HSBC Launches Portfolio-Based Advisory for HNW Clients

HSBC continues expanding its wealth management offering with the latest addition of a portfolio-based advisory solution.

HSBC has launched its portfolio-based advisory solution Wealth Portfolio Plus (WPP) targeting its Hong Kong-based Jade segment – clients with $1 million or more in investable assets.

Previously, HSBC Jade clients could only select individual products that are aligned to their risk profiles but the new offering will enable them to review investment portfolios holistically and grant access to a wider range of products.

We’re thrilled to bring portfolio-based advisory services to customers for the first time outside of a private bank through Wealth Portfolio Plus, powered by BlackRock’s Aladdin Wealth technology, said Sami Abouzahr HSBC’s head of customer wealth, wealth, and personal banking, Hong Kong. Since WPP provides portfolio-level rather than transactional-level analysis, new investment options can then become available to customers that fit their needs.

The WPP offering follows the launch of risk management solution Wealth Portfolio Intelligence Service (WPIS) last year which targets high net worth and affluent banking clients.

Thus far, WPIS has generated over 130,000 risk assessment reports and contributed nearly HK$30 billion ($3.86 billion) in net sales growth from more than 70,000 cases of investment portfolio rebalancing.

HSBC continues to expand its offering as part of its broader ambitions to become a leading wealth manager in Asia by 2025.

In June, the private bank launched online trading in Asia. And in April, it rolled out institutional services for single-family offices in the region.