Financial Planner


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Financial Planner and IFPHK

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Financial Planner

  1. 1. by Thanakrit Lersmethasakul FINANCIAL PLANNER
  2. 2. financial planner A or personal financial planner is a practicing professional who prepares financial plans for people covering various aspects of personal finance which includes: Risk Management and Insurance Planning Investment and Planning Issues Retirement Planning Tax Planning Estate Planning Cash Flow and Liability Management Relationship Management Education Planning for kids and the family members
  3. 3. Personal financial planning is broadly defined as … “A process of determining an individual's financial goals, purposes in life and life's priorities, and after considering his resources, risk profile and current lifestyle, to detail a balanced and realistic plan to meet those goals”.
  4. 4. Objectives - financial goals To create the greatest probability that all (anything requiring both money and planning to achieve) are accomplished by the target date. frequently-updated - To have a sensible plan that is proactive enough to accommodate any major unexpected financial event that could negatively affect the plan. - To make along the way (whether to "buy or lease" whether to "refinance or pay-off" etc.). intelligent financial choices
  5. 5. The Four E's Education Examination Experience Ethics CFP® Certification: The Standard of Excellence CFP Board’s coursework: General principles of financial planning Insurance planning Investment planning Income tax planning Retirement planning Estate planning Interpersonal communication Professional conduct and fiduciary responsibility Financial plan development (capstone)
  6. 6. Demographic breakdown Report 2011
  7. 7. Demographic breakdown Report 2011
  8. 8. Demographic breakdown Report 2011
  9. 9. Industry Outlook 2008
  10. 10. Potential barriers to growth for consideration 1. Supply of suitably qualified professionals A large number of respondents identified the lack of supply of local experienced financial planning professionals as a potential significant barrier to future growth. 2. Professional standards The complexity of the Hong Kong regulatory framework, which made the establishment of a series of uniform professional standards across the financial planning industry difficult.
  11. 11. Industry Skill Review Insurance industry - Strong in business development skills. - Need to develop additional technical skills. Retail banking - Need to develop a stronger technical skill base. - Need to develop the skills to distinguish what is the most appropriate product(s) for their clients’ financial plan.
  12. 12. Service Offering Outlook for the Future In many international markets, as the financial planning industry matures and consumers developed a more comprehensive understanding about the importance of the industry remuneration methods changed from a commission based income to a fee based one. seeking professional financial advice, In general, Hong Kong consumers typically did not like paying up front fees. The lack of regulatory pressure on the issue of fee disclosure was also considered significant.
  13. 13. THANK YOU