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Cannot buy ETFs except high net worth individuals

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  1. #11
    Quote Originally Posted by shri:


    am a bit surprised you were able to open and fund and get an rm so quickly... do you really have an account there and have you done all the risk profiling, kyc etc that i asked you about.

    I don't know why you are so aggressive with me. I am new here. I don't know you. I am not trying to sell anything. All I did was just ask a simple question to verify the info the RM told me.

  2. #12

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    Hkemail888 likes this.

  3. #13

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    To be clear .. this is what you need.

    https://www.ipb.citibank.com.sg/en/w...ank-brokerage/


  4. #14

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    Quote Originally Posted by watashihk:
    I don't know why you are so aggressive with me. I am new here. I don't know you. I am not trying to sell anything. All I did was just ask a simple question to verify the info the RM told me.
    not being aggressive .. just asking if you have done your own due diligence and have the right accounts opened and funded.

  5. #15

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    Quote Originally Posted by watashihk:
    My bank broker just told me that I would not be allowed to invest in ETFs unless I am registered as a HKPI (Professional investor), i.e. with 8 million HKD (excluding properties). He said that this is a HK govt requirement. Is this correct?

    If there is such a high entry barrier to ETFs, why is ETFs such a hot topic? How does everybody invest in ETFs then?
    To me it sounds like that the RM is trying to dissuade you from buying ETFs and forcing you to buy expensive mutual funds where the bank makes a lot of margin. They know that if you buy ETFs they won't make any money.

  6. #16

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    Off topic: do individual professional investors in HK need to register?


  7. #17

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    John_1122 seemed like he wouldn’t have had trouble meeting the asset requirement and his level of knowledge seemed at least slightly higher, even if his questions sometimes seemed puzzlingly quixotic/repetitive.

    OP, no point asking us specific questions if your RM is giving you the runaround then you need to find another bank/banker. Maybe there’s some technical reason like it’s an offshore account and the products they can offer you must meet a certain threshold (I don’t know the business/rules) or as posters are suggesting, low-fee ETFs don’t bring the bankers fees so they are throwing up roadblocks. In either case, seems your banker is being unhelpful, so if you have to talk to us rather than your banker, you should be considering changing him/her.
    .

    Last edited by shri; 07-09-2021 at 05:09 PM. Reason: :)

  8. #18

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    Quote Originally Posted by Windmill65:
    To me it sounds like that the RM is trying to dissuade you from buying ETFs and forcing you to buy expensive mutual funds where the bank makes a lot of margin. They know that if you buy ETFs they won't make any money.
    It is the OPs job yo verify and then figure if he or she wants to do business with a bank that lets its employees lie...

    i would oersonally send an email to MAS to verify
    Last edited by shri; 07-09-2021 at 05:17 PM.

  9. #19

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    John_1122 seemed like he wouldn’t have had trouble meeting the asset requirement and his level of knowledge seemed at least slightly higher, even if his questions sometimes seemed puzzlingly quixotic/repetitive.
    i suspect his latest incarnation is ginasomething..
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  10. #20

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    Can’t you open an account directly with Interactive Brokers, Charles Scwab etc?