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Daring duo share the spoils

HSBC

Sometimes, taking part in a competition is not only tough for the participants but also for the judges. This has certainly been the case for those judging the banking industry element of the fourth annual SCMP/IFPHK Financial Planner Awards.

This year's awards were open to investment advisers from the fields of banking, insurance and independent financial advisers. While one contestant is usually picked from each sector to be named as the winner for their particular industry, this year's banking sector entrants were so strong that two joint winners were selected to take part in the last phase of the competition.

Michelle Chan Suk-han represented the Bank of China (Hong Kong) in the competition, while joint winner Galen Chan Chi-kit is a member of HSBC's team of specialists.

Michael Huddart, a co-judge of the competition's banking sector and the executive vice-president and general manager, Hong Kong, for Manulife (International), was impressed by the performance of all the final candidates.

'They have all demonstrated themselves to be excellent, top-notch financial advisers,' Mr Huddart said.

Ms Chan, a senior wealth management manager, convinced the judges of her financial planning acumen thanks to a clear and well thought-out financial plan.

'[It] prioritised objectives to help clients stay in control of their financial future,' she said. '[It also] took into consideration the impact of the latest market conditions.'

Galen Chan, the joint industry section winner with Ms Chan, relished the chance to take part in the competition. Mr Chan noted that it provided a good opportunity to meet different competitors and judges.

He also valued the opportunity to give a presentation in front of more than 30 professional judges, in addition to serving as an interviewee for different media players during the competition.

'I felt challenged during different stages of the financial planning competition and felt excited about the 'my favourite financial planner' award,' he said, referring to the new category in this year's competition whereby consumers picked their preferred financial planner from a pool of nine top-performing candidates.

Mr Chan worked in three different industry sectors after graduating from university and had also run his own business before joining the banking industry.

As a result, he was able to prepare for the competition using different approaches, supported by his diverse working background. 'This affected the way I approached the competition,' he said.

Mr Chan said that the SCMP/IFPHK financial planning competition was the logical thing to do, after having competed in another financial planning competition the previous year. He was also inspired to take part as the bank is a keen participant in the competition every year.

HSBC's training department was swift to help Mr Chan prepare for the competition. 'We prepared step by step - from analysis and case writing to presentation skills drilling,' he said.

One element that Mr Chan felt helped him stand out was his focus on professionalism. 'A financial planner has to be professional,' he said.

'This is my only thought in doing my business and also [in taking part in] the competition,' Mr Chan said. He said everyone, regardless of their background or status, needs some kind of financial planning, whether they were wealthy or not.

Garnering this prestigious award had been a considerable bonus, despite the fact that his title was shared with his rival at BoC (HK).

Far from resenting having to share the spoils, Mr Chan noted that this was simply indicative of the high level of entries. 'This means the level of all competitors is very close [and] I am glad to see that in the industry,' he said.

The competition also allowed Mr Chan to see the standard of financial planners across a range of industries. This helped him push himself to focus on making progress in future, he said.

Mr Chan strongly recommended that other financial professionals ought to consider taking part in the SCMP/IFPHK Financial Planner Awards in future years.

'The best way to enhance your presentation skills, knowledge of financial planning and problem-solving ability is to join competitions,' he said. 'Competitions make one strong.'

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