Security Bank Wealth targets higher managed assets in the Philippines

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Security Bank wealth targets

Highlights

Security Bank Wealth aims to increase assets under management from about P560 billion at 2023 year-end to around P600 billion by end-2024, driven by rapid client base growth.
Market volatility is pushing clients toward fixed income and medium- to long-term investments, while affluent client demand supports legacy planning and generational wealth transfer strategies.
Security Bank posted P3.38 billion net income in Q2, rising from P3.04 billion a year ago, while first-half profit grew to P6.08 billion from P5.86 billion.

Growth target and client acquisition strategy

As reported by BusinessWorld Online, Security Bank Wealth is on track to grow its assets under management from about P560 billion at the end of last year to around P600 billion by year-end, according to Security Bank official Rene Alan M. Aguirre. He says the business still has one quarter left to sustain the push, supported by strong customer acquisition and a wider investment mix among clients.

Over the past year, the unit has seen its customer base double or triple, while more transactions have shifted toward medium- to long-term investments. Aguirre says the bank is aggressively targeting more affluent customers through its roughly 400 branches and about 55 wealth relationship managers.

He adds that while the segment's average client age is about 55, Security Bank Wealth is drawing more customers in their late 30s to 40s, including outside central business districts. The bank is seeing stronger demand for comprehensive wealth management solutions in central zones as well as in Visayas and Mindanao, where clients are seeking advice on growing, preserving, and protecting family wealth.

Shifting investment demand and broader offerings

Customer onboarding is being supported by competitive rates, simple short-term money market placements, and promotional current or savings accounts, while the bank works to match investment products with each client's risk profile and financial goals. Aguirre says many affluent clients, including older generations, still prefer conservative investments, making suitability and risk tolerance central to portfolio construction.

The bank also sees younger wealth clients entering through intergenerational wealth transfer, as older clients involve their children in business and financial decisions and begin passing assets to the next generation. That trend is supporting Security Bank Wealth's legacy planning strategy and helping it build direct relationships with younger family members.

At the same time, market volatility is shifting client demand away from equities and toward fixed income, except for selected high-dividend Philippine equity asset classes. Aguirre says clients have increasingly moved beyond short-term money market instruments into medium- and longer-term opportunities over the past year.

As part of its push to broaden services for affluent customers, Security Bank Wealth has partnered with St. Luke's Medical Center to offer concierge healthcare services through the hospital's Corporate Business Center. Clients can access appointment assistance, specialist referrals, scheduling support, executive lounge access, admission guidance, and preferred rates on selected health screening packages.

Separately, Security Bank posted net income of P3.38 billion in the second quarter, up from P3.04 billion a year earlier. Its first-half profit reached P6.08 billion, rising from P5.86 billion previously.

In our earlier article on planned Philippine sovereign bond reforms and the country’s expected inclusion in J.P. Morgan’s Government Bond Index-Emerging Markets, we explained how these steps could improve comparability, liquidity, and broaden the investor base for peso government securities. We also noted that cheaper funding and stronger inflows are not automatic and that lasting benefits depend on fiscal credibility and deeper capital-market development—especially for corporate bonds—so more savings can move into productive investment rather than just trading activity.

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