As Hong Kong's private wealth management market continues to expand and develop, the industry is taking crucial steps to ensure there is enough qualified talent in the city to handle demand from clients.
Based on feedback from wealth management providers and regulators, the Hong Kong Securities Institute (HKSI) believes its Certified International Wealth Manager (CIWM) programme will provide a strong platform from which private wealth management professionals can embrace knowledge and values such as trust, transparency and fairness.
HKSI chief executive SF Wong says the institute believes the CIWM qualification - launched last year - is beneficial to the private wealth management market practitioners and clients.
'The CIWM programme is an initiative driven by the industry to ensure private wealth professionals in Hong Kong are well-equipped to ride on a growing wave of opportunities,' he says, adding that the qualification can also assist participants in advancing their career development.
Wong says clients can also look forward to enjoying better services from trained market professionals. 'The CIWM initiative is aimed at increasing client trust towards practitioners and the institutions that employ trained professionals,' he says.
Divided into modules, the CIWM programme comprises 84 hours of course work. 'The course combines theory and practice and integrates the most recent results of research in disciplines such as wealth management, behavioural finance, real estate valuation and analysis, relationship management, and international and domestic wealth planning,' says Wong.