HSBC UK Private Banking $HSBA (+1,45%) is the first major UK bank to deploy Addepar's leading software platform specifically for wealth managers. This follows the launch in the US private bank, which is due to take place in the Channel Islands and Luxembourg later this year.
HSBC UK Private Banking serves domestic and international high net worth individuals and family offices. As one of the largest banking and financial services organizations in the world, HSBC is committed to delivering a superior customer experience through leading digital solutions.
The Addepar platform offers enhanced client reporting with complex aspects such as alternatives and account aggregation. Relationship managers and investment advisors can provide their clients with customized, comprehensive performance data and investment insights with just a few clicks.
In addition, the platform can also aggregate the performance of clients who hold investments with other asset managers, giving clients a complete overview of their entire investment portfolio.
Charles Boulton, Head of Private Banking, HSBC UK, said: "We are delighted to launch Addepar's wealth management software platform. Providing tailored, real-time reporting across all asset types is critical for our clients.
With Addepar's platform, our clients have the best possible insight to manage an increasingly complex financial landscape. The ability to present a client with their entire portfolio, giving them a holistic view of their assets in different currencies and with different asset managers, is a big step forward for us."
James Thomson, Head of Investment Advisory, HSBC UK Private Banking, said: "As a leader in alternative investments, and with more and more private banking clients looking to hold a proportion of their portfolio in this asset class, Addepar's advanced alternative investment reporting capabilities were a key selling point.
Thanks to our new reporting capabilities, our investment advisors can provide our clients with deeper insights and more transparency in a more efficient way. This gives them more time to focus on what really matters: providing quality advice based on sound analysis."
Eric Poirier, Managing Director of Addepar said: "Addepar is on a mission to bring greater transparency, connectivity and intelligence to the global investment ecosystem. HSBC UK Private Banking's choice of our platform reflects exactly this kind of forward-thinking leadership - a solution that provides investors, advisers and their clients with a comprehensive and timely data-driven perspective to tackle complexity with actionable insights. As our first major UK banking partner, HSBC is redefining what it means to lead with data and deliver a truly differentiated client experience."
