HSBC has launched its portfolio-based advisory solution, called Wealth Portfolio Plus (WPP), to further expand its wealth management offering.

The new solution will help HSBC Jade clients with professional investor status in Hong Kong to develop a diversified portfolio.

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This portfolio-based advisory service leverages technology by BlackRock’s Aladdin Wealth.

HSBC Jade clients, who could only opt individual products based on their risk tolerance previously, will be able to review investment portfolios holistically.

WPP will also provide them with access to a range of additional products across the risk and return spectrum.

These include unit trusts, bonds, equities, structured products, warrantsand cash.

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With WPP, HSBC Jade clients will also receive access to analytic tools, real-time wealth projection and assistance from a dedicated Jade Director.

HSBC Hong Kong Wealth and Personal Banking head of customer wealth Sami Abouzahr said: “Since WPP provides portfolio-level rather than transactional-level analysis, new investment options can then become available to customers that fit their needs.

“WPP also includes real-time alerts, keeping customers informed and confident that their hard-earned wealth is in good care.”

The launch of WPP follows the roll out of Wealth Portfolio Intelligence Service (WPIS) to HSBC Jade and Premier clients last year.

The new service reflects HSBC’s strategic focus on the high net worth (HNW) segment as part of its commitment to the Asian wealth business.

This unit registered an increase in the number of HNW clients in Hong Kong and a double-digit growth in their asset under management from a year ago.

The British lender reported a profit after tax of $8.4bn in H1 2021, a rise of over $3bn year-on-year, and profit before tax increased from $6.5bn to $10.8bn.