Riyadh – Mubasher: Vault, a global digital wealth management and advisory platform, has expanded its services into Saudi Arabia after obtaining the Capital Market Authority (CMA) license for advisory services.
The first digital private wealth platform in the MENA region also appointed Abdulrahman Al Sudairy as General Manager for Vault Saudi, according to a press release.
Vault was founded to serve investors in Saudi Arabia who hold between $1 million and $10 million in investable assets and who traditionally do not receive personalized services from retail platforms, and are routinely overlooked by private banks which are calibrated for much larger clients.
Saudi rabia’s investable wealth stands at $1.04 trillion and is projected to reach $1.31 trillion by 2029. Moreover, the Kingdom currently has a young population with a growing investment appetite and driving wealth creation with digital platforms.
This is enabling a shift from traditional asset bases such as cash and property and significantly reducing dependence on government linked pensions.
Co-Founder and COO of Vault, Sami Abdul Hadi, said: "As Vault marks its entry into Saudi Arabia, a country where we see the biggest opportunities, we are excited to bring together technology and market access to drive the wealth creation ambitions of the people here.”
Hadi added: “Abdulrahman is an accomplished business leader with deep experience in building and scaling growth across industries, which will play a crucial role as we launch our operations and build our team here. 81% of Saudi retail banking customers already access services via mobile, and with the existing digital infrastructure, we see a growing appetite for Vault's offering.”
The platform has an investment philosophy that mirrors its Sharia-compliant global core-and-satellite approach, with 45% of client AUM sits in globally diversified low-cost exchange-traded funds (ETFs), 30% in satellite positions covering thematic, custom and private allocations, and 20% in SmartCash, a fully liquid cash management solution.
This diversified approach forms a strong investment base while making allocations that are reflective of individual preferences and risk appetites, including access to private market strategies.
General Manager of Vault Saudi, Abdulrahman Al Sudairy, said: “Saudi Arabia’s economic diversification is shaping a new phase of wealth creation and financial sophistication, and Vault Saudi is committed to helping millions of investors participate in that journey."
Al Sudairy added: “At Vault, our focus is on creating access to personalized, goal-based advice and unlock long-term wealth creation by helping clients plan for retirement, education, and the major life decisions that shape their financial futures.”
Vault was founded in 2023 by Bilal Abou-Diab and Sami Abdul Hadi, serving customers from more than 20 countries. It is backed by global investors such as Outliers VC and Peak XV (formerly Sequoia Capital India & SEA).
The number of client accounts at the platform has grown 2.6x on an annual basis, while accounts surpassing $1 million in AUM have doubled every year since inception. Within their first year, the average client increases their total invested capital by 4x, a measure of conviction and trust in the advisory process, not market conditions.
