DigitalCFO Newsroom | 1 September 2022
TradingFront provides a one-stop platform to help financial advisors better manage customer investments.
- The new platform is another disruptor in the making which leverages Tiger Brokers’ strength in innovation to provide financial advisors with an efficient trade management tool and access to Tiger Brokers’ customer base
- TradingFront capitalises on the changing needs of customers and builds on Tiger Brokers’ much loved Tiger Trade App
Online trading platform Tiger Brokers (Singapore) today announced the launch of TradingFront by Tiger Brokers (“TradingFront”), a new extension to its wealth management platform. Operating through three core prongs – efficiency, transparency and ease of use – TradingFront aims to transform the financial advisory sector by leveraging Tiger Brokers’ next generation technology platform.
TradingFront is well-poised to disrupt the financial advisory market as it provides advisors with a tool to efficiently manage their client investments while also providing their customers with access to Tiger Brokers’ coveted Tiger Trade App. Customers can easily approve the trades initiated by their financial advisor through the Tiger Trade App, with a one-click solution. The advisory services of onboarded partners will also be extended to Tiger Brokers’ existing users. All customers, including those of the advisory partners, will retain the flexibility to initiate their own trades without the input of their chosen advisors, through the Tiger Trade App.
The launch of the platform will initially see the onboarding of financial advisors from five partner firms. This will be extended to others on a selective basis over the coming months.
This move is in line with Tiger Brokers’ strategy to disrupt the financial services industry in the B2B segment, having successfully evolved the B2C segment with its next generation technology platform and Tiger Trade App, which is much loved by its 2.1mregistered users in Singapore. Having won numerous awards for its strength in innovation, such as the “Financial Services award for Wise’s integration” by the Singapore Business Review Technology Excellence Awards and the “Singapore Business Review Technology Excellence Awards” for the Mobile – Brokerage segment, Tiger Brokers continues to leverage its leadership in technology, to enhance its offering and transform the financial services sector.
Grace Yong, Business Development Director of Tiger Brokers, commented, “TradingFront is another initiative that Tiger Brokers has developed to disrupt the status quo of the current financial advisors market. Given the growing number of Singaporeans seeking financial advice, it is a natural progression for us to leverage our next-generation technology to help our customers streamline the trading process, and work towards having a platform that benefits both customers and financial intermediaries alike. We are also grateful for the partner firms that have placed their trust in us, and we are excited to work together to provide our customers with a seamless and convenient trading experience not found in any other platform.”
Victor Wong, Director of Wealth Management at Financial Alliance said, “We are impressed by Tiger Brokers’ success in disrupting the brokerage industry since its entry into the Singapore market just two years ago. As a firm, we have a shared passion for challenging the status quo and have an ambition to propel our industry forward by harnessing cutting-edge technologies and delivering a progressive, forward-thinking strategy. We look forward to partnering with Tiger Brokers in bringing more innovative propositions to our customers.”
TradingFront is designed with efficiency and accountability in mind and allows financial advisors to manage their customers’ investments easily, including the creation and management of transactions, through cutting-edge technology.
In addition, investors can view their holdings and approve trades for their managed sub-account on the Tiger Trade App, while taking advantage of traditional Tiger Trade functions to track the market and discuss investment opportunities with like-minded users. Demand for financial market advice has never been more apparent, with a growing number of investors seeking additional insights in decision making amid turbulent markets. By building on the advice of their preferred financial advisor, investors can better optimise their investment decision making.
Tiger Brokers warmly welcomes esteemed financial advisory firms, Financial Alliance, Infinitum Financial Advisory and Manulife Financial Advisers on board, joining existing partners PFPFA and SingCapital. Tiger Brokers envisages onboarding three more financial advisory firms by the end of 2022, and with that, more than 2,000 advisors will have access to TradingFront.
Ronald Tan, CEO of Infinitum Financial Advisory Pte Ltd, shared, “Our collaboration with Tiger Brokers (Singapore) allows us to extend our advisory services to a growing platform of investors, while extending our offering to existing customers. Managing money for the long term is key to our proposition, and we are looking forward to helping Tiger Brokers’ users make better informed investment decisions for the future. We are excited by the opportunity to leverage Tiger Brokers’ leadership in innovation, to enhance our services while at the same time shaping the financial advisory segment for the future.”
Tan Hong Tau, Chief Executive Officer of Manulife Financial Advisers, added, “As a partner of Tiger Brokers, Manulife Financial Advisers will be able to expand our service offering to include Tiger Brokers services, giving our customers access to one of the most popular trading platforms in the market. This partnership is a win-win for both MFA and Tiger Brokers customers, as they can access both advisory services from MFA, and leverage Tiger Brokers’ technology platform. We are very pleased to enter into this partnership with Tiger Brokers.”