Prestige Wealth Inc.

General Information
Business:

(Incorporated in the Cayman Islands) 

Prestige Wealth Inc. is not an operating company but a Cayman Islands holding company with operations primarily conducted by its subsidiaries. Investors in our Ordinary Shares thus are purchasing equity interest in a Cayman Islands holding company. Prestige Wealth Inc. directly holds equity interests in its subsidiaries and does not operate its business through variable interest entities. As of the date of this prospectus, Prestige Wealth Inc. does not have any subsidiaries incorporated in the mainland China. 

Through our subsidiaries, we are a wealth management and asset management services provider based in Hong Kong, with the majority of our subsidiaries’ operations in Hong Kong. Our subsidiaries assist their clients in identifying and purchasing well matched wealth management products and global asset management products. Our subsidiaries’ clients for both wealth management and asset management services are primarily high net worth and ultra-high net worth individuals in Asia, and a majority of our subsidiaries’ clients reside in mainland China or Hong Kong. High net worth individuals and ultra-high net worth individuals refer to people who own individual investable assets, including financial assets and investment property, with total value over $1.5 million or over $4.5 million, respectively.

•        Wealth management services.    Our subsidiaries work with licensed product brokers licensed in Hong Kong or in the U.S., who are primarily insurance brokers and distribute wealth management products, which currently consist only of insurance products, and assist them in customizing wealth management investment portfolios for our clients. Since late 2021, our subsidiaries started providing wealth management services in the U.S. Our subsidiaries also provide customized value-added services to their clients, including personal assistant services in Hong Kong, referrals to suitable wealth planning and inheritance related professionals such as trust lawyers and tax accountants, and referrals to renowned high-end medical and education resources. Our subsidiaries do not charge their clients fees for these value-added services. In addition to insurance products, we intend to expand the network of product brokers our subsidiaries work with to provide clients with access to other types of wealth management products.

•        Asset management services.    Our wholly owned subsidiary, PRESTIGE ASSET INTERNATIONAL INC. (“PAI”) and its subsidiaries provide asset management services to their clients acting as investment advisors and fund managers. Currently, our subsidiaries manage a fund of funds (“FOF”), Prestige Global Allocation Fund (“PGA”). See “Business — Asset Management Services — Asset Management Fund in Operation.” In addition to managing PGA, our subsidiaries also provide discretionary account management services to their clients. Previously, our subsidiaries managed a fund Prestige Capital Markets Fund I L.P. (“PCM1”), and our subsidiaries also provided asset management related advisory services. See “Business — Asset Management Services — Prior Business.” For our subsidiaries’ asset management services, they charge investors certain fees for managing and advising a fund, including subscription fees, performance fees and management fees.

**Note: Revenue and net income figures are for the fiscal year that ended Sept. 30, 2021.

(Note: Prestige Wealth, Inc. filed its F-1 on Oct. 25, 2022, and disclosed terms for its IPO: 2.5 million shares at $5.50 to $6.50 to raise $15 million. The company submitted confidential IPO documents to the SEC on Feb. 15, 2019.)

Industry: Wealth management services
Employees: 6
Founded: 2018
Contact Information
Address Suite 5102, 51/F, Cheung Kong Center 2 Queen’s Road Central Hong Kong
Phone Number +852 2122 8560
Web Address http://www.prestigewealthinc.com/
View Prospectus: Prestige Wealth Inc.
Financial Information
Market Cap $63.0mil
Revenues $2.79 mil (last 12 months)
Net Income $1.91 mil (last 12 months)
IPO Profile
Symbol PWM
Exchange NASDAQ
Shares (millions): 2.5
Price range $5.50 - $6.50
Est. $ Volume $15.0 mil
Manager / Joint Managers Network 1 Financial Securities
CO-Managers
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change