Mon, Sep 07, 2020 – 11:55 AM
INSURER FWD Insurance has acquired a minority interest in financial advisory firm IPP Financial Advisers (IPPFA) as the two firms enter into a strategic partnership.
FWD’s capital resources, expertise and market knowledge will further enhance IPPFA’s growth and expansion in Singapore and the region, as well as strengthen the latter’s professional staffing and technology capabilities, IPPFA chief executive Tay Huai Eng said.
Traditional processes will be digitalised through the integration of FWD’s technology solutions, simplifying the process for IPPFA customers. The partnership, backed by FWD’s extensive Asia network, will also bolster customer confidence in IPPFA’s commitment and growth in the region.
Together with FWD, IPPFA plans to strengthen its position in Singapore by expanding its financial services business significantly, FWD and IPPFA said in a joint statement on Monday.
IPPFA will retain its position as an open architecture financial planning institution with complete access to a comprehensive range of products from different insurers and fund houses, the statement said.
Meanwhile, the alliance will enable FWD to design life insurance products that comprehensively meet the evolving life insurance financial needs of clients.
Adrian Vincent, general manager of FWD Singapore’s life business, said: “Their reputation as a premier organisation dedicated to providing excellent wealth planning and management for their clients aligns with FWD’s ambition to make financial security accessible to everyone.”