Jersey-based HSBC Bank International has launched HSBC International Financial Advisers (UK) Limited, to provide a specialist advice for int...

Jersey-based HSBC Bank International has launched HSBC International Financial Advisers (UK) Limited, to provide a specialist advice for international investors based in the UK. The new unit will be based in London and will consist of an experienced team of financial advisors who will provide international investment advice for customers in the UK with cross-border financial assets. It will also provide a compliant vehicle to provide offshore investment advice to UK-based customers of HSBC Bank International. Alan Smith, head of independent wealth management at HSBC Bank International told WealthBriefing that the purpose of establishing the new unit was to bring global expertise to London. “Our offering depends upon three factors: the global network; the HSBC brand; and our adherence to best of breed open architecture products backed up by Jersey due diligence,” he said. “The negotiating power of HSBC in the market place is such that we can have products, including structured products, built to our specifications by third party providers," he said. HSBC Bank International presently has 31 staff and is looking to recruit across the board to enhance its mix of experience and language skills as its market is rapidly increasing. According to Mr Smith, around one third of the UK population are currently considering moving abroad. And the market is not limited to UK expats either. Pensions and retirement planning are a very important part of the international bank’s work. Protection of assets is critical during the later stages in life, but as Mr Smith pointed out to WealthBriefing the very nature of international travel and work is that some people will “fall through the cracks” of retirement planning and these need special attention. Mr Smith estimated that the typical customer in London has around £150,000 ($260,000) with the international bank.