8VI Holdings Limited (ASX:8VI) has obtained regulatory approvals to commence its Financial Advisory businesses in Singapore and Malaysia.
The Financial Advisory business vertical was established in the previous financial year as part of the Group’s plans to expand its offerings and bridge gaps in the VI Community’s overall wealth management journey.
8VI FIN Malaysia Sdn. Bhd. received its Financial Adviser’s (FA) licence from the Central Bank of Malaysia, Bank Negara Malaysia (BNM) in January 2023 while Vastus Wealth Pte. Ltd. was granted its FA licence by the Monetary Authority of Singapore (MAS) on 23rd March 2023. With these approvals, both 8VI FIN and Vastus Wealth can now commence their operations and work with key partners, including insurers and wealth protection providers, to cater to the wealth protection needs of clients in the Singapore and Malaysia markets.
The Financial Advisory business vertical represents a promising growth opportunity for the Group, and is expected to diversify 8VI’s revenue streams while providing a competitive advantage to attract and expand its customer base.
Through this vertical, 8VI will be able to offer a wider range of services, catering to the diverse needs of its clients and fostering the development of stronger, long-term relationships, as well as greater customer loyalty.
Ms Low Ming Li, CEO of 8VI said, “We are delighted to have received official approval from the MAS and BNM to commence our Financial Advisory businesses in Singapore and Malaysia respectively. This milestone has been years in the making and demonstrates the Group’s commitment to adapting to the evolving business landscape to pave the way for our long-term success and sustainability. We remain dedicated to serving the needs of our VI Community and our mission of empowering everyone towards sustainable wealth.”
We are thrilled to be launching Vastus Wealth and excited to offer our clients a comprehensive suite of wealth advisory services to help Singaporeans lead a life of Optimal Wealthness,” Vastus Wealth, CEO, Chris Chan, said.
“Our team is dedicated to helping clients manage, protect, distribute wealth, and achieve their financial objectives. We believe that by providing personalised wealth coaching, we can help clients achieve their long-term goals,” Mr Chan added.