UOB’s digital wealth sales, transactions jump almost 50% as clients invest more online
The average lump-sum investment among young adults is now about S$4,000; among young professionals, it almost S$8,000
UOB's digital wealth sales and transactions surged nearly 50% year-on-year in the 12 months leading up to April, according to the bank. This growth was fueled by a broader regional expansion and increasing customer confidence in online investing. The bank attributes its success to the integration of consumer banking businesses it acquired from Citi, as well as the growing demand for investment strategies developed by its private bank's chief investment office, which it has made accessible to its wider retail customer base.
As Singapore may tighten measures following a US report on a "transshipment scam," financial planners are advising investors to explore alternative options, as T-bill yields have declined.
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