HSBC Partners with Marstone for Digital Client Engagement, Broadening Its Audience and Easing Access to Wealth Management
October 17 2018 - 9:00AM
Business Wire
HSBC Wealth Track™, a new Robo Advisor
solution, is the first service to emerge from the partnership
HSBC Bank USA, part of HSBC Group,
one of the world’s largest banking and financial services
organizations, and Marstone, Inc., a leading digital wealth
management platform, today announced a partnership to develop HSBC
Wealth Track™, a software based investment advice platform that
enables clients to instantly create a diversified portfolio at a
low cost for both retirement and non-retirement accounts. The
partnership begins piloting later this month and is fully
integrated with HSBC’s custodian, Pershing, a Bank of New
York-Mellon Company. In addition to allowing HSBC to reach new
client segments outside its usual branch footprint, HSBC Wealth
Track™ will enable the Bank to meet rising demand for digital
banking solutions.
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“Digital advice and financial planning are important to better
managing client accounts of all sizes,” said Michael Boardman,
Executive Vice President, US Head of Wealth Management for HSBC’s
Retail Banking and Wealth Management business. “Our primary
ambition is to serve clients in continuously better, faster ways on
terms that they can dictate. HSBC Wealth Track™ positions HSBC as a
multi-channel provider of investment solutions by adding this
digital platform to our world-class Wealth Management service
offering. We are thrilled with the current opportunity that this
strategic partnership provides to our business.”
Marstone is an early pioneer in the Wealth Management digital
advice space and winner of the 2017 WealthManagement.com Industry
Award for Digital Advice and HSBC was recently named the Most
Innovative Investment Bank of the Year by The Banker magazine.
“Marstone was created to address what we believe are the three
major challenges facing our industry: lack of financial literacy
and tools that humanized finance for the retail investor,
antiquated systems that hindered client engagement and advisor
productivity, and lack of automated solutions to drive operational
efficiencies,” said Margaret Hartigan, CEO and Founder, Marstone.
“Marstone’s flexible solution allows HSBC to fully customize the
platform, from implementing their own branding down to defining the
investment offering, to make it truly their own. Our technology is
not only a tool for digital transformation, in the case of this
partnership, but also ensures HSBC’s ability to continue delivering
high quality solutions and services as their client base
grows.”
Note to editors
HSBC Bank USA, National Association (HSBC Bank USA, N.A.)
serves customers through retail banking and wealth management,
commercial banking, private banking, and global banking and markets
segments. It operates bank branches in: California; Connecticut;
Delaware; Washington, D.C.; Florida; Maryland; New Jersey; New
York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A.
is the principal subsidiary of HSBC USA Inc., a wholly-owned
subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A.
is a Member of FDIC. Investment and brokerage services are provided
through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and
insurance products are provided through HSBC Insurance Agency (USA)
Inc.
HSBC Holdings plc, HSBC Holdings plc, the parent company
of the HSBC Group, is headquartered in London. The Group serves
customers worldwide from around 3,800 offices in 66 countries and
territories in Europe, Asia, North and Latin America, and the
Middle East and North Africa. With assets of US$2,607bn at 30 June
2018, HSBC is one of the world’s largest banking and financial
services organisations.
Marstone, Inc. is a leading digital wealth management
platform with a mission to enhance financial literacy, deepen
financial inclusion, and humanize finance for all. Its
enterprise-ready solution, Powered by Marstone™, enables financial
institutions to efficiently and affordably reach, acquire, and
retain clients who seek straightforward information and engagement
around their finances. As a proven and trusted technology partner,
Marstone has comprehensive integrations with custodians including
Pershing, core banking platforms including Fiserv, account
aggregation platforms, and investment managers, offering
organizations the opportunity to deploy a technology that will help
future-proof their businesses as consumer expectations for digital
wealth management evolve. To learn more about Marstone’s offering,
please visit www.marstone.com or contact us at
info@marstone.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181017005081/en/
Media:Matt Klein,
+1-212-525-4644matt.klein@us.hsbc.comorCarolyn Hamm,
+1-212-525-0720carolyn.hamm@us.hsbc.comorKate Gundry,
+1-617-797-5174marstone@pluckpr.com
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