Top-Notch Career in Wealth Managementby Nicolette Wong
The key role of a Relationship Manager is to keep their clients informed of the latest market changes that might affect or enhance their investment portfolios. Apart from strong initiative, professional knowledge and excellent communication skills, relationship managers need solid back-office support in navigating the financial market and turning challenges into opportunities and gains for their clients.
Following her university graduation in 2006, Ms Tsang was referred by a friend and joined HSBC as a Financial Planning Manager for two years. She rejoined the bank in 2010 as Junior Relationship Manager. "From there I have been promoted every year, and I am currently a Senior Relationship Manager," she remarks.
In addition to steady career progression, Ms Tsang believes HSBC is the employer of choice for its leading position in the industry and global reach, and its considerable investment in supporting and nurturing its staff. "The HSBC brand is very reputable and well-established," she elaborates. "The bank also provides a very comprehensive employee benefit package and support for training, and it allows me great exposure to both local and international customers."
With the volatile market conditions in recent years, financial advisors must keep a firm grasp on the pulse of global finance and take a proactive approach to consolidating their clients' investments. To achieve a long-term successful career in the field, Ms Tsang states that a relationship manager must be hardworking and flexible in order to adapt to different changes in the market and the industry.
Working for an institution with distinguished values is also crucial to long-term career growth, since it is instrumental to maintaining a strong client network over time. "Always uphold one of the key HSBC values of integrity so that you can build trust and foster long-term relationship with your clients," Ms Tsang says.
For those who are interested in working in wealth management at HSBC, Ms Tsang considers it a great opportunity for young talent who have the ambition and flexibility to succeed in a dynamic business environment. Hard work and dedication are pre-requisites to succeeding in HSBC, since the right candidates must be prepared to embrace various challenges on the job.
"First of all, it's not a simple job," she notes. "However, if you have the courage to strive for better, you will never regret the opportunity to work with HSBC because it is definitely an environment which allows you to develop and achieve much more than you could ever expect."
As clients' investment goals are constantly being refined on both a long-term and a short-term basis, financial advisors must possess broad knowledge of the market to review and restructure their clients' financial portfolios in their best interest. With its diverse business scope, HSBC offers its relationship managers exposure to different areas of the industry and the market, and thorough support in working with an extensive client base. Ms Tsang calls this the most rewarding aspect of working in the field, as she has the ability to gain a unique combination of experience in and exposure to the market in her position.
"Working in HSBC has been an eye-opening journey for me," she contends. "It has allowed me to reach out to clients and businesses from all walks of life, so that apart from capturing the financial needs of businesses, I am also kept abreast of the latest developments in the world around us."
On the forthcoming challenges in wealth management, Ms Tsang pinpoints the highly competitive environment in the retail banking environment in Hong Kong. In order to ensure that HSBC remains the first choice of its customers, differentiation in both products and service is key.
"We must always strive to maintain HSBC's marketing leading reputation by offering carefully considered wealth management solutions combined with outstanding specialist support and services," she stresses.
With a solid foundation for her career and comprehensive support from HSBC, Ms Tsang is dedicated to furthering her success as a relationship manager in tandem with the bank's business development. Looking ahead, Ms Tsang looks forward to working closely with the HSBC team to refine and provide tailored solutions, and consolidate client relationships amid the many challenges in the wealth management field.
"There are still many uncertainties in the global market and we have to focus our efforts in building up our clients' confidence in this highly volatile market. That is going to be a big challenge for us this year and beyond," she concludes.
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27 March 2014