Money Moves

IFA to increase staff by one hundred

Grace Chan

Alan Tsang
director & chief executive officer
AMTD Group Company Limited
Photo: Edde Ngan

IFA to increase staff by one hundred

Hong Kong's burgeoning financial industry has an insatiable appetite for competent service-oriented professionals particularly those who are versed in the area of wealth management. One of the city's most distinguished independent financial advisory (IFA) is keen to join the fight for talent.

"Over the years, our consultancy workforce has grown manifold despite fierce competition from major banking institutions, insurance companies and our IFA counterparts," says Alan Tsang, director & chief executive officer, AMTD Group Company Limited.

Currently, AMTD employs 300 fulltime salaried financial consultants and the company now aims to increase this number to about 400 by the end of the year. Hailed for its youthful vibe and energetic environment, the company takes considerable pride in its academically sound consultancy force. "A majority of our existing financial consultants are university degree holders who came to us with little previous work experience but a great deal of fresh ideas," Mr Tsang notes.

All the company's new recruits take part in a two-week structured induction programme which helps to hone skills, increase product knowledge, and impart insights into AMTD's own computerised financial planning system. Soft skills training like those in customer service and time management is also on the agenda.

An increasing number of affluent individuals from across the Chinese border are taking an avid interest in Hong Kong's wealth management service. To meet demand, AMTD has recently tagged on a series of Mandarin lessons to its staff training calendar, with enrolled staff required to pass an certification exam.

Fulfilment of compulsory licensing requirements and continuous professional development (CPD) are supported. "We also allocate sufficient resources to on-the-job training," Mr Tsang reveals. "Each of our financial consultants receives at least a day's training every month."

Strategic advantage

Leveraging off the proprietary access to the client base of its parent company Cheung Kong Group, AMTD financial consultants devote much of their time and effort to serving the wealth management needs of only two existing clients on a single working day.

With a view to further expanding the company's clientele and tapping market potential, the company made a bold new move earlier in May to acquire a group-buying website BuylaBuy which is now known as the amtdBuylaBuy. The group-buying website, together with the one-million-member strong AMTD Club, is now the largest in Hong Kong in terms of membership numbers.

"Group-buying is all the rage at the moment," Mr Tsang says. "This unique platform allows cross-selling activities and we can now communication with our members in a more direct manner and offer them an array of privileges and member benefits."

He reveals that this strategic move also offers the company an unprecedented opportunity to attract Hong Kong's younger demographic to the range of AMTD services. "Young people nowadays are keen to understand and enhance their financial future," Mr Tsang notes. "We are confident that amtdBuylaBuy has a lot more to offer and we will continue to explore the potential of this specific channel."

Taken from Career Times 24 June 2011

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