Money Moves

Long-term outlook leads to job satisfaction

by Ada Ng

Raymond Chan
senior manager—private clients
Tyche Group
Photo: Nolly Leung
Having a successful career in financial planning requires more than business acumen and financial knowledge.

"Any adviser looking for a quick fix that brings in a million dollar practice is not going to have a truly satisfying career. Building a rewarding practice as a financial adviser takes time and persistence," stresses Raymond Chan, senior manager—private clients, Tyche Group.

When Mr Chan joined independent financial advisory firm (IFA) Tyche Group in 2003, he was attracted by the long-term growth potential of the industry. "During that period, the industry was still in its infancy, where investors were less aware of the importance of a long-term and holistic approach to investing," Mr Chan notes. "This situation has presented tremendous opportunity for finance graduates like me to grow in the profession that emphasises trust, integrity and long-term constructive client relations."

Over the years, the industry has enjoyed robust growth with investors fast becoming more sophisticated in investment products and services. Such growth prospects have cemented Mr Chan's interest in the industry, along with his anticipation for another wave of growth in the market.

Mr Chan notes that the main objective of his job is to help clients to achieve long-term financial security by identifying a financial product portfolio. "Rather than push sell in-house financial products, we're independent from the products that we recommend, and therefore remain neutral when it comes to the choice of investment," he emphasises.

During the process of portfolio customisation, Mr Chan notes that it is critical to gain a thorough understanding of clients' needs, long-term financial objectives and risk appetite. "If you treat this as a profession and long-term career, then you're really moulding your clients' future," he says.

Gaining clients' trust is fundamental in developing a good portfolio, but it is a lengthy process that requires a great deal of persistence. Mr Chan says, "I find the greatest rewards of being in this profession are the trust and long-lasting relationships I can form with clients. It's a profession that is sustainable for life if you gain trust and confidence from your clients."

He adds: "By offer my clients analysis and advice, I help them to attain their goals and objectives, and at the same time, achieve my own job satisfaction."

While an educational background in business and finance would be an asset, Mr Chan points out it is critical for any financial adviser to take responsibility for their own development. "It's a profession that recognises your efforts in continuous learning and builds around solid work experience. So, you've got to take it as a long-term career, such that you would constantly update your market knowledge and professional skills to stay ahead," he advises. "At the end of the day, clients turn to us for professional advice. We shouldn't be moved by clients' emotions and we should always point out unbiased solutions."

Taken from Career Times 7 May 2010, A9
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