"Terence Tsui" <terence_tsui[at]cuhk.edu.hk> wrote in message
news:d6aelt$21l9$1[at]justice.itsc.cuhk.edu.hk...
- quote -

I'd say yes, but the good news is that IFA gives away all their "secrets" on
their website. Go there, take the risk survey, pick the portfolio they
suggest, and then match that portfolio, index by index, with ETFs and index
funds available in the regular market. You'll do some tweaking in some
areas, but it's all right there.

Mike


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It is really nice to read the discussion about financial planning in this
newsgroup. I am living in Hong Kong and the tax rate here is very low. The
only significant one is income tax and estate duty which is pretty simple
and straight forward:

Income tax
first HK$30,000 2%
next HK$30,000 8%
next HK$30,000 14%
remainder 20%

Estate Duty
HK$7,500,000 - HK$9,000,000 5%
HK$9,000,000 - HK$10,500,000 10%
HK$10,500,000 15%

The concept of financial planning only came into Hong Kong 3-4 years ago and
most of the financial institutes (e.g. bank, insurance company and IFA) are
rather sales driven. They only charge through the commission of financial
products. While all of them claim to be financial planner, none of them
offer comprehensive and integrated financial planning (investment,
insurance, tax planning, estate planning) at the moment.

Do you think a comprehensive financial planning is neceesary for people
living in Hong Kong?