Managing Director’s Message


A message from the Managing Director


Dear Members,


It’s both a profound honour and a genuine pleasure to be at the helm of the PWMA as we continue to ramp up our activities and engagement across the industry and with our key stakeholders.

We are currently focused on executing several key initiatives to support our members and foster the ongoing development of the private wealth management industry in Hong Kong:  

  • Following up on feedback after an extensive study in 2017, PWMA has embarked on an initiative to push for improvements to the curriculum and examination structure of the Enhanced Competency Framework (ECF) Module 1, which focuses primarily on technical, industry and product knowledge. Towards that end, PWMA has been working closely with the Hong Kong Monetary Authority and the Hong Kong Securities and Investment Institute on revising the ECF, ensuring it aligns more closely with the competencies required for our front-line industry professionals to fulfil their responsibilities.
  • PWMA has taken the lead to follow up on the recommendations identified from the White Paper co-authored by PWMA and KPMG in September 2018, which aim at fulfilling Hong Kong’s potential as a global wealth management hub. PWMA has been in active discussions with key stakeholders, regulators and the government on implementing and executing the proposed recommendations, with a special focus on attracting family offices and opportunities in the Greater Bay Area.


In addition, we have continued to advance our efforts in several strategic areas: 

  • Regulatory issues: Through our regulatory committee, we are organising more roundtables, events and surveys to help members better understand the latest regulatory developments and the response of peers. We have been actively participating in regulatory consultations through the support of our regulatory committee and associate members, ensuring that our industry’s input and interests are given due consideration in the rule-making process.
  • Next generation:  As talent development is one of the most important priorities for our industry, we are organising activities appealing to the younger segments of our membership. Through our Next Generation Committee, we are hosting events that target high potential front-line bankers and have the younger professionals engage with industry veterans and network with their peers.
  • Fintech: With the rapid impact of new technologies that affect the evolution of the private wealth management industry, our Fintech Committee is working on initiatives to enable the industry to navigate the challenges of digital transformation. We are also organizing events (including in partnership with the FinTech Association of Hong Kong) where members can share insights on how to best make use of emerging technologies to build on the value proposition of private wealth management in the digital world.
  • Apprentices: The Pilot Apprenticeship Programme for Private Wealth Management, co-organised by the HKMA and PWMA, aims to nurture the talent pool and help introduce young talent in Hong Kong to “front-to-back” career opportunities in the private wealth management industry. The Pilot Apprenticeship Programme has placed more than 125 students in apprenticeship positions at PWMA member firms since its inauguration in 2017. Successful candidates are offered two rounds of paid summer internships with a host private wealth management institution, leading to a potential job offer with the host firm after graduation. Students entering the 2019-2020 cycle of the Programme begin their Apprenticeship in June, and soon we will be gearing up to recruit the fourth class of students for the 2020-2021 cycle of the Programme.
  • Ongoing training and developments: We continue to organise knowledge briefing sessions that help members stay current with key industry developments in areas ranging from financial products to enforcement trends. Members who are Certified Professional Wealth Practitioners can also earn OPT credit in the process.
  • Annual Summit: Our flagship event, the 4th Annual PWMA Wealth Management Summit scheduled for 8 October 2019, is a full-day activity with the theme of “Shaping the Future.” The Summit will examine the major trends expected to shape the private wealth management industry for years to come, and provide a unique opportunity to learn from and share perspectives with industry leaders, government and regulatory stakeholders and a wide range of other guest speakers. We expect upwards of 700 attendees, including bankers, fund managers, wealth management professionals, lawyers, FinTech firms and financial services consultants.


Thank you for your continued support to PWMA. Please do follow us on Facebook, Twitter and LinkedIn to get our latest updates. If you have any ideas on what you would like to see us doing or how we can better serve our members and the industry, please don’t hesitate to offer your suggestions.  


Yours sincerely,


Peter Stein

Managing Director