Managing Director’s Message


A Message from the Managing Director


Dear Members,


It’s both an honour and a pleasure to be heading up 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 last year, PWMA has taken the lead to push for improvements to the curriculum and examination structure of the Enhanced Competency Framework (ECF) Module 1, working closely with the Hong Kong Monetary Authority and the Hong Kong Securities and Investment Institute. Well aware that it touches directly on all our membership, we have designated updating the ECF Module 1 as a priority project for 2018.
  • In the summer of 2018, we began the digital transformation of our application and renewal process for Certified Private Wealth Professionals, including the introduction of online payment. We hope to roll this out with the next renewal cycle.
  • Earlier this year we began working with KPMG to develop a White Paper aimed at promoting Hong Kong’s development as a global private wealth management centre. The White Paper was released on 27 September, 2018 and its findings featured prominently at the 3rd Annual PWMA Wealth Management Summit in September. Following on the White Paper’s proposals with the government and our regulators will be a top PWMA priority going forward.


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

  • Regulatory issues: Through our regulatory committee, we are organising more roundtables and surveys to help members better understand how their peers are responding to regulatory developments, and ensuring that our industry’s input is taken under consideration during regulatory consultations.
  • Next generation:  Recognizing talent development is one of the most important priorities for our industry, we are organising events appealing to the younger segments of our membership. Leveraging the ideas and support of our Next Generation Committee, our first-ever Next Generation Forum was held in June, which was attended by high-potential front-line private bankers nominated by their firms. The Forum was a great success, and we look forward to more informative sessions like this to help our rising stars succeed in becoming trusted advisors to their clients.
  • Fintech: With new technologies rapidly impacting the evolution of the private wealth management industry, our newly formed Fintech Committee is working on initiatives to help the industry navigate the challenges of digital transformation.
  • Apprentices: The Pilot Apprenticeship Programme for Private Wealth Management, co-organised by the HKMA and PWMA, continues to gain momentum. The students in the first class have completed their training cycle of two summers, and we are now gearing up to recruit the third class of students.
  • 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 3rd Annual PWMA Wealth Management Summit was bigger and better than ever this year, running a full day for the first time and attracting over 850 registered attendees. More than 700 guests attended our annual Gala Dinner and enjoyed live musical and dance performances courtesy of our member firms and our current Apprentices. And we were particularly fortunate this year as the Summit and Gala Dinner were preceded by a special Hong Kong-Swiss Financial Seminar, organised in collaboration with the Swiss Bankers Association and hosted at the Hong Kong Monetary Authority.


Thank you for your continued support to PWMA. If you have any ideas on what you would like to see us doing more of, please don’t hesitate to offer your suggestions. 


Yours sincerely,


Peter Stein

Managing Director