Nearly three-quarters of Hong Kong millennials expect their wealth managers to use artificial intelligence (AI) tools to build and adjust investment portfolios, according to a recent study by EY. This contrasts sharply with the baby boomer generation, where only 43 percent share the same confidence in AI, highlighting a significant generational gap in wealth management preferences.
The 2025 Global Wealth Research Report, which surveyed over 3,600 respondents across 30 markets late last year, found that younger clients in Hong Kong—those aged between 25 and 41—prefer AI-powered advisory tools, personalized digital experiences, and show greater openness to digital assets. Meanwhile, baby boomers tend to favor traditional advisory models. Patricia Tay, EY’s Asia-Pacific banking and capital markets sector leader, noted that some clients even trust robo-advisers more than human advisers in certain situations.
Hong Kong investors also displayed more volatility in loyalty toward their wealth managers compared to global averages. About 35 percent of local respondents indicated they were likely to switch their primary wealth-management provider within the next three years, higher than the global average of 29 percent but in line with the Asia-Pacific average of 36 percent.
The report highlighted a potential break in adviser continuity, with only 23 percent of respondents planning to use the same financial adviser as the one who manages their inheritance. This reflects a shift in values among younger generations regarding wealth management.
Among ultra-high-net-worth clients in Hong Kong, brand and reputation emerged as the most important factors when choosing wealth-management providers, with 50 percent citing this—a notable 18 percent increase from 2023.
Concerns over intergenerational wealth transfer are pronounced in Hong Kong, where 61 percent of respondents feel underprepared for passing wealth between generations. This is considerably higher than the global average of 46 percent.
Hong Kong’s prominence as a global wealth-management hub continues to strengthen. It is projected to surpass Switzerland to become the world’s largest wealth-management centre by 2027 or 2028, according to HSBC chairman Mark Tucker. Currently, the city manages approximately US$4 trillion in assets, with about two-thirds of these assets originating from outside Hong Kong, as noted by Financial Secretary Paul Chan Mo-po.
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