On the 21st of October, WealthMagik have officially launched its mutual fund online trading service, WealthMagik Trading, with the theme “Wealth for the Mass” at the Okura Prestige Bangkok Hotel. The trading service will be available at Wealthmagik.com, enabling its customers to shop for mutual funds from nine asset management companies with more signing up in the future. The website is operated by WealthMagik Mutual Brokerage, a new subsidiary of WMSL. The website has 15 Million views, 23,000 of which are from company members. The company is confident it can reach 100,000 members, 30,000 of them investors, within the next three years.
WMSL became Thailand’s first non-financial institution to provide a mutual fund online trading service after obtaining a mutual fund trading license from the Securities and Exchange Commission. The new service target group are workers over age 30 who have savings and want to invest in alternative investments. Investors will be confident in the safety of the online system as it will inform investors during every process. In addition, the system has the capability to manage asset allocation and investment planning that retail investors can do by themselves. Thus the Wealth for the Mass concept as it provides any investors private banking like services that used to be only available to HNWIs.