The Essential Element to Be a Financial Planner in Hong Kong

1091 Words5 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…show more content…
To increase public confidence in the financial planning, many banks and insurance companies require their staff to take the CFP examination. As for China, Chinese government has opened the financial market over the years which lead to the changes of the Chinese circumstance frequently. So financial planners in China are required to receive related education to enhance the public confident on financial planning. Taking the example of China taxation system, there were several changes in tax incentive for foreign business and individual income tax. Financial planners in China should aware these changes and modify their tax planning quickly for their clients. Interpersonal skills are essential to financial planners. Because they have to collect the data from their clients to make recommendations to their clients. When collecting data from their clients, financial planners should show their integrity and competence to convince the clients. It can be better to set the financial goal for their clients. Chinese people would not disclose their private information to the stranger easily. It hampers financial planners to help their clients to pursue their financial goals. Financial planners who serve for Chinese people should use their interpersonal skills to get close with their clients and collect more information. Many successful salespeople suggest making friend with the customers and clients. Caring with client’s needs
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