The Essential Element to Be a Financial Planner in Hong Kong

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“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.”

Successful financial planning
Successful financial planning
Establishing trusting relationships with clients
Establishing trusting relationships with clients
Strong reputation
Strong reputation
Professional and ethical behavior
Professional and ethical behavior
Strong financial planning knowledge
Strong financial planning knowledge
Strong interpersonal skills
Strong interpersonal skills
Financial planning has become much more important over the decade in Hong Kong and China. Many graduates and other people with professional financial planning knowledge engage into the field of financial planning. Being a successful financial planner, certain conditions should be fulfilled to respond the demand of clients and general public.

Figure1 Conditions of successful financial planning

As figure1 stated, a successful financial planner should establish trusting relationships with their clients which require strong reputation of those financial planners. There are three main elements to construct the strong reputation to the clients, including strong financial planning knowledge, strong interpersonal skills and professional and ethical behavior.

Financial planners are required to have the all-round knowledge. They are expected to evaluate all aspects of the clients’ financial needs including consumption, income and wealth analysis, insurance, retirement life, tax and estate planning. They should provide value-added services to fulfill the needs of the clients accordingly. Also, there are some microeconomic and macroeconomic factors would affect the performance of the investment portfolio. A professional financial planner should have related knowledge for clients’ best interest.

In Hong Kong, the financial market is well-developed .It is easy to find a large...
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