The Medan office is the company’s first branch outside of Java.

Bareksa.com co-founder and CEO Karaniya Dharmasaputra said during the opening event in Medan that the large number of capital market investors in the city offered great potential for Bareksa Prioritas to expand its customer base.

According to data from the Medan branch of the Indonesia Stock Exchange’s (IDX) Go Public Information Center, the number of single investors (SID) in North Sumatra currently stands at 31,510. Of that figure, the number of stock investors in the province is 28,000, around 21,000 of whom are based in Medan.

"We are optimistic that we can secure more clients in Medan, because we offer products and services that will give our clients extra value," he said at the office opening event.

Karaniya added that North Sumatra accounted for around 3.31 percent of Bareksa.com's 380,000 retail investor clients as of January.

With more than 30 percent of Indonesia’s mutual fund investors as its clients, the company is the largest mutual funds marketplace in the country.

There were 988.946 mutual fund investors in the country as of December, according to the Indonesian Central Securities Depository (KSEI).

As a premium-segment investment product for high-net-worth groups, the clients of Bareksa Prioritas must have minimum account balances of Rp 5 billion (US$349,405). It also handles corporate clients on top of individual accounts.

Karaniya said Bareksa Prioritas provides special services to its clients, including technological solutions for on-boarding processes, transactions and asset monitoring. He added that advisors would assist clients in all of their investment processes.

Launched last year, Bareksa.com has more than 10 advisors who have decades of experience in the finance and banking industries as well as in the stock market, he said.

It has also entered partnerships with 35 investment management companies and offers 181 products across various asset classes.                                                          

“We believe that these offers will help us stay competitive and strengthen our business penetration among wealthy clients in North Sumatra,” Karaniya said.

He added that Bareksa Prioritas also offered exclusive offers to its clients through various programs, such as luxury lifestyle concierge services from Bérn & Durell.

The latter would provide clients with exclusive facilities to match their lifestyles in areas such as travel, arts, health and real estate.

Bérn & Durell partner Bernardus Sumartok said the concierge company shared Bareka Prioritas’ vision in the great potential of the niche high and ultra-high net-worth segment. 

He said wealthy clients tended to experience difficulties in enjoying an exclusive lifestyle due to limited time and access.

“One of the main points in the collaboration between Bareksa Prioritas and Bérn & Durell is that we give the clients invitations that allow them to access to our membership,” he said. (ars)