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HSBC Enhances Digital Investment Solutions To Empower Millennials – Wealth Tech Digest #64

Key takeaways

✅ HSBC Enhances Digital Investment Solutions To Empower Millennials

Today’s digest is very interesting for millennials, as HSBC tries to ramp up its digital investment solutions to cater to younger investors. To encourage wealth building among millennial customers at an early age, HSBC has added several new solutions. These include $0 commission stock trading, wealth coaching, and a revamped fund investment platform. Afterall, Millenials 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%, compared to the same period last year. The substantial growth is attributable to the bank’s successful proposition — HSBC One, which rolled out a large-scale investment education and empowerment campaign. Because of these efforts, HSBC has launched three digital solutions including HSBC Trade25, Wealth Coach, and the enhanced FlexInvest platform. HSBC Trade25 is a new commission-free stock trading program designed to give millennial traders aged 18 to 25 investment freedom. On the other hand, Wealth Coach aims to be a trustworthy financial partner for young millennials, being the first-in-market online guidance for HSBC One. Finally, FlexInvest is a highly flexible and affordable channel for any novice investor to diversify their assets beyond stocks. It will be very interesting to see whether these efforts to accommodate millennial investors will pay off in the coming months.

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