The new centre, occupying two floors on Russell Street opposite Times Square , officially opens on Friday

Futu Holdings is expanding its footprint in Hong Kong with the opening of its first flagship store and inaugural Institutional and Private Wealth Services centre in Causeway Bay, underscoring the online brokerage’s ambition to capture the city’s growing base of high-net-worth clients.

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 the property agency.

Futu could be paying HK$1.2 million per month for its bricks-and-mortar branch, according to agents’ estimates. Futu declined to comment.

The online broker’s lavish physical branch serves what Futu called the need of so-called “new wealth” clients who seek professional, face-to-face advice on complex asset allocation needs.

Executives noted that high-net-worth investors are showing greater interest in fixed-income products such as bonds and structured funds, particularly against the backdrop of elevated US dollar interest rates. At the same time, equities in Hong Kong and the US remain their most actively traded products, while some are also looking at alternatives including hedge funds, quantitative strategies and gold-linked products.

Leveraging its technology platform, Futu said it aimed to provide a differentiated service that integrates digital trading, AI-powered research and global asset allocation. Its private wealth clients can access products ranging from high-end mutual funds, private equity and structured products to virtual assets and family trusts.

The company has also adopted a “1+N” service model, with a dedicated client manager backed by a team of specialists in various fields.

The strategy has paid off. In the first quarter of 2025, net asset inflows surged 170 per cent from last year, while assets under management jumped 74 per cent and client numbers nearly doubled in the second quarter, Futu said.

“High-net-worth clients increasingly want both flexibility and depth in services,” said Kevin Fu, executive director of Futu Institutional and Private Wealth Services. “By combining dedicated managers with a team of specialists, we can better address those needs and strengthen long-term relationships.”

Hong Kong’s stock market has rebounded, as the Hang Seng Index jumped 25 per cent this year, the best among major global benchmarks. Brokers expect the rally to extend into next year as China’s economic outlook stabilises, while more than 200 companies line up for initial public offerings in the city.

Futu’s Russell Street store will not replace its branch on Lee Garden Road, spitting distance away in Causeway Bay, which will continue to serve retail clients. Tse said the company could add more outlets in Hong Kong or other markets if demand warranted, but stressed that new locations would be guided by client needs rather than sheer scale.