The rise of independent wealth advisors has transformed the landscape by offering client-focused guidance and long-term strategies, though many have faced growing administrative, settlement, and compliance challenges that limit time for client engagement.

iFAST HK created a fintech wealth management platform to help advisors manage these challenges. By digitising operations, the platform allows advisors to focus on what matters most: understanding their clients and delivering value-driven advice.

The iFAST wealth management platform now provides a comprehensive suite of integrated solutions, from advisor and investor portals to mobile apps, APIs, and white-labelling, demonstrating its commitment to innovation, partnership, and the advancement of wealth management.

Today, iFAST supports more than 2,000 wealth advisors in Hong Kong and over 14,000 globally, serving over one million investors and offering access to a broad range of investment products, from unit trusts and bonds to stocks, ETFs and discretionary portfolios.

“The wealth management industry has changed tremendously, but our vision remains the same. We aim to empower advisors with transparency in product selection and fee models while helping them provide exceptional client service.”

said Glory Lau, General Manager, Platform Services, iFAST HK. Glory added on, saying that the company is proud to have grown alongside its partners and will continue to support them in delivering greater value to clients.

Investors continue to trust human advisors rather than AI for financial planning, valuing the personal connection and ethical guidance that advisors provide.

While technology cannot replace advisors, it can converge with human expertise to shape the next generation of advisory services, enabling financial advisers and institutions to deliver technology-driven and client-centric wealth management solutions.

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The solution aims to address gaps in the bond market, where analysis has traditionally been confined to high-level ratings from major agencies with limited coverage and insufficient insights for precise portfolio decisions. BondWise would change this by providing in-depth analysis at the individual bond level for every investor, from retail to institutional.

Dor Eligula, Co-Founder and Chief Business Officer of BridgeWise, shared,

“Our focus has always been to make complex financial data accessible and meaningful. With BondWise, we’re extending that approach to fixed income, bringing transparency and understanding to a market that has often felt unclear for many investors.”

BondWise reports would include textual explanations with comparative rankings across a variety of key parameters, which would make complex bond evaluation easy to understand.

Its users may also compare bonds across a given sector as well as the different bond types offered within a single company to find the right combination of low-risk, high-yield opportunities that balance safety and performance.

BondWise is powered by BridgeWise’s proprietary AI for investments, enabling expansive coverage across thousands of bonds, where data would otherwise be scattered or inaccessible.

Kelvin Phua, General Manager, Asia Pacific at BridgeWise, added on about the significance of BondWise in Hong Kong,

“In a market like Hong Kong, where bonds are increasingly part of the investment conversation, our AI-driven insights help institutions support both sophisticated clients and newcomers with the clarity they need to make informed decisions.”

BridgeWise provides investment intelligence to over 50 institutional clients and 25 million end users across more than 15 languages.

Aside from offices in Japan, Singapore, the US, London, Brazil, Thailand, Israel, and Dubai, BridgeWise also partners with global institutions, including Japan Exchange Group, SIX Swiss Exchange, B3, eToro, TASE, and Rakuten Securities.

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The iWAA, launched in 2012, is an annual event that recognises wealth advisory companies and individual advisers. These comprise those who have excelled in delivering exceptional client service, driving sustainable business growth, and embracing innovation to meet the evolving needs of investors.

The iFAST Wealth Advisers Awards 2025 coincides with iFAST’s 25th anniversary, a milestone reflecting the company’s journey. Beyond that, it also showcases the trusted partnerships it has built with advisers and institutional partners over the years.

Glory Lau, General Manager, Platform Services for iFAST Financial HK, shared,

“This year’s iWAA is particularly meaningful as it aligns with iFAST’s 25th anniversary. It is not only a celebration of success, but also a testament to the enduring partnerships that have shaped our journey.”

Glory continued, saying that iFAST is proud to honour advisers and companies who exemplify excellence, innovation, and commitment to clients, and looks forward to walking alongside them into the future of wealth management.

Beyond an awards ceremony, iWAA 2025 underscores the importance of collaboration and partnership in driving innovation, fostering growth, and shaping the next chapter of the wealth management industry.

Corporate Awards

Individual Awards

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These portfolios provide higher liquidity than traditional funds and give professional investors access to institutional class private market investments from Hamilton Lane, a global private markets specialist managing more than US$956 billion (HK$7.47 trillion) in assets.

Currently, more than 87% of companies generating over US$100 million (HK$781 million) in revenue are privately held, a trend expected to continue as private markets are projected to triple in size over the next decade.

As more companies remain private, high net worth individuals are increasingly looking to private markets as part of long term wealth building.

Private infrastructure and private credit, with target returns of 10% to 12% per annum at the asset class level, are receiving growing attention.

Stephanie Leung, Chief Investment Officer at StashAway, said:

“While public markets continue to face uncertainty, the private market sector is thriving as investors in Hong Kong seek better returns, even in turbulent times. High net worth individuals are desiring greater access to these opportunities but with added diversification, lower volatility, and higher returns. While traditional private market funds require high minimums and long lock ups, our new semi liquid portfolios break down these barriers with lower minimums, cost effective fees, and monthly liquidity.”

Unlike traditional private market funds that typically involve lock up periods of 10 to 15 years, StashAway’s new portfolios provide monthly liquidity after a short initial lock up period.

They also offer significantly lower minimums and fees compared to banks.

While private banks may charge up to 3.5% in total management fees, StashAway clients pay only the fund level fee and a 0.5% StashAway fee.

Private equity and private infrastructure can strengthen long term portfolios by providing diversification away from public markets.

Both asset classes have historically outperformed public equities while showing lower volatility.

For example, adding a 10% private infrastructure allocation to a traditional 60/40 portfolio between 2014 and 2024 would have increased returns by 5.3% and reduced volatility by 10.6%.

The Private Infrastructure portfolio offers exposure across sectors including energy, transport, digital networks, and utilities.

The Private Equity portfolio is diversified across different life stages, geographies, and vintages.

This launch follows StashAway’s introduction of Private Credit in Hong Kong last year, broadening the platform’s range of private market solutions for professional investors.

These investors can also access personalised wealth advisory services through StashAway Reserve, the firm’s dedicated offering for high net worth clients.

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The logic is clear: rather than managing each client’s portfolio individually, a model-based approach ensures investment consistency and scalability.

This shift is particularly pronounced in markets with maturing advisory ecosystems. More firms in these markets are embracing the “one portfolio, many clients” framework, offering portfolios that align with varying risk levels, such as conservative, balanced, or aggressive.

However, this evolution also poses a new set of challenges. In real-life scenarios, advisers face considerable execution and monitoring burdens, especially when managing across hundreds of clients.

One common pain point involves client timing and currency differences. For example, even if two clients are in the same “balanced” model, their buy-in dates, currencies, or fund access may differ, leading to portfolio drift over time.

Next, maintaining alignment with a model portfolio requires regular rebalancing. Without the right tools in place, advisers must manually monitor deviations and submit transaction orders, often one by one, which can cause rebalancing complexities.

Finally, in fast-moving markets, identifying which clients hold a specific product and executing effectively across all relevant accounts is time-consuming, which may lead to missed opportunities and affect market responsiveness.

Many advisers, therefore, end up spending more time on administrative tasks rather than actual portfolio strategy or client management.

Tools That Empower Financial Advisers as Portfolio Managers

To address these bottlenecks, forward-thinking platforms are introducing tools that allow advisers to operate more like portfolio managers, handling rebalancing, mass transactions, and model tracking.

• One-click subscription: Clients can buy into the set model at any time, in any currency, and with any investment amount, without manual calculation.
• Rebalancing functions: Automatically calculating and generating the necessary trades to bring a portfolio back in line with its target weights.
• Mass transaction capabilities: In volatile markets, advisers can quickly identify clients holding a specific product and execute a single buy/sell action across all accounts, ensuring no one is missed and execution stays consistent.

These tools go beyond saving time and help ensure fairness, consistency, and efficiency in portfolio execution. They become increasingly essential as advisers manage larger client books with more complex mandates.

Glory Lau, General Manager of Platform Services (HK) at iFAST, shared that in this digital age, financial advisers expect more than just a transaction portal. They require a platform that truly understands their pain points, especially when it comes to managing multiple portfolios efficiently, such as the iFAST discretionary portfolio management tools.

Glory added,

“Our goal is to reduce duplicated work, streamline execution and support FAs as true portfolio managers. With iFAST handling the operational heavy lifting, advisers can focus on what they do best, which is providing advice and navigating the markets.”

As discretionary portfolios grow in Asia, advisers must rethink managing portfolios at
scale. The focus is moving from adopting model portfolios to managing them without operational drag.

Digital tools for rebalancing, mass transactions, and portfolio tracking are essential for staying competitive amid rising client expectations, compliance, and market volatility.

With over 25 years’ experience serving 14,000+ financial advisers, iFAST understands these challenges. Its new iFAST discretionary portfolio management tools help advisers scale efficiently, streamline execution, and focus on delivering great advice.

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Yue said major private banks saw a 14% rise in assets under management (AUM) in the first half of the year, compared to the end of December, and hired over 400 wealth management professionals in the past two years, a 12% increase, South China Morning Post reported.

Yue did not name the banks involved.

Both HSBC and Standard Chartered reported strong performances in their wealth management businesses during the first half of the year, according to their interim results released last week.

Transactions conducted by the city’s 46 private banks reached HK$4.47 trillion (US$569.4 billion) in 2023, marking a 50% increase from HK$2.97 trillion the previous year.

Yue noted that some banks have expanded their office space by as much as 50% in recent years.

“Recently, a number of international banks and asset management firms have announced plans to further enlarge their operations in the city, with headcount growth projected to range from 10% to 100% in the next few years,”

Yue said.

“These developments show the strong confidence international financial institutions place in Hong Kong’s asset and wealth management market and highlight the strategic importance they attach to its long-term growth potential.”

Alongside HSBC and Standard Chartered, UBS, Julius Baer and DBS Hong Kong have also unveiled plans to expand their presence to tap into growing client demand.

According to the Securities and Futures Commission (SFC), total AUM by the 46 private banks increased by 15% last year to HK$10.4 trillion.

When including assets managed by investment firms, brokers, and insurers, overall AUM in Hong Kong rose 13% in 2023 to HK$35.14 trillion, close to the 2021 record of HK$35.55 trillion.

Yue said Hong Kong attracted HK$384 billion in net inflows last year as high-net-worth individuals turned to the city to manage their wealth, supported by the stock market rebound, the enhanced Wealth Management Connect scheme, the Capital Investment Entrant Scheme (CIES), and new measures to attract family offices.

The CIES, also known as the investment migration scheme, has attracted around HK$16.5 billion from 543 applicants in the 14 months up to April.

Government data indicates that two-thirds of the capital was invested in mutual funds and equities.

Authorities expanded the Wealth Management Connect scheme in February 2024, tripling the annual individual investment quota to 3 million yuan (US$416,640), adding more fund options, and easing sales restrictions.

The enhanced framework, dubbed Wealth Connect 2.0, has more than doubled participation to over 160,000 investors as of June.

Mainland investors have tripled their investments in Hong Kong fund products via the scheme to 16 billion yuan.

“As southbound scheme investors become more familiar with Hong Kong products and put more emphasis on diversification, their focus has shifted from deposits to a broader allocation towards funds and bond products,”

Yue said.

He added that Hong Kong banks had benefited from the region’s growing wealth.

The number of individuals in Asia with more than US$10 million rose 5% last year to 850,000, including about 470,000 from mainland China.

“The continued growth of wealth in China and the wider Asia region is expected to provide ongoing momentum for Hong Kong’s wealth management industry,”

Yue said.

“Importantly, as a superconnector linking mainland China with the international markets, Hong Kong plays a vital role in facilitating cross-boundary asset allocation and capital flows.”

Yue also pointed to geopolitical uncertainties prompting international investors to diversify more proactively, with yuan-denominated assets gaining greater prominence in portfolios.

Between April and July, Asia attracted US$91.5 billion in net inflows from investment funds, with US$44.3 billion flowing into Hong Kong and mainland China, according to data from EPFR.

The Hang Seng Index has surged over 20% so far this year, making it one of the best-performing major stock indices globally.

Hong Kong has also reclaimed the top spot in global initial public offerings.

Digital assets are playing a growing role as well. Local banks traded HK$26.1 billion in digital and tokenised assets in the first half of 2025, a 233% year-on-year increase.

“Hong Kong is forecast to become the world’s largest wealth management centre in the coming years,”

Yue said, noting that the HKMA will work with the government and industry stakeholders to realise this ambition.

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The new platform will enable users to conduct investment research and trade a range of products, including stocks, funds, and alternative assets, Mary Huen Wai-yi, CEO for Hong Kong, Greater China, and North Asia, said.

“Traditionally, many wealthy customers like to talk to bankers or relationship managers about their investments. But the new generation of investors may prefer to trade on a digital platform by themselves,”

Huen said.

“This is why we believe a new digital platform would help us attract a new group of mass and premium clients who have the potential to become our private banking clients in future.”

The launch forms part of the bank’s broader US$1.5 billion investment in its global wealth management business over the next five years, with Hong Kong set to be a major focus, group CEO Bill Winters told the Post earlier this year, according to South China Morning Post.

In line with this strategy, the bank will open its sixth wealth management centre in Hong Kong this year.

It previously established two such centres in Taiwan and three on the mainland, which have proven effective in drawing affluent clients and building long-term relationships, Huen noted.

Wealth management continues to be a key growth driver for Standard Chartered globally.

The bank reported a 41% rise in net profit to US$3.07 billion for the first half of the year.

Hong Kong remains its largest and most profitable market, with underlying pre-tax profit surging 39% to a record US$1.45 billion, accounting for 30% of the group total.

This growth was underpinned by an 8% increase in affluent clients holding more than HK$200,000 (US$25,477) in deposits, alongside a 35% rise in net new money from this segment, according to Huen.

She acknowledged that the anticipated US interest rate cut in the second half of the year, coupled with low interbank rates in Hong Kong, where the one-month Hibor remains below 1%, could pressure interest income.

However, she added,

“Increased fee income in the second half would be able to offset the impact of the low interest rate.”

Market sentiment has improved, with the Hang Seng Index rising over 20% so far this year, following an 18% gain in 2024.

This rebound has encouraged greater investor activity.

“The improved sentiment also helps corporate clients feel more comfortable borrowing money to expand. I believe we can see single-digit growth in loans this year,”

Huen said.

The bank’s Hong Kong unit saw credit impairment charges rise 79% to US$168 million, including US$58 million linked to commercial real estate.

However, Huen downplayed concerns, noting that the bank’s exposure to commercial property stood at just US$2.1 billion, about 2% of its US$86.6 billion loan book in the city.

“I do not think we need to worry as our exposure to commercial real estate is low, while most lending is very healthy,”

she said.

Standard Chartered also intends to deepen its support for Hong Kong-based corporates looking to expand overseas and engage in cross-border trade.

Bankers will lead client visits to Southeast Asia and the Middle East in the coming months to scout for new opportunities.

“Amid the threat of [high US tariffs], we have seen many Hong Kong customers wanting to set up product plants in other Asian cities or to sell products in these markets,”

Huen said.

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Cathay United Bank has become the first financial institution to establish private banking operations under this initiative, working in partnership with its longstanding technology provider, Avaloq.

Cathay United Bank, headquartered in Taipei, is one of Taiwan’s leading financial institutions with a well-established wealth management business.

The bank partnered with Avaloq in 2020 following regulatory liberalisation, adopting the Avaloq platform to support the development of both onshore and offshore private banking services.

The platform’s core banking capabilities have been used to enhance operational efficiency and improve client service.

The Financial Supervisory Commission (FSC) has introduced the Kaohsiung-based Asset Management Hub to further develop the onshore wealth management and private banking industry.

The initiative seeks to strengthen domestic expertise and provides a framework for financial institutions to offer a broad range of services.

These include active and passive multi-asset ETFs, consultancy for family offices, and high-value insurance products.

Cathay United Bank is taking a leading role in the new hub by establishing a booking centre and operational base in Kaohsiung.

The bank will deliver private banking services tailored to high-net-worth individuals across Taiwan, with Avaloq providing technology and operational support.

Avaloq, a provider of wealth management technology and services, will offer end-to-end support for the bank’s private banking operations in Kaohsiung.

This includes enhancing operational efficiency across front, middle, and back office functions, with a focus on automation, straight-through processing, and data consistency.

The Avaloq platform will also support portfolio management, client relationship management, and client lifecycle management, and integrate with Cathay United Bank’s existing systems.

Robert Fuh, Chief Executive Officer of Private Banking at Cathay United Bank, stated:

“We are proud to be the first bank to establish onshore private banking operations in the new Kaohsiung Asset Management Hub, demonstrating our leadership in the Taiwanese financial sector and to serving the needs of Taiwanese investors. We thank the Financial Supervisory Commission (FSC) for this forward-looking initiative, which will help drive growth in Taiwan’s financial sector and deliver greater value for investors.”

Eliza Chang, Regional Director for North Asia at Avaloq, commented:

“We have a strong track record in enabling and developing Cathay United Bank’s wealth management operations both onshore and offshore, and this marks an exciting new chapter in our partnership. Our community of clients can depend on our industry expertise, leading platform and understanding of local regulations to support their growth and help them respond quickly to evolving market demands.”

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According to a new report by Quinlan and Associates, and Allfunds Asia, a staggering 93% of Hong Kong investors have accessed digital wealth services in the past two years. This surpasses Singapore’s figure of eight percentage points, which stands at 85%.

Further illustrating this trend, 74% of Hong Kong investors reported using robo-advisors, 15 points higher than Singapore. Additionally, 52% said they are comfortable receiving guidance from artificial intelligence (AI), compared to just 27% in Singapore, representing a gap of 25 points.

Hong Kong investors also showcase greater engagement with digital channels, especially self-service via the Internet, mobile apps, and online chats with wealth managers and advisors. These investors increasingly favor digital-first interactions, unlike their Singaporean counterparts who still place more value on face-to-face meetings.

The rise of neobrokers in digital wealth

While Singapore has incubated regionally recognized pure wealthtech players like Endowus and StashAway, Hong Kong is experiencing a surge in independent neobrokers expanding into digital wealth management and rapidly capturing market share.

One standout example is Futu, a leading neobroker, which has expanded into wealth management. The company, which leverages its advanced backend digital capabilities, initially targeted high net-worth individuals with at least HK$5 million worth of assets under management (AUM) before introducing a robo-advisory service to cater to the mass retail segment.

As of 2024, Futu had 600,000 wealth management clients, up 44.2% year-over-year (YoY), while AUM totaled US$12 billion, representing a 71.4% YoY increase. The company serves a total of 25 million customers globally.

Hong Kong’s independent wealthtech pioneers

In parallel with the rise of neobrokers, Hong Kong is also nurturing a new generation of wealthtech startups and digital advisory platforms.

One notable example is Kristal.ai, a digital private wealth platform founded in 2016 in Hong Kong. The company uses a proprietary advisory algorithm to build personalized portfolios, branded as “Kristals”, tailored to users’ financial goals and risk preferences. Licensed in Hong Kong, Singapore, and India, Kristal.ai claims over 50,000 users across geographies, and more than US$1.5 billion in AUM and advisory assets.

Another prominent player is Aqumon. Founded in 2016, Aqumon is a digital wealth management firm that provides robo-advisory and wealth management services. Through its proprietary algorithms and scalable, technical infrastructure, Aqumon’s automated platform empowers anyone to invest and maximize their returns.

Aqumon also provides fintech solutions to institutions, and has partnered with over 100 financial institutions, including AIA, China Resources Bank, BOCI and CMB Wing Lung Bank, since its launch.

Digital banks enter wealthtech

Hong Kong’s virtual banks have also entered the digital wealth sector, offering digital offerings that prioritize efficiency, transparency, and accessibility.

In 2022, WeLab Bank, one of Hong Kong’s eight virtual banks, launched its GoWealth Digital Wealth Advisory solution, offering algorithm-driven advice for investing in mutual funds like money market,

equity, and bond funds. The solution enables users to set goals, build personalized portfolios, and rebalance without lock-up periods or hidden fees.

WeLab Bank reported strong traction for GoWealth Digital Wealth Advisory, citing it as a key driver of the bank’s growth. By December 2024, the bank achieved breakeven and noted a fourfold YoY increase in AUM from its wealth management services.

WeLab operates across Hong Kong, Mainland China, and Indonesia, serving nearly 70 million individual users and over 700 enterprise clients.

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“In today’s dynamic market environment, businesses are actively seeking ways to make their capital work harder. Airwallex Yield gives them a seamless and flexible way to earn returns on their balances, all from within the Airwallex platform.”

With Yield integrated into the Airwallex platform, businesses can manage working capital and surplus funds in one place.

This strengthens Airwallex’s end-to-end business account value proposition,  from payments and treasury to investment, enabling companies to operate efficiently while earning returns on idle funds.

Airwallex Yield is a low-risk, discretionary portfolio management service that aims to generate returns through exposure to highly rated money market instruments. In Hong Kong, Airwallex has initially partnered with J.P. Morgan Asset Management.

Kheng Leong Cheah, Head of Global Liquidity Sales, Asia Pacific, J.P. Morgan Asset Management, said,

“We have been supporting Airwallex in Australia since 2023 and we are delighted to expand that to Hong Kong. This will extend our multi-currency liquidity management capability to Airwallex’s innovative platform, enhancing their financial capabilities.”

Key benefits of Airwallex Yield include the opportunity to generate returns from money market instruments, the ability to earn on multiple currencies, and no lock-up periods.

Airwallex Yield was initially launched in beta for select Hong Kong businesses, allowing the company to refine its user experience ahead of a wider release. It accumulated over US$85 million in funds under management as of 17 June 2025.

With the full rollout now live, all eligible businesses can access Airwallex Yield in Hong Kong.

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