HSBC Private Bank is the main private banking business of HSBC Group.
HSBC Private Bank was founded in 1988. It currently employs 6,500 employees across 96 different offices around the world.
HSBC Private Bank aims to be the leading international private bank for business owners and their families. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world.
HSBC Private Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (UK FCA reference number: 114216).
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:
HSBC Private Bank has various accounts and banking services such as:
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.
HSBC Private Bank offers clients various management and advisory investment services.
These can be broadly classified into 3 categories:
|3.||Execution only services||-|
HSBC Private Bank claims to have a disciplined approach to investing which can be summarised below:
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:
|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.
HSBC Private Bank provides various wealth management and market insights such as house views, ESG, sustainable investing insights, lending and other wealth planning tips.
We would highly recommend reading the 'expert verdict' section of this review to make an informed financial decision.
Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:
HSBC has an online private banking service which claims to offer convenience to clients by:
You can learn more about it on their website. However, we would highly recommend reading the expert verdict section of this review before you go.
HSBC Private Bank offers DFM services that it claims are tailored to each clients individual finances and needs.
All portfolios are managed based on 4 common principles:
Their solutions include:
Yes, HSBC Private Bank does offer philanthropy services.
Whether clients wish to inspire the next generation or make a lasting impact, HSBC Private Bank's philanthropy services can help them plan, execute and manage their philanthropic activities.
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HSBC is undoubtedly a huge brand, but we would question the quality of its private banking service.
In our experience, private banking clients with HSBC are assigned salespeople called relationship managers, who are neither skilled nor qualified to offer the level of service, care and solutions you would expect.
If you are already a private banking client of HSBC, we would recommend a no-obligation Second Opinion to ensure you are on track to reach your ideal future.
Additionally, we are happy to review the financial plan that has led to the investment portfolio you currently have.