Launched in 2007, the Outstanding Financial Management Planner Awards (Mainland China) (OFMP) are co-organised by the HKIB, China Banking Association and Financial News to recognise practitioners who excel in the financial planning and wealth management profession. Amidst increasing awareness of the importance of financial planning and wealth management, the HKIB strives to enhance the competency and integrity of financial planners and wealth management practitioners in mainland China through this Awards programme.
Eligibility & Application
The Awards are open to financial/wealth management planning practitioners in the banking and financial services sectors in mainland China. Applicants shall be aged 18 or above with endorsements from current employer. Please download and read OFMP (Mainland China) Leaflet for further details of the call for entries.
Applicants can choose to enter one of the following categories, based on their years of work experience and the nature of their practice:
Applicants are required to submit written financial plans in Round 1 and Round 2. Shortlisted applicants are required orally present their plans to judges in the Final Round.
Timeline
| Date |
Detail |
|
15/01/2020
|
The 11th Outstanding Financial Management Planner Awards (Mainland China) - Open for Applications
|
|
28/02/2020
|
The 11th Outstanding Financial Management Planner Awards (Mainland China) - Application Deadline
|
|
03/04/2020
|
The 11th Outstanding Financial Management Planner Awards (Mainland China) - Submission Deadline for Round 1: Written Financial Plan
|
|
29/05/2020
|
The 11th Outstanding Financial Management Planner Awards (Mainland China) - Round 1: Results Announcement
|
|
17/07/2020
|
The 11th Outstanding Financial Management Planner Awards (Mainland China) - Submission Deadline for Round 2: Written Financial Plan
|
|
11/09/2020
|
The 11th Outstanding Financial Management Planner Awards (Mainland China) - Round 2: Results Announcement
|
|
23/10/2020
(TBC)
|
The 11th Outstanding Financial Management Planner Awards (Mainland China) - Final Round: Oral Presentations
|
|
11/2020
(TBC)
|
The 11th Outstanding Financial Management Planner Awards (Mainland China) - Presentation Ceremony & Dinner
|
Judging Criteria
| Item |
Weighting |
Trust Establishment
- Undergoing a meaningful due diligence process for the purpose of understanding the person
- Build trust with customers
|
10% |
Understanding Objectives
- Understand purpose of life and event planning for different life stages and challenges facing family situations
- Determine customer''s current wealth stage – creation, accumulation, protection or distribution
|
20% |
Undergoing Financial Assessment
- Collect financial and personal data e.g. income and expenses, assets and liabilities
- Net worth and cashflow analysis, current and future inflows and outflows of capital
- Current asset and liabilities vs future ones such as tax and estate liabilities
- Evaluate and identify current and future financial gaps
|
30% |
Structuring Financial Plan
- Formulate personal financial strategy and propose solutions and alternatives
- Clearly explain potential risk to customers
- Financial plan has to be easy to understand and clear
|
30% |
Timely implementation and Expectation Management
- Develop a detailed action plan checklist and a detailed review schedule as per the strategy and the purpose of each review and anticipated actions
- Develop a mechanism to facilitate communications with the customer in the long run
|
10% |
Assessment Process
| Stage |
Details |
| Round 1 |
Participants submit written financial plan |
| Round 2 |
Participants submit written financial plan |
| Final Round |
Oral Presentations to judges |
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