Orchard Park, NY Office

HSBC Securities (USA) Inc. offers managed account programs to a wide range of clients — including individuals, retirement accounts, charitable organizations, and corporations — through several program types: the client-directed Spectrum Program, fully discretionary Spectrum II and Offshore Spectrum programs, and a wrap-style Managed Portfolio Account (SMA/UMA) and Prism offering for private bank clients. Clients are assigned an Investment Adviser Representative who handles suitability assessments, account maintenance and periodic reviews as part of the program relationship.

The firm’s investment process uses five model risk profiles (from Conservative to Aggressive) and combines strategic and tactical asset-allocation advice developed with HSBC Global Asset Management/AMUS while Global Manager Selection (GMS) and HAIL conduct fund and alternative-fund due diligence and ongoing monitoring; HSBC may rebalance or replace funds and, for Spectrum II and Offshore accounts, exercises full discretion. The brochure shows a substantial portion of managed assets are held in the non‑discretionary Spectrum Program (about $2.28 billion), so the managed-account business is weighted toward client-directed, non‑discretionary portfolios.

Several operational and structural features distinguish the firm from many peers: HSBC Securities operates as an SEC-registered adviser and broker‑dealer and is also registered as a futures commission merchant, and it offers an Offshore Spectrum program for qualified non‑resident aliens that invests in non‑U.S. registered funds and can be subject to longer settlement and jurisdictional constraints. The Programs rely on affiliated and third‑party providers (AMUS, GMS, HAIL and BNY Pershing) for advisory, fund selection, administrative and custody services, a setup the brochure discloses and identifies as creating conflicts the firm manages through policies and disclosure.