Also were these so call professionals the same ones telling them to buy high fee annuities and long term universal life insurance policies with "guaranteed" payments?
The biggest problem is the concentration of half investment into HSBC. that is grossly mismanagement.
A comparison of the largest companies listed on a stock exchange over even as little as 20 years shows just how few companies fall into the buy and hold forever camp.
If you want a steady income from HSBC, buy its bonds not its shares.
There is a reason they call the asset class 'fixed income'.
HSBC's pre-tax profit falls 48% year-over-year in the first quarter to $3.2 billion - https://www.cnbc.com/2020/04/28/hsbc...-pandemic.html
Europe’s largest bank, said on Tuesday that it’s pre-tax profit fell 48% year-over-year to $3.229 billion in the first quarter of 2020, while revenue dropped by 5% to $13.686 billion.