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Money Concepts opens SAR base

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United States-based financial adviser Money Concepts has opened its Asian headquarters in Hong Kong as the start of an expansion programme in the region.

The company sees demand for its services in Hong Kong as more investors look to long-term planning for their investments.

The experience of moving from property to investments such as Internet stocks last year - many of which have slumped in value - would encourage people to take on financial advice and a more diversified portfolio, said Simon Luk, regional general manager for Money Concepts (Asia).

'They don't want to put all of their money into Hong Kong property - they would rather invest somewhere else,' Mr Luk said.

Money Concepts does not manage investment products, which helps it provide independent advice, according to a senior executive.

The company's international president Denis Walsh said: 'We do not have any products - we act as consultants for our clients.

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