Winners rationale

Even as the demand for discretionary portfolio management increases in Asia, there can be little debate that advisory will remain a priority service o ering for private banks in a region where a large percentage of HNWIs are still in wealth creation mode. For this reason, Asian Private Banker introduced in 2017 the award for advisory services, attracting submissions from a diverse range of wealth managers across APAC and the Middle East.

Amidst sti competition, BNP Paribas Wealth Management emerged as the inaugural winner of this coveted award, successfully demonstrating to the Judging Panel its ability to leverage its global investment platform to deliver leading advisory services to Asia’s wealthy.

Indeed, as a global institution in the truest sense, BNP Paribas boasts one of the most comprehensive product platforms in the region, covering the full spectrum of conventional asset classes and products – including equities, fixed income, FX, structured products and funds. Furthermore, BNP Paribas’ global real estate o ering deserves special mention: encompassing a broad universe of opportunities, including direct access to residential property and rural land in Europe, this alone stands as a key differentiator in the Asia space where U/HNWIs have a penchant for brick and mortar assets.

Clients in 2017 certainly appreciated the sheer strength of this product offering, with the private bank posting stellar gures for total trades, average ticket size and overall volumes, including a record year for fund in ows. But this is only part of the story. Not simply drawn to the platform for pure execution and attractive pricing, BNP Paribas Wealth Management’s clients have shown that they value – and follow – the private bank’s advice.

Speci cally, two-thirds of BNP Paribas Wealth Management’s entire Asia client base followed its recommendations in 2017, with a high double-digit percentage of clients trading consistently in line with its recommendations, excluding spot FX trades.

Of course, performance alone is not enough to retain clients – a point not lost on BNP Paribas Wealth Management. Its rigorous after sales support and processes are top-tier, with the private bank boosting its investment counsellor coverage of clients by 53% with minimal added headcount costs and o ering a myriad of digital touch points to provide clients with quick and simple access to trading execution, live portfolio reviews, customised advice and market insights.

BNP Paribas has set the bar high in terms of what it means to be a best-in-class provider of advisory to Asia’s demanding HNWIs, deservedly earning itself the title of Best Private Bank – Advisory Services for 2017.