Wealth Management Terms

Wealth Management and WealthTech is a constantly changing landscape. It can be hard to keep up. Our handy glossary has been designed to help you get to grips with some of the words and terms you might come across – with short, straight-forward definitions. We hope you find it useful.

PDPA (Personal Data Protection Act)

What is PDPA? PDPA (Personal Data Protection Act) is the data protection law in Singapore that governs the collection, use, and disclosure of personal data.

Perpetual KYC (Know Your Customer)

What is perpetual KYC? Perpetual KYC is the continuous process of verifying and updating customer information to ensure financial compliance with regulations and assessing the risk associated with each client.

Politically Exposed Person (PEP)

What is a PEP? PEP is a term used to describe individuals who hold prominent public positions or have connections to such positions. How financial institutions treat PEPs is vital; with extra scrutiny due to the risk of corruption and money laundering.

Portfolio Diversification

What is portfolio diversification? Portfolio Diversification is the spreading of investments across various assets or asset classes to reduce risk and increase the potential for returns.


What is PowerBI? PowerBI is Microsoft's business analytics service that provides interactive visualisations and business intelligence capabilities.

Private Banks

What are private banks?  Private banks are banks that cater specifically to high-net-worth (HNW) individuals, Ultra High Net worth (UHNW) individuals, families, and select businesses. Private banks offer a range of personalised banking and wealth management services which are tailored to the unique needs of their clients.

Product Lifecycle

What is the product life cycle? Product lifecycle is the systematic approach and set of processes employed to manage a product, system, or project throughout its entire lifecycle, from inception to retirement or end-of-life.

Professional Investor

What is a professional investor? A professional investor is one who meets certain wealth or income requirements of Hong Kong and can access more complex and risky financial products.

Prospect Management

What is prospect management?  Prospect management is the process of identifying, organising, and nurturing prospective clients with the goal of converting them into active and engaged customers. It involves managing prospects through the sales pipeline. Prospect managers will typically use a CRM platform that will help them to effectively track and manage their prospects in the hopes that they will convert later on down the line.

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