Financial Planning Essay

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|Topic: “Describe the essential element to be a successful financial planner in Hong Kong and China. Explain the challenges of | |practicing ethical financial planning in Hong Kong and China.” |

The financial climate is changing constantly with the changing of numerous influential factors. Financial planning is one of the financial industries which gradually developed from a vague concept to a recognized specialty. However, this industry is still in a young stage so that there are some problematic issues concerned especially in some Asian districts like Hong Kong and China. It can be reflected particularly in the remuneration system and professionalization of financial planners as well as public recognition for this industry. To reach a mature level, the first step is establishing a public confidence. Therefore it is emergent for financial planners to think about how to become successful.

As the role of helping clients makes some most important decisions of their lives, financial planners are required to satisfy a specific set of essential elements. The first and also the most basic requirement for them is strong professional knowledge. Financial planners should be able to implement a comprehensive process when help clients create financial plans and evaluate financial products packages independently to satisfy clients’ need. Well-rounded professional knowledge in varied fields is crucial at the moment which including not only the financial related areas such as economics, business management, and investment, insurance but also some other non-financial related areas such as psychology and sociology. Having the general base knowledge is the start but not the end in the career so that many financial planners are expected to have an expertise in particular field which can help them directly take an advantage position in satisfying some specific clients’ need. Take the insurance planning...
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