab Bank’s smart investment engine powered by AllianzGI
WeLab Bank is leading the way in digital wealth management services through GoWealth, leveraging its fintech experience and investment management expertise from AllianzGI. GoWealth’s unparalleled smart investment engine can instantly calculate “probability of success”2, providing investment recommendations and managing risk for clients in all circumstances. GoWealth’s investment recommendation is based on its 12 model portfolios, the smart engine runs simulations under 12,000 market scenarios and predicts their performance over the next 50 years3. Then it makes an investment recommendation that best suits the clients and has the highest probability of success4. To strengthen client risk management, GoWealth regularly updates the “probability of success”, making it easier for clients to understand the risks involved. It tracks the progress of clients’ financial goals and helps clients stay on track with smart alerts so they can manage their portfolios at their fingertips and gain traction in all market conditions.
AllianzGI Head of Institutional Affairs for Asia Pacific Philippe Tso said, “We are excited to partner with WeLab Bank and bring our expertise to more client segments via fintech. GoWealth leverages AllianzGI’s extensive portfolio simulation methodology and expertise in investment management. We believe we can work with WeLab to help democratize digital wealth management solutions for more clients in the city, helping them achieve their financial goals and needs.”
Start GoWealth with as little as HKD100 and take advantage of a special introductory offer
Clients can start their personalized investment plan from HKD100 via the GoWealth tab of the WeLab Bank app. To celebrate the public launch of GoWealth, all new clients can take advantage of seed funding up to HKD500 and full refund of subscription fee is given to all customers for their first HKD30,000 investment, the total repayment amount is equal to HKD23,0005!
For more details on GoWealth Digital Wealth Advisory Services, please visit the WeLab Bank website.
1According to market research conducted by WeLab Bank on May 26, 2022WeLab Bank is the first virtual bank independent from traditional banking groups to provide digital wealth advisory solutions in the major developed and emerging Asian markets below: hong kong, Japan, SingaporeMainland China, India, IndonesiaKorea, Malaysia, Philippines, Taiwan, Thailand and Vietnam.
2The “probability of success” is a statistical probability of reaching your target wealth at the end of the investment plan. It is calculated by simulating potential wealth growth based on the goal parameters you provided during the goal setting process, model portfolio allocation, and our capital market assumptions.
3GoWealth’s algorithm is based on the Portfolio Simulation Database containing 12,000 simulation paths for model portfolios projected over the next 50 years (i.e. 600 months), which reflects our forecast of the capital market on different asset classes and model portfolios in terms of risk, return and correlations.
4GoWealth’s investment engine will recommend a model portfolio with the highest probability of success and the lowest expected level of risk within the 2% probability of success buffer range.
5 By July 15, 2022open a WeLab Bank account with the reference code “INVEST” and an investment account and make your one-time investment in a model portfolio to take advantage of the WeLab Bank GoWealth Seed Money Welcome Offer (“Welcome Offer”) and get until HKD500 Seed Money as start-up funds. From now until September 30, 2022, invest in mutual funds with a minimum sales charge of 1.5% to take advantage of WeLab Bank GoWealth’s Cash Back Subscription Offer (“Subscription Offer”) and get the subscription and cashback. The investment amount will not include the amount of mutual fund redemptions made prior to the sales charge rebate and cash rebate accreditation. To qualify for the maximum rebate amount, new customers must meet both the Welcome Offer and Subscription Offer terms and conditions. The above offers are subject to terms and conditions. For details, please refer to the WeLab Bank website.
Disclaimer: The above information is provided for informational purposes only and does not constitute an offer, solicitation, recommendation, comment or guarantee to buy or sell investment products or services. Investment products or services are not equivalent to a term deposit and should not be treated as a substitute for it. Investing involves risk, the value of investment products may increase or decrease and investment products may even lose value. The above content has not been reviewed by the Securities and Futures Commission.
Welab Bank Limited (“WeLab Bank” or the “Bank”) is a local virtual bank licensed by the Hong Kong Monetary Authority (“HKMA”). Founded by a team of financial and technology experts, WeLab Bank’s mission is to understand customers’ needs and design a personalized and intelligent banking experience that helps them manage, save and grow their money. WeLab Bank represents a 100% digital banking experience that is simple, intuitive and built around our customers. WeLab Bank focuses on the powerful mobile app and numberless debit card, both designed with an obsession for customer experience and data security.
WeLab Bank is a wholly owned subsidiary of WeLab Holdings Limited (“WeLab”), a leading pan-Asian fintech platform. WeLab provides a wide range of digital financial services with leading positions in hong kongMainland China and Indonesiawith over 50 million individual users and over 700 corporate customers.
WeLab is backed by the most renowned investors, including Allianz, the International Finance Corporation (part of the World Bank Group), Malaysian sovereign wealth fund Khazanah Nasional Berhad, CK Hutchison’s TOM Group and Sequoia Capital.
For more information, visit www.welab.bank and www.welab.co. Follow WeLab Bank on Instagram: welab.bank.
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with over 700 investment professionals in 24 offices around the world and managing €637 billion of assets (Data as of March 31, 2022). We invest for the long term and seek to generate value for our clients every step of the way. We achieve this by being active – in the way we engage with customers and anticipate their changing needs, and build solutions based on public and private market capabilities. Our focus on protecting and enhancing our clients’ assets naturally leads to a commitment to sustainability to drive positive change. Our goal is to enhance the investment experience for clients, regardless of location or goals.
Asset is: Allianz Global Investors