Good financial planning firm recommendations?

[tapxe]

Hi, I'm trying to find a good, trustworthy firm that offers financial planning services to individuals. I am new to this and would like some tips and advice before I choose one. I am somewhat turned off at the idea of paying a large fee upfront for a "life plan". I am more interested in paying someone to pick investments. I don't want to sign a long term agreement, I may decide to stay long term but my position may change in a year if I decide to buy property for example. I also don't want them to constantly change investments so they can get their transaction fee. Maybe I'm asking a lot but can anyone recommend me some companies in Hong Kong?
Thanks,

[MovingIn07]

I don't know any companies but I know an individual who does this - although he mostly works with locals. From what I know he has a small client base who have been with him for years which probably means he knows his stuff. PM me if interested. He's a friend, so I'll only put you in touch if you are serious.

[PDLM]

I've had the misfortune to have interacted with quite a few such firms here and I have come to the conclusion (at some cost) that there's no such thing as a "good financial planning firm" if by "good" you mean acting in anyone's interests except their own.

My advice would be to educate yourself and make your own investments. It is pretty easy to do these days.

[Raccon]

I've had the misfortune to have interacted with quite a few such firms here and I have come to the conclusion (at some cost) that there's no such thing as a "good financial planning firm" if by "good" you mean acting in anyone's interests except their own.

My advice would be to educate yourself and make your own investments. It is pretty easy to do these days.

Seconded.

Even you employ a financial planner you HAVE to make sure you know what he is recommending/suggesting, and why. And ask about any fees, including hidden ones.
If you think you can just leave your money to that person and not care you may just throw it away.

[freeier]

hahaa.. the title is an oxymoron..

read more. there are tonnes of literature out there. from the extreme left to the extreme right with some free market advocate and some idiots in between..

nobody is always correct.. so take your pick and be happy with what u choose

[tapxe]

Thanks, If I decide to do this on my own (I do manage my own MPF already which has done great, although right now its a no brainer), how can I do this? Are individuals able to just open their own Fidelity account for example. What would people recommend for doing this on your own. Thanks a lot.

[PDLM]

Just invest in stocks and bonds and so on through your bank. Many banks have very straightforward online trading. I happen to use HSBC just because I like the convenience of being able to move money around, but there are many other choices, some of which would be a little cheaper in terms of fees (which isn't significant if you're investing large sums, but if you're investing in smaller chunks then the fees can become an issue).

[bak875]

Yes you can open your own Fidelity account. Pretty straight forward. They have seminars from time to time that you can attend and discuss with the Fund Manager.

Their fee structure was something like 1.5 to 3% - can't recall.

But I do remember that I made 200% on my investment from the height of the financial crisis (late 2008 early 2009) till last month - when I cashed out.

[leepy]

Hi, I'm trying to find a good, trustworthy firm that offers financial planning services to individuals. I am new to this and would like some tips and advice before I choose one. I am somewhat turned off at the idea of paying a large fee upfront for a "life plan". I am more interested in paying someone to pick investments. I don't want to sign a long term agreement, I may decide to stay long term but my position may change in a year if I decide to buy property for example. I also don't want them to constantly change investments so they can get their transaction fee. Maybe I'm asking a lot but can anyone recommend me some companies in Hong Kong?
Thanks,

Hi,

I am an Independent Financial Adviser. I know that some people have had bad experiences and it is one of the unfortunate aspects of our industry due to the fact that the regulation is very lax. However, I have clients that I have been working with for a few years now and I take a look at their circumstances, research the market and we decide on an investment platform together. Many of my clients are Traders/Quants and have an idea of where they like to invest and we carry out the analysis together.

My job as an intermediary/advisor/broker is to research all the products out there and break the fees down for my clients.

Also the products that I tend to recommend are very flexible and liquid. I make money the better the clients portfolio performs and the longer the client maintains the investment. Therefore, both my interests and the clients interests are aligned.
As you rightly state, if an advisor is paid their commission upfront then the likelihood of them monitoring your portfolio or seeing you again becomes unlikely.

People often ask why they need to use an advisor. The main reason people use advisors is as follows:
1) Clients often don't have enough time to keep an eye on their stock trading or ETF's. They may gain at times but also make losses because they are busy with work and life
2) Most of our platforms offer institutional discounts and it is often more cost effective then even going through directly to banks or providers.
3) I monitor my clients investments on a regular basis and we sit down together at quarterly review meetings to see if we are achieving the desired target returns

I would love to meet with you and discuss some ideas. There is no obligation on your part. It is just an exchange of ideas and I hope that I will be able to show you that I am a very different advisor.

Please PM me, and we can arrange a meeting