Hang Seng offers upgraded accounts to tackle these financial challenges.

Sixty-one percent of surveyed Hong Kong residents aged 25 and above with liquid assets of at least US$130,000 (HK$1m) said their parents do not expect financial support from them, according to a Hang Seng report.

The remaining 49% reported that their financial planning progress was at least 40% behind their stated goals.

The survey also revealed that respondents have allocated an average of 26% of their annual income to savings or investments over the past five years, whilst two-thirds indicated that their overall financial plans have yet to achieve their intended objectives.

Nearly 90% said they would continue to provide financial support to their adult children, and 75% acknowledged the importance of early legacy planning.

To address these challenges, Hang Seng Bank has upgraded its Prestige Family+ accounts, equipping them with a Goal Planner tool to track multiple financial goals across sub-accounts, with flexible asset allocation and real-time monitoring via mobile and internet banking.

“In the first half of 2025, new Prestige Family+ sub-account openings increased by 51%, demonstrating strong demand for family-focused financial services,” said Rannie Lee, Head of Retail Banking and Wealth at Hang Seng Bank.

Additional enhancements include the FamilyPower Multi-Currency Life Insurance Plan 2, offering flexible withdrawals, legacy planning options, multi-currency support, and family accident coverage.

Hang Seng also provides 23 investment categories across 10 currencies for flexibility to build portfolios aligned with the family’s needs.

HK$ 1 = US$ 0.13