She said that according to a research paper published by the Securities and Futures Commission in August entitled 'Hong Kong as a leading financial centre In Asia', Hong Kong was ranked first in Asia in terms of the ratio of CFP certified planners to the population. The paper said this represented 'an important differentiator for Hong Kong as it builds itself as a regional financial services hub'.

The CFP certification course was a comprehensive and rigorous programme designed to prepare professionals in the financial planning and wealth management services industry for the current and future demands of potential clients, she said.

'Every candidate will have to complete the Four Es to receive a certificate. These represent education, examination, experience and ethics.

'For education, the candidates will need to develop their theoretical and practical financial planning knowledge by completing a comprehensive programme of study at a university offering a financial planning curriculum approved by the IFPHK,' she said.

The programme includes six modules: first a foundation course in financial planning, followed by an insurance course, investments course, taxation and tax planning course, employee benefits and estate planning course and finally an advanced financial planning course.

There are six approved CFP programmes offered by tertiary institutions in Hong Kong, including ones offered by the University of Hong Kong's School of Professional and Continuing Education, City University's School of Continuing and Professional Education and Chinese University's Asia-Pacific Institute of Business.

Once the candidates complete the required number of modules, they can sit for the CFP certification examination papers. Ms Chin said the examination assessed the knowledge of candidates in four core areas: insurance and retirement planning, tax and estate planning, investment planning and financial planning practice.

While candidates who successfully navigate the examination are eligible for the CFP certification, they need an appropriate level of experience before they can attain it.

'CFP professionals must have a minimum of three years of qualified experience in the financial planning process before earning the right to use the CFP certification marks. For non-degree holders, the minimum is six years of qualified experience,' Ms Chin said.

As a final step to certification, CFP practitioners must pledge to abide by a strict code of professional conduct. The Code of Ethics and Professional Responsibility sets forth their ethical responsibilities to the public, clients and employers.

'IFPHK also performs a background check during this process,' Ms Chin said.

All these requirements had made the CFP certification a respected qualification programme, both in the financial planning industry and among consumers, she said. And although other financial planning certification schemes had popped up, the CFP certification continued to set the benchmark.

'CFP is the first international qualification brought in and localised for the Hong Kong market and is still today the most globally recognised certification for financial planners available in Hong Kong,' she said.

Ms Chin said this recognition - which would allow those with the Hong Kong CFP qualification to be accepted in several overseas markets, including Australia, Canada and Japan - had been built up over 33 years and would be difficult for other qualifications programmes to replicate.

She said the CFP programme taught a distinct six-step financial planning process based on best practices in the industry.

'The emphasis is not on product selling, but in following a customer-centric approach to identifying clients' goals, and building and maintaining a financial plan that is geared toward reaching these goals,' she said.

The CFP certification course is one of the few to have its own code of ethics which sets forth the certificate holder's ethical responsibilities to the public, clients and employers.

'The IFPHK also enforces this code by requiring all practitioners to voluntarily disclose any public, civil, criminal or disciplinary actions that may have been taken against them during the previous year as part of the renewal process. The institute also conducts its own investigations if there are complaints against certificate holders,' she said.

To ensure CFP-qualified planners stay current with developments in the profession, the IFPHK requires them to upgrade their knowledge and skills set in order to keep their badge of honour. A minimum of 15 hours of continuing education is required every year.

At the Financial World Expo 2006, there will be several areas where CFP certificate holders will take the stage. Chief among these will be the Consumer Education Corner, where consumers will have the opportunity to learn various concepts of financial planning in a fun way.