The bank is now targeting Hong Kong investors with HK$5m.
In Hong Kong, more HNWIs favour wealth preservation, according to a Quilter report.
Complex fee structures and the need for a more personal connection with relationship managers have led to dissatisfaction among Asia’s high net worth investors.
Wealthy investors in Asia should steer away from location as the only component to consider in real estate investing, argues Simon Redman, managing director, client portfolio management at Invesco Real Estate.
Another robo-advisor has joined the parade of competitors in Asia and aims to target wealth management of high-net-worth individuals and family offices.
Deutsche Bank Wealth Management is planning to hire 100 client-facing employees this year, in which half of them will focus on high net worth individuals in Asia-Pacific.
Real estate remains the most preferred asset class for the growing base of high net worth individuals in Asia Pacific excluding Japan, according to the Asia Pacific Wealth Report 2014, released by Capgemini and RBC Wealth Management.
The number of high net worth individuals across the world surged by 14.7% to 13.7m over the last year, according to a survey by Capgemini and RBC Wealth Management.