Emerging Markets

Almost Two-Thirds Of Asians Save More With Financial Advice - Survey

Chrissy Coleman Asia Correspondent 26 February 2013

Almost Two-Thirds Of Asians Save More With Financial Advice - Survey

Asia may be a famously "hands-on" region in terms of how HNW individuals run their money, but data shows that people in the region who take advice saw their savings behaviour rise as a result.

While many wealth managers will tell you Asians are notoriously hands-on when it comes to managing their wealth, a recent global study by HSBC found that more than 60 per cent of Asian respondents who have taken professional financial advice saved more as a result.

The Future Of Retirement 2013 study surveyed more than 15,000 people in 15 markets worldwide, including: Australia; China; Hong Kong; India; Malaysia; Singapore; and Taiwan, aiming to identify people’s retirement needs and the preparations they are making.

While the research did not focus on high net worth individuals, a HSBC spokesperson told this publication: “Quotas were set to ensure that at least a certain number of mass and emerging affluent respondents per country were surveyed."

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