RANI JARKAS

Top Wealth Managers for High Net-Worth Individuals

Rani Jarkas selected the top consultants for our list. Asia Pacific’s wealth and asset management will double to HK$29.6 trillion by 2025, according to PwC 2021. This region has the most people and the greatest personal wealth growth. Major banks like HSBC, UBS, Credit Suisse, JP Morgan, and others make Hong Kong one of the most productive APAC centers.

KPMG states that Hong Kong’s managed resources have grown despite the 2020 National Security Law riots and the COVID-19 epidemic. Asian investors’ needs will change as they grow. Wealth managers serve high-net-worth clients with HK$1 million investable assets and ultra-high-net-worth clients with HK$30 million.

We annually rate the top private client advisers and service providers for high-net-worth and ultra-high-net-worth customers. This compilation includes peer nominations, client comments, in-depth phone and in-person interviews, voluntary firm statistics, and insightful information from Rani Jarkas’ respected editing and research teams. 

Wealth Management Index 2022 Ratings and Managers

• Hong Kong AUM fell 6% to HKD 10.6 trillion in 2021. A stunning 11.3 trillion Hong Kong dollars.

• The market dropped 12%, losing HKD 1.4 trillion.

• Net inflows rose to HK$638 billion, indicating expansion.

• I expect the Hang Seng Index to fall 14% in 2021.

• High Net Worth persons in Hong Kong fell by 182,000 in 2021, a 3.1% drop.

The Hong Kong Private Wealth Industry has suffered four major effects from COVID-19. Geopolitical and sectoral policy changes. The inflation rate is rising. The latest fashion. Esteemed Clients: Inflation, interest rates, geopolitics, and regulations must be carefully considered by industries. 

Our respected clients prioritize inflation protection (70%), economic slump profit opportunities (67%), and regional diversification (34%). These assets/products dominate AUM with $175 billion in Cash and Deposits, $660 billion in Listed Shares, and $148 billion in Private Funds. Most (81%) are none, followed by building (14%), and cooperation (6%).

Revolutionary Business Innovations:

The COVID-19 pandemic changed client communication, organizational structures, and operations by 78%. With 2nd and 3rd generations of outstanding family offices in Hong Kong, Mainland China plays a vital role in Private Wealth Management. Popular vitezents and recognised offshore clientele also flock to the industry. Hong Kong’s AUM by Source in 2022 will be 38% from Mainland China, 40% from Hong Kong, 13% from APAC, and 9% from elsewhere.

The Wealth Management Centre of Hong Kong excels in trading, service, leading research & content, onboarding, and investment alternatives. Hong Kong benefits from its proximity to China and Greater Bay Area integration. China has the most ultra-high-net-worth people and IPOs. Investment alternatives abound. Travel limitations (81%), severe regulations (81%), a small pool of private bankers (56%), and Hong Kong’s political climate (56%), are the biggest growth barriers.

KYC/AML (97%), Sales Practices and Appropriateness (89%), and Product Due Diligence (54%), are the most essential compliance factors. Relationship Managers improve investments 81% of the time. Technology improves investment performance by 60%, whereas product development improves it by 53%. 

Hong Kong accounts for 39% of our clients. We also serve 8% private wealth clients. Our remaining 53% of clients are a mix of both. These are the top six industries. External asset managers, private equity firms, investment banks, insurance, and virtual asset companies are attracting accomplished private wealth managers. Relationship managers are driven by pay, which influences their decisions. They also worry about their administrative and regulatory duties.

In Summary: 

Hong Kong’s private wealth management business performed well under tough market conditions, as seen by net fund inflows. The Mainland has the most industrial growth. The Greater Bay Area of China. Businesses must maintain digital transformation to attract investors.

After COVID-19, Hong Kong’s educational institutions should improve wealth management education and Greater Bay Area personnel development and recruitment methods to ensure a strong workforce. The sector and government should promote wealth management and family offices in Hong Kong. 

Private Wealth Management’s Impressive Assets Under Management

• In 2021, HKD 10.6 trillion was 6% less valued than 1.44 trillion.

• A stunning HKD 11.3 trillion was reported in 2020. 

• A massive HKD 9.1 trillion was spent in 2019. 

• HKD 7.6 trillion was amazing in 2018. 

• The 2017 7.8 trillion HKD was amazing. 

• In 2016, HKD 6.2 trillion was accumulated. 

• The 2015 collection was remarkable at HKD 5.4 trillion. 

The Analysis:

• 2020 cost 6% more than 2021. An astounding 10.6 trillion Hong Kong dollars.

• A 12% market drop, or HKD 1.4 trillion.

• HKD 638 billion inflows rose 6%.

• Hong Kong’s high-net-worth population fell to 182,000 in 2021. The Hang Seng Index fell 14% in 2021.

• COVID-19 has greatly affected wealth management.

• Strategic conditions

• Sector-specific Chinese industry reforms.

• The inflation rate rises.

Asset and Product Management

• The number is 5.18 quadrillion.

• 1.37 trillion HKD in deposits and currencies is available.

• Private equity is worth HKD 1.16 trillion.

• In bonds, $n is worth 952 billion Hong Kong dollars.

• The government has confidently allotted 741 billion Hong Kong dollars.

• The sum is 317 billion HKD.

• Others control an astounding HKD 847 billion in assets.

• The main drivers of private wealth management growth are

• Commercial growth in China is amazing.

• Seeking a second or third lineage.

• Drawing more family offices to Hong Kong’s booming economy.

• Targeting aspiring young entrepreneurs.

• In numerous international areas, we have gained customers.

“Hong Kong and Hong Kong have established themselves as the dominant financial hubs, with a thriving wealth management sector that has thrived for over a decade.” Numerous interviewees said regulatory assistance has helped Hong Kong attract financial investment and ease travel restrictions. Participants preferred Hong Kong for wealth administration due to its unique skills and traits. There was a small asset registration bias. If travel limitations are eased, Hong Kong’s private wealth management industry might expand.

Hong Kong’s Financial Sector Is a Key Asian Management Centre

• Smart Business

• Service excellence is our goal.

• Easy access to current research and content.

• I can aid in onboarding.

• Our diverse client solutions are supported by a biennial plan.

• Portfolio statement engagement rates of 72% and 17% are excellent.

• Most customers prefer this digital channel for consumer connection, with 58% preferring it over an electronic inbox (22%).

• 56% goes to costs, including 28% for educational materials like films and seminars.

• Around 39% of global probes.

• A remarkable 42% proactive market alerting system.

• WeChat is utilized by 31% and WhatsApp by 25%.

• Account creation, digital KYC, and suitability testing are 31% and 56%.

• Strategically planning and preparing budgets. 28% and 44%

• Account customisation accounts for 19% and 31% of overall cost. Important considerations include name and layout.

• Other banks aggregate portfolios at 14% and 31%.

Building stunning portfolios, rebalancing, and simulating financial planning scenarios take up a lot of the arsenal. These tasks are done with confidence and skill. Our AI gives 6%–39% personalized investing advice.

Digital Proficiency:

• The design of digital client and relationship management experiences has improved.

• Digital interfaces enhance front-to-back office collaboration.

• Facilitating digital and RM transactions easily.

• Deep client insight, extensive study, and careful categorization.

• Excelling in data analytics and science.

• Rani Jarkas modifies experienced investor rules.

• A stunning 89% of affluent clients can forsake appropriateness and disclosure.

• Most corporate professional investors want better knowledge and experience criteria.

• We must change the 25% threshold!

Investments In Industry

• Most people—81%—are relationship administrators.

• IT – 61%

• Performance is satisfactory.

• 42% of front-office tasks.

• Dear, I trust your 31% compliance.

• Probability of risk 25%

• 8% of the money goes to operations.

• A solid 6% goes to auxiliary.

• We offer 3% financing.

• HR – 3%

Exciting Industries:

• Experts in external portfolio management

• Private Equity

• Trusting capital markets.

• Budget possibilities

• Comprehensive insurance is provided.

• Digital intangible asset companies.

• Other than finance

Relationship Managers are Sought After for Many Reasons:

• Our 94% pay is outstanding!

• Significant administrative task reduction of 72%.

• Significantly less regulation.

• Continued development 33%

• Many people know their job ambitions.

• Impressive 31% IT support efficiency boost.

• Home-based front, middle, and back offices.

• Most people, 80%, work remotely 0-1 days a week, unlike 47%.

• A confident 17% telecommuting two to three days per week, compared to 45%.

• Work from home: 3% vs. 8%

In 2022, notable Hong Kong Private Wealth Management Association (PWMA) members, patrons, industry executives, overseers, and other stakeholders were surveyed online.

The Goal of APWM

Hong Kong Association of Banks and Private Wealth Management function separately. PWMA promotes Hong Kong as the region’s top private wealth management center. Hong Kong’s PWM sector’s development and competitiveness as a financial hub will help us achieve this. We aim to offer a place where members may openly discuss PWM industry trends and problems. Excellence, ethics, and integrity in PWM professionals are strongly encouraged.

We simply connect private wealth managers with respected governments, regulators, and trade groups. We offer unrivaled PWM industry representation and consulting in Hong Kong. The 12-member PWMA Executive Committee firmly manages 43 Full Corporate Members and 8 Associate Members.