Samsung Securities Opens 'The SNI Center' Dedicated to New Rich Clients

Consulting Across All Areas of Business Management
for Executives of Ventures and Startups

[Asia Economy Reporter Ji-hwan Park] Samsung Securities announced on the 18th that it has opened 'The SNI Center,' a dedicated organization for the new rich that provides customized total solutions covering both financial and non-financial services according to the development stages of emerging growth companies, the first of its kind in Korea.

Samsung Securities plans to open the era of ultra-high-net-worth asset management 2.0 through sales targeting employees of growth companies such as ventures and startups, commonly referred to as the new rich. While existing wealthy individuals value stable asset management and close relationships with private bankers (PBs), Samsung Securities explained that the new rich tend to place greater value on the expertise of financial institutions, the broad network of support available, and the distinctiveness of products.

The SNI Center will provide financial services necessary at each stage of corporate growth, such as fundraising, business expansion, equity management, and fund operation. It will also offer consulting in non-financial areas such as talent development and system operation. To respond to the diverse needs of each company, 11 PBs with extensive experience in providing customized asset management services to executives such as CEOs of large corporations and various institutional investors including pension funds have been selected and assigned.

These PBs will serve as a 'control tower' to maximize customer satisfaction through their own capabilities and the synergy of internal and external expert networks, covering all financial services needed by emerging company owners, including unlisted funding, employee stock option plans, and initial public offerings (IPOs), at the contact point with new rich clients. Samsung Securities plans to operate the evaluation system flexibly so that they can focus on long-term growth goals such as the number of clients and assets rather than short-term targets.

The Family Office Committee, composed of 55 headquarters experts, will also provide additional support to The SNI Center. The committee includes specialists in financial products, taxation, real estate, as well as experts in research, investment banking (IB), outsourced chief investment officer (OCIO), and pension consulting, offering professional consulting across all areas of concern for executives, from corporate fundraising to fund management and employee asset management.

Baek Hye-jin, Executive Director of SNI Strategy at Samsung Securities, said, "Newly wealthy clients often increase their assets through corporate shares or stock options and tend to have an active investment style. Their interests are truly diverse, including differentiated investment opportunities such as private deals and management areas beyond traditional investment assets like stocks and bonds." She added, "We have gathered all corporate capabilities to meet the differentiated needs that differ from those of traditional wealthy clients. We will ensure that one-point solutions are provided for all concerns as our clients’ companies grow."