The independent wealth management sector of Asia is growing up, with one prominent example trumpeting its birthday.

HP Wealth Management, which is one of a new breed of independent wealth managers, has chalked up its 10th anniversary, pointing to how this sector is becoming more established in Asia.

The business was founded in early June 2009 by Urs Brutsch and obtained its CMS licence from the Monetary Authority of Singapore in 2012. 

“Our goal is to build something lasting. We will continue to invest into our platform and our staff to remain competitive. We will adapt to changes in client needs and expectations and to regulations, but at the heart of it, we will remain true to our `DNA’: we want to work for and with our clients to preserve and grow their wealth for generations to come. We want to remain their trusted advisor,” the firm said in a statement. 

“We have made a conscious decision not to have a lavish anniversary celebration. We believe that we don’t need to celebrate ourselves and rather spend the money on further improvements to our offering. In addition, we will be making a modest contribution to a regional charity. We believe that such an expense is more worthwhile than a fancy party,” it continued.

HP Wealth Management's presence in the market adds to a current breed of independent firms, a phenomenon tracked by this news service in a recent research report.

The firm recently appointed Rishi Dhanuka as director, who previously worked at Bank of Singapore where he was an executive director.