Posted by
pharaoh
11 yrs ago
Hello everyone, I was wondering who is using a good investment broker? I know that HSBC always hounds me down telling me to invest but I fell like all they want is my money and they try to make it sound like I don't have a say in what's going on.
I went to a company called Forth Capital lately and they seemed to be quite nice and open to sharing idea and listening to what I actually need. I haven't signed any forms yet or gave them any money but would like to hear about peoples experiences in HK with this.
Cheers
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I've just PM'd you, cheers.
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Pharaoh,
If you like Forth Capital then I suggest you see what they suggest you do with your money before you sign or commit to anything.
Then go find another investment broker and see what they suggest and do a comparison.
You may find a good investment broker but it also depends on their product range. I recommend you read this thread: http://hongkong.asiaxpat.com/forums/business-finance/threads/136029/is-there-a-good-or-bad-time-to-start-regular-investments-in-funds?/
And feel free to post questions you have after meeting your prospective investment advisors.
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Topol
11 yrs ago
TBH, I have never found any decent investment brokers, their main concern seems to push products that will produce commission for them rather than suggesting products that are suitable for the customer. SCMP is currently doing an mystery shopper exercise whereby a reporter posing as potential customer gets investment advice from banks which is worth a read.
I have decided to do all my investments myself - and have found it an enlightening experience. Many products are overly complicated (attracting big fees) when in fact can be sourced and purchased just as easily yourself (insurance, assurance etc). In terms of pensions and long term investments again i do this myself - as i know my financial situation, risk profile, etc better than anyone. If you decide on this route, education is the key there are plenty of resources (probably too much) available. I'd be happy to share some of experiences if you think it would be useful
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Hello, apologies if this is be slightly off-topic. Can anyone recommend a broker who can advise/ deal with old paper shares? My Father-In-Law was an early buyer in Discovery Bay (in the 1980s) and received a number of shares in the company that owned DB then. After moving to France recently he re-discovered the shares and is trying to find a way of valuing/ realising their worth.
I figure the best way to do this is via a broker. Any advice gratefully received. Thanks!
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Hi There
My name is Varun. I work in Convoy Financial Services (Sheung Wan). It is the biggest Independent Financial Advisory (IFA) in Hong Kong.
As an IFA, Convoy is not limited to representing any bank or company. Rather they approach us to sell their products. So we provide unbias advise to our clients and truly help determine the right products for our clients.
I personally deal with international workers and expats in the areas of
1. Savings: (Financial Planning Short/Long Term Goals)
2. Retirement: (Emergency Funds, MPF etc)
3. Protection Planning (Life insurance, CIC, medical insuranc)
4. Investments (Derivatives, Property, Single Market, Regional Investment, Global Investments)
Also unlike most banks and companies we can meet our clients at their time and location of convenience, free of charge.
Please message me your contact details and I shall get back in touch with you ASAP.
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Topol
11 yrs ago
"Free of charge". How do you get paid then?
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Our advise to you is free. As the biggest IFA (individual financial advisor), Convoy, we have lots of marketing event, eg TVB advertising, LION rock tunnel, Shing Mun tunnel, Road show etc, also have our advertisement. Offering client a free consultation is a kind of HK marketing event in our company.
Our salary is provided by the service provider, but not from customers.(The same way as other companies such as AIA, Manulife etc)
It is because we were an IFA (independent financial advisory) most companies approach us to recommend their products, this means we have a much larger range for our customers to choose from in order to fit their needs.
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HKLEV
11 yrs ago
So basically you will earn more if you recommend products of companies who pay you more. It is not inconceivable that your 'right' product is the one that is 'right' for you, not right for the customer. Do you disclose all your fees?
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My advice would be to shop around until you're comfortable and get to know more about what you're actually looking for. Very few financial advisers in this town are 100% independent - it's the nature of the business model. Most are effectively simply middlemen that link the provider with the consumer. That's not to say they are unscrupulous but there can be obvious conflicts of interest when the advice and sales functions are one and the same. So high margin, longer-dated products work well for them.
I agree with one of the earlier comments in relation to self education. Don't entirely dismiss IFAs out of hand, as they may give you access to some decent products, but it should be more about casting a critical eye over your finances without abdicating full responsibility for your future to an adviser, particularly as you know what works for you emotionally and intellectually far better than an adviser could.
I run a financial coaching company, aimed at articulating your bigger picture/life goals and aligning it with your financial education and money management. It's not sales or advice - it's about increasing an individual's awareness in themselves and finance in general.
If you want to know more, let me know.
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I have been in the investment/insurance industry for years, and realized the same problems. That' why I started a new investment and insurance brokerage firm here in Hong Kong, to provide real independent financial advice. As a Canadian CA/ CPA, the way things are done in Canada is much more transparent and independent, so I'm bring that model here to Hong Kong. For example, I have already calculated that if you want to buy a critical illness insurance plan, the best value in the HK marketplace today is via SunLife or AXA. And I prove that to my clients on a daily basis, which they appreciate. Same goes with all products we have on our shelf. Let me know if anyone is interested in talking further. You can check out our website - www.groveland.com.hk, or send me a private message if you want to chat more. - Brandon
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