Jointly organised by:
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 through this highly recognised Awards programme. Launched in 2006, the Awards recognise individuals who excel in the financial planning and wealth management profession.
Eligibility & Application
The Awards are open to financial planning practitioners in the banking and financial services sectors in Hong Kong and Macao. Applicants can choose to enter one of the following categories, based on their years of work experience and the nature of their practice:
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Each applicant is required to submit a written financial plan, either in English or Chinese, and orally present the plan to the judges. The applicant's current employer must endorse the plan prior to submission. Applicants may write the financial plan in one language and orally present it in another.
Timeline
| Date* |
Detail |
| 30/05/2024 |
Information Session |
| 05/07/2024 |
Early Bird Offer Close |
| 19/07/2024 |
Registration Deadline |
23/07/2024 AM or
25/07/2024 AM |
Training - Module I - Foundation Training (3 hours) |
23/07/2024 PM or
26/07/2024 PM |
Training - Module II - Best Practice Training (3.5 hours) |
31/07/2024 AM or
31/07/2024 PM |
Training - Module (III) Practical & Soft Skills Training (3.5 hours) |
| 02/09/2024 |
Written Financial Plan Submissions Deadline |
| 27/09/2024 6:00pm |
Round 1 - Results Announcement |
23/10/2024 -
24/10/2024 |
Round 2 - Closed Door Oral Presentation |
| 31/10/2024 6:00pm |
Round 2 - Results Announcement |
| 18/11/2024 |
Final Round - Closed Door Oral Presentation |
| 25/02/2025 |
Awards Presentation Ceremony |
For enquiries, please contact:
ofmp-awards@hkib.org or (852) 2153 7800
Awards
| |
|
No. of Awards |
| Round 1 |
Certificate of Merit |
TBC |
| Round 2 |
Silver and Bronze Awards
Best Presentation Awards
Best Financial Planning Proposal Awards |
21
3
3 |
| Final Round |
Grand and Gold Awards
Top Nominations Award |
9
TBC |
Judging Criteria (for Round 1)
| Trust Establishment (10%) |
- Undergoing a meaningful due diligence process on Knowing Your Customer (KYC) for the purpose of understanding the person
- Scrutinise the source of fund and wealth to confirm the trustworthiness of the customer
- Conduct an efficient and practical risk profiling that measures the actuality of risk tolerance vs risk perception
- Gather and build a mutual sense of investment and decision responsibility
|
| Recognising Financial Needs and Life Goal Analysis (20%) |
- Understand purpose of life and event planning for different life stages and challenges facing family situations
- Collect financial and personal data e.g. income and expenses, assets and liabilities, insurance coverage and retirement benefits
- Determine customer''s current wealth stage – creation, accumulation, protection or distribution
|
| Undergoing Financial Assessment (25%) |
- Conduct reality checks on future goals vs current financial and human capital
- 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
- Assess the effectiveness of the customer''s current portfolio and investment allocation
- Formulate a personal financial strategy and propose solution and alternatives
|
| Structuring Financial Plan (35%) |
- The concurrence of the proposed strategy built on the pillars of investment planning, protection planning, estate and succession planning and philanthropic planning
- Recommend the most suitable insurance and protection products to meet various goals for the customers and his/ her family
- Recommend the most suitable savings strategy and products to bridge or close the gaps for retirement, healthcare, and other life goals
- Recommend the most suitable investment products and asset allocation strategy to reposition existing assets taking into account of risk management, domicile, time-horizon of goals and objectives, and regulatory requirements
- Build an effective Investment Policy Statement (IPS) as a guideline for investment decisions and to manage the customer''s expectations over time
|
| Timely implementation and Expectation Management (10%) |
- Develop a detailed action plan checklist and a detailed review schedule as per the strategy and the purpose of each review and anticipated actions
- Review the status of the customer's goals and the impact on the agreed plan and solutions
- Examine the deviation from the IPS and the changes of risk parameter over time
- Demonstrate the portfolio review mechanism
- Describe a mechanism that cross-checks that customer's level of satisfaction
|
Assessment Process
| Stage |
Details |
| Round 1: Written Financial Plan |
Participants submit written financial plan based on hypothetical cases provided |
| Round 2: Closed Door Presentation |
Participants are invited to orally present their written financial plans to judges |
| Final Round: Best of the Best |
Select Grand/ Gold/ Top Nominations Awards |
Registration For the 17th HKIB OFMP Awards:
All 3 of the above steps must be completed by registration deadline of 19 July 2024 (Friday).
Note:
- Both Front and Back side (if applicable) copies of the business card must be submitted, with the file format: BC_[Surname][Given name].pdf (e.g. BC_CHAN David.pdf)
- The photo should be in JPEG format in business attire, with plain white background and minimum 300 dpi resolution, in the file format: Photo_[Surname][Given name].pdf (e.g. Photo_CHAN David.jpg). The photo will be used on HKIB OFMP Awards related publications whenever applicable.
Payment Method:
-
Faster Payment System (FPS)* Account: account@hkib.org
-
Remittance
Payee Name: The Hong Kong Institute of Bankers
Bank: The Bank of East Asia, Limited
Bank Account: 514-40-54155-9 (HKD)
Address: 10 Des Voeux Road, Central, Hong Kong
Swift Code: BEASHKHH
3.e-Cheque*:
Payee Name: The Hong Kong Institute of Bankers
Please quote the invoice number when making payment.
*For e-Cheque / FPS, please state your full name and "The 17th OFMP Awards Registration Fee" under "remarks (e-cheque) or "Message to Payee/Recipient" (FPS) and email together with the completed Registration Form to ofmp-awards@hkib.org.
For registration enquiries, please contact us at:
- ofmp-awards@hkib.org /(852 2153 7800)
