HPM Hanseatische Portfolio Management GmbH

What HPM Hanseatische Portfolio Management GmbH does

HPM Hanseatische Portfolio Management GmbH is a BaFin-regulated, owner-managed independent wealth manager headquartered in Hamburg, Germany, founded in 1987 by Hamburg merchants and operating continuously for over 35 years. The firm offers discretionary portfolio management for private individuals, entrepreneurs, and foundations, structured around its proprietary Cubixx investment framework (covering investment styles, asset classes, and risk management) and supported by the GearBoxx weekly technical-analysis system covering 12 asset classes with a traffic-light signal methodology. It serves a primarily German, Hamburg-region client base through a high-touch personal advisory process for individual mandates starting at €250,000, plus a digital self-service wealth management platform — digiVestor (launched 2019) — that lowers the entry point to €10,000.

The business model is fee-only subscription revenue from ongoing portfolio management, with no product-provider commissions and explicit no-conflict positioning relative to banks. Distribution is hybrid: a personal-advisory motion for HNW individual mandates, a fully digital PLG-style motion via digiVestor, and since 2022 an HPM-B2B channel providing institutional solutions to distribution partners. Specialty offerings include alternative investments (maritime, private equity, ELTIFs) accessible to qualified investors.

Operationally, HPM has 52 employees, including 9 named client advisors, and reports €400,000 registered share capital. The firm completed a generational leadership transition in 2024, with Thomas Herwig and Heiko Holzgräber becoming managing directors and shareholders alongside founder Wolfgang von Malottky (now in an advisory/shareholder role) and portfolio manager Kay Fischer (shareholder since September 2024). Regulatory standing includes BaFin authorization under §15 WpIG, EDW membership, and VuV certification.

Name

HPM Hanseatische Portfolio Management GmbH

Legal name

HPM Hanseatische Portfoliomanagement GmbH

Website

https://hpm-hamburg.de

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

51–100 employees

Short description

HPM Hanseatische Portfolio Management GmbH is a BaFin-regulated, owner-managed independent wealth manager in Hamburg offering discretionary portfolio management for HNW private clients, entrepreneurs, and foundations via personal advisory mandates and a digital digiVestor platform.

Ownership category

akta.pro rank

Product category

Independent Wealth Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Discretionary Portfolio Management (DPM) (FSAAABAC)

Keywords

• Independent wealth management
• Asset management services
• Portfolio management
• Digital wealth platform
• Private banking advisory

Headquarters

HQ city

Hamburg

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Portfolio Management Fees: Transparent ongoing management fee for professional portfolio management. No commissions from product providers, no hidden costs, no conflicts of interest.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

HPM is an independent, BaFin-regulated wealth manager in Hamburg offering discretionary portfolio management for private clients, foundations and institutional partners. Its core offering spans individualized mandates (from EUR 250,000), a fully digital digiVestor platform (from EUR 10,000), rule-based standardized strategies, and specialty alternatives such as maritime, private equity and ELTIFs. Investment decisions are structured through the proprietary Cubixx investment framework and informed by the GearBoxx weekly technical market analysis system.

Product overview

HPM Hanseatische Portfolio Management GmbH offers a comprehensive wealth management platform consisting of individualized portfolio management services and standardized investment strategies. The core offering includes Individuelle Vermögensverwaltung (customized portfolio management starting at €250,000) and the digital digiVestor® platform (starting at €10,000). Premium strategies and the proprietary Cubixx-System provide investment structure across multiple asset classes. For clients seeking alternatives to mainstream investments, the Spezialitäten offerings include maritime sector investments, private equity, and ELTIFs. The company operates as a BaFin-regulated independent wealth manager without bank affiliations.

Differentiator

Problem solved

Functional benefit

Brands

• digiVestor®: Digital wealth management platform offered by HPM, enabling fully digital, paperless portfolio management starting from €10,000.

Products and services

• Individuelle Vermögensverwaltung (Individual Portfolio Management)
• digiVestor®
• Spezialitäten – Alternatives Investment
• HPM-B2B-professionell

Quantifiable outcome

• 35+ years of continuous independent operation since 1987
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Ahorn Capital GmbHminorChannel Partner/ Reseller/ Distributor · 31 October 2023Contractually bound intermediary (vertraglich gebundener Vermittler) operating under HPM's liability umbrella. Listed in BaFin's public register as of October 31, 2023.

Scale indicators3 records

Recent moves11 records

Expansion highlights5 records

Emerging players

• Liqid Asset Management GmbH: Berlin-based digital wealth manager offering discretionary portfolio management from €100,000 via a fully digital platform. Comparable in offering digital, fee-based portfolio management to affluent Germans; competes with HPM's digiVestor platform for the €100k–€250k tier that bridges HPM's two product thresholds.
• Whitebox GmbH & Co. KG: Stuttgart-based independent digital wealth manager offering algorithm-driven portfolio management from €10,000. Comparable as a German digital-first independent wealth manager targeting the same mass-affluent segment as HPM's digiVestor, with similar fee transparency and minimum-investment positioning.
• Scalable Capital GmbH: Leading German robo-advisor and broker offering digital wealth management and self-directed investing. Comparable as a tech-driven wealth management challenger targeting fee-conscious German clients; competes primarily with HPM's digiVestor platform at the lower end of the wealth spectrum.

Direct peers

• Flossbach von Storch SE: Large independent German wealth manager offering multi-asset portfolio management to HNW clients. Comparable in being independent, fee-only, multi-asset, and proprietary-investment-process-driven; operates at materially larger AUM scale than HPM but in the same competitive set for independent HNW mandates in Germany.
• Quirin Privatbank AG: Independent German private bank focused on fee-based wealth management for private clients and foundations. Highly comparable as an independent, advisory-led Hamburg-headquartered competitor — HPM's managing partner Heiko Holzgräber previously led Quirin's Hamburg metropolitan region for 13 years.
• PEH Vermögensmanagement GmbH: Independent German wealth manager offering bespoke portfolio management and standardized strategies for private clients. Closely comparable product overlap (bespoke mandates, alternative investments) and direct talent crossover — multiple HPM directors (Spahr, Janofsky) previously served as directors at PEH.
• DJE Kapital AG: Independent German asset manager offering discretionary wealth management and branded fund strategies to private and institutional clients. Comparable as an independent German wealth manager with proprietary investment processes and a focus on long-term, fundamentals-driven portfolio management.
• M.M. Warburg & CO KGaA: Hamburg-headquartered traditional private bank offering Private Banking and Wealth Management to UHNW clients. Directly comparable in geography and HNW target segment; HPM directors Helbig and Spahr previously held senior positions at M.M. Warburg.

Broad incumbents

• Hamburger Sparkasse (Haspa): Largest savings bank in Hamburg offering retail banking, private banking, and wealth management. Comparable as a dominant Hamburg financial institution that competes for the same affluent clients; HPM's positioning explicitly targets clients seeking an alternative to Haspa's bank-affiliated model.
• HSBC Trinkaus & Burkhardt AG: German subsidiary of HSBC offering wealth management, private banking, and institutional services. Comparable as a Hamburg-based wealth manager with a strong Private Banking franchise; HPM's founder and several directors previously worked at HSBC Trinkaus, and it competes for the same HNW segment though at much greater scale.

Market position

Strengths1 record

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bremer-landesbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HPM Hanseatische Portfolio Management GmbH