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High-net-worth Investors Are Embracing Tech To Grow Their Wealth: Moomoo Singapore Survey

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These investors are more confident in utilising wealth-tech to make their investment decisionsAs gatekeepers for their clients’ wealth, wealth managers must evolve to meet the needs of an increasingly sophisticated investor

SINGAPORE, Dec. 4, 2024 /PRNewswire/ — High-net-worth investors are now demanding more integrated wealth management solutions, according to data from a survey of more than 800 Moomoo users in Singapore and that of its sister brand Futubull in Hong Kong. These individuals, who have investable assets of at least S$1 million, are increasingly embracing technology to preserve and grow their wealth.

The survey, which was conducted jointly with Professor Ben Charoenwong of INSEAD[1] and Professor Alan Kwan of the University of Hong Kong, focused on the role of wealth-tech, or financial technology tailored to the wealth management sector.

Nearly 7 in 10 investors across all wealth classifications are at least moderately comfortable with using technology to manage finances, the survey found. Yet, contrary to conventional wisdom, wealthier clients, rather than those with lower wealth levels, are more receptive to automated solutions.

“Wealth management has traditionally been characterised by its high human touchpoint, with its highly personalised and face-to-face interactions between clients and their financial advisors. These high-net-worth individuals typically lead successful and busy lives, traditionally relying on the expertise of wealth managers to navigate the investment landscape and manage their portfolios,” Ryan Wu, Head of Private Wealth and Institutional Business, Moomoo Singapore, said.

“But that’s changing rapidly. As technology evolves and client preferences shift, these clients now expect hybrid advisory services, combining the best of technology and the human touch. This creates opportunities for digitally native firms providing wealth management services,” Rainie Miao, Managing Partner of Institutional and Private Wealth Services, Futu Group, noted.

Digital-first approach – but don’t forget the human

Amid this shifting landscape, financial services firms have to adopt embedded digital services to meet the needs of their clients, particularly when it comes to emerging high-net-worth individuals within the millennial population.

The survey also revealed the top three key digital features desired by wealthy clients in Singapore and Hong Kong:

Holistic portfolio tracking and performance analysis tools, highlighting the importance of comprehensive wealth management solutions that provide investors with a holistic view of their financial portfolio.Integration with existing financial accounts and platforms, emphasising the demand for seamless connectivity between various financial platforms and services, aligning with the trend toward open architecture and API integrations in wealth-tech.Automated personalised investment advice, reflecting a growing acceptance of robo-advisory services and exploration of AI-driven recommendations.

“Across the region, there is a clear shift towards digitally integrated, comprehensive wealth management solutions that leverage automation. Wealth-tech providers and digital brokerages looking to be at the forefront of this transformation should prioritise these offerings to meet the demands of investors in these markets,” Rainie Miao of Futu Group added.

Asia remains a key market for the private wealth management industry. In particular, regional financial hubs such as Hong Kong and Singapore are expected to continue their rapid growth in the years ahead. According to a recent report by HSBC, total financial assets in Asia will grow from $46.8 trillion in 2020 to $68 trillion by 2025[2].

In addition, a major transfer of wealth to the younger generation that now are more technologically savvy has been driving the ongoing shift in preference towards digital channels for the delivery of wealth solutions and services.

Yet, while the role of technology in wealth management has become increasingly important, the human element remains critical, particularly for clients with complex or multi-faceted financial needs. Digital brokerages should invest in advisor augmentation technologies that enhance the human expertise offered by wealth managers.

These tools can help advisors manage larger client portfolios more efficiently, provide data-driven insights, and save time for more value-added activities such as financial planning and relationship building.

“The role of the wealth manager will continue to evolve as technology plays an increasingly bigger role in the industry. As gatekeepers for their clients’ wealth, wealth managers must balance innovation with the need to maintain trust, security, and compliance. They must also be agile, continuously adapting to new technologies and client preferences while preserving the core values that underpin their relationships with clients,” Ryan Wu of Moomoo Singapore said.

[1] Professor Ben Charoenwong was formerly an Assistant Professor of Finance at the National University of Singapore during the preparation of this report. He has since commenced a teaching position at INSEAD.  

[2] HSBC “Understanding Asia’s emerging wealth landscape” https://www.gbm.hsbc.com/en-gb/insights/international/understanding-asias-emerging-wealth-landscape

About Moomoo Singapore 

Moomoo Financial Singapore Pte. Ltd. (Moomoo Singapore) is an award-winning advanced financial technology company transforming the investing experience through our digitalised brokerage and wealth management platform – moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds a unique digitalised investment community to connect all users, investors, companies, analysts, media and key opinion leaders.

Moomoo Singapore offers investment products for trading via the moomoo platform, and it is a capital markets services license holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000), Major Payment Institution (Licence No. PS20200617) holder with the Exempt Financial Adviser Status. In April 2024, Moomoo Singapore reached the 1 million users milestone in Singapore.

Moomoo Private Wealth offers bespoke investment strategies for HNW and institutional clients. Backed by its cutting-edge technology platform, Moomoo Private Wealth offers a portfolio of innovative investment products and has been recognised by Asia Banking and Finance for its product excellence.

Our achievements include the Investment Tech of the Year award at the 2024 Asia Fintech Awards and the SIAS Best Retail Broker 2024.

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Pastor taking flat earthers to Antarctica to end the debate

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DENVER, Dec. 4, 2024 /PRNewswire/ — A pastor from Colorado hopes to end the debate over the shape of the Earth. Pastor Will Duffy’s plan? To bring both flat earthers and globe earthers to Antarctica! On December 14th, four flat earthers and four globe earthers will fly to Antarctica for what is being labeled The Final Experiment.

“I created The Final Experiment to end the debate over the shape of the Earth…once and for all.” –Will Duffy

On the globe, Antarctica is an island continent at the southernmost part of the world. But on a flat earth, Antarctica is an ice wall that encircles all the other continents and holds in all the world’s oceans. For years, flat earthers have said that Antarctica holds the key to proving the Earth is flat. But not a single flat earther has ever been to Antarctica. The-Final-Experiment.com Why not? They said the Antarctic Treaty of 1959 prevented them from going. And one of the reasons they believe the Antarctic Treaty was put in place was to specifically prevent people from visiting Antarctica during the summer, which is right now in the southern hemisphere. Visiting Antarctica in the summer is important because on the globe, the sun should not set in much of Antarctica during the summer due to the tilt of the Earth. But on a flat earth, since Antarctica is an ice wall encircling the rest of the world, the sun must rise and set each day. It could never circle in the sky all 24 hours, like it does in Antarctica.

A little over three years ago, Pastor Will Duffy was made aware that people still believe the Earth is flat when a longtime friend of his posted about it on Facebook. And he decided to take matters into his own hands. Since flat earthers said for years that Antarctica will show the world the truth about the shape of the Earth, Duffy decided the easiest solution would be to just go to Antarctica. Will Duffy added, “I created The Final Experiment to end this debate, once and for all. After we go to Antarctica, no one has to waste any more time debating the shape of the Earth.” https://www.youtube.com/@The-Final-Experiment

On December 14th, Duffy and the other eight participants of The Final Experiment (four flat earthers and four globe earthers) will fly with Antarctic Logistics & Expeditions to Union Glacier, Antarctica. As soon as they get off the plane and onto the ice, the clock will start. For the next 24 hours, they will monitor and film the sun. If it stays in the sky for 24 hours, the globe is confirmed. The real question is: will the flat earthers change their mind?

MEDIA CONTACT:

Will Duffy
720-432-9455
thefinalexperiment2024@gmail.com
The-Final-Experiment.com

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Targus Expands Its Collection Of EcoSmart Laptop Bags And Tech Accessories Equipping People To Do More With Their Technology While Helping To Protect The Planet

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Demonstrates company’s continued commitment to creating a more sustainable future while delivering solutions designed to make the complex, simple

ANAHEIM, Calif., Dec. 4, 2024 /PRNewswire/ — Targus®, the number one third-party docking station and laptop case brand in the US1 and a leader in mobile computing accessories, today announced that it has expanded its EcoSmart laptop bags and tech accessories, further demonstrating its commitment to making sustainable, long-lasting products that help people and businesses do more with their technology.

The company’s latest additions include new laptop cases and tech accessories bundles designed for sustainability, including a new GeoLite™ EcoSmart® Collection, which includes a sleek, slim backpack and briefcase, an ultra-durable and versatile 15-16″ Terra EcoSmart® Backpack, and EcoSmart™ mice/keyboard bundles designed for sustainability and superior ergonomics.

“At Targus, we continually strive to reduce our impact on the planet, which includes incorporating the use of sustainable materials and technologies in our products, from our laptop bags to tech accessories,” says Jonny Yuan, Vice President, Design at Targus. “These latest EcoSmart products exemplify how Targus is doing more to impact less while delivering innovative, purpose-built solutions to our customers.”

The 12-16″ GeoLite EcoSmart Advanced Backpack and 15-16″ GeoLite EcoSmart Slim Brief are designed for busy professionals to protect their laptops while staying organized and looking sleek. Each of these EcoSmart bags features a dedicated laptop compartment to keep their tech safe, along with handy zippered pockets to keep everything in their place. Both laptop bags are water-resistant on the outside and eco-friendly on the inside. The interior lining of the backpack is made using GRS-certified recycled materials equivalent to six recycled bottles and the Slim Brief’s interior from the equivalent of two recycled bottles.

In addition, Targus has introduced a 15-16″ Terra EcoSmart Backpack that can be effortlessly transitioned from a work and commuting backpack to weekend adventure pack. Available in black and grey, this durable, exceptionally versatile backpack delivers all-day comfort in a sustainable design, whether transitioning from work to the trails or traveling through crowded city streets during the daily commute. Its protection features include integrated anti-theft fasteners on primary pockets, a rain cover, and secure front helmet harnessing to handle the elements and prepare for new adventures. With an interior lining made from recycled materials, repurposing eight plastic bottles, this bag not only protects your essentials, but the environment, too.

In 2023, Targus first introduced EcoSmart tech accessories that are made from 85% certified post-consumer recycled (PCR) plastic, operate on ultra-low-power Bluetooth® which is four times more energy efficient than standard Bluetooth, and come in recycled packaging. Now, Targus has expanded these offerings by offering them as a complete, bundled solution. They include an EcoSmart Ergonomic Keyboard & ErgoFlip™ Mouse Combo and Antimicrobial Full-Size Wireless EcoSmart Keyboard & Midsize Comfort Mouse Combo arriving this month and an EcoSmart Full-Size Wired Keyboard & Ambidextrous Wired Mouse Combo which will be available in Q1 2025.

Targus began incorporating recycled plastic in its products 16 years ago, and to date, has repurposed 32.2 million bottles – saving the equivalent of 2,008,477 lbs. of CO2 compared to virgin plastic.* In 2024, Targus also introduced a new Coastline™ Collection of laptop bags made from certified ocean-bound plastic and a high percentage of recycled material.

Read the Targus 2024 Global Sustainability Report to learn more about the company’s continued environmental progress and forward-looking roadmap.

About Targus

For more than 40 years, Targus has been helping people and businesses get the most out of their tech—keeping it safe, easy to use, and always within reach. Our mission is simple yet powerful: To carry, protect, and connect your tech everywhere. We aim to make life with technology better, not harder. At Targus, we don’t just sell tech accessories — we empower you to do your best, wherever life takes you. So, whether you’re working from home, commuting across the city, or jetting off somewhere exciting, our solutions work seamlessly with your devices, unlocking possibilities, simplifying tasks, helping you work smarter, travel lighter, and get more done —today, tomorrow, and for years to come.

As a global leader in docking, Targus has deployed more than 3 million universal docking stations around the world in more than 12,000 organizations – with more than 90% of Fortune 1000 companies using Targus products and maintains the number one spot in US B2B Universal Docks (3rd party only)2.

Headquartered in Anaheim, California, Targus has global operations in more than 24 offices and distribution in more than 100 countries. Discover Targus at Targus.com and on our blog, and connect with us on social media: PodcastLinkedInTwitter/XFacebookInstagramTikTok, and YouTube.

* Targus global sales results: units + revenue, 2019-2023.

1Source: Circana, US/Canada Retail and US B2B Reseller in Unit Sales, ending June 2024 (Laptop Bag case type = Briefcase, Sleeve, Attache, Slipcase, Messenger Bag)

2Source: Circana, US B2B Reseller, Docking Stations Unit Sales, ending June 2024

Targus, EcoSmart, GeoLite, ErgoFlip, and Coastline are trademarks or registered trademarks of Targus International LLC in the US and in certain other countries. All other trademarks and registered trademarks are the properties of their respective owners.

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ALLMIGHT Partners with Innovation & Technology Caucus to Establish Texas as the Crypto Capital of the U.S.

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AUSTIN, Texas, Dec. 4, 2024 /PRNewswire/ — ALLMIGHT, an organization focused on advancing U.S. leadership in cryptocurrency, is proud to announce its role as a Leadership Partner to the Innovation & Technology (IT) Caucus of the Texas House of Representatives. This partnership underscores ALLMIGHT’s commitment to fostering growth in Texas’ tech ecosystem, helping shape policy, and establishing the Lone Star State as the crypto capital of the United States.

“Engaging with partners like ALLMIGHT helps us shape informed policy.” — Spencer Ward, Exec. Director of IT Caucus

As a Leadership Partner, ALLMIGHT will help amplify the state’s efforts to advance cryptocurrency development, and provide expert insights to help inform lawmakers as they craft policies impacting the fast-growing industry. This partnership aims to grow Texas’ leadership in the field, attracting top-tier talent, businesses, and investment capital to the region.

“Our collaboration with the IT Caucus is a crucial step toward establishing Texas as a global leader in the next wave of technological innovation,” said Kevin Ricoy, Founder of ALLMIGHT. “By working hand-in-hand with lawmakers, we can help foster an environment that encourages innovation, supports founders, and drives long-term prosperity for Texas.”

A Focus on Talent and Capital Formation

ALLMIGHT’s involvement with the IT Caucus will not only focus on policy advocacy but also offering opportunities for direct engagement with founders and business professionals. This will help lawmakers better understand the needs of the crypto industry and create pathways for talent to flourish in Texas.

ALLMIGHT’s mission to grow U.S. leadership in crypto aligns perfectly with Texas’ growing prominence as a hub for technology and business. By offering the IT Caucus direct access to industry insights and the needs of entrepreneurs, ALLMIGHT will help lawmakers craft policies that foster innovation, attract investment, and sustain Texas’ status as a leader in the field.

“The IT Caucus is committed to ensuring Texas remains a leader in emerging industries like blockchain and cryptocurrency,” said Spencer Ward, Executive Director of the IT Caucus. “Engaging with partners like ALLMIGHT helps us connect with innovators and shape informed, forward-thinking policy.”

About ALLMIGHT
ALLMIGHT is on a mission to accelerate USA leadership in crypto. Taking a culture-first approach to affecting change, ALLMIGHT produces “next-generation Americana” designed to reach and inspire the masses while hosting engaging events to unite, grow, and support the US crypto community. The goal is help cultivate talent, capital, and mindshare in the United States.

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