Hong Kong IFA explores regional expansion

Convoy sees lots of new millionaires and no one to advise them.

Hong Kong-based Convoy, an independent financial adviser, is exploring new business opportunities in China, Malaysia and Thailand. There are now more new millionaires in Asia than in the United States, but few qualified financial intermediaries, says Ernest Chang, the firm's executive director.

Convoy was established as a risk manager for insurance companies in 1992, but was perhaps too successful, and eventually found its services were no longer required. The Asian financial crisis brought an unexpected chance to resurrect the company as a financial adviser - by 1998, Hong Kongers had learned the hard way that property and stocks are not a good way to plan for the future.

Today the firm...

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