Wealth planning goes mobile
We’re hiring a team of mobile personal wealth planners to support our growth ambitions in mainland China.
What do you get delivered to your home? Groceries? Household goods? Books, maybe?
HSBC customers in Guangzhou and Shanghai can now add financial planning to the list. A new team of 100 personal wealth planners is playing a key role as we expand our business in mainland China.
Equipped with digital tablets and messaging apps, our roving employees visit new customers in a location of their choice, whether at home, the office, or even a local café. This is a first for our business in the market, where we previously only offered financial planning in branches.
Greg Hingston, Regional Head of Wealth and Personal Banking, Asia-Pacific, HSBC said: “These new investments mark HSBC’s continued efforts to capture high-growth opportunities in Asia, particularly in mainland China, the region’s biggest wealth pool and one of the world’s largest insurance markets.”
Our 100 mobile wealth planners are just the first of many more. We plan to grow the team to 2,000-3,000 within four years. We’re already expanding the service to Hangzhou, and Shenzhen, in the Greater Bay Area, will follow soon.
The crux of this new service is truly understanding what Chinese customers want. In-depth consumer research showed us that they tend to plan for the needs of their entire family – covering not just their wealth, but also their health and long-term well-being.
“Wealth planning in mainland China is fast evolving to cover extended support for children and elderly parents, on top of personal wealth management and retirement savings,” said Bryce Johns, Global Chief Executive of HSBC Life.
“In the current environment, we have seen increased awareness for access to quality medical services, better health and lifestyle management and a greater desire to prepare for unfortunate events by taking out protection.”
Our mobile wealth planners can advise on a range of services including life and health protection, education savings, retirement, elderly care and legacy planning – bringing support together in one tailored package.
Opportunities in Asia
The new team is just part of our plan to grow our wealth business in mainland China. Our recent move to acquire the remaining 50 per cent stake in our life insurance joint venture, HSBC Life China , supports that ambition.
We have also established a fintech service company in Shanghai to help us design new digital tools to enhance our products, services and platforms.
In addition, we continue to invest to expand our wealth teams in other key Asian markets, where decades of economic growth coupled with rising life expectancy are leading more people than ever to make long-term financial plans. We see this as a significant opportunity for our business. Our aim is to be the leading wealth management provider in Asia, helping our customers achieve their ambitions and plan for a prosperous future.
Hear more from Greg Hingston about our Asia Wealth ambitions on LinkedIn (opens in new window) (opens in new window) (opens in new window)