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John Cremer

WILLIE YIU WAI-YEE
Overall SCMP/IFPHK Financial Planner Awards 2011 winner,
Winner, independent financial advisory category
Both Willie Yiu's degree and his current role as what amounts to an adviser to professional advisers demonstrate how the status and study of financial planning have developed over the last few years. 
As business manager for ipac Financial Planning (HK),  Yiu's main responsibility is to act as an in-house consultant, helping colleagues to navigate the more technical areas of taxation and investment, which wealthy clients with international interests may encounter. 
'Our advisers are all well qualified, but sometimes very specific issues come up which require extra research and guidance,' Yiu said. 
'Each situation is unique, so I will look at things like tax structures in other countries and present the information in a clear and concise manner to be passed on to clients.' 
Citing one example, he mentions the case of an Asia-based client wanting to buy a yacht and export it to Australia for holiday and retirement use. There were all sorts of financial planning implications in terms of duties, insurance and possible tax. Unravelling these took a mix of expertise and pragmatism.
But it was equally important to anticipate and analyse problems the client might not have considered and have answers for those as well. 
Yiu first learned about combining technical knowledge, foresight and interpersonal skills when studying for a business and financial planning degree at the Royal Melbourne Institute of Technology.  The course, which included key modules on strategy, law and macroeconomic trends, recognises financial planning as a distinct and increasingly complex discipline. 
'I found the lecturers very inspiring,' Yiu said. 'They were keen to share their industry experience and made it easy to see the relevance of financial planning and its impact on people's lives. That is still a big driver for me.' 
Having won the IFA (independent financial advisory) category at the SCMP/IFPHK Financial Planner Awards 2011, Yiu is still getting used to his new title, but he is aware that it can potentially open many new doors. 
'I like the research area and would like to go higher in this side of the business,' he said. 
'I find it very interesting and there is so much to learn.' 
HENRY HO YIU-LUN
Winner, insurance category 
 Early in his career, Henry Ho realised that good financial planning goes far beyond the discussion of different insurance and investment options. And after 12 years in the field, he is more convinced than  ever that success requires the personal touch. 
That means developing a close relationship with every client to be sure about their concerns, priorities and aspirations, and to be able to propose solutions that really fit. 
 'One of the things that still gives me the most satisfaction is helping clients solve their financial problems,' said Ho, a district manager for Ageas Insurance Company (Asia).  'To do that, you have to understand what is important to them and you must be ready to give more general guidance and advice.' 
To illustrate his point, he refers to his choice of case study for the first round of this year's competition. It concerned a client whose main goal was to save enough for her two children's college education. 
Ho obviously respected this priority, but also explained how she could readjust income and expenditure to allow for other insurance, investment and retirement needs which had been overlooked. 
'It is a good sign that clients expect more from financial planners and are not just looking for a solution to one problem,' Ho said. 'They want detailed explanations and expect professional advice that takes account of changing family circumstances and their long-term needs.' 
In general, Ho believes the keys to success in the profession are continuous education, being sensitive to market trends, and always observing the respective codes of conduct. 
More specifically, he notes that, for day-to-day dealings, knowledge of financial products and protocol only gets you so far. In the end, everything comes down to good communication skills and being able to see things through your client's eyes. 
Realising that success in the competition can serve as a springboard, Ho has two immediate targets. 'I would like to enlarge my client base to include more professionals and SMEs,' he says. 'I'm also hoping to find more clients from overseas markets, especially the mainland.'  
JULIAN CHEUNG MING-FAI
Winner, banking category 
 'It's all part of the service' has become one of Julian Cheung's favourite phrases during the year or so he has been a senior international relationship manager for Standard Chartered Bank (Hong Kong).  
That is because, in dealing with overseas-based clients, he has learned the need to supplement the expected broad range of investment advice with practical information about anything and everything relating to Hong Kong. 
As a result, he is now something of an expert on local property agents, special packages offered by telecom providers and who qualifies for the government's HK$6,000 handout. 
'Besides the banking things, clients usually want to know about other Hong Kong issues,' Cheung says. 'As a relationship manager, you develop a 'sense' that tells you financial planning is not just about managing money, but also about helping people and sharing knowledge.' 
For Cheung, a typical week might involve discussions with high-net-worth clients based on the mainland, in Taiwan and elsewhere in Southeast Asia. They may  include senior executives and company owners well versed in the workings of a corporate balance sheet and strategies for running a commercial organisation. Surprisingly often, though, they are not as focused on personal financial matters. 
'I might discuss cash flow management, keeping enough for emergencies, and what is needed for better asset allocation,' said Cheung. 'That can lead on to having a more structured financial plan that will help family members and consider things like paying for children's future education needs.' 
Another key topic for regular review is a client's plan for retirement. Accumulated savings and projected income may not be a concern, but timely diversification often makes sense to avoid having the bulk of assets in one country or in too narrow a choice of investments. 
'Clients wanting to retire in five or 10 years' time want to feel financially safe,' Cheung said. 'They may also be looking to move elsewhere, perhaps buying property in Hong Kong, so we must be able to explain residency and entry scheme requirements.' 
Looking ahead, Cheung hopes one day to work on the mainland. He sees it as a great chance to share his knowledge and develop the financial planning profession in a rapidly expanding market.



Planning their next moves