Future Finance
Forget Zero Fees, Robots. One Broker Doubles Down on Humans
- Singapore’s UOB-Kay Hian has hired some 100 remisiers from DBS
- The ‘human touch is still very important,’ UOB’s Choo says
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As the global brokerage industry shifts to zero fees for trading and robots to give advice, one company in Singapore is deciding to buck the trend.
UOB-Kay Hian Holdings Ltd. has taken on a large group of securities trading representatives, known as remisiers, from a brokerage arm of the country’s largest bank. It’s essentially a bet customers will still pay extra to be hand-held in their trades.