An overwhelming majority of Hong Kong residents who are taking financial advice from a qualified, independent professional prefer to pay for their financial advisory services through ongoing fees, rather than a one-time, upfront fee, a study by deVere Group has found.
In the survey of more than 3,000 of its clients who are based in Hong Kong, 76% replied that they would choose ongoing fees as their preferred method of payment, instead of a larger, one-time fee.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
This characteristic is particular and specific to the Hong Kong market place, confirming the need for financial advisory services to adapt to different business models in a range of global markets, according to deVere Group founder and chief executive Nigel Green.
Nigel Green, founder and chief executive, deVere Group, said: "This trait of the Hong Kong market place is markedly different to many other global markets.
"With this in mind, our business in Hong Kong will now primarily be focused around a fee-based wealth management model as this is what our clients here are clearly telling us they want."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
