Bareksa and Jagartha Advisors Launch Bareksa Prioritas, Target Premium Customers

The high interest of the upper middle class to invest in mutual funds is the reason for the Bareksa mutual fund marketplace to launch a new service called Bareksa Prioritas. Collaborating with a financial consultant Jagattha AdvisorsThis service specifically targets High Net Worth (HNW) customers which are claimed to be increasing in number in Indonesia. Bareksa also wants to support OJK's plan to invite more individuals to invest in mutual funds.

"With the technology and data we have, we can further provide easy access for analysis for financial consultants, such as Jagartha Advisors, to provide recommendations and education to customers who have financial assets of at least $1 million [approximately IDR 14,3 billion]," said Co. Founder of Bareksa Karaniya Dharmasaputra.

Karaniya added that customers who fall into the HNW category usually need assistance in terms of education, information, and recommendations from financial consultants. By opening an account and registering as a Bareksa Prioritas customer, customers will directly receive assistance from online and offline financial consultants.

"Using data and technology owned by Bareksa, we at Jagartha Advisors can directly provide recommendations online. And if needed, we also provide opportunities for customers to hold face-to-face meetings," said Co-founder and Chairman of Jagartha Advisors Ari Adil.

Bareksa has previously partnered with Bukalapak to OpenMutual and Mutual Fund Tokopedia.

Different platforms for clients and financial consultants

In particular, Bareksa provides two different platforms for customers and financial consultants of Jagartha Advisors. Starting from dashboards specifically for customers that can be used to monitor investments directly, as well as a special platform for financial consultants to conduct analysis and provide mutual fund investment recommendations to customers.

Although Bareksa Prioritas is open to individuals and corporations, in particular, Bareksa and Jagartha Advisors want to reach out to more individuals to invest in mutual funds. For the initial stage, Bareksa and Jagartha Advisors want to provide education and market the product first and have not been able to target how many customers will be acquired.

"Currently, there are no HNW customers at Bareksa, but with the retail investors that Bareksa has collected so far and amounting to more than 500 thousand, they can also upgrade to become HNW customers," said Karaniya.

The high demand for financial consultants for HNW is said to have reached around 66.9% in 2016 based on data from Capgemini. In the Asia Pacific region, Indonesian HNW customers in particular have the highest demand for digital devices in investing.

"We from Jagartha ensure that we will prepare professionals who can help Bareksa Prioritas customers invest properly and of course get benefits from mutual funds," said Ari.