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Finance industry experts offer insights on Fintech and the Future of Wealth Management

18 Oct, 2016
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As part of the FSDC Practitioner Speakers Series, the seminar “Fintech and the Future of Wealth Management,” was organised by the School of Business, Career Centre, and Hong Kong Financial Services Development Council on 18 October to provide students with insights from finance industry experts Mr. Lai Voon San, Deputy Chief Executive Officer of Value Partners Group Limited, and Mr. Stephen Wong Yuen-shan, FSDC Marketing Development Committee Member, and Deputy Executive Director and Head of Public Policy of OUR Hong Kong Foundation.
 
Steven Yiu and Jolly Chan, two final-year students from the School of Business, initiated the seminar by engaging in some light conversation before passing the stage to Professor Gordon Y.N. Tang, Director of Student Affairs, for opening remarks and to introduce the guest speakers.
 
Fintech, a term that simply combines the words “financial” and “technology,” is described by Mr. Lai as being an industry that will one day “blur the lines between asset and wealth management” by enabling everyone to make their own financial decisions and take back control of how they make investments. Likening the financial industry to the wheel, Mr. Lai argued that if the wheel could be improved, improvements could likewise be applied to the financial industry via the use of technology and challenged the audience to find ways to integrate Fintech into their lives moving forward.
 
Mr. Stephen Wong largely agreed with the views of Mr. Lai, but also added that another benefit of Fintech includes the fact that financial decisions could one day be made without the intervention of human emotions, which could lead to errors in judgment. He also acknowledged that though Fintech could result in the loss of finance-related jobs, given that Hong Kong is lagging behind the rest of the world in terms of Fintech development, Hong Kong’s Fintech industry still has a long way to go before that could take effect.
 
Before ending the seminar, both Mr. Lai and Mr. Wong offered some final tips and advice during the Q&A period. Specifically, they reiterated the points that although Fintech is growing and that the demand for computer-related skill sets is on the rise, there is always room for non-technologically oriented people and other complementary skill sets to find opportunities in the field. The most important thing, however, was that everyone should always choose a path that they have a passion for.
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