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Money Moves

Mainland as magnet for wealth management

by Carmen To

Dennis Wong, managing director, CASH Frederick Taylor Limited
Photo: Johnny Kwok

The rapid rise of the wealth management industry in the last few years has provided numerous benefits for individual investors who have been introduced to new ways of maximising their assets. In parallel with that, many exciting opportunities in the sector have opened up for professionals keen for a long-term career with the promise of generous rewards.

"When the value of your clients' assets increases, they gain something and so will you," says Dennis Wong, managing director of CASH Frederick Taylor Limited. "There is nothing more rewarding than that."

As a listed company, CASH has made its name through offering clients a wide range of investment products and services, and providing employees with a fast route to financial security. "We give the right candidates excellent support and a guarantee of unlimited earning potential," says Mr Wong. "They can offer clients an all-round investment platform with different choices for wealth generation, and they have the back-up of our veteran management team to guide them. We are also proud that we help new recruits to establish a sound client base, which not every independent financial advisory (IFA) can do."

When recruiting, Mr Wong generally looks for university graduates who are proactive and mission-oriented. If possible, the company prefers to hire candidates with degrees in finance, business or communication, but also carefully considers personal qualities such as self-confidence and the ambition to succeed. During the first three months, new joiners receive comprehensive training which covers everything they will need to obtain their professional licences. The programme also includes aspects of business theories and communication techniques for dealing with clients. "Knowing your clients and understanding their needs is really the key to success," Mr Wong says.

Remuneration packages are made up of a base salary plus commission, which allow even relatively junior employees to earn between HK$250,000 and HK$300,000 in their first year. The company also offers medical cover and training allowances, while anyone staying for more than one year qualifies for special loyalty and performance bonuses. These are deliberately structured so that the longer someone remains with CASH, the higher their bonus each year.

Among Mr Wong's most important duties are maintaining strict ethical standards and ensuring that staff have all the support they need. He evaluates each person's performance in terms of revenue earned, how well they promote the company's overall goals, and the way they interact with clients.

"In addition to that, I am always looking for ways to expand," he says. "Before long, we plan to start investing in China property, which has great potential as an investment vehicle. It may be a good option for people who want to break into the China market. If they can apply some of the knowledge gained from working with us in Hong Kong, I'm sure they can make good returns in China in future."


Taken from Career Times 10 March 2006, p. A2

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