Hong Kong, October 20, 2005 – SCMP/IFPHK Financial Planner Awards 2005, the first of its kind in the region, today acknowledged the top performing financial planners from the banking, insurance, and the independent financial advisory industry sectors. The award was co-organised by the South China Morning Post (SCMP) and Institute of Financial Planners of Hong Kong (IFPHK).
Three industry winners were Mr. Man Kit, Albert (banking), Mr. Ho Ka Kei (insurance) and Mr. Lo Kam Cheung, Enoch (independent financial advisory). The Award of the Year 2005 went to Mr. Lo Kam Cheung, Enoch.
Executive Director of Securities and Futures Commission Mrs. Alexa Lam was the guest of honour at the Awards presentation ceremony and delivered a speech on industry related topics.
Business Editor of SCMP, Mr. Simon Pritchard said, “Hong Kong had no objective standard for measuring financial planning contributing to an under-developed industry without firm standards. This reflected a very traditional approach to wealth management emphasising simple stock, cash and property investing. However, in recent years the wider acceptance of managed saving products has increased the need for high quality, objectively-based, advice. For this reason the South China Morning Post feels proud to be associated with these awards which have the capability to significantly change industry practice and adviser behaviour.”
“The SCMP/IFPHK Financial Planner Awards forms a crucial part of our efforts to heighten the level of professionalism in Hong Kong, while raising the public profile of the financial planning community. With its focus on financial planning excellence and standards, the Award will no doubt set a benchmark for the whole industry to follow,” said Ms Angeline Chin, Chief Executive Officer of IFPHK.
The award competition, which commenced on May 5, 2005, attracted over 110 contestants submitting their entries. The contestants were divided based on their industry and experience. Each contestant was asked to provide an actual written financial plan. Contestants, who successfully entered the second round, were required to give oral presentation in the finals. Assessment criteria included presentation and communication skills, understanding of client’s situation, and identification of client’s needs with appropriate recommendations.
ABOUT SOUTH CHINA MORNING POST
The South China Morning Post is Asia’s premier English language daily with the highest circulation of any English language newspaper in Hong Kong. With 100 years of history, the South China Morning Post is widely read by affluent and well-educated decision makers, managers and executives in Hong Kong. According to the AC Nielsen 2004 Media Index Report, it has 96% of the English language newspaper readership in Hong Kong. It is also the market leader in display and recruitment advertising in Hong Kong. Its subscription-based Internet edition, SCMP.com offers global access to the editorial content of the newspaper, breaking news updates throughout the day, e-newsletters and news on PDA.
The South China Morning Post receives constant recognition for its editorial and technical capability. Awards recently won included two excellence technical awards in PANPA Awards 2005, six awards in 10th Annual Human Rights Press Awards, five excellence editorial awards in SOPA 2005, two design awards in the IFRA 2005, two design awards from 26th Best of Newspaper Design Competition, and Hong Kong News Awards 2004 including for Best News Writing and Best Business News Writing.
South China Morning Post Publishers Limited is a wholly-owned subsidiary of SCMP Group Limited. SCMP Group is listed on The Stock Exchange of Hong Kong Limited.
IFPHK was established in June 2000 as a non-profit organisation to develop and maintain the high professional standards and self-discipline for providers of financial planning services in Hong Kong. The Institute is authorised by the Financial Planning Standards Board Ltd. (FPSB) to be the sole licensing body in Hong Kong and Macau that grants the highly-regarded and internationally-recognised CERTIFIED FINANCIAL PLANNERCM certification to qualified financial planning professionals.
It represents the financial planning practitioners in Hong Kong with close to 5,500 members from such diverse professional backgrounds as banking, insurance, investment, stockbroking, accounting, and legal services.
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