The 16th 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	TBC
Round 2	Silver and Bronze Awards Best Presentation Awards Best Financial Planning Awards	21 3 3
Round 3	Grand Awards Gold Awards	3 6

T.R.U.S.T. MODEL ASSESSMENT CRITERIA

Trust Establishment (10%)

Undergo a meaningful due diligence process on Know Your Customer (KYC) for the purpose of understanding the person
Scrutinise the source of funds and wealth to confirm the trustworthiness of the customer
Conduct an efficient and practical risk profiling that measures the actuality of risk tolerance versus risk perception

Recognising Financial Needs and Life Goal Analysis (20%)

Understand the reasons for life and event planning for different life stages and the challenges facing family situations
Collect financial and personal data, e.g. income and expenses, assets and liabilities, insurance coverage and retirement benefits
Determine the 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 cash flow analysis, current and future inflows and outflows of capital
Current asset and liabilities versus 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
Formulate a personal financial strategy and propose solutions and alternatives

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 the various goals of the customer 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 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 the status of the customer’s goals and the impact on the agreed plan and solutions
Examine the deviation from the IPS and the changes in risk parameters over time
Demonstrate the portfolio review mechanism
Describe a mechanism that cross-checks the customer’s level of satisfaction

Assessment

	Written Financial Plan	Oral Presentation	Q&A
ROUND 1	100%	-	-
ROUND 2	20%	45% 15 Minutes	35% 15 Minutes
ROUND 3	20%	45% 15 Minutes	35% 20 Minutes

Timeline

Date*	Detail
30/05/2023	Information Session
05/07/2023	Early Bird Offer Close
19/07/2023	Registration Deadline
26/07/2023 AM or 27/07/2023 AM	Training - Module I - Foundation Training
26/07/2023 PM or 27/07/2023 PM	Training - Module II - Best Practice Training
28/07/2023 AM or 28/07/2023 PM	Training - Module (III) Practical & Soft Skills Training
01/09/2023	Written Financial Plan Submissions Deadline
28/09/2023 6:00pm	Round 1 - Results Announcement
26/10/2023 - 27/10/2023	Round 2 - Closed Door Oral Presentation
03/11/2023 6:00pm	Round 2 - Results Announcement
17/11/2023	Final Round - Closed Door Oral Presentation
February 2024	Awards Presentation Ceremony

Enquiry

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

For more information, please click here.