HSBC Bank USA has partnered with digital wealth management firm Marstone to develop an investment advice platform called HSBC Wealth Track.
The launch of this digital service is hoped will boost the bank’s wealth management footprint beyond its branch offices and cater to a growing demand for digital banking.
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HSBC Wealth Track can be used by the bank’s clients to immediately generate a portfolio for retirement and non-retirement accounts.
The partners intend to pilot the new digital investment advice solution later this month. The service will be aimed at customers with at least $5,000 in an individual retirement account or $10,000 in discretionary accounts.
HSBC US head of wealth management Michael Boardman said: “Our primary ambition is to serve clients in continuously better, faster ways on terms that they can dictate.”
New York based Marstone will provide HSBC a fully customisable platform, allowing the bank to implement their own branding and investment offering.
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By GlobalDataCEO and founder Margaret Hartigan said: “Our technology is not only a tool for digital transformation, in the case of this partnership, but also ensures HSBC’s ability to continue delivering high quality solutions and services as their client base grows.”
