Zhuhai and Macao can share complementary advantages in wealth management, and the cooperative development of city clusters will produce synergistic effects. From the perspective of the cooperation between China and Portuguese countries, Macao has multiple advantages in terms of wealth accumulation, financial legal system and lack of foreign exchange control, etc. With the opportunity of the “Belt and Road Initiative”, there is still much room for the future development in Macao’s wealth management market. However, the development of Macao’s wealth management market has problems such as the concentration of a single type of wealth management institutions and the need for diversified asset allocation. In contrast, Hengqin has advantages in terms of types of wealth management institutions, which provides a basis for cooperation between the two places. The development path can take reference from the virtual bank model. By building a financial open platform for the Hengqin Free Trade Zone in Macao, connecting investment and financing institutions in the two places, and enriching the types of local wealth management products in Macao, we will open up the its wealth management market and lower the entry threshold for the institutions.