Endowus celebrates 5-year anniversary with record growth to over US$7 billion in client assets, and inaugural advertising campaign in Hong Kong

• Endowus Group’s total Assets Under Advice (“AUA”) grew to over US$7 billion (HK$54 billion) as of November 2024
• Remarkable growth year to date with group assets increasing by over US$2 billion (HK$15 billion), marking the fastest growth rate in the Company's history.
• Clients collectively gained over US$370 million (HK$2.9 billion) in net returns over the past five years benefiting from the industry-leading, fee-only model. 
• The recently launched Endowus Private Wealth client tier serving high-net-worth individuals, including family offices, Professional Accredited Investors, surpassed US$2 billion (HK$15 billion), with over US$200 million (HK$1.6 billion)  in hedge fund, private market, and alternatives exposure.  
• Endowus Hong Kong’s market expansion has been highly successful, with client assets and accounts growing by 10x and 7x respectively in the last twelve months, since soft launching last year, demonstrating a strong product-market fit in the region.

HONG KONG, 18 NOV 2024 – This month, Asia’s leading wealth management platform Endowus is celebrating five years since its public launch in 2019 in Singapore. 

In five years, the Endowus Group has now grown to consist of licensed entities in both Hong Kong and Singapore, serving over 200,000 individuals, family offices, and institutions — covering a wide range of asset classes, including cash management, public markets, private markets, and hedge funds managed by more than 80 leading global asset managers.

Shaping Asia’s Wealth Journey

This year marked significant growth for the Endowus Group, with group client assets increasing by more than US$2 billion (HK$15 billion) year-to-date, registering its fastest growth rate on record, pushing total group client assets above US$7 billion (HK$54 billion). Despite market volatility caused by events like Covid-19, geopolitical tensions, and interest rate fluctuations, Endowus clients have collectively seen over US$370 million (HK$2.9 billion) in net gains through the platform. Over 340,000 wealth goals have been created on the Endowus platform across its discretionary and advised portfolios, bespoke portfolios and fund investing platform, Fund Smart.

Clients continue to benefit from substantial savings from investing with Endowus, with an estimated US$50 million (HK$390 million) saved in fees to-date. This is due to Endowus' access to lower-cost funds at institutional share classes, and its industry-leading 100% cashback on trailer fees and zero sales charges. 

Gregory Van, Chief Executive Officer of Endowus said, “We are humbled to play an important role in systematically transforming the financial industry from the inside out, championing fair practices and innovative conflict-free business models that can be a win-win for clients, the wider industry, and Endowus. Importantly, this change is necessary, to  address significant socio-economic challenges, such as retirement adequacy across Asia. 

As we celebrate five years of transforming wealth management in Hong Kong and Singapore, we are incredibly proud of our journey, driven by a commitment to transparency, accessibility, and putting our clients first. The remarkable growth we’ve achieved amid market challenges underscores the demand for our fee-only model. As we continue to innovate and expand, we remain dedicated to helping individuals and families achieve their financial goals with confidence."

Growth in Endowus Private Wealth / Private markets and Hedge funds strategies

The high-net-worth (HNW) investor segment was the fastest-growing area for Endowus, as more individuals and families invest over US$1 million (HK$8 million) on the platform. Thousands of accredited and professional investors are now leveraging Endowus’ diverse range of asset classes, including the newly launched Core Enhanced Portfolios, alongside institutional private markets, hedge funds, and alternative investments. 

Samuel Rhee, Chairman and Chief Investment Officer of Endowus said, From the start,  Endowus focused on making world-class financial services accessible to everyday investors. Through the years, our client base has become increasingly diverse, now including high-net-worth investors and family offices. By expanding our alternatives offering, we’re unlocking high-quality products that enable investors to diversify their portfolios and access new opportunities that were previously out of reach. Our commitment to providing top-tier financial products remains a priority, giving affluent individuals in Asia more options to manage and grow their wealth.”

Currently, two-thirds of HNW accredited investors access alternatives directly through the Endowus app, reflecting a growing preference for digital platforms in managing these investments. Expanding its capabilities and offering,  Endowus continues to partner with world-class alternative fund managers, adding prestigious names such as AQR, HarbourVest, and Campbell in the past year. Other major players, including Dimensional, KKR, Carlyle, Ares, Quantedge, and Point72, have been onboarded in the prior year.

Kenneth Ho, Managing Partner Carret Private said,  “We are very  excited to work in partnership with Endowus to enable the growth of our market leading position in the ultra high net worth and family office space.  By leveraging the power of the Endowus ecosystem and platform, Carret Private meaningfully improved the experience of our clients and broadened the suite of solutions to offer a more holistic wealth experience.  More importantly, we adopted the same conflict-free, transparent pricing solutions to revolutionise the wealth management industry.” Carret Private is a multi-family office majority-owned by Endowus serving ultra-high net worth families.

Early success in Hong Kong

Endowus’ expansion into Hong Kong has been a pivotal moment in its growth story. 

Endowus Hong Kong’s market expansion has been highly successful, with client assets and accounts growing by 10x and 7x respectively in the last twelve months, indicating a strong product-market fit. In a market traditionally dominated by securities, Endowus’ focus on diversification and evidence-based investing strongly resonates. 

The Company also launched its first large-scale advertising campaign in Central, Hong Kong, themed “Elevate Your Wealth: Invest Better to Live Better” which emphasised the benefits of fund access, low and transparent fees, evidence-based advice, and conflict-free wealth management.

Endowus remains committed to expanding its mission of offering fee-only, conflict-free wealth management across Asia's wealth hubs. The firm emphasises the importance of its fee-only business model, combined with technology-driven service, to improve investment outcomes, enhance retirement adequacy, and make a positive impact on society.

Steffanie Yuen, Managing Director, Head of Hong Kong of Endowus said, “We are thrilled with the highly positive reception and strong uptick in Endowus’ business growth in Hong Kong since our full service launch in April. Clients across all the wealth spectrum have been looking for new advisory experiences, especially ones that put their interests first. It’s an opportune time for Hong Kong’s wealth management sector to transform as Private Wealth is set to double to US$2.3 trillion by 2030. Endowus wants to be at the forefront of shaping that monumental growth for the industry.” 

The Path Forward

Endowus' success is reflected in the strong support it garnered from major investors. The company raised US$95 million (HK$ 740 million) to-date from prominent institutions including UBS, Citi Ventures, MUFG, EDBI Singapore, Prosus, four of Asia’s wealthiest billionaire families, and other institutional investors. As Endowus looks to the future, its ambitious plans include deepening presence in its core markets of Singapore and Hong Kong, and delivering revolutionary wealth management services to new regions across Asia.

In its next chapter, the Company is poised to redefine the wealth management industry for years to come. At its recent WealthTech Conference, and in partnership with McKinsey and Company for their latest report, an opportunity of over US$700 billion of personal financial assets is expected to transition to digital wealth solutions by 2028, with 75% of this transition coming from growing mass affluent and HNW segments. 

With its client-first approach, relentless pursuit of innovation, and expanding influence across Asia, Endowus remains on track to fulfill its mission of transforming the way wealth is managed in the region.