Top Ten UHNW Wealth Managers
Success, in terms of revenues for a wealth management business, will naturally follow if the service ‘puts the client at the centre of everything you do’. That is the mantra Charlie Hoffman lives by, and it will come as no surprise that his book is worth tens of billions of dollars. Just under $2 billion of that was captured in the form of new assets in the past 12 months. In Hoffman’s case especially, each client will have invested more than $30 million with the bank or possess more than $100 million.
True to Hoffman’s philosophy, HSBC Private Banking’s structure of service forms a concentric circle around a client. The four pillars of its offering form a ‘virtual family office’ – there’s an investment team, a credit advisory team, global solutions advisers who provide the client with a direct link to the wider investment bank, and a dedicated wealth planning team.
What Hoffman is most proud of, however, is the financing capability of the bank, especially since it has ‘lent an enormous amount of money’ to support his clients’ circumstances and entrepreneurial ambitions.
‘When February came, we saw markets turn and clients become more concerned. Yet we’re now still holding their hands,’ he says. Plus he is unlocking opportunities across various asset classes and both public and private markets – ‘the ones which are going to create the greatest value,’ he says.