HSBC Private Bank aims to manage, protect and grow clients assets through their expertise in banking, investing and wealth management.
HSBC Private Bank claims that a relationship manager needs to know a client, their family and business well to provide a tailored service and be able to advice them. It employs relationship managers who try to help clients identify and secure financial goals while connecting them to market opportunities for growth.
HSBC Private Bank's services can be briefly summed up below:
1. Banking:
HSBC Private Bank has various accounts and banking services such as:
- Transaction banking:
Currency and deposit accounts are offered in many major currencies by HSBC Private Bank. It also offers personalised banking solutions to HNWs and their families. This is supposed to allow clients to make international payments and enjoy greater flexibility and control.
- Credit and debit cards:
The cards offered by HSBC Private Bank are said to facilitate a private client's standard of living by providing convenience, safe travels, cash withdrawals and other easy pay options.
- Foreign exchange:
High-net-worth individuals usually have businesses and family across borders and HSBC Private Bank claims to understand this need and provide integrated and global foreign exchange services. These services include FX spot and forward contracts, FX derivatives, dual currency instruments and precious metals.
- Margin trading facilities:
HSBC Private Bank claims that these services enable clients to trade derivatives and foreign exchange with ease. They allow for trading in a wide variety of financial products like: swaps, options, futures and forwards.
2. Borrowing:
HSBC Private Bank is said to provide tailored lending solutions to their clients including marketable securities backed finance, residential mortgage lending and specialised asset finance.
3. Investing:
HSBC Private Bank offers clients various management and advisory investment services.
These can be broadly classified into 3 categories:
| No. |
Category
|
Sub-category |
| 1. |
Advisory services |
- |
| 2. |
Discretionary services |
- Multi-asset solutions
- Single-asset solutions
|
| 3. |
Execution only services |
- |
Investment approach:
HSBC Private Bank claims to have a disciplined approach to investing which can be summarised below:
- Understanding clients:
The investment managers are said to diligently analyse a clients risk tolerance to understand their investment needs and their capacity for risk.
- Strategic asset allocation:
Based on the findings in the first step and a client's risk appetite, HSBC Private Bank creates a strategic asset allocation.
- Portfolio construction:
HSBC Private Bank state that their open architecture allows them to create a portfolio using a wide range of HSBC and third-party managers.
- Portfolio monitoring and review:
Continuous assessments of the portfolio's performance, recommendations for improvement and adjustments based on a client's risk appetite is conducted by HSBC Private Bank (we would recommend reading the expert verdict).
Investment managers are also said to gain from the years of experience HSBC Private Bank has in alternative investments services, in partnership with HSBC Alternative Investments Limited (HAIL). The alternative investments services offered include customised segregated mandates, co-investment opportunities, private market funds and commingled funds.
4. Wealth planning:
HSBC Private Bank claims to have 75 years of experience in planning, organising and transferring family wealth. As part of this wealth planning process, their wealth planning team digs deep into a client's current wealth organisation and creates solutions based on their needs.
Their wealth planning services and be summarised below:
|
Service
|
Description |
| Succession planning |
Helping wealthy individuals protect their money and secure it for future generations. |
| Trust administration |
HSBC Private Bank can help clients with the administering responsibilities of a trust to secure their wealth. |
| Private funds |
Private funds are used by HSBC Private Bank to simplify complex finances and investment preferences within a given family. |
| Estate administration |
HSBC Private Bank claim to help clients manage the challenges of managing a large estate and its distribution. |
| Liquidity planning |
It provides tailored solutions to help private clients maintain liquidity as part of their wealth management and succession planning services. |
HSBC Private Bank also provides family enterprise succession services like planning for a business, selling a business, creating a family office and managing a family's wealth.
5. Insights:
HSBC Private Bank provides various wealth management and market insights such as house views, ESG, sustainable investing insights, lending and other wealth planning tips.
NOTE:
We would highly recommend reading the 'expert verdict' section of this review to make an informed financial decision.
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