The 13th HKIB Outstanding Financial Management Planner Awards

Amidst increasing awareness of the importance of financial planning and wealth management, the HKIB strives to enhance the competency and integrity of financial planners and wealth management practitioners through this highly recognised Awards programme. Launched in 2006, the Awards recognise individuals who excel in the financial planning and wealth management profession.

Eligibility & Application

The Awards are open to financial planning practitioners in the banking and financial services sectors in Hong Kong and Macao. Applicants can choose to enter one of the following categories, based on their years of work experience and the nature of their practice:

Group A:
General Wealth
Management Customers

suitable for financial planners with up to three years of experience

View Group A winners

Group B:
General Wealth
Management Customers

suitable for financial planners with more than three years of experience

View Group B winners

Group C:
High Net Worth
Customers

suitable for financial planners who manage more than US$1 million (primary residence excluded) of customer investable assets.

View Group C winners

Each applicant is required to submit a written financial plan, either in English or Chinese, and orally present the plan to the judges. The applicant's current employer must endorse the plan prior to submission. Applicants may write the financial plan in one language and orally present it in another.

Awards

		No. of Awards
Round 1	Certificate of Merit	37
Round 2	Silver and Bronze Awards Best Presentation Awards Best Financial Planning Awards	21 3 3
Final Round	Grand and Gold Awards Top Nominations Awards	9 6

Judging Criteria(for Round 1)

Trust Establishment (10%)

Undergoing a meaningful due diligence process on Knowing Your Customer (KYC) for the purpose of understanding the person
Scrutinise the source of fund and wealth to confirm the trustworthiness of the customer
Conduct an efficient and practical risk profiling that measures the actuality of risk tolerance vs risk perception
Gather and build a mutual sense of investment and decision responsibility

Recognising Financial Needs and Life Goal Analysis (20%)

Understand purpose of life and event planning for different life stages and challenges facing family situations
Collect financial and personal data e.g. income and expenses, assets and liabilities, insurance coverage and retirement benefits
Determine customer's current wealth stage - creation, accumulation, protection or distribution

Undergoing Financial Assessment (25%)

Conduct reality checks on future goals vs current financial and human capital
Net worth and cashflow analysis, current and future inflows and outflows of capital
Current asset and liabilities vs future ones such as tax and estate liabilities
Evaluate and identify current and future financial gaps
Assess the effectiveness of the customer's current portfolio and investment allocation

Structuring Financial Plan (35%)

The concurrence of the proposed strategy built on the pillars of investment planning, protection planning, estate and succession planning and philanthropic planning
Recommend the most suitable insurance and protection products to meet various goals for the customers and his/ her family
Recommend the most suitable savings strategy and products to bridge or close the gaps for retirement, healthcare, and other life goals
Recommend the most suitable investment products and asset allocation strategy to reposition existing assets taking into account of risk management, domicile, time-horizon of goals and objectives, and regulatory requirements
Build an effective Investment Policy Statement (IPS) as a guideline for investment decisions and to manage the customer's expectations over time

Timely implementation and Expectation Management (10%)

Develop a detailed action plan checklist and a detailed review schedule as per the strategy and the purpose of each review and anticipated actions
Review goal status and impact on agreed plan and solutions
Examine the deviation from the IPS and the changes of risk parameter over time
Demonstrate the portfolio review mechanism
Describe a mechanism that cross-checks that customer's level of satisfaction

Assessment Process

Stage	Detail
Round 1: Written Financial Plan	Participants submit written financial plan based on hypothetical cases provided
Round 2: Closed Door Presentation	Participants are invited to orally present their written financial plans to judges
Final Round: Best of the Best	Select Grand/ Gold/ Top Nominations Awards

Timeline

Date*	Detail
27/06/2019	Launch Reception/Information Session
19/07/2019	Early Bird Offer Close
26/07/2019	Registration Deadline
30/07/2019 AM or 31/07/2019 AM	Training - Module I - Foundation Training (3 hours - 9:30am - 12:30pm)
30/07/2019 PM or 07/08/2019 AM (31/07/2019 PM class rescheduled due to bad weather)	Training - Module II - Best Practice Training (3.5 hours - 2:00pm - 5:30pm)
01/08/2019 AM or 01/08/2019 PM	Training - Module (III) Practical & Soft Skills Training (3.5 hours) AM: 9:00am - 12:30pm PM: 2:00pm - 5:30pm
05/09/2019	Written Financial Plan Submissions Deadline
03/10/2019 6:00pm	Round 1 - Result Announcement
30/10/2019 - 31/10/2019	Round 2 - Closed Door Oral Presentation
07/11/2019 6:00pm	Round 2 - Result Announcement
22/11/2019	Final Round - Closed Door Oral Presentation
06/10/2020	Awards Presentation Ceremony (Remarks: Rescheduled from 21 February 2020)

*Key dates are subject to change at the discretion of the organiser without prior notice

The 14th HKIB OFMP Awards will be launched in May 2021.

Enquiry

The Hong Kong Institute of Bankers,
3/F, Guangdong Investment Tower,
148 Connaught Road Central, Hong Kong

For more information, please click here.