Phillip Securities, a subsidiary of PhillipCapital, will be taking over some 1,500 client relationships from Sony Life Financial Advisers (Singapore), following the latter's plans to wind down its financial advisory, so as to focus on Japan, its home market.
For PhillipCapital, the transfer is a way to deepen its presence in Singapore’s wealth management and insurance advisory landscape.
"This is not just a handover; it is a continuation of trusted relationships," says Lisa Lee, executive director, wealth management at PhillipCapital.
“We believe Phillip Securities is well-equipped to ensure a seamless transition," says Yoshiki Moriyama, managing director and CEO of Sony Life Financial Advisers.
Clients are not required to take any action to maintain their coverage, and no additional fees or charges will be incurred. Each client will be contacted directly and be introduced to a new Phillip Securities adviser.
