Convoy eyes 10% MPF market share as mainland deals in the works

Convoy Financial Services chairman Wong Lee-man says the group is lining up mainland expansion, with many projects under negotiation he can’t disclose. It hopes to add mainland outlets, with Shenzhen and Beijing already covered and Nanjing in application.

What’s the MPF target?

Lift market share from under 1% to 10%. Asked about Convoy’s small MPF footprint, Wong said much depends on how the market develops once “MPF portability” lands, but the goal is a 10% share.

Why bet on mainland wealth management?

High inflation is pushing residents to grow their assets. Wong noted mainland broker-agencies only developed in recent years, leaving room for intermediaries; although inflation runs hot, residents want asset growth — good for wealth-management business.

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