The Hindu Business Line : HSBC financial service for rich customers

HSBC has launched a new service for its high net worth customers to achieve their financial goals. The Financial Planning Service (FPS) is aimed at helping customers execute long-term savings and investment plans.

The Chief Executive Officer, Mr Z. Cama, said, "Through the help of HSBC's qualified financial planning staff, customers using FPS can develop a realistic and practical financial plan by utilising a range of financial services including mutual funds, bonds and insurance.''

He told presspersons here that the FPS would initially be offered to the HSBC Premier customer where the minimum threshold limit is around 25 lakh, and will later be extended to PowerVantage customers, where the limit is Rs 1 lakh. For private clients, the limit is Rs 1.5 crore.

The threshold limit was the customer's relationship with the bank and could be either in the form of deposits or advances, bank officials said. The newly set up AMC plans to start rolling out products by April.

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