The HKIB Outstanding Financial Planner Awards

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2 The HKIB Outstanding Financial Planner Awards Objectives In view of the growing importance of financial planning and wealth management business both to the status of Hong Kong as an international financial centre and the well being of individuals, The Hong Kong Institute of Bankers and Career Times are jointly organizing the HKIB Outstanding Financial Planner Awards The objectives of the awards are: - To increase public awareness of the importance of financial planning - To enhance the competitive edge of practitioners in the banking and financial sectors - To emphasize the importance of ethical selling and product suitability for customers - To recognize individuals who excel in the financial planning profession Target Participants All financial planning practitioners in Hong Kong s banking and financial sectors are welcome to participate. Categories There are 6 categories of entries (A1, A2, A3, B1, B2, B3) based on the number of years of financial planning experience of individual participant and the selected stage of customer s life cycle. Participants may choose to submit a genuine financial plan, in written form for an existing customer, for Education or Personal Protection or Retirement. Group A: Financial Planners with up to 3 years of experience The stages of customer s life cycle A1 A2 A3 Single Married Married with Children Group B: Financial Planners with over 3 years of experience The stages of customer s life cycle B1 B2 B3 Single Married Married with Children Education or Personal Protection or Retirement While there are various financial needs and goals for different stages of life cycle, the above mentioned goals are most common. All customers personal particulars in the submitted financial plan must NOT be disclosed by the participants under any circumstances. Assessment Assessment of the submission will be based on the candidates ability to demonstrate the following 5 key elements in the process of providing financial planning services for their customers: T rusting relationship R ecognize financial goals well U nderstand financial status comprehensively S tructure financial plan that meets the goals and status T imely management of agreed financial plan

3 Three Rounds of Assessment First Round: (Written Financial Plan) - All candidates are required to submit a genuine WRITTEN financial plan based on a selected catagory. Second Round: (Oral Presentation) - The selected candidates of each category will be invited to give an ORAL presentation of their submitted financial plan ( visual aids are allowed ) and attend an interview with the judges. Final Round: (Written and Oral Presentation) - The selected candidates will be required to give a presentation based on a hypothetical case study (information will be released two weeks prior to the presentation). Assessment for the written financial plan will be based on the following 5 key elements of financial planning: Trusting Relationship (10%) Recognize Financial Goals (20%) Understand Financial Status Structure Financial Plan - Able to gather customer data before the meeting - Prepare financial and market information relevant to the customer s requirement before the meeting - Able to demonstrate credibility and create positive impression during the meeting - Understand customer s current and future financial goals in relation to respective financial needs - Define customer s risk tolerance level, liquidity concerns, budget and expectation of return - Know customer s current financial position well - Understand customer s investment experience - Conduct financial gap analysis - Anticipate hidden financial needs according to different stages of life cycle - Customize financial solutions according to the financial gap analysis, customer profile, market research information, regulatory environment - Introduce suitable investment products and financial services to meet customer s financial goals - Ascertain customer s understanding of the financial plan and the risks involved Timely Management (10%) - Demonstrate the portfolio review mechanism with a view to achieving customer s financial goals - Illustrate the availability of ongoing customer services mechanism to maintain a trusting relationship Assessment for the oral presentation will be based on the following criteria: Attitude - Able to impress the customer as a responsible, sincere and trustworthy financial planner Technical Competence - Financial Knowledge - Able to demonstrate to customers the relevant knowledge when explaining the features of financial markets and various financial products, regulatory environment, code of ethics and the risks involved Interpersonal and Communication Skills (40%) - Able to communicate with customers precisely and convincingly with respect to different background and personalities - Able to gather customer s information tactfully - Able to resolve customer s doubts and concerns relating to his/her financial planning needs - Able to ensure customer s understanding of proposed financial plan, risks involved and related product features

4 Awards Round Awards No. of Awards First Certificate of Merit To be confirmed Second Trophy 18 (Top 3 Winners from each category) Final Outstanding Financial Planner Grand Award Trophy 2 (1 Champion from each group) Timeline July 20 July 31 August 14 September 8 September 22 September 25 October 13 October 23 Information Session held at HKIB Training Centre Deadline for submission of Registration Form Deadline for submission of Written Financial Plan for 1st Round Assessment Announcement of 1st Round Winners 2nd Round Oral Presentation Announcement of 2nd Round Winners Final Round Assessment Award Presentation Ceremony at Conrad Hotel Organizing Committee Chairman Prof. Richard Ho Vice-President (Undergraduate Education), Professor (Chair) of Finance City University of Hong Kong Members Susan Au Senior Manager Wealth Management Training Learning and Employee Development Asia Pacific The Hongkong and Shanghai Banking Corporation Limited Grace Cheung Business Development Manager Bank of China Simon Fan Investment Consultant DBS Bank (Hong Kong) Limited Calvin Ho Investment Consultant Team Head Citibank (Hong Kong) Limited Neville Ko Agnes Lam Allan Lau Dr. Raymond Lee Senior Investment Counsellor Standard Chartered Bank Financial Planning System Manager Bank of China Manager, Agency Training The Prudential Assurance Co Ltd. Senior Consultant The Hong Kong Institute of Bankers Candy Leung Francis Lui W T Puk Ida Wong Manager, Customer Experience & Marketing Standard Chartered Bank Investment Sales Manager Hang Seng Bank Investment Consultant DBS Bank (Hong Kong) Limited Sales Project Manager Citibank (Hong Kong) Limited Novan Wong Angus Yip Jondy Yiu Manager Quality Development Personal Financial Services Assistant Agency Development Manager Manager, Regulated Investment Sales The Hongkong and Shanghai Banking Corporation Limited American International Assurance Company (Bermuda) Limited Hang Seng Bank

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