Where Asian financial advisors need to go

Personal touch: financial planning works best when focused on clients, not investments, says CEG.

Fund managers in Asia are keen to see the development of financial planning in order to grow the industry and put it on a stable footing, but financial advice remains too focused around pushing products. Does the cliché about listening to clients really work

Yes, says CEG Worldwide, a consultancy to the financial planning and investment industries - although to what extent its conclusions are applicable to Asia remains to be seen. Today banks, insurance companies, brokers and independent advisors all chant the mantra of financial planning but to the great majority of them, in practice this remains an alien concept. Indeed, it remains misunderstood even in developed markets.

Jim Stackpool,...

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