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HSBC Review

as of 14/01/2020 at 8:49 am

Holly's View

If you bank with HSBC and you want to invest and don’t know where to start, this is a very thorough online advice journey which will see you into the right product for you. This is digital advice and there are no choices – just a long questionnaire and then a ready-made investment at the end.

Our Rating

Recommended For

Beginner Investor

In a nutshell

Big global brand

For HSBC customers only

Thorough online questionnaire

You Say

Your overall rating

Based on 2 reviews

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What to Expect

Investment Choice

Products

Stocks and Shares ISA

Investment Account

Investments available

Own brand funds

Funds from other groups

Stocks and shares

Investment help

Robo advice / ready-made portfolios

Pick your own funds

Pick your own shares

The 'Geeky' Details

Provider details

Effectively this is a detailed analysis into what you can afford, your income, disposable cash, what risk you can stomach and whether you should be investing at all. The questionnaire can start to feel like it is going on forever but it’s thorough and should eliminate nasty surprises down the track.

Investors will end up with £ forecasts for poor conditions, intermediate conditions and good conditions based on what you’re paying in. The actual investments will be in the HSBC Global Strategy range – a ‘multi asset’ fund which has a range of global investments.

Charges are 0.5% for the advice (based on the initial lump sum plus 12 x the first monthly amount); an account fee of 0.25% a year and circa 0.19% fund fee a year. For our test scenario of £10,000, the all-in annual fees were £94 for the first year.

This review is for the Digital Advice journey called HSBC My Investment . We think this is the most interesting service – if you’re after a fund or share dealing account where you choose your own, there are better alternatives.

Important Facts & Figures

Provider Size:

Medium sized platform, we estimate to administer over £7bn in funds.

Minimum amounts: £50 minimum monthly amount
£1,000 minimum initial amount
12 month indicative performance:

HSBC Global Strategy Dynamic Portfolio (a higher risk option) has returned 65% over 5 years.

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