FAQs (Updated on May 28, 2018)


1. What is the Enhanced Competency Framework?

2. Is it mandatory for private wealth management practitioners to obtain ECF certification?

3. Which organization is considered a PWM institution? Does PWMA have a list of such institutions?

Relevant Practitioners

1. To whom is the ECF applied to? 

2. How does one determine whether the individual is considered as a Relevant Practitioner for the purpose of ECF?

3. Will the ECF apply to individuals who work on a temporary basis in Hong Kong?

4. Are wealth advisors / trust specialists covered under the ECF?

CPWP Certification

1. What are the criteria for applying for CPWP certification under the examination route?

2. How does one get the CPWP certification?

3. Is the CPWP certification available to practitioners who are not employed at PWMA member institutions?

4. What is the prerequisite work experience?

5. If I previously worked overseas, will these working experiences be considered relevant?

6. Is there any application fee?

7. If a relevant practitioner only has one year of relevant experience, can he/she sit for the Module Exams?

8. Is an Assistant staff role considered relevant experience for the purpose of a CPWP certification application?

9. Is Corporate Finance or Research considered relevant experience for the purpose of CPWP certification application?

10. How will I be informed of the assessment results ? Do I get a chance to appeal if the result is a rejection?

CPWP Certification Renewal and On-going Professional Training (OPT)

1. What are the OPT requirements?

2. What if I fail to meet the annual OPT requirements?

3. When a qualified practitioner changes jobs and moves to a Non-PWMA institution after being certified, can the individual apply for renewal of his/her CPWP status ?

4. What are the types of activities that will qualify for OPT?

5. If I work for another company within a calendar year, what should I do with the OPT hours I have previously earned?

6. Is OPT hours cumulative?

7. Are there any fees for annual renewal of CPWP certification?

8. How long does it take to process the application for the CPWP Certification Renewal?

9. Does the OPT requirement for the CPWP Certificate Renewal run on a calendar-year basic?

10. Is it mandatory to attach documents when submitting the Application for CPWP Certification Renewal?

11. If there is a change of job or industry, and/or personal information, shall I inform PWMA?

12. Is there any deadline for CPWP Certification renewal?

13. What if I fail to submit my CPWP Certification renewal within the deadline?

14. Does the OPT requirement need to be met on an anniversary basis?

Training Programmes and Examinations

1. What are the requirements of the ECF?

2. Where are the training programmes and examinations available?

3. Where can we find the training schedule and examination schedule for both Module 1 and Module 2?

4. How much do HKSI and HKIB charge for the programmes and examinations, respectively?

5. How many times can one take the examinations?

6. Could a Relevant Practitioner take the accredited examinations directly without attending the programmes?

7. When is the Chinese version of the ECF modules available?

Administration of the ECF

1. What is the role of the Private Wealth Management Association in the ECF? 

2. Will the Relevant Practitioner receive any document to certify that he/she is CPWP certified by the PWMA?

3. If I am holding certain professional qualification (e.g. CFA, FRM, CGA, CPA, CIWM, etc.), would the professional qualification be eligible for exemption? 


One-off Exemption (Grandfathering)

1. What is this one-off exemption?

2. What relevant experience would be counted in the 10 years?

3. What is the coverage of other customer-facing functions in the financial service industry?

4. Is a Corporate Finance or Research function considered a PWM customer-facing function for the purpose of ECF?

5. How does the Relevant Practitioner know if he / she is eligible for exemption?

6. How does one complete the Module 2 requirement?

7. How will I be informed of the assessment results? Do I get a chance to appeal if the result is a rejection?

8. Is leave counted for grandfathering if the employee continues to work in the institution?

9. If an applicant has 10 years relevant experience but had left the industry, is he/she eligible for grandfathering?

10. Is there any application fee?

11. Is there a cut-off date for applying for the grandfathering eligibility?

12. Would overseas work experience be recognized for grandfathering application?

13. How will I be informed of the assessment results? Do I get a chance to appeal if the result is a rejection?