Private markets

A Professional Client ("PC") may generally have access to a wider range of financial products and services. Some financial institutions may not offer certain products and services to persons who are non-PC.

Under section 2 of the Conduct of Business Module Rulebook of the Dubai Financial Services Authority (the "DFSA"), you may be categorised as a Professional Client (“PC”). A PC may generally have access to a wider range of financial products and services.

To be eligible to be treated as a PC, you must first meet eligibility criteria (please refer to "How do I qualify for PC Status?" ) and you must opt in to be treated as a PC.

If you opt in to be treated as a PC, you are regarded as having consented to and understood the following:

1. I represent, warrant and undertake that I am a "Professional Client" ("PC") as defined under the DFSA Conduct of Business Module Rulebook, Section 2. I agree to provide the relevant supporting documents and all supporting information and documents I have or will provide are true, accurate, complete and authentic. This representation shall be deemed repeated upon every transaction and dealings with StashAway in relation to my account.
2. I understand what it means to be a PC and the consequences of choosing to opt in. In particular, I acknowledge that choosing to be a PC, this may reduce certain regulatory safeguards applicable to me so long as StashAway has not received a withdrawal of consent from me. I have read and understand the general warning and regulatory safeguards applicable to me, as discussed in the PC FAQs.
3. Having considered the consequences, I choose to opt-in and provide my consent to be treated as a PC as defined in the PC FAQs in relation to my account, transactions and dealings with StashAway.
4. I am aware that I can withdraw my consent at any point in time and choose not to continue to be treated as a PC. I acknowledge that I have read and understood the consequences of withdrawing my consent.
5. I confirm that although StashAway may draw my attention to investment opportunities and provide me with market information, opinions or recommendations, I understand that such advice may be given in isolation and may not always take into account the asset allocation of my portfolio. I agree and acknowledge that all decisions whether or not to invest and/or to enter into transactions will be made on my own. I will be making decisions on whether or not to invest and/or to enter into any transactions on my own behalf and/or StashAway will only facilitate the entering into such transactions upon receiving my instructions.
6. I undertake to notify StashAway immediately of any subsequent change to my financial situation which affects my eligibility to be considered as a PC.
7. I am aware that StashAway will not be required to provide me with any contract notes, statements of account or receipts under the DFSA Rules, on a monthly basis, when my PC status is in effect where such would otherwise be required, unless I instruct StashAway to do so. Although StashAway has no regulatory duty to provide me with the above-mentioned information, StashAway will continue to send me the statements of account until further notice and to provide me with other information upon request.

As an individual investor, you can only qualify as a Professional Client (PC) if you meet the following criteria:

• Have ‘net’ assets of at least $1 million; 

AND

• Are currently, or have been, over the last two years, an employee in a relevant professional position of a regulated financial institution;

Or,

• Appear, on reasonable grounds, to have sufficient experience and understanding of relevant financial markets, products or transactions and any associated risks.

Please note: Due to regulatory requirements, we would need to obtain sufficient evidence on your status as a PC. The asset test excludes the value of your primary residence, but may include the following assets held directly or indirectly:

• Cash holdings in current or savings accounts and fixed deposits
• Listed securities such as holdings in stocks, bonds and ETFs
• Holdings of units in mutual funds
• Your investment holdings managed by StashAway
• Investment property or secondary residences, deducting any mortgages or other charges held over the property from the value of the assets
• 33% of the market value of Recognised Crypto Tokens which include Bitcoin, Ethereum, XRP, Toncoin and Litecoin

How to Apply for Professional Client Status on StashAway (Verified Accounts)

1. Open your StashAway app. 
2. Access the menu: In the upper left corner of the app, you'll see three horizontal lines. Tap on this icon to open the main menu.
3. Select "Professional Clients": Scroll to the bottom of the menu and tap on the "Professional Clients" option.
4. Answer the questions: Carefully read each question and provide accurate information.
5. Confirm your application: Acknowledge that you understand the application by checking the appropriate box or following the app's instructions.
6. Upload your documents: Have digital copies of your investment asset documents ready (e.g., brokerage statements, portfolio summaries). Follow the app's prompts to upload them securely.
7. Wait for verification: The review process typically takes 1-3 business days. You'll receive an email once your status is confirmed.
8. Explore private investments: After verification, you'll unlock access to private investment options within your StashAway portfolio.

Yes, you can withdraw your consent to be recognised as an PI with us at any time.  

You can do this by filling in the Opt-In Withdrawal Form and sending it to support@stashawayhk. It may take up to 7 business days for us to process your request.  For the avoidance of doubt, the Opt-In Withdrawal Effective Date will be the date when your Opt-In Withdrawal Form is being processed by us.

In the event that you withdraw your consent, StashAway will not be able to treat you as a PI with effect from the Opt-In Withdrawal Effective Date. Generally, non-PIs may have access to a limited range of financial products and services as compared to those available to an PI. Some of our products and services may not be available to persons who are non-PI. 

However, subject to any other rights that StashAway may have under the applicable terms and conditions governing your account, investments, holdings, and/or dealings prior to the Opt-In Withdrawal Effective Date will not be affected solely by virtue of you withdrawing your consent from being treated as an PI. You will still be able to hold on to your existing investments. However, if you would like to, make new subscriptions, receive information or advice on new PI-only products, or switch out existing PI-only investments on or after the Opt-In Withdrawal Effective Date, we will not be able to accept such requests or transactions.

StashAway shall not be liable to you under any circumstances for any losses that you may suffer as a result of you opting out from being treated as an PI.

Becoming a Professional Client is not a prerequisite for becoming a Reserve client and thereby getting access to Reserve’s wealth advisory services. Personalised wealth advisory, comprehensive financial planning, and portfolio review sessions are available to all Reserve clients.

However, you have to become a Professional Client to gain access to Reserve’s private investment offerings.

If you no longer qualify as a Professional Client, you will lose the ability to add funds to your private market investments. However, your existing investments will remain active, and you will be able to access them, as well as discuss them with your Wealth Advisor.