Personal Financial Advisors in HK?

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  1. #1

    Join Date
    Oct 2007
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    Personal Financial Advisors in HK?

    I'm wondering what the situation is here in terms of demand for, and regulation of, personal financial advisors? (I didn't have a great deal of luck finding detailed info w/search engines)

    In the states, there are exams for registered reps and principals, is there a similar standard here?

    I'm also curious as to whether or not there are cultural differences? For example, maybe culturally people are more/less likely to discuss their financial situation with a stranger? I'd supect this might be more, as it seems like half the discussions I have with people here have consisted of them asking me how much I paid for something, or telling me how much this or that cost them.


  2. #2

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    i am finding out being a US citizen sucks for investing over here.
    As what i am told...there are very few advisors, and even fewer who are willing to help americans due to complications with taxes and such.

    good luck in your search, and if you find one...let me know.


  3. #3

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    BenderBends, what are you talking about, Hong Kong is teeming with financial advisors, from the very high end (almost like private banks with their investment options and style) to the grubby unlicensed insurance salesmen and everything in between. I don't know about tax etc, sorry if you had a hard time BB... but sure a US citizen can invest here just like anyone else. Find an IFA who can set you up a nominee account to process all your HK investments and at least then you'll only have one box to fill in on the tax form.
    The SFC website has a complete list of licensed advisors. This page prob answers all gwai loh's questions... (great moniker BTW!)
    http://www.sfc.hk/sfc/html/EN/interm.../licensed.html
    And member companies of http://www.ifaa.com.hk/ are gonna give you good professional service. enjoy!
    *** short-term high risk investment tip of the day from high floor IFC2: "buy china calls and hold".


  4. #4

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    err.. BenderBends is quite right. unless you have millions of dollars else most IFAs and anyone else are not that keen to do business with you if you are an american.

    IFAs can't just sell you, they need to find a custody for your funds. and the custodians are not keen to undertake the taxation reporting for american. that's why most documents, offering, analyst reports, etc.etc. have disclaimer that they are not to be read by an American.