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SCHWAB_CUT2_EN (3)

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The 2020 Charles Schwab Hong Kong Rising Affluent Financial Well-Being Index showed that the Hong Kong rising affluent scored over 55 points in their overall financial well-being Nearly a 1.5 point increase over the 2019 results The index covers confidence, planning, management, and engagement The engagement score with financial advisors increased the most, while the planning score decreased slightly The rising affluent in Hong Kong felt financially unprepared for their financial concerns, especially facing challenges brought on by the COVID-19 impact in 2020. This has resulted in a lower expectation of the liquid assets required to be financially comfortable and financially rich, as well as an increase in other sources of income. We found that more rising affluent shifted their risk appetite from aggressive and progressive to steady and conservative. They also felt the urgency of global diversification. Less than 4% say they have what the industry views as a modern approach to financial planning, while nearly half think the possibility to achieve their financial goals has lowered. However, most of them still tend to be self-reliant when it comes to financial planning. Overall the Hong Kong Rising Affluent had a lower planning Score We believe a modern approach to financial planning is key to improving the rising affluent's financial well-being A modern approach includes a financial roadmap based on their age, assets, risk tolerance, life goals, and timeframe, as well as appropriate advice from financial advisors to help them meet their financial goals At Charles Schwab Hong Kong we offer a modern way to manage and build wealth while helping investors achieve better financial outcomes from their investments in the U.S.

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Duration: 1 minute and 59 seconds
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Language: English
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Posted by: sonialeung on Jun 4, 2021

SCHWAB_CUT2_EN (3)

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