summarise into three key points: "The speaker is discussing the importance of positioning HSBC as a global and universal bank in order to capture the highest share of wallet from clients. They mention that negotiating lower commissions is not what clients need, but rather understanding their needs and providing solutions to help them find meaning to their wealth after they become rich. The speaker also mentions a case where UBS offered a client an institution share class for BREITS, which presents a challenge in defending HSBC’s offerings and communicating their premium value to the client. They highlight the need to take the conversation to an overall relationship level and address technical issues, while also emphasizing the importance of the Strategic Wealth Advisory Toolkit.

The key point of this passage is that when working with clients in private banking, it is important to focus on their wealth planning goals, including wealth management, risk management, and insurance. It is also important to be product-agnostic and listen to the client’s needs and desires, ultimately aiming to help them implement their investment objectives. The passage also mentions the importance of addressing lifestyle questions, such as cash flow and business expansion, as well as succession planning.

The key points of this passage are:

1. The speaker enjoys life once they start making a certain amount of money each year.
2. Topics of conversation that come up in relation to this include succession planning and family planning.
3. The speaker suggests discussing questions like why children should work in the family company, as it may reveal the need for professional management or divestment.
4. HSBC is the only bank with a platform to help clients with these types of questions.
5. Strategic asset allocation should be determined by clients’ needs and investment objectives.
6. Liquidity risk, return, and other considerations should be taken into account.
7. The speaker mentions not wanting to invest in tobacco stocks and considering ESG factors.
8. After determining asset allocation, it is important to consider clients’ lifestyle, liquidity needs, and long-term growth.
9. The speaker mentions potential interests in tech and taking advantage of the current interest rate environment.

The key points in this passage are:

1. The importance of helping clients organize their wealth and set up a portfolio.
2. By organizing their wealth in a certain way, it helps to avoid pricing concerns.
3. The core portfolio at the center should be consistently risk-managed, which is what clients find comfort in.
4. The team will come together to deliver different investment pockets and help clients implement them.
5. Prism and Aladdin risk engine are important for risk management.
6. The focus should be on helping clients manage risk, rather than just focusing on returns.
7. Asset allocation should be prioritized in the investment process.
8. Familiarizing oneself with the toolkit and having confident conversations with clients is essential.
9. The involvement of team heads, market heads, and product specialists in helping engage clients is important.
10. The goal is to learn how to leverage HSBC to engage clients effectively."