Need Expert Financial Advice?
or Call Us at: +852 3728 0490
Introduction
If you’re considering engaging the services of a Financial Advisor in Hong Kong make sure to do your research. Use our checklist below as your starting point. Follow this and you’ll be on the right track to getting quality advice that’s right for you.
6 Things You Must Know
1. Qualifications and Education
The minimum qualifications an advisor in Hong Kong requires are the SFC (Securities and Futures Commission) Type 1 and CIB (Confederation of Insurance Brokers) Papers 1, 2 + 3. If your advisor has not attained these credentials then they may be operating illegally in Hong Kong and opening you up to the potential risk of losing your investment without any powers of recourse or appeal.
What to Ask: What are your qualifications and what credentials do you have? Do you have to do any type of continuing education to retain your certification?
2. Experience
The years of experience as well as the quality of experience your advisor has matters. You want to make sure that your advisor has a minimum number of years of experience and that he/she stays in touch with changes in the industry that may impact your investments, taxes, estate planning and insurance.
What to Ask: How many years of experience do you have providing investment or financial planning advice? How do you stay current with industry changes?
3. Company Size
The size of the company has to fit you. Smaller firms may be more personalised, but equally may also be more expensive as they benefit from little to no economies of scale. Larger firms may provide more of a brand. At the end of the day you have to feel confident that you are getting the best advice and service you deserve.
What to Ask: How many clients do you work with? Am I going to be a smaller or larger client for you?
4. Fees
Understanding the fee structure is critical; many advisors charge differently, which will ultimately impact your ‘net’ return. Align yourself with an advisor who’s charging structure you are most comfortable with, which in turn will be more closely associated with your own investment objectives.
What to Ask: How are you compensated? Do you receive any form of commission or fees from other sources other than your clients?
5. Investment Philosophy
How your money will be invested is critical. You have to believe in the advisor’s investment philosophy. If you believe in day trading and you choose an advisor that has a long term approach to investing you will be very frustrated. Make sure you ask a lot of questions about the advisor’s investment philosophy before you commit.
What to Ask: What types of investments do you use? How often are changes made to my portfolio and what is the rationale for these changes?
6. Service Approach
No one likes to feel like a number so make sure you won’t be one. Find out in advance who will be your ongoing contact and how your account will be serviced.
What to Ask: How do we keep in contact through the year and how many times do you typically communicate with clients?
Get Personalised Advice
About Expat Financial
Expat Financial is a team of highly experienced Hong Kong based Financial Advisors. As Expats ourselves we understand the challenges of living and working in a foreign country. We use our Expat experience along with our extensive financial expertise to help you maximise the benefits of working and living offshore.
Regardless of whether you’re a financial novice or a seasoned investor we specialise in helping you to achieve your goals.
Learn More About Us
Additional Information Resources
Additional information resources are available by clicking on the links below:
You can also view information related to your particular stage of life: