Senior corporate executives know a good thing when they see it, which explains why so many have lent their support so enthusiastically to the SCMP/IFPHK Financial Planner Awards 2009.
'I think this kind of award is great,' said Roger Steel, chief executive of Sun Life Hong Kong, one of the sponsors of the event. 'Firstly, it helps the community to recognise that financial planning is a real profession, although a relatively young one. [And for contestants], it is like a super-advanced form of training because they are up against the best from the other companies, which makes it a great motivational thing for the individuals involved.'
Mr Steel said that having to impress experienced industry judges over three tough rounds of competition had the effect of polishing communication skills.
The format also helped promote a detailed and holistic approach to financial planning, focused on actual customer needs, and gave due recognition to participants working in the insurance, banking and independent financial advisory sectors.
'One of the key roles of the awards is to put people on a pedestal publicly and increase awareness of professional financial planning,' Mr Steel said. 'Our company encourages participation, but you've got to be very selective and only pick the people who are the best of the best.'
He felt that entrants who had already qualified as certified financial planners (CFPs) probably stood a better chance of success. The course gave them a structured six-step approach to analysing and addressing client needs, which the judges specifically looked for, as well as an appreciation of the general range of investment products.