bodyType

customContents

entityId

printArticlePageQuery

filter

article

body

urlAlias

articleSectionsContent

articleSeoArticle

articleSourceHeaderArticle

contentSchemaRenderContent

contentSubHeadlineContent

contentHeadlineContent

mainImagePrintArticleArticle

authorBlockPrintArticleArticle

contentSponsorTagContent

articlePianoPaywallContent

scmpYoutubeContent

hooksTrackPageViewArticle

query printArticlePageQuery(
  $entityId: String!
  $customContents: [CustomContentInput]
  $bodyType: BodyFormatTypeEnum
) {
  article(filter: {entityId: $entityId}) {
    entityId
    body(customContents: $customContents, type: $bodyType) {
      json
    }
    urlAlias
    ...articleSectionsContent
    ...articleSeoArticle_3o8td4
    ...articleSourceHeaderArticle
    ...contentSchemaRenderContent
    ...contentSubHeadlineContent
    ...contentHeadlineContent
    ...mainImagePrintArticleArticle
    ...authorBlockPrintArticleArticle
    ...contentSponsorTagContent
    ...articlePianoPaywallContent
    ...scmpYoutubeContent
    ...hooksTrackPageViewArticle
    id
  }
}

fragment articlePianoPaywallContent on Content {
  __isContent: __typename
  ...hooksPaywallPromiseContent
}

fragment articleSectionsContent on Content {
  __isContent: __typename
  sections {
    value {
      ...helpersCheckIfNewsSectionInFirstIndexSection
      ...entityLink
      name
      id
    }
  }
}

fragment articleSeoArticle_3o8td4 on Article {
  ...hooksArticleSeoArticle
  ...helpersCheckIsPostiesArticle
  ...helpersGetArticleTypeArticle
  entityId
  publishedDate
  updatedDate
  summary {
    text
  }
  subHeadline {
    text
  }
  body(customContents: $customContents, type: $bodyType) {
    text
  }
  keywords
  sections {
    value {
      name
      id
    }
  }
  topics {
    name
    entityId
    id
  }
  urlAlias
  authors {
    name
    id
  }
  images {
    style(filter: {style: "768x768"}) {
      url
    }
  }
  readingTime
}

fragment articleSourceHeaderArticle on Article {
  urlAlias
  ...entityLink
}

fragment authorBlockPrintArticleArticle on Article {
  ...defaultArticleDateContent
  ...authorNamesArticle
}

fragment authorNameAuthor on Author {
  ...entityLink
  name
  entityUuid
}

fragment authorNamesArticle on Article {
  authorLocations
  authors {
    entityId
    location
    ...authorNameAuthor
    id
  }
}

fragment blockquoteQuoteContent on Content {
  __isContent: __typename
  ...contentShareWidgetContent
}

fragment checkersCheckContentContainsStarlingImageContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment contentHeadlineContent on Content {
  __isContent: __typename
  headline
  socialHeadline
  ...contentHeadlineTagContent
  ...helpersUseContentSponsorContent
}

fragment contentHeadlineTagContent on Content {
  __isContent: __typename
  ...hooksContentHeadlineTagContent
}

fragment contentNewsletterWidgetContent on Content {
  __isContent: __typename
  topics {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
    id
  }
  sections {
    value {
      relatedNewsletters {
        ...helpersMassageToNewsletterItemNewsletter
        id
      }
      id
    }
  }
  ... on Article {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
  }
}

fragment contentSchemaRenderContent on Content {
  __isContent: __typename
  ...blockquoteQuoteContent
  ...imageContent
  ...inlineWidgetContent
  ...photoGalleryWidgetContent
  ...scmpYoutubeContent
}

fragment contentShareWidgetContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  shortUrl
  socialHeadline
  headline
}

fragment contentSponsorTagContent on Content {
  __isContent: __typename
  ...helpersUseContentSponsorContent
}

fragment contentSubHeadlineContent on Content {
  __isContent: __typename
  subHeadline {
    json
  }
  summary {
    json
  }
  ...contentSchemaRenderContent
}

fragment defaultArticleDateContent on Content {
  __isContent: __typename
  ...hooksArticleDateUtilsContent
}

fragment entityLink on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  __typename
  entityId
  entityUuid
  urlAlias
  urlRedirect {
    toUrl
    id
  }
  application {
    entityId
    id
  }
  ... on Section {
    fullSectionPath {
      entityId
      id
    }
    parentSection
  }
  ...helpersAppBarVariantBase
  ...helpersApplicationBase
  ...helpersCheckIsPlusArticle
  ...helpersStyleSectionContent
}

fragment helpersAppBarVariantBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsLiveArticle
  ...helpersCheckIsPlusPage
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...helpersSectionContent
  ...helpersStyleSectionContent
}

fragment helpersApplicationBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPlusPage
}

fragment helpersCheckIfNewsSectionInFirstIndexSection on Section {
  name
}

fragment helpersCheckIsAmpEnabledArticle on Article {
  entityId
  types {
    value {
      entityId
      id
    }
  }
  sections {
    value {
      entityId
      id
    }
  }
  disableOffPlatformContent
  sponsorType
  published
  ...helpersCheckIsPlusArticle
  ...helpersCheckIsPostiesArticle
}

fragment helpersCheckIsLiveArticle on Article {
  flattenTypeIds
  liveArticle {
    status
    id
  }
}

fragment helpersCheckIsMainTopicContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment helpersCheckIsPlusArticle on Content {
  __isContent: __typename
  ... on Article {
    paywallTypes {
      entityUuid
      id
    }
  }
}

fragment helpersCheckIsPlusPage on Page {
  urlAlias
}

fragment helpersCheckIsPostMagazineArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesPage on Page {
  urlAlias
}

fragment helpersCheckIsStyleArticle on Content {
  __isContent: __typename
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersGetArticleTypeArticle on Content {
  __isContent: __typename
  ... on Article {
    types {
      value {
        entityId
        id
      }
    }
  }
}

fragment helpersMassageToNewsletterItemNewsletter on Newsletter {
  entityId
  name
  alternativeName
  description {
    text
  }
  summary {
    text
  }
  homepageDescription {
    text
  }
}

fragment helpersSanitizeArticleTypeEntityIdsArticle on Article {
  types {
    value {
      entityId
      id
    }
  }
}

fragment helpersSanitizeAuthorTypesArticle on Article {
  authors {
    types
    id
  }
}

fragment helpersSanitizedAuthorEntityIdsArticle on Article {
  authors {
    entityId
    id
  }
}

fragment helpersSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersStyleSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersUseContentSponsorContent on Content {
  __isContent: __typename
  topics {
    entityId
    sponsor {
      ...sponsorTagSponsor
      name
      type
      id
    }
    id
  }
  ... on Article {
    sponsorType
  }
  ...helpersCheckIsMainTopicContent
}

fragment hooksArticleDateUtilsContent on Content {
  __isContent: __typename
  createdDate
  publishedDate
  updatedDate
}

fragment hooksArticleSeoArticle on Article {
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...hooksContentHeadlineTagContent
  ...helpersCheckIsAmpEnabledArticle
  entityId
  headline
  socialHeadline
  types {
    value {
      entityId
      id
    }
  }
  authors {
    entityId
    id
  }
  images {
    generic_og: style(filter: {style: "og_image_scmp_generic"}) {
      url
    }
    styles(filter: {styles: ["og_image_posties_article", "og_postmag", "og_image_style", "og_image_scmp_analysis", "og_image_scmp_explainer", "og_image_scmp_editorial", "og_image_scmp_fact_check", "og_image_scmp_debate", "og_image_scmp_live", "og_image_scmp_obituary", "og_image_scmp_opinion", "og_image_scmp_review", "og_image_scmp_series", "og_image_scmp_generic"]}) {
      url
      style
    }
    type
  }
  urlAlias
}

fragment hooksContentHeadlineTagContent on Content {
  __isContent: __typename
  __typename
  ... on Article {
    types {
      value {
        name
        entityId
        description {
          text
        }
        id
      }
    }
    ...helpersCheckIsStyleArticle
  }
  flag
  sections {
    value {
      name
      id
    }
  }
  ...hooksContentHelperContent
}

fragment hooksContentHelperContent on Content {
  __isContent: __typename
  ...helpersSanitizeArticleTypeEntityIdsArticle
  ...helpersSanitizeAuthorTypesArticle
  ...helpersSanitizedAuthorEntityIdsArticle
  flag
}

fragment hooksPaywallPromiseContent on Content {
  __isContent: __typename
  entityId
  ...helpersCheckIsPostiesArticle
}

fragment hooksTrackPageViewArticle on Article {
  entityId
  publishedDate
  headline
  sections {
    value {
      name
      id
    }
  }
  urlAlias
  authors {
    name
    id
  }
  entityUuid
}

fragment imageContent on Content {
  __isContent: __typename
  headline
  ...checkersCheckContentContainsStarlingImageContent
}

fragment inlineWidgetContent on Content {
  __isContent: __typename
  ...contentNewsletterWidgetContent
}

fragment mainImagePrintArticleArticle on Article {
  images {
    title
    url
    isSlideshow
    size_652x446: style(filter: {style: "652x446"}) {
      url
    }
  }
}

fragment photoGalleryDialogContent on Content {
  __isContent: __typename
  __typename
  ...contentShareWidgetContent
}

fragment photoGalleryWidgetContent on Content {
  __isContent: __typename
  ...photoGalleryDialogContent
}

fragment scmpYoutubeContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  publishedDate
}

fragment sponsorTagSponsor on Sponsor {
  name
  type
  images {
    url
  }
}


sections

types

disableOffPlatformContent

sponsorType

published

headline

socialHeadline

authors

images

publishedDate

updatedDate

summary

subHeadline

keywords

topics

readingTime

authorLocations

entityUuid

Alex Baker

Demand for investment planners is soaring on economic growth, and banks are hiring the majority of new blood

Demand for qualified investment advisers has continued to soar on the back of wealth generated from recent years of steady economic growth, and banks  are soaking up the lion's share of the new financial planners coming into the market, official figures suggest.

The total number of licencees registered with the Securities and Futures Commission (SFC)  grew  by 4,489 during the 12 months of 2006 to reach 34,919.

Another 25,000 were employed by authorised institutions regulated by the city's central bank - essentially banks and smaller lenders, according to  Hong Kong Monetary Authority (HKMA) figures for last month.

HSBC employed more than 4,200 registered investment advisers, while Bank of China (Hong Kong) was not far behind  with some 3,600; Hang Seng Bank  employed 2,545;  Bank of East Asia 1,182;  DBS Bank (Hong Kong) 1,009; Nanyang Commercial Bank 871; Standard Chartered 709, and Citibank 542.

In their annual reports, Hong Kong banks  revealed a growing contribution to profits from their wealth management divisions. Demand for advisers to distribute bank products has also boomed.

Human resources consultancy Hudson said in its latest job market report: 'The banking and financial services sector reports the highest expectations, with 61 per cent saying they will grow headcount, compared with 58 per cent in the first quarter. This quarter generally sees an increase in hiring activity, once bonuses have been paid in the first quarter and staff feel free to change jobs.'

Another 38 per cent of banking and professional services respondents  said they expected headcount to remain steady, while  1 per cent believed it would decrease. In the second quarter of 2007, firms expected 36 per cent of total recruitment forecasted to be from sales positions, with banking front office roles expected to be the main driver for this growth.  Banking operations, middle office and accounting and finance roles were  expected to account for another 21 per cent of new jobs, the report stated.

The report said: 'Part of this demand is driven by the growth in Hong Kong's hedge fund market. New hedge funds are opening and existing funds are expanding, increasing demand for sales and support staff.'

In its second quarter outlook report for Hong Kong jobs, employment specialist Manpower International polled a continuing bullish mood among employers, with  respondents reporting that they expected their workforce to expand during the quarter  from 20 per cent to 26 per cent. Just 2 per cent forecast a decline in headcount.

The finance sector reported the highest increase in manpower requirements.

'Without seasonal adjustments, employers in the finance, insurance and real estate industry report a favourable net employment outlook of 33 per cent,' noted the survey. 'This represents a considerable increase of 15 percentage points quarter over quarter.'

But early signs that the explosive growth rate in employment might be slowing, have also emerged in the latest Manpower survey,  which noted that while the quarter-on-quarter growth represented a resurgence of demand, recruitment intentions were one percentage point weaker than the same quarter last year.

A Securities and Futures Commission  survey on investment advisers last year  showed that most retail investors who used the services of investment advisers dealt with in-house advice offered by their banks.

The survey, conducted by the Centre for Corporate Governance and Financial Policy of  Baptist University on behalf of the SFC,  ran from November 2005 to last April.

The aim was to explore retail investors' considerations in choosing investment advisers (IAs).

'Based on the IA that investors dealt with most recently during the last two years, 64 per cent dealt with personal financial advisers or planners of banks,' it reported; while 25 per cent dealt with SFC-licensed persons and the remainder (11 per cent), dealt with insurance agents/brokers.

In selecting an IA firm, the top three factors considered were: reputation (79 per cent); service quality (66 per cent); and whether the firm was SFC-licensed or not (64 per cent).

Advisers who take the alternate (non-bank) route, must be licensed by the SFC, and examinations leading to an SFC licence are set by the Hong Kong Securities Institute  (HKSI) - a professional body formed to raise the standards of securities and finance practitioners in Hong Kong.

HKSI chief executive Gary Cheung Wai-kwok said  the number of non-bank qualified investment advisers being licensed annually to operate in the Hong Kong market was  growing at a rate of about 10 per cent a year - more than twice the average rate of employment growth.

Mr Cheung said Hong Kong's status as an international financial centre was ensured by the globally-recognised standards of the  personnel in the sector.

Surveys have shown that Hong Kong has more than 3,000 Chartered Financial Analysts  -  an increase from just 200 in 1995 - and which makes the pool of CFA talent in the city the fourth-largest in the world.

Hong Kong is also ranked first in Asia in terms of the ratio of Certified Financial Planners to the population, and the number of Certified Public Accountants has grown from about 11,500 in 1995 to more than 25,000 today, while that of qualified actuaries has almost tripled over the same period.

In addition more than 5,000 solicitors and about 1,000 barristers are now practising in Hong Kong.

'Hong Kong is an international financial centre and this is made possible by the high quality of its intermediaries,' said Mr Cheung.

'Hong Kong operates as an open market and we do not set restrictions on where qualifications and expertise is obtained. So in the case of people with overseas experience, a competency test is applied and they can then be licensed based on their industry qualifications.

'We have a very good regulatory and supervisory system - under the administration of the SFC, the HKMA and the Insurance Council - and also a sound legal framework, which means that we are very much on par with our counterparts elsewhere in the world,' he said.

This is the second in our series of articles tracking this year's SCMP/IFPHK Financial Planner Awards, a competition between professional financial planners from the banking, insurance and independent financial advisory sectors, which concludes in October. Check this space regularly for the latest updates.

It's official

The total number of investment advisers employed by authorised institutions regulated by the Hong Kong Monetary Authority, the city's de facto central bank 25,000



Qualified advisers are hot property

Hong Kong Monetary Authority (HKMA)