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HSBC Partners with Marstone for Digital Client Engagement, Broadening Its Audience and Easing Access to Wealth Management

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 [email protected].

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