Whitman launches the First Advisor- Driven Online Wealth Management App

Whitman Independent Advisors launches iWealth, Malaysia’s first advisor-driven online wealth management mobile application. Presented as a mobile application, iWealth seamlessly integrates bespoke advisory services with fintech innovation to deliver personalised wealth management solutions capable of helping Malaysians achieve financial freedom.

“Holistic wealth management was traditionally offered as a premium offline service to high net worth clients and the upper middle-class. iWealth’s arrival will democratise the wealth management industry and make it possible for every Malaysian to achieve financial freedom,” says Yap Ming Hui, Managing Director, Whitman Independent Advisors.

Yap adds, “iWealth’s low entry cost makes it more affordable and appealing to Millennials, as it supports them build their personalised roadmap to financial freedom. In the past, they may not have had the opportunity to do so due to the high advisory  fees charged and higher minimum asset requirement. Riding on technology, iWealth will deliver holistic financial solutions in a manner that suits the new generation of consumers, whose demand for greater convenience, accessibility and affordability is insatiable. Until now, there hasn’t been any fintech innovation in the market quite like iWealth which can proudly claim to help Malaysians grow their wealth in a holistic and affordable manner.”

iWealth addresses the lack of empowerment and financial foresight of today’s younger generation. Take for example, purchasing financial products such as life insurances, shares, unit trusts funds or properties. Due to limited financial resources, Millennials cannot afford to make mistakes when purchasing financial products that are not best aligned to their financial goals, nor products that would deplete their hard-earned money. Financial service providers who choose to sell products to unknowing consumers without first referring to their client’s roadmap to financial freedom further compound the situation.

iWealth seamlessly integrates offline holistic wealth management disciplines with a whole new online user experience. It aggregates, analyses, and organises financial information such as assets, liabilities, income, and expenses conveniently on the mobile app. Based on the user’s financial profile, iWealth highlights gaps and opportunities to improve one’s financial position as well as provide personalised strategies to achieve financial freedom. iWealth will even help users understand the impact of life events on personal finances (making a home purchase, starting a family and investments), by providing tangible step by step solutions to navigate these important decisions. Meanwhile, an annual report card is generated to help users’ gauge and measure their wealth management progress against the original recommendations. 

Yap foresees more enhancements being made to iWealth’s functionality to ensure that the app continues to capture evolving needs and solve consumer pain points. He says, “The digitisation of advice is inevitable and we are excited to be at the forefront of that journey.  The future of wealth management is about empowering people to have full visibility of their financial position. In addition, our technology can advise people on what to do, therefore removing the uncertainty that exists in day-to-day financial decision-making.”

iWealth is FREE to download on iOS and Android. For a small and affordable fee of RM480 a year, users can subscribe to the iWealth+ package and enjoy step by step guide and holistic wealth management strategies developed by professional wealth managers anytime, anywhere.

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