Wealthtechs chase the ‘sandwiched rich’ with curated products, tailored services

FINTECH startups eyeing the wealth management sector have a plethora of products and services for the average Joe, from investing to cash management. But average Joes are not from whom platforms such as Stashaway and Endowus earn the bulk of their management fees.

These platforms have their eyes trained on the “sandwiched rich”, or high-net-worth (HNW) individuals who qualify as accredited investors (AIs), but have not quite reached the private bank client league.

To be an AI in Singapore, an individual must have either earned S$300,000 in the preceding 12 months or have over S$1 million in assets.