SEC Secretary-General Rapee Sucharitakul said, “previously the comprehensive provision of counselling and advisory service on investment would be limited to private wealth only while the general public would face investment difficulties as they received a lot of information but could not analyze and compare a variety of investment products available or were advised to purchase individual products, especially those products for which the investment consultants  receive high sales commissions or want to boost sales volume. Moreover, there was a lack of persons to monitor their investment after the investment was made. Therefore, the general public could not utilize the capital market to create financial freedom.”

“The Five Steps toward Investment Confidence project was initiated from the intent of SEC in cooperation with public and private allies and business operators in the capital market, together with the advancement of current financial technology and inventions which play an important part in efficiently creating a comprehensive investment care service at a low cost. The service starts from (1) exploring and understanding customers, (2) constructing an investment portfolio, (3) implementing the portfolio according to the asset allocation plan, (4) monitoring and rebalancing the portfolio, to (5) providing consolidated reports for clients’ review. As a result, the service receivers are ready to manage their own assets to create financial freedom.”

Currently 26 business operators have been approved by SEC and it is expected that the number will increase respectively. The approved business operators can provide the five-step wealth advisory service under the scope of their licensed business. Other interested business operators may submit an application for approval to SEC and SEC will consider their qualifications based on the stipulated criteria.

SEC has published the list of business operators granted approval to be wealth advisory service providers on SEC’s website www.sec.or.th and those who need more information can visit www.5stepstoinvest.com and the 5stepstoinvest Facebook page, or call SEC on 1207 for further inquiries.

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Notes to the news
• List of 26 business operators granted approval to be licensed wealth advisors is as follows:
1. Seven securities companies, namely:
(1) KTB (Thailand) Securities Public Company Limited: KTBST;
(2) Kasikorn Securities Public Company Limited: KS;
(3) DBS Vickers Securities (Thailand) Co., Ltd.: DBSV;
(4) Thanachart Securities Public Company Limited: TNS;
(5) Bualuang Securities Public Company Limited: BLS;
(6) Phillip Securities (Thailand) Public Company Limited; Phillip; and
(7) Yuanta Securities (Thailand) Co., Ltd.: YUANTA

2. Seven asset management companies, namely:
(1) Krung Thai Asset Management Public Company Limited: KTAM*;
(2) Krungsri Asset management Co., Ltd.: KSAM*;
(3) Kasikorn Asset Management Co., Ltd.: KASSET;
(4) TMB Asset Management Co., Ltd.: TMBAM;
(5) SCB Asset Management Co., Ltd.: SCBAM;
(6) Merchant Partners Asset Management Limited: MPAM; and
(7) UOB Asset Management (Thailand) Co., Ltd.: UOBAM*

3. Six commercial banks, namely:
(1) Bangkok Bank Public Company Limited: BBL;
(2) Krung Thai Bank Public Company Limited: KTB*;
(3) Kasikorn Bank Public Company Limited: KBANK;
(4) Citibank, Bangkok Branch: Citibank*;
(5) TMB Public Company Limited: TMB*; and
(6) Siam Commercial Bank Public Company Limited: SCB

4. Two life insurance companies, namely:
(1) Muang Thai Life Assurance Public Company Limited; and
(2) AIA Co., Ltd.

5. Four FinTech startups, namely:
(1) FINNOMENA Mutual Fund Brokerage Securities Co., Ltd.: Finnomena;
(2) Treasurist Investment Advisory Securities Company Limited; Treasurist*;
(3) Robowealth Mutual Fund Brokerage Securities Co., Ltd.; Robowealth; and
(4) WealthMagik Mutual Fund Brokerage Co., Ltd.: WealthMagik

Note: *Business operators in the process of gradually opening for service.
• Partners of the project (18 allies) are the Bank of Thailand, Office of Insurance Commission, Government Pension Fund, National Savings Fund Board, Stock Exchange of Thailand, Federation of Thai Capital Market Organizations, Association of Thai Securities Companies, Association of Investment Management Companies, Thai Bankers Association, Association of International Banks, Thai Life Assurance Association, Thai FinTech Association, Thai Listed Companies Association, MAI Listed Company Association, Association of Provident Funds, Thai Investors Association, Thai Financial Planners Association, and CFA Society of Thailand.