Pecunia

What Pecunia does

Pecunia Asset Management (Pecunia AM), formerly Nordic Invest, is an independent financial advisory firm founded in 2005 and headquartered in Kuala Lumpur, Malaysia, with a register office in Labuan and additional offices in Bangkok, Thailand and Marbella, Spain. The firm serves expatriates, private individuals, and corporations across 26 countries in Southeast Asia and Europe, offering a portfolio of advisory services that includes tax planning, personal savings, pension planning (QROPS, SIPPs), portfolio management, estate planning, protection, corporate protection (key-person insurance), and group health plans. Pecunia employs a multi-manager open-architecture approach, sourcing products from third-party fund managers including Old Mutual International, Custodian Life, and RL 360, and relies on a third-party client portal (NavGlobal) rather than proprietary technology platforms.

Pecunia's commercial model is professional services-based: revenue is generated through personalized, quote-based advisory fees on multi-year engagements, with both advisory and discretionary portfolio management mandates available. The go-to-market is direct and relationship-driven — a team of qualified financial advisers, including a Head of Sales for Europe, Key Account Manager, Business Development Manager, and Equity Analyst, delivers services via face-to-face consultations, remote engagement (phone, WhatsApp, email), and offices in three regions. Customer acquisition is primarily top-of-funnel through the company website (available in English and Swedish) with mid-funnel conversion via a risk profile questionnaire and bottom-funnel conversion through direct consultation; no formal sales performance metrics or AUM figures are disclosed.

The firm is privately held and founder-led, with CEO/Founder Niklas Blomqvist and COO/Partner Filip Karlsson at the center of an ownership and operating partnership that also includes Daniel Walker (Partner) and JOOL Group (strategic partner since 2013). Material historical strategic moves include the 2014 Bangkok office opening, the 2015 acquisition of Montpelier Nordic (extending services to Labuan), the 2022 Marbella office opening to grow European business, and the 2024 rebrand from Nordic Invest to Pecunia AM. Full LFSA (Labuan Financial Services Authority) licensing underwrites the firm's regulated advisory authority, particularly for cross-border pension and tax structuring work.

Name

Pecunia

Legal name

Pecunia Asset Management

Website

https://pecunia-am.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Pecunia Asset Management is an independent financial advisory firm serving expatriates, private individuals, and corporations across 26 countries in Southeast Asia and Europe. Founded in 2005, it provides tax planning, pension transfers, portfolio management, estate planning, and corporate protection services.

Ownership category

akta.pro rank

Product category

Financial Advisory and Wealth Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers) (FSAAACAE)

akta.pro secondary industries

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH), Association & PEO Group Health Plans (AHP/PEO-Sponsored) (FSAIAFAH)

Keywords

• Financial advisory services
• Wealth management
• Expatriate financial planning
• Pension transfer advice
• Corporate protection services

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Financial Advisory Services: Pecunia generates revenue through fees for personalized financial advisory services including investment advice, tax planning, pension planning, portfolio management, estate planning, and corporate services such as group health plans and corporate protection.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Pecunia AM provides independent, personalized financial advisory and wealth management services to individuals and corporations. Its personal services cover tax planning, savings, pension planning (including QROPS/QNUPS/SIPPs), portfolio management, estate planning, and protection, while its corporate services cover key person insurance, group health plans, and tax planning strategies. Advisory is delivered through qualified financial advisers across offices in Malaysia, Thailand, and Spain, supported by a client portal and access to international fund managers.

Product overview

Pecunia AM is a financial advisory firm offering a comprehensive suite of financial planning services to individuals and corporations across Southeast Asia and Europe. The company operates a unified platform of advisory services spanning personal offerings (Tax Planning, Personal Savings, Pension Planning, Portfolio Management, SIPPs, Estate Planning, Protection, and QROPS) and corporate services (Corporate Protection and Group Health). Formerly known as Nordic Invest, the firm rebranded to Pecunia AM and acquired Montpelier Nordic in 2015. The company sources products from leading financial institutions including Old Mutual International, Custodian Life, and RL 360. With over 100 years of combined industry experience and LFSA licensing, Pecunia serves customers across 26 countries through offices in Bangkok, Kuala Lumpur, and Marbella.

Differentiator

Problem solved

Functional benefit

Products and services

• Tax Planning Tax planning services for expatriates and private individuals, offering tax-efficient structures across multiple jurisdictions worldwide.
• Personal Savings Customized savings plans allowing clients to choose savings amounts, terms, and investment strategies matching their risk tolerance, utilizing leading global fund managers.
• Pension Planning Specialized pension advice for expatriates covering UK pension freedoms, flexible drawdown, annuities, and QROPS/QNUPS transfers.
• Portfolio Management Personalized investment advice and portfolio management using a multi-manager approach, offering both advisory and discretionary services for expatriates.
• SIPPs (Self-Invested Personal Pension) Self-Invested Personal Pension offering greater control over pension investments with tax-free growth, 20-45% tax relief on contributions, and inheritance tax mitigation.
• Estate Planning Wealth transfer planning including will preparation, lifetime transfers optimization, trust arrangements, and life assurance to maximize beneficiary inheritances.
• Protection Financial protection planning services to identify protection needs and ensure peace of mind for individuals and families.
• QROPS (Qualifying Recognized Overseas Pension Scheme) Transfer services for UK pension holders moving abroad, offering tax advantages, expanded investment options, and avoidance of UK inheritance tax.
• Corporate Protection Key person insurance and succession planning services to protect businesses from the financial and operational impact of losing critical personnel.
• Group Health Employee healthcare solutions including medical insurance, health and wellness programs, and telemedicine services for businesses.

Quantifiable outcome

• Regular portfolio reviews ensure ongoing alignment with personal objectives and aims

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Montpelier NordiccoreStrategic or Co-development Partner · 1 January 2015Pecunia acquired Montpelier Nordic in 2015, expanding services to Labuan, Malaysia and broadening the company's service offerings.
• JOOL GroupcoreStrategic or Co-development Partner · 1 January 2013JOOL Group became a partner to Pecunia in 2013, providing strategic support and collaboration within the financial advisory business.
• UK FCA-Authorized Pension PartnercoreStrategic or Co-development PartnerPecunia works with a UK partner authorized and regulated by the FCA with fully qualified pension transfer specialists to provide advice on transfers out of schemes worth over £30,000, including QROPS and QNUPS transfers.

Scale indicators4 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Holborn Assets: UK- and Malta-based independent financial advisory firm serving expatriates with pensions, QROPS, investments, and tax planning. Highly comparable to Pecunia given the same expat-focused model, QROPS specialism, and multi-jurisdiction footprint.
• Blevins Franks: Long-established independent financial adviser for expatriates, particularly strong in Southern Europe (Spain, Portugal, Cyprus, France). Comparable to Pecunia in serving Nordic-UK expats with cross-border tax, pensions, and investment advice.
• deVere Group: One of the largest global independent financial advisory firms for expatriates, offering pensions, investment, and wealth management across multiple jurisdictions. Competes head-to-head with Pecunia for the same expat advisory wallet.
• Blacktower Financial Management: Independent financial advisory group serving UK and international clients, with notable presence in Southern Europe and the Mediterranean. Targets similar expat retirees with portfolio, pension, and tax planning services.
• The Fry Group: UK-headquartered international wealth management and financial advisory firm serving expatriates with pension transfers, tax planning, and discretionary investment management. Direct overlap with Pecunia's expat advisory proposition.

Broad incumbents

• Old Mutual International: A listed incumbent international life and wealth provider — both a Pecunia product partner and a broader competitor offering savings, protection, and investment solutions across multiple jurisdictions to the same expat customer base.
• RL 360: International savings and investment provider serving expatriate clients with bonds, regular savings plans, and pensions. Functions as a Pecunia distribution partner but also as a broader-market incumbent with comparable cross-border wealth products.
• Custodian Life: South African-headquartered long-term insurance and investment provider operating internationally, including LABUAN. Both a Pecunia product partner and adjacent competitor in expat savings and investment products.
• Julius Baer: Global wealth manager with extensive SEA presence offering cross-border investment advisory, pensions, and wealth planning for internationally mobile high-net-worth individuals — overlapping with Pecunia's affluent expat target segment at the higher AUM end.

Emerging players

• StashAway: Leading Southeast Asia-headquartered digital wealth management platform offering automated, low-fee portfolio management to mass-affluent and expat investors. Represents the emerging digital-advisory threat to Pecunia's discretionary portfolio service.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pecunia