Hong Kong's Everbright Gets Into The Wealth Management Act

Tom Burroughes

10 May 2018

, the Hong Kong-based brokerage and financial services group, has dived into the wealth management space with a new account offering.

The business’s Asset Power Account is described by the firm as an “exclusive wealth management service tailored to high net worth investors”. For the purpose of this offering, “high net worth” means a person with at least HK$8 million ($1.01 million) in investible assets, it said in a statement earlier this week.

The service enables clients to invest across services including stock and fund investments, margin financing, bonds, and structured products, such as equity linked notes.

“Asset Power represents another significant strategic move of Everbright Sun Hung Kai to expand its wealth management business,” Kevin Tai, deputy chief executive of Everbright Sun Hung Kai, said.

The wealth service also provides clients exclusive rewards and and VIP offers and services such as competitive financing rates, preferential IPO subscription interest rates, and favourable exchange rates at Global Payments, Everbright Sun Hung Kai’s online remittance service.

To open such an account, clients must maintain a portfolio value of HK$3 million or above with Everbright Sun Hung Kai.