/wealth management

News and resources on wealth, investment management and robo-advisory worldwide.
HSBC to bring money market  trading to the masses

HSBC to bring money market trading to the masses

HSBC in Hong Kong is offering mobile customers with as little as HK$100 to invest the opportunity to build a stake in six bond and equity index funds.

Available exclusively through the HSBC HK mobile banking app, users must first complete a profile questionnaire to find out their risk tolerance before being directed to a mix of money market fund and index funds.

Customers can either set up a monthly investment plan or make a one-off investment in 10 pre-selected funds, anytime, anywhere on their mobile.

Dubbed FlexInvest, the service does not charge any subscription fees, redemption fees or switching fees. A 'platform fee' will be waived for customers with an average monthly holding balance below HK$10,000. The fee will rise to a flat rate of HK$28 a month for portfolios of between HK$10,000 and HK$200,000, followed by a standard rate of 0.8 per cent per annum for portfolios exceeding HK$200,000.

Greg Hingston, head of retail banking and wealth management, Hong Kong, HSBC, says: “FlexInvest is designed to encourage our increasingly digital-savvy customers to build their wealth. We’ve made it cheaper and easier for our customers to invest in their future, regardless of assets size or their levels of investment expertise."

The service complements other investment options including stock trading, IPO, foreign exchange and time deposits currently available on HSBC HK's mobile banking app.

Comments: (0)

Forrester Report - The State of Digital Banking in 2019

Trending Stories