HSBC launches wealth coach for millennials

The Hong Kong and Shanghai Banking Corporation has launched digital solutions including "wealth coaches" to attract millennials. 

Millennials are one of the key pillars of HSBC’s Asian Wealth strategy. In Hong Kong, the number of new to bank millennial customers for the first six months in 2021 jumped by over 30 percent, compared to the same period last year, accounting for nearly half of all new to bank customers, said Brian Hui, head of Customer Propositions, International and Marketing, Wealth and Personal at HSBC.

To that end, the bank has launched three digital solutions including HSBC Trade25, Wealth Coach and the enhanced FlexInvest platform.

With Trade25, millennial traders aged 18 to 25 can join via HSBC HK Easy Invest app and get zero commission and platform fees for trading HK, US and China A-shares up to HKD250,000 per month for HK$25 a month.

They can also have free access to Trade25 Academy for stock trading knowledge - a financial education hub where customers can learn and boost their stock trading knowledge.

Meanwhile, customers can reach out to a Wealth Coach via Live Chat or Mobile Chat, or arrange a Zoom-based 1-on-1 ‘ChatnChill Bar’ session to learn more about investments and personal finance.

To that end, FlexInvest enables young customers to begin their fund investment with as little as HK$100. The service has been strengthened with its new Simple Starter Journey, where customers can easily identify their preferred funds for building their investment portfolio with a few taps.