Chinatrust Commercial Bank (
"Wealth-management service is all about providing [customer] solutions. That means selling the right [financial] products to the right customers," Huang Kuo-su (
To reach this goal, the bank had spent over NT$100 million on acquiring a set of computerized financial-advisory-system programs. It is planning to launch the advisory service on Jan. 1 next year, to enable it to give customers precise investment suggestions and regular reviews of portfolios after calculating their risk tolerance and life planning, the executive said.
The bank currently has over 200,000 wealth-management customers with personal assets valued at over NT$1 million each -- the threshold level for access to the bank's wealth-management service. Huang however declined to give a projection for the targeted number of customers next year.
Taipei Fubon Bank (
Chinatrust Commercial's move came after the Financial Supervisory Commission announced on July 21 a stricter requirement, demanding that financial service providers manage and sell products responsibly, in accordance with their customers' risk tolerance capability, when running a wealth-management business.