Press Release
Saxo Singapore Discontinues Wealth Management Products
Saxo Singapore announced the discontinuation of its wealth management products, SaxoWealthCare and SaxoSelect, notifying clients of the decision.
Clients of Saxo Singapore’s wealth management products were notified through multiple channels including email, SMS, and in-platform messages. In these communications, clients were advised to close their positions and withdraw and/or transfer their funds by 9 December 2024. From 10 December 2024 onwards, SaxoWealthCare and SaxoSelect will no longer be available.
To further support clients, Saxo Singapore has also extended different alternatives to clients to help them stay invested. These alternatives include both options within and outside of Saxo’s offerings.
Saxo Singapore regularly reviews our product offering and has come to the difficult but necessary decision to discontinue our wealth management offering. In this transitional period, our top priority is to ensure clients receive the support they require.
To further support clients, Saxo Singapore has also extended different alternatives to clients to help them stay invested. These alternatives include both options within and outside of Saxo’s offerings.
Saxo Singapore regularly reviews our product offering and has come to the difficult but necessary decision to discontinue our wealth management offering. In this transitional period, our top priority is to ensure clients receive the support they require.
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning FinTech for investors, traders, and Institutional (BaaS) partners who are serious about making more of their money. As a well-capitalised and profitable FinTech, Saxo is a fully licensed Danish bank under the supervision of the Danish FSA and designated as a Systemically Important Financial Institution (SIFI) in Denmark. Saxo further holds a banking licence in Switzerland and financial licences in multiple jurisdictions, including Singapore where it holds a capital markets services licence under the Monetary Authority of Singapore (MAS). As one of the early fintechs in the world, Saxo continues to invest heavily into technology to ensure that Saxo’s clients and partners enjoy unparalleled client experience, broad access to global capital markets across asset classes on our industry-leading platforms. Saxo’s open banking technology (BaaS) powers more than 150 financial institutional partners, boosting the investment experience and the tools offered to end clients (B2B2C). Headquartered in Copenhagen and serving more than 1.7 million clients and over 400 partners in total, Saxo has recently reached new highs with client assets of more than DKK one trillion and more than DKK 5 billion in revenue. Saxo employs more than 2,400 professionals in financial centers around the world including London, Singapore, Amsterdam, Zurich, Dubai, and Tokyo.
For more information, please visit: https://www.home.saxo/en-sg
Today, Saxo is an international award-winning FinTech for investors, traders, and Institutional (BaaS) partners who are serious about making more of their money. As a well-capitalised and profitable FinTech, Saxo is a fully licensed Danish bank under the supervision of the Danish FSA and designated as a Systemically Important Financial Institution (SIFI) in Denmark. Saxo further holds a banking licence in Switzerland and financial licences in multiple jurisdictions, including Singapore where it holds a capital markets services licence under the Monetary Authority of Singapore (MAS). As one of the early fintechs in the world, Saxo continues to invest heavily into technology to ensure that Saxo’s clients and partners enjoy unparalleled client experience, broad access to global capital markets across asset classes on our industry-leading platforms. Saxo’s open banking technology (BaaS) powers more than 150 financial institutional partners, boosting the investment experience and the tools offered to end clients (B2B2C). Headquartered in Copenhagen and serving more than 1.7 million clients and over 400 partners in total, Saxo has recently reached new highs with client assets of more than DKK one trillion and more than DKK 5 billion in revenue. Saxo employs more than 2,400 professionals in financial centers around the world including London, Singapore, Amsterdam, Zurich, Dubai, and Tokyo.
For more information, please visit: https://www.home.saxo/en-sg
Vera Lau
Regional Communications and PR Manager, APAC & MENA
Mobile: +65 9248 7706
Email: VERL@saxomarkets.com
Regional Communications and PR Manager, APAC & MENA
Mobile: +65 9248 7706
Email: VERL@saxomarkets.com