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The new centre, occupying two floors with a combined area of more than 7,000 sq ft (650 square metres) on Russell Street opposite Times Square, officially opens on Friday . It marks Futu’s eighth permanent service point in the city and the first to combine online trading services with offline, personalised advisory service for affluent clients.
“Hong Kong will remain a core market for us, and we see strong demand from clients for more personalised support alongside our online services,” said Daniel Tse, managing director of Futu Securities, during a media preview on Wednesday. “This flagship store allows us to bring that experience offline and create a dedicated space for wealth management.”
To qualify to use the advisory centre’s service, clients need to hold at least HK$5 million (US$640,000) in investable assets, according to Futu’s website. That is less than the US$3 million typically required by traditional private banks, according to the company.
Russell Street is in one of Hong Kong’s main shopping districts. Shops along the 250-metre thoroughfare had to pay US$2,671 per square foot on average in annual rent as recently as 2018. That made it the world’s costliest retail strip at that time, surpassing the Champs-Élysées boulevard in Paris, Omotesando in Tokyo and Fifth Avenue in Manhattan, according to Cushman & Wakefield.
