The facility will add to the extended suite of wealth management solutions the bank already offers to enhance customer experience and meet the needs of the Middle East’s growing segment of affluent individuals.
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The new investment platform model is provided by Pershing, a wholly-owned subsidiary of the Bank of New York Mellon, and is a no-fee program that allows customers to access all their investments with HSBC through a single online window – the Wealth Dashboard.
By providing access to entire portfolios in one place, this service will reduce time delays in checking multiple accounts and present a mechanism to easily access a broad range of investment choices and insurance products available by the bank.
The innovative platforms will allow HSBC’s wealth managers to view customers’ holdings in a consolidated window, access numerous trading possibilities and provide a broad range of investment options. Moreover, it will also allow regular and timely valuations of customers’ holdings.
The platform which is part of bank’s growing wealth management offering includes its Financial Planning Tool – allowing wealth managers to quantitatively measure a client’s liquidity and risk appetite, before providing needs-based investment options for their portfolios.
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By GlobalDataWith the launch of the Wealth Dashboard, customers will now be able to view all their accounts in one window, even if they have subscribed to funds from multiple providers.
Gifford Nakajima, regional head of wealth development and retail banking and wealth management of MENA, HSBC, said: "The platform will allow customers to expand their investment portfolios by accessing a broad range of products, including, mutual funds, bonds and structured notes. Additionally, they will be able to leverage HSBC’s global presence to access investment opportunities across the world."
In addition to this consolidated platform, customers will be able to track the performance of their investments and their transaction history. Furthermore, the web-based portal will increase efficiency by allowing the timely execution of deals and providing clients with increased control over their investment portfolios.
