Finansia Syrus Securities (FSS) plans to double the size of its assets under management (AUM) next year through wealth advisory services, even as it prepares to apply for a private fund licence.
The target represents ambitious growth from anticipated AUM of 10 billion baht by the end of this year.
FSS's AUM value stood at 3 billion baht early this year.
Pitsanu Wathanawanapong, executive director at FSS, said the company's wealth advisory business has operated with a securities business licence and has been active since the Securities and Exchange Commission (SEC) allowed securities firms to engage in wealth advisory starting in April.
Mr Pitsanu said FSS targets revenue from the wealth advisory business making up 30% of total revenue in 3-5 years.
Annual revenue is expected to reach 50-100 million baht, he said.
"Securities businesses need to diversify into other related businesses in order to generate sustainable income for the long run," said Mr Pitsanu.
FSS has a customer base of wealthy investors numbering around 500 accounts, with 100 accounts exceeding 10 million baht.
The remaining accounts have an investment value ranging from 1-9 million baht.
The company is preparing to apply for a private fund licence with the SEC, he said, expecting to obtain the licence this year.
Private funds will add to the asset management business, with fund managers able to manage clients' assets and provide wealth advisory services simultaneously, said Panlert Jarernswan, senior vice-president of wealth management at FSS.
The Stock Exchange of Thailand index is projected to move in a range of 1,600-1,700 points, according to FSS.
Interesting sectors for equity purchases are banking and energy as share prices have become cheaper with the economic slowdown, while consumer stocks can yield good returns thanks to the government's recent economic stimulus measures, said Mr Panlert.
The recommended asset allocation during this period is investment of 50% in equities, 20% in property funds and real estate investment trusts and the rest in fixed-income securities.