As the Asia-Pacific wealth and advisory sector matures, so will opportunities in some quarters for M&A activity in the industry, tapping into the need for economies of scale, the ability to shoulder rising costs and the demands of clients.

Ascend Asia Financial Services Group, which says it is a Singapore company that brings financial advisory firms together, is acquiring Infinity Financial Advisory, SG Alliance and PromiseL and Financial Advisory as its newest member firms. 

The acquisitions will be carried out through Ascend Asia Singapore Advisory, a wholly owned subsidiary of Ascend Asia. 

The Monetary Authority of Singapore has given regulatory approval to the transaction, for which financial terms were not disclosed. The acquisitions are subject to the satisfaction of regulatory and acquisition-related conditions.

The development is an example of the kind of wealth management M&A which has been a feature of the industry in regions such as North America and Europe in particular. As the APAC region’s wealth sector continues to mature, more such arrangements are likely to take place.

With these additions, the Ascend Asia group will have four Singapore financial advisory firms with a total network of more than 2,000 financial consultants, Ascend said.

“With a sizeable advisory network and a dedicated asset management firm, our foundations are firmly in place. As we grow our open-architecture platform and the solutions offered by our member firms, we see meaningful opportunities to uplift Singapore’s financial advisory industry and empower financial consultants to deliver greater value and long-term benefits to consumers,” Tomas Urbanec, CEO, Ascend Asia, said. 

Infinity FA, SG Alliance and PromiseLand will continue operating under their own brands, with no changes to existing client relationships or agreements.

KKR, the US-listed private equity giant, set up Ascend Asia, forming the firm in July 2025. In October 2025, Ascend Asia rebranded its asset management arm to Ascend Asia Asset Management, with an expanded mandate to provide investment and wealth solutions through all member firms. 

From left to right: Caster Ong, CEO and co-founder, SG Alliance; David Choo, founder and managing director, PromiseLand; Tomas Urbanec, CEO, Ascend Asia, and Poh Choon Kia, CEO and founder, Infinity FA.