The Hong Kong private wealth market is an attractive mix of East and West. Its long-established nature makes it larger and more diversified than is common in the rest of Asia Pacific. Local HNW investors have mainly sourced their wealth through a mixture of entrepreneurship and earned income. An expectation of better returns through advisors is driving uptake of professional advice, but investors are reluctant to relinquish control completely, preferring advisory mandates. The average portfolio is heavily invested into equities, and this is not expected to change. However, we forecast rising demand for alternative products, which currently only constitute a minor proportion of the typical HNW portfolio. HNW clients also show moderate to strong demand for financial and pension planning, while estate planning continues to be a service that is sold rather than bought.
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-?Family business owners and first-generation entrepreneurs together form the largest HNW client segment in Hong Kong. Wealth managers need to be prepared for clients with irregular incomes, heavy exposure to single industries, and finances entwined with their business.
-?Expats constitute a sizable proportion of the local HNW market and should prove to be a lucrative target segment.
-?Advisory mandates continue to dominate in Hong Kong. However, HNW investors prefer to manage simple investments themselves.
-?The average portfolio is heavily exposed to equities, while only the bare minimum is held in cash and near-cash products to ensure liquidity.
-?Already moderate to strong demand for margin lending is forecast to increase even further, and wealth managers should ensure that clients understand the risks associated with a leveraged investment strategy.
Verdict Financial’s ?Wealth in Hong Kong: HNW Investors 2016? report analyzes the investing preferences and portfolio allocation of HNW investors in Hong Kong. The report is based on our proprietary Global Wealth Managers Survey.
Specifically the report:
-?Profiles the average HNW investor in Hong Kong in terms of their demographics and analyzes the expat opportunity in the country.
-?Analyzes which wealth management mandates are preferred among HNW investors in Hong Kong and how demand will develop going forward.
-?Examines the allocation of HNW investors’ portfolios into different asset classes and how the allocation is expected to develop in the future.
-?Analyzes product and service demand among HNW investors in Hong Kong.
-?Develop and enhance your client targeting strategies using our data on HNW profiles and sources of wealth.
-?Give your marketing strategies the edge required and capture new clients using insights from our data on HNW investors’ drivers for seeking investment advice vs. self-directing.
-?Tailor your investment product portfolio to match the current and future demand for different asset classes among HNW individuals.
-?Develop your service proposition to match the product and service demand expressed by HNW investors in Hong Kong and react proactively to the forecasted change in demand.
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