Over 3,000 of deVere’s clients participated in the survey, with 76% choosing ongoing fees over upfront charges as their preferred payment method.
DeVere founder and chief executive Nigel Green said the results confirm the need for different business models in different global markets.
He said: “This trait of the Hong Kong market place is markedly different to many other global markets.
“With this in mind, our business in Hong Kong will now primarily be focused around a fee-based wealth management model as this is what our clients here are clearly telling us they want.”
DeVere took over the Hong Kong-based wealth management and IFA platform arm of the Precision Group Asia in November last year. They also purchased UAE wealth adviser Acuma in July.
The deals were the subject of much speculation as many interpreted the moves as elaborate rebranding exercises.
However, writing in International Adviser, Green said: “It is a considered response to what I believe is the forward direction of the industry.
“With this in mind, and to ensure we consistently meet the requirements of an evolving regulatory environment, the evolving demands of clients, and evolving industry trends, we believe our global operations should now ultimately be run as two separate organisations.”
DeVere will now be formed from a wealth management division which handles domestic and expatriate business and another focused on international planning advice for expat and globally-mobile investors.
Green says that the process of forming two distinct operations will accelerate throughout 2014.
