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Independent Wealth Management Forum 2019 HK - Exclusive Insights - David Wills

David Wills of Kenetic

Oct 28, 2019

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1. What does the Independent Asset Management industry in Hong Kong look like today and what’s the outlook for the industry given recent challenges?

Video transcript

1. What does the Independent Asset Management industry in Hong Kong look like today and what’s the outlook for the industry given recent challenges?

Opportunities. There's obviously a lot of money flowing through Hong Kong. There's a large degree of foreign companies based here, a lot of expats here. Clearly a lot of finance professionals and people in need of wealth management services. I'd probably even put myself in that category, and as it happens, I'm, at the moment, assessing a bunch of different financial advisors for my own personal financial wealth management. Challenges, well, I think the most obvious one is the political climate has certainly changed somewhat over the past few months, and that would make a lot of foreign investors and people who aren't based here somewhat wary about parking assets here. So, whether it's potential capital controls that the government might bring in on the banks here, I certainly know of some of my peers who are trying to move money offshore as a precaution against such measures taking place. Yeah, I would say the political situation would be the biggest threats to wealth management here.

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