2017 Best Financial Planner
Objective
With longer life expectancy and tightened government expenditure on social welfare, Financial Planning and Wealth Management are becoming more crucial to the livelihood of Hong Kong citizens. Thus, The Life Underwriters Association of Hong Kong & Hong Kong Economic Times organize the Best Financial Planner (BFP) Award to honor and recognize Hong Kong's most outstanding financial planners for their professionalism and dedication in serving the needs of their clients.
Eligibility
Each participating insurance company may nominate financial planners who provide financial advices to their clients as part of their services. Financial planners who possess the following requirements are eligible to apply:
- lCurrent member of LUAHK (2017)
- lFinancial Planners of Participating Companies
- lFYC HK$120,000 or above for the production year of 2016
Requirement
Each applicant is required to submit 3 copies of his/her financial plan (REAL CASE) in written directly to LUAHK. Only Financial Planners of participating companies are eligible to join. All financial plans shall reach LUAHK office no later than 1700 hours of 2 June 2017. There is no limit on the number of applications of each participating company. However, each applicant shall submit ONE financial plan only. Late submission, no matter whatever reason, shall not be accepted.
Theme of the Year
劃出您想人生
Application Fee
HK$550 for each participant (Early Bird HK$450, on or before 28 April 2017)
Assessment
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First Round |
Applicants are required to submit a written financial plan (3 copies). Applicants who meet our minimum requirements will be awarded as Best Financial Planner (BFP) Qualifiers. Top 2 Best Financial Planners (BFP) Qualifiers of each company will enter the final round for Gold and Silver award competition. And the second-runner up, 4th and 5th winner will be awarded as Best Financial Planner – Merit. |
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Final Round |
Financial Planners that entered the final round will give an oral presentation of their submitted financial plans and attend an interview with panel of judges. Financial planner with the highest score of each participating company will be awarded as Best Financial Planner - Gold Award and the first-runner up will be awarded as Best Financial Planners – Silver Award. Best Financial Planner – Gold Award with the highest score will be awarded as 2016 LUA Best Financial Planner (LUA BFP). |
Assessment Criteria
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Criteria |
Weighting |
Assessment |
|
Information Disclosure |
10% |
To provide sufficient financial and market information relevant to the client’s requirement by the planner. |
|
Recognize Financial Goals |
15% |
To prove the understanding of the client’s current and future financial goals regarding the financial needs respectively. To assess whether the planner has explained the risks that may arise in the plan. |
|
Understand Financial Status |
20% |
To assess how the analysis of the current situation (e.g. financial condition and investment experience) of the client meet the client’s goals. |
|
Recommendation |
25% |
To evaluate whether the proposed solutions best suit the client’s needs. |
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Suitability of Advice |
10% |
To provide a tailor-made solution to the client in accordance to our theme, code of ethics, proper procedures, fairness, and successful presentation of the comparative advantages of the proposed solutions over the next best choices possible. To demonstrate both logical reasoning as well as emotional thrust of committing the recommended solutions as soon as it needs to be. |
|
Structure Financial Plan |
10% |
To evaluate how the planner foresees hidden financial needs according to different stages of life cycle. To demonstrate high degree of understanding of the client's goals and propose suitable financial plan to meet the goals of the clients referred to the financial gap analysis, market research information and regulatory environment. To assess the client’s understanding of the financial plan and the risks that may arise in the plan. |
|
Judges’ Discretion |
10% |
To measure the overall presentation of the financial plan. |
Presentation
All top 2 Best Financial planners of each sponsoring company will be invited to attend the final round with presentation in front of a panel of judges. 2017 LUA Best Financial Planner (LUA BFP) may be invited to give presentation at LUA Conferment cum BFPA Presentation Ceremony and 4 VIP Admission Tickets to LUA Conference.
Awards
|
Round |
Name of Award |
Awards |
No. of Awards |
|
1st Round
|
2016 BFP Qualifier |
Certificate of Merit; Name to be posted on local newspaper |
All BFP Qualifiers |
|
2016 BFP –Merit |
Certificate of Merit; Name & Photo to be posted on local newspaper |
A maximum of Three awards of each participating company |
|
|
Final Round
|
2016 BFP – Silver Award |
Trophy; Photo to be posted on local newspaper; Award presentation at LUA Conferment |
One award of each participating company |
|
2016 BFP – Gold Award |
Trophy; Photo to be posted on Bus body and personal interview video; Award presentation at LUA Conferment |
One award of each participating company |
|
|
2016 LUA BFP |
LUA Conferment cum BFPA Presentation Ceremony Speaker and 4 VIP Admission Tickets to LUA Conference |
One award |
Timeline
|
28 Feb 2017 |
Deadline – Participating Insurance Company |
|
2 June 2017 |
Deadline - Application Form and Financial Plan Submission |
|
19 June 2017 |
1st Round - Announcement of Best Financial Planner (BFP) Qualifiers |
|
3 July 2017 |
Announcement of Best Financial Planner - Merit of each insurance company (Top 5 Best Financial Planners (BFP) Qualifiers of each insurance company) |
|
12 July 2017 |
Final Round - Oral Presentation of Best Financial Planners (BFP) in front of Panel of Judges |
|
21 July 2017 |
Announcement of LUA Best Financial Planner (LUA BFP), Best Financial Planner – Gold and Silver Awards. |
|
Oct 2017 (Tentative) |
Award Presentation Ceremony |
Format
- All financial plans submitted should be a “REAL CASE” in English or Chinese, typed format(MS Word), between 10~20 pages in A4 size, not including appendices. Use “Times New Roman” font for English & 細明體 for Chinese, font size “12” and single-line spacing. Binding is needed for submission.
- All professional rules of conduct, such as client confidentiality, intellectual property, must be observed. Entries that violate this rule will be disqualified.
- All entries must not mention client or company name anywhere in the financial plan.
- In case of plagiarism, wrong format and incompletion of financial plan, etc, entries will be disqualified.
- All financial plans submitted would become the property of The Life Underwriters Association of Hong Kong Ltd.
- No restriction on the powerpoint presentation is set.
Panel of Judges
|
First Round |
BFP Award Organizing Committee |
|
Final Round |
University scholars, Financial Experts & / or Government officials |
How to Enter?
Participating company shall confirm participation as sponsor on or before 28 February 2017. Financial Planners shall then submit an application form together with 3 copies of his/her financial plan either in person or by mail to LUAHK. All applications & financial plans shall reach LUAHK office on or before 17:00 of 2 June 2017. No late submission will be accepted.
In Case of any dispute, LUAHK shall reserve the rights of final decision. LUAHK also shall reserve the right to amend, cancel and interpret the above rules and regulations without prior notice.
The Life Underwriters Association of Hong Kong Ltd.
Units A-D, 23/F, Seabright Plaza, 9-23 Shell Street,
North Point, Hong Kong.
Tel : 2570 2256 Fax : 2570 1525
Email : This email address is being protected from spambots. You need JavaScript enabled to view it.
Website : www.luahk.org
Leaflet & Application Form
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