KKR Launches Ascend Asia Financial Advisory Platform for Singapore Consumers

Global asset manager KKR has launched Ascend Asia, a platform for financial advisory (FA) firms in Singapore. The platform aims to provide customers with more choices by bringing together independently owned FA firms while allowing each to maintain its strengths and culture.

As a strategic shareholder and long-term investor, KKR will help member firms scale their businesses by offering resources and expertise in areas such as professional development, technology enhancements, customer relationship management, and regulatory compliance.

Ascend Asia operates as a holding company for FA firms, offering an 'open architecture' model that gives customers access to products from various providers. This allows financial consultants to recommend solutions tailored to each client's needs.

The first firm to join Ascend Asia is finexis, a Singapore-based FA firm that KKR is acquiring. The transaction is expected to close in the third quarter of 2025, with finexis continuing to operate under its own brand.

Ascend Asia is in discussions with more FA firms to join the platform, focusing on experience, ethics, and professionalism. The platform aims to enhance customer experience, broaden solutions, and deliver greater value to clients.

To support its growth and elevate Singapore's FA industry, KKR will leverage its global network and insurance knowledge. The platform aims to bring open-architecture models to Singapore's financial advisory landscape.

KKR's investment in Ascend Asia is part of its commitment to the global insurance sector. The firm's experience in the insurance industry spans various regions, with significant investments in the Asia-Pacific.

Urbanec, CEO of Ascend Asia, highlighted the potential for growth in Singapore's insurance market, driven by factors like offshore wealth inflow. The platform is exploring the use of AI to assist advisors with product recommendations and streamline operations.

According to the source: The Business Times.