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The fifth annual Hong Kong Private Wealth Management report provides an in-depth view into the current landscape and how the industry has coped with recent unprecedented challenges. The report also examines growth opportunities and trends along important themes of technology, regulation and talent.

The report is largely based on an online survey of Private Wealth Management Association member institutions and a client survey, as well as interviews with industry executives in Hong Kong.

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Key findings

  • The PWM industry in Hong Kong has overcome the unprecedented challenges seen since June 2019
  • Mainland China, attracting family offices and targeting the younger generation remain the main growth opportunities for Hong Kong’s PWM industry
  • The industry is improving at meeting clients’ digital expectations, with clients rating PWM institutions higher than they rate themselves. COVID-19 is accelerating digital transformation, but challenges around technology solution implementation need to be addressed
  • Amid recent events in Hong Kong and global market uncertainty, the industry remains concerned about the regulatory environment
  • Although talent supply is increasing, recruitment, retention and finding the right skills and experience remain key industry challenges