Industry worth $800 billion under pressure due to talent gap

Hong Kong, known to be one of the top five global financial hubs, boasts assets under management (AUM) worth over $800 billion in bookings. Research conducted by the Private Wealth Management Association (PWMA) revealed one of their major concerns is the lack of talent in the wealth management industry. Furthermore, the inadequacy of talent threatens the ability to provide superlative service to clientele.

In the past years, Hong Kong had witnessed a growth within the private wealth management industry and it was predicted to double in five years. However, due to the complication in lack of talent, the industry requires an increase in the number of talented individuals. Therefore, in order to reach the management’s maximum potential while serving clientele, the PWMA have initiated an Apprenticeship programme. The programme offers university students an eight-week course granting them an opportunity for recruitment in the industry. This will enable a flow of fresh talent across Hong Kong. Know a student or someone looking to break into the private wealth management industry? Hong Kong should be their next destination.