The Essential Element to Be a Financial Planner in Hong Kong

1107 words 5 pages
“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
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A financial planner can gain client’s trust by sharing their knowledge on retirement planning and making suggestions.
Professional and ethical behavior is the third important element for financial planners to gain reputation. Nowadays, more people concern about the ethical practice in financial sector, especially after the financial tsunami. Integrity can build trust with the clients and gain reputation. CFP Board set the “Code of Ethics and Professional Responsibility” which includes several principles – integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence. Without these principles, a financial planner cannot establish a well relationship with their clients.

To fulfill these three elements, a financial planner can gain good reputation among their clients and establish trusting relationships with them which make him or her to be a successful financial planner. CFP mark is the qualification recognized by Financial Planning Standards Board (FPSB). A financial planner needs to fulfill certain conditions – education, examination, experience and ethics.

Every financial planner would face ethical challenges when practicing financial planning. There are some examples for challenges of practicing ethical financial planning in Hong Kong and China.

There are complex financial products in Hong Kong and China. It is hard to compare these new and complex products with the traditional one. The aim


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