Contestants in the second round had a significant extra factor to consider compared with previous years. Their formal presentations and answers to follow-up questions from judges had to take full account of changed investor sentiment and some dramatically different rates of return, all caused by the global economic downturn.

"The crisis has introduced a new measure of volatility that has made the financial planner's task a whole lot harder," says Roger Steel, chief executive of Sun Life Hong Kong, a major sponsor of the event. "The key, though, is still to focus on the customer's long-term objectives and to realise that people's risk appetite can be very changeable in a period of instability."

Steel emphasises that these principles are as important in the context of the competition as in day-to-day client contacts. He also notes that some investment products are changing. In some cases, this is to reflect the new perceptions of risk. In others, it is to provide alternative opportunities with, for example, the developing range of renminbi-related products.

"Financial planners must be on top of all of that," he says. "Another big change to be aware of is the regulatory pressure to tighten the monitoring of intermediaries' behaviour and offer more protection for the investing public."

In his view, further regulation of the sector, if well thought out, should be supported. Overall, anything that helps customers also benefits individual advisers and product providers. That assumes that proposed new safeguards don't end up increasing reports and paperwork, with no net positive for the industry.

"Each year, the awards show us that standards of professionalism in the industry are continually improving," Steel says. "I think this competition really provides a showcase for excellence. It is good to see young talent coming forward, and it is clear that some very dynamic people have chosen financial planning as their career."

Winners from the competition’s second round

BANKING

The Hongkong and Shanghai Banking Corporation Alfred Sit Wai-hong (industry winner) 

INDEPENDENT FINANCIAL ADVISORY  

Convoy Financial Services Agnes Lo Yim-ping (industry winner), Chan Kin-lung, Chan Tsz-kit, Koon Wai-chi, Lai Kwun-yan, Lai Yu-hin, Lam Man-yin, Lee Cheuk-yin, Leung Lap-yan

ipac financial planning Hong Kong Melanie Jane Nutbeam, Angus Sexton  

INSURANCE  

Prudential Assurance Alpha Cheng Hung-faat (industry winner), Lau Shui-hing, Wong Hoi-on

Manulife (International) Cheng Pui-na, Ng Wing-hung, Pau Kit-han, Sin Pui-shan, Tam Yuen-wah, Young Kwok-leung

Swiss Privilege Chim Hau-wai, Wong Pui-fong

Zurich Insurance Group (HK) Tang Lak-hang