BPI Wealth books P1 billion in AUMs for digital accounts
BANK of the Philippine Islands’ (BPI) wealth management arm BPI Wealth reached P1 billion in assets under management (AUM) for its digital accounts as of June, it said on Monday.
“Reaching P1 billion in AUM through digitally opened accounts is a strong validation that our digital initiatives are on the right path. It also signifies Filipinos’ readiness to adapt to technologies that allow them to take control of their financial futures through investments. Our commitment to sustainability through embracing digital solutions is resonating with our clients and driving growth for the business,” BPI Wealth President and Chief Executive Officer Maria Theresa D. Marcial said in a statement.
The accounts included are investments in unit investment trust funds and mutual funds, custody, and segregated portfolios opened and transacted online through e-Invest, BPI Wealth’s digital investment account opening platform.
BPI Wealth also recently launched a purely online end-to-end account opening process for its portfolio management accounts (PMA) as part of its digitalization push, it said.
Clients can open an investment portfolio and invest in various tenors of Treasury bills starting at P500,000. They only need one PMA to be able to invest in other available securities, such as preferred shares and corporate bonds.
“This new digital initiative exemplifies BPI’s commitment to providing clients with innovative and accessible financial solutions. We have a growing list of sophisticated investors who want a consolidated view of their assets in one account, which is the primary benefit of a PMA. Going fully digital now gives them the benefit of accessing this specialized investment vehicle at the comfort of their home, and at their fingertips,” Ms. Marcial said.
PMAs can be opened through e-Invest using Android and Apple devices or laptops and desktops.
Clients who open a PMA will also have a dedicated investment advisor who can provide personalized investment strategies suited for each client’s needs. — Aaron Michael C. Sy