iFast Financial, the Singapore-based developer of investment platforms, has launched a new wealth management product that caters to high net worth individuals.

The new platform, called iFast Global Prestige, is the first independent platform for HNWIs in Singapore. It aims to offer an independent wealth management solution to meet the needs of both the wealth advisers and their HNWI clients in Singapore and the region.

"HNWIs in Singapore have had mainly one option when it came to managing their wealth, namely private banks. iGP will offer a new proposition to both wealth advisers and HNWIs. They can tap on a wealth management platform that will focus on providing a comprehensive suite of products and services with transparent and competitive fees," said Lim Chung Chun, the chairman and chief executive officer of iFast Corporation, in a statement.

According to the company, its independence allows it to provide unbiased research and carry a wide suite of products which are unaffiliated to any one specific product provider.

iFast operates in Singapore, Hong Kong, India, and Malaysia.