[grandcider]

I have a sum of money (about HK$1M) I'm looking to invest with low/moderate risk. Does anyone have an opinion of the regular financial advisors at HSBC, Manulife and other mainstream institutions? What sort of funds/instruments should I be considering?

[freeier]

i doubt they know much other than peddle products

[phooey]

Yeah I went to HSBC for finanical advice and all they did was try and sell me life insurance. In the end I didn't use any of their services becuase they were so pushy on the life insurance thing I didn't feel that I could trust them.

[chris_in_hk]

Grandcider,

Without knowing anything about you or your situation I can only give general investment advice:

1) Learn how to invest it yourself. It would probably be your best investment.
2) I don't really rate any of the above mainstream institutions, their purpose is to sell you stuff. However, it wouldn't hurt to visit them and see how they recommend investing your money for you, if you gave it to them.
3) You should be going for a diversified approach of stocks, mutual funds, bonds (depending on your age) and/or property and definitely not a life insurance plan.
4) Check my other finance/investment related posts for more information (but market circumstances have moved since then).

It really depends on your age, how much you've already got, what investments (if any) you already have, your risk profile, needs, etc.

[Kat123]

When you are at HSBC, ask for a Customer Service Manager. He/She will have more authority on the types of products to sell. I am not working for HSBC but I bank with them, and there are many short or medium term products.

[beafan]

my friend just started selling these financial plans for HSBC and he was talking about a savings/disability insurance and mutual funds portfolio. am seriously thinking about it, but i dont think hsbc has the best funds performance right? and about insurance... is it that necessary? right now my risk level is LOW.
any advise? pretty please? thanks!

[chris_in_hk]

Beafan,

Savings and insurance plans are generally best kept separate and it's generally not the best idea to get one plan that does both. In general you're paying more than you have to for the savings element and it'll underperform against pure savings plans.

As for whether you need insurance or not, that depends a lot on your personal circumstances. Also, check what your work insurance covers you for.

HSBC has a range of funds, e.g. Lyxor and others, and not just HSBC funds.

Whether you should get a HSBC mutual fund portfolio depends on the charges and flexibility. You might be better off elsewhere. It also depends if you've doing a lump sum investment or willing to put aside a set amount each month for a number of years. Usually with savings plans they'll allow you free switching between any funds they hold. I don't think HSBC mutual funds will do that.

Oh, one thing. When you say your friend sells these financial plans for HSBC does that mean he/she works in the branch?

[freeier]

frankly, in a risk reward scenario, i'd rather avoid lyxor stuffs. 8-P

[chris_in_hk]

Lyxor was the only one I could remember. Not actually sure it's one of theirs, but it was an example. Perhaps not a good example

[maddogmerrick]

Can anyone tell me if the MPF is a good place for making additional monthly contributions for retirement? I have been told that there is no income tax benefit for making addition contributions, is this correct?

My colleagues were horrified when I asked my company to deduct HK$1,000 from my wages every month to contribute towards my MPF. Is it such a bad idea or would you be better off investing money into other funds outside the MPF?