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Money Moves

IFA in pole position

by Grace Chan

Established financial conglomerate to maximise brand benefits

Anthony Yuen
executive director
CASH Wealth Management Limited
Photo: Edde Ngan

The global financial crisis has afforded independent financial advisors (IFAs) an unprecedented opportunity to seize the market from banks and insurance companies.

In a move to maintain its leading position, CASH Wealth Management has rolled out a re-branding strategy X strengthening its professional image by leveraging the prominent brand identity of its parent company CASH Financial Services Group (CFSG).

First and foremost, the company was renamed from CASH Frederick Taylor to CASH Wealth Management Limited in June. "In general, keeping things simple and a clear focus is our business direction," says the company's executive director Anthony Yuen. "The current market correction and global wealth transfer allow us plenty of room to reposition ourselves and develop new strategies."

Mr Yuen sees an urge to escalate the company's professional IFA image and to underscore its customer-centric approach. With a diverse range of products and services, from financial planning, education planning and retirement planning to offshore trusts and discretionary portfolio management, CASH Wealth Management will launch an all-round business platform, on which cross-selling will be possible.

Mr Yuen remarks, "Instead of being sales-driven, our financial advisors look at the options from the clients' perspective, compare and review products and structure long-term plans to help them achieve financial goals in different life stages."

New and improved

In line with the company's re-branding strategy, CASH Wealth Management has built a stronger team of financial advisors. "The size of our team has doubled since early this year and the number of frontline sales people is expected to grow by another 30 per cent by the end of this year," Mr Yuen reveals.

When looking for new recruits, the company values integrity and quality and gives priority to applicants with relevant experience in the financial planning industry. "We also welcome people with private banking and other non-financial backgrounds as long as they possess good work experience and client networks," Mr Yuen says.

By establishing CASH Wealth Management as the most admired IFA in Hong Kong, Mr Yuen believes the company will attract the best financial talent in town. "As long as we're the most productive team, talent will come knocking on our door. Our brand is the most effective recruitment strategy," he adds.

Mr Yuen concedes that CASH Wealth Management relies on the professionalism of its financial advisors to stay ahead of the competition. In this regard, a more comprehensive training infrastructure is now in place for both new recruits and existing staff.

In particular, a new 100-hour induction and training programme has been tailored, ensuring new recruits acquire all the industry and product knowledge, as well as the soft skills necessary for successful relationship building.

"We have extended our training period from three to six months, making certain that our new advisors will be sufficiently equipped to provide up-to-date insights and professional recommendations to our clients," Mr Yuen says.

Additional training will be given to existing financial advisors to improve their knowledge of portfolio management and skills in follow-up services.

To benchmark service and acquire best practice in the field, the company encourages its financial advisors to participate in industry competitions with an ultimate aim of enhancing the company's image and industry recognition.

Stronger foothold

In a bid to increase the exposure of the company's new brand image to the public, Mr Yuen says that a variety of marketing activities are in the pipeline. For instance, various investment seminars are being organised to deliver a tie-in message to the public and the company's partners.

"Improving customer relationship management is an essential step in our re-branding exercise," Mr Yuen reveals. The company is now working on a customer satisfaction survey to collect client feedback on its products and services.

Another key move for the company is to tap into the China market this year by leveraging the group's extensive business network in China. Currently, CFSG has representative offices in Beijing, Chongqing, Shanghai and Shenzhen in addition to the alliances with several prominent local brokers in China.

"We are in position to provide a diverse portfolio of financial planning and wealth management consultant services in the Greater China region in the long run," Mr Yuen concludes.

Strategic moves

  • Re-positioning exercise to build a clear and professional image
  • Leveraging parent group's well established brand and resources
  • Strengthening training for all staff


Taken from Career Times 26 June 2009, p. A2

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