Private Banks

HSBC Launches Prism Advisory For Private Banking Clients In Asia

HSBC has announced the launch of its hybrid advisory service, HSBC Prism Advisory (“Prism”), in Asia, marking a new milestone in the Bank’s strategy to combine cutting-edge technology with human expertise to deliver investment content and solutions.

Powered by Aladdin WealthTM technology, an industry-leading risk platform from BlackRock, Prism harnesses deep, data-driven analytics alongside expert guidance from HSBC advisors to help private banking clients navigate market complexity and make more informed investment decisions according to their objectives.

The contractual service is available to HSBC Global Private Banking clients booked in Hong Kong and Singapore and will be extended to eligible retail banking customers in Hong Kong later this month.

With Prism, clients can optimise their portfolio using CIO1 Model Portfolios which are anchored by HSBC Global Private Banking’s Strategic Asset Allocation and incorporate CIO’s tactical and thematic views. Clients can also choose to customise a model portfolio to express their personal views and objectives and, working with an advisor, build a portfolio from the ground up using Prism’s Bespoke Asset Allocation capability.

‘Always-on’ Prism monitors the portfolio around-the-clock, providing timely notifications about portfolio health and actions for the client to consider. For instance, during a sharp market movement, Prism can alert the client to portfolio risks and opportunities via their mobile device and deliver personalised advice through an HSBC advisor, who can use Prism’s institutional-quality analytics to ascertain how an action would impact the portfolio relative to the client’s objectives.

Using Prism’s wealth projection function, clients can better plan for their long-term goals by simulating potential returns on their portfolio. Clients can also examine the potential strengths and weaknesses of their portfolio by testing how it could react to certain market conditions and specific historical and potential scenarios, leveraging 50 different available stress tests. For example, clients can ascertain the impact of persistently high or easing inflation on their investment portfolio.

 

Siew Meng Tan, Regional Head of Global Private Banking, Asia Pacific, said: “In an increasingly complex world, our clients look to us for personalised and proactive advice to help them navigate markets, maintain portfolio health and identify suitable investments. The launch of Prism shows our continued commitment to investing in technology to ensure the seamless delivery of our CIO content and investment capabilities with a best-in-class client experience.”

 

Wei Mei Tan, Global and Asia Head of Advisory, Global Private Banking and Wealth, said: “At HSBC, we advocate providing a portfolio-based advisory approach by leveraging our substantial investments in portfolio analytics and technology. With the introduction of Prism, the advisory client journey now delivers optimal goal and risk alignment with ongoing monitoring to assist clients in making the right decisions.”

 

Stefan Lecher, Regional Head of Investments and Wealth Solutions, Asia Pacific, said: “HSBC Prism Advisory is a primary example of how we are combining innovative digital platforms with Advisor-led expertise to construct investment portfolios that truly reflect our clients’ unique objectives. We provide a range of service levels allowing our clients to select what is most appropriate for their investment profile and specific servicing needs.”

 

The launch of Prism in Asia marks HSBC’s latest deployment of Aladdin WealthTM technology since announcing a global deal with BlackRock to use the platform in 2019.2 In Asia, HSBC Global Private Banking has invested over USD200m over a four-year period to build and innovate its core banking and digital platforms to meet the fast-changing wealth and lifestyle needs of clients.