Our Business Model
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Understanding Our Business Model for Sustainable Success
With ASTRID FIRST’s business model, the clients and advisors work together to select an international Private Bank where assets are customized.
The client appoints ASTRID FIRST to manage the assets with a Limited Power of Attorney (“LPOA”) over the account. The client pays ASTRID FIRST an advisory fee for their ongoing services. ASTRID FIRST does not hold the client’s assets. Assets are held with the custodian of their choice.
The LPOA gives ASTRID FIRST the ability to invest and manage the assets, but not transfer them out of the account. Instructions to move money out of the account can only be given by the client directly to the custodian bank, ensuring the utmost security of the assets.
The diagram below illustrates how the relationship between the client, ASTRID FIRST and the bank work together:
1. Client opens an account with the private bank of their choice.
2. Client signs LPoA (a) to appoint ASTRID as asset manager
(If the client has an existing private bank account, the client does not
need to open a new private bank account).
3. ASTRID does not hold the client’s assets. Assets are held with the
private bank of their choice.
4. The client decides between advisory or discretionary mandate
(b).
5. Cooperation Agreement – Operational support, receiving of
investment ideas and research, details of client account
information.
6. Delegation of Duties – Private bank provides execution
platform, asset custody and transaction reporting
ASTRID is responsible for the investment duties from
portfolio management, investment suitability and investment
risk profile.
Notes:
(a) Client maintains full transparency of all investment activities. For every transaction done on the account, client will receive transaction advice directly from the custodian.
(b) LPoA limits asset manager to perform only investment functions in a client’s account (e.g. trading authorization, fee-payment authorization, completion of forms for IPOs and product risk). Other critical functions such as cash withdrawals, change of beneficiary or other major account actions are not permitted without client personal authorization with the custodia
Benefits of Using an Independent Asset Manager
Alignment with Client
ASTRID FIRST operates on a fee based model so as to best align ourselves with our clients.
Independent Advice
Being an independently owned company, ASTRID FIRST acts on the best interest of our clients for every recommendation that is made.
Multi-Platform Offering & Solutions
ASTRID FIRST can seek out solutions and work with various providers to meet client’s specific need. For clients with more than one private banking accounts, ASTRID FIRST can be your single point of contact for all your wealth management needs.
Transparent & Competitive Pricing
On behalf of our clients, ASTRID FIRST will negotiate with the private banks to ensure all pricing is competitive and transparent.
Bespoke Solutions
ASTRID FIRST works with each client to build a customized portfolio which reflects client’s personal goals, expectations and risk appetite.
Strategies for Business Model Growth and Expansion
Our strategies for business model growth and expansion focus on innovation, market diversification, customer engagement, and operational efficiency to drive success.