Hong Kong Cements Its Status as a Premier Global Wealth Management Hub
Hong Kong has once again demonstrated its strength as a leading international financial centre, emerging as the top choice for high net worth individuals seeking sophisticated private wealth management. The latest annual report from the Private Wealth Management Association (PWMA) and KPMG China highlights a decisive shift in global client preferences, with the city significantly outpacing other major financial hubs.
This year, 44% of major global private banks, including UBS, HSBC and JPMorgan, reported that their clients now prefer Hong Kong above all other markets for booking assets. This marks a significant rise from 13% the previous year, reinforcing confidence in Hong Kong’s position as a premier destination for wealth management. This trend underscores Hong Kong’s continued relevance for internationally mobile wealth and multi-jurisdictional families and highlights growing confidence in Hong Kong as a stable, well-regulated hub for cross-border asset management.
Rising Demand and Strengthening Confidence
According to the report, 59% of wealth management institutions have recorded increased demand from clients looking to open accounts or consolidate their assets in Hong Kong. This contrasts with a cooling trend across competing international centres and underscores the city’s resilience as a key wealth management hub.
Industry sentiment is equally strong. For the first time, 100% of PWMA members expressed a positive outlook for Hong Kong’s wealth management market over the next five years, a notable jump from 76% the previous year. Such sentiment signals a market environment that international families and private clients may view as conducive to long-term planning.
What Is Driving Hong Kong’s Wealth Management Growth?
Several structural advantages continue to support Hong Kong’s momentum as a global hub for private wealth management:
- Gateway to Mainland China: Hong Kong’s established position as the primary bridge to mainland China remains a critical strength for investors and wealth holders across the region.
- Dynamic Capital Markets: Recovery in the stock market and renewed activity in the Initial Public Offering (IPO) market have been major contributors. Hong Kong recently returned to the top tier of global IPO destinations, attracting capital from Southeast Asia, the Middle East, the US and Europe.
- Government Support for Family Offices: Strong policy backing, including initiatives to attract global family offices and expand cross-border investment schemes, continues to draw international private capital to the city.
Future Trends: Family Offices, Next-Generation Clients and Alternative Assets
The report identifies family offices and next-generation wealth holders as the primary drivers of future growth. The proportion of mainland Chinese clients is also expected to rise further over the coming years, reinforcing Hong Kong’s position as a trusted jurisdiction for cross-border wealth planning. This demographic shift reflects the continued flow of regional wealth into Hong Kong and the city’s appeal to emerging next-generation decision makers.
Investment strategies are shifting as well. High net worth clients are increasingly diversifying beyond traditional asset classes. Allocations to alternative assets, particularly private credit, are expected to triple by 2030. At the same time, Artificial Intelligence and digitalisation remain central investment themes, reflecting growing interest in future-focused technologies.
A Sector Transforming Through Technology
Technology is increasingly shaping Hong Kong’s private wealth management landscape, with AI-driven analytics, digital reporting and streamlined compliance processes becoming standard tools across the sector. This shift is influencing expectations among private clients and family offices, who place growing importance on clear reporting, responsiveness and access to high-quality information across jurisdictions. As digital capabilities continue to mature, they are becoming an integral part of how wealth holders engage with advisers and manage multi-jurisdictional arrangements.
Supported by world-class infrastructure, a strategic location and a forward-looking policy environment, Hong Kong is not only recovering; it is accelerating its trajectory as the world’s leading cross-border wealth management centre.
Why This Matters for Private Clients and Family Offices
For private clients and family offices, Hong Kong’s strengthened position as a preferred wealth management hub means greater access to sophisticated banking options, a broader range of investment flows and a more supportive environment for establishing or expanding family office structures. As the market evolves, clients are increasingly prioritising advisers who can provide both technical expertise and efficient support across Hong Kong’s growing ecosystem.
To explore how Equiom supports private clients and family offices in navigating wealth across borders, please contact our Hong Kong team.
This article has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. This article cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained within this article without obtaining specific professional advice. Please contact Equiom Group to discuss these matters in the context of your particular circumstance. Equiom Group, its partners, employees, and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this article or for any decision based on it.
