Financial Planning Essay

|Topic: â€Å"Describe the essential element to be a successful financial planner in Hong Kong and China. Explain the challenges of | |practicing ethical financial planning in Hong Kong and China. † | The financial climate is changing constantly with the changing of numerous influential factors. Financial planning is one of the financial industries which gradually developed from a vague concept to a recognized specialty.However, this industry is still in a young stage so that there are some problematic issues concerned especially in some Asian districts like Hong Kong and China. It can be reflected particularly in the remuneration system and professionalization of financial planners as well as public recognition for this industry. To reach a mature level, the first step is establishing a public confidence. Therefore it is emergent for financial planners to think about how to become successful. As the role of helping clients makes some most important decisions of their lives, f inancial planners are required to satisfy a specific set of essential elements.The first and also the most basic requirement for them is strong professional knowledge. Financial planners should be able to implement a comprehensive process when help clients create financial plans and evaluate financial products packages independently to satisfy clients’ need. Well-rounded professional knowledge in varied fields is crucial at the moment which including not only the financial related areas such as economics, business management, and investment, insurance but also some other non-financial related areas such as psychology and sociology.Having the general base knowledge is the start but not the end in the career so that many financial planners are expected to have an expertise in particular field which can help them directly take an advantage position in satisfying some specific clients’ need. Take the insurance planning as an example; a financial planner who is expertise in the insurance industry as well as having the basic all round knowledge will be most likely to gain the clients’ trust.In addition, the ongoing learning is also essential since the financial environment is changing every day and all the decisions should be made according to the particular background environment. The Mainstay’s survey in 2006 shows that 85 percent of the population wants financial planners who are knowledgeable, skilled, and actually care beyond the transaction. And there are also other researches and evidences indicate that interpersonal skills are more important than technical expertise at most times.In this sense, the ability to have emotional resonance with clients and show one’s sincere and caring attitude would be crucial to attract new clients and establish a long term relationship with existing clients. Also it is applicable in making financial plans and implementing related strategies because clients’ assistances and cooperation p lay a significant role in the process. This implication can be obviously reflected in the second step of a formal personal financial planning process, gathering client data and determining goals.When communicating with clients, an excellent financial planner would be able to extract useful information to understand the client’s motivation as well as manage their expectations. It is no doubt that a good reputation is the most valuable thing for financial planners. In addition to professional knowledge and strong interpersonal skills, ethical behavior is a great concern. Proposed ethical behavior standards are based on principle of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence.These principles given by CFP Board aim to encourage public confidence to financial planning industry as well as explicitly identify practitioners’ responsibilities and obligations to different stakeholders. However, practicing these ethical principles in real world may not an easy task. The following part of the essay will examine the challenges of practicing ethical financial planning in Hong Kong and China. With rapid wealth accumulation and increasing investor demand in Hong Kong and China, a higher potential development opportunity for financial planning services had been witnessed.But at the same time, a higher expectation for quality financial planning with insufficient confidence from the pubic becomes a source of challenges for this industry. It appears to be tougher when considering the implementation of ethical financial planning since the nature of the industry is based on trust between clients and planners. These challenges are reflected particularly in the following aspects. Firstly, fee-based financial planning barely exists in Asia due to the low consumer acceptance degree, which most likely to lead to an issue of interest conflicts.A financial planner is commonly compensated by commissions from selling product qu otas given by their companies and the selection of product may not be the best choice for clients. It also matters when considering the risk tolerance for financial planners’ income. Only commission-based compensation may result in unethical behavior practiced by financial planners to survive because of sharp drop in income during the business recession. Secondly, it is challengeable for financial planners to offer high quality services without sufficient confidence and trust from clients.Financial planners must have deep understanding about their client’s financial status, needs and concerns in order to give desirable advices. However, most Chinese consumers are not willing to offer their private information to people whom they are not familiar with, which make it difficult to decide the initial plan and identify the expected outcomes. It is true that an excellent financial planner should have the interpersonal skills of encouraging clients to provide related informat ion as much as possible.The contention about what degree an planner should pursue discovery conversations and how to justify the ethical position when making effort to gain the consumer information is concerned. Finally, the level of knowledge and education of financial services to the public are relatively low in districts for some undeveloped cities in mainland China, which may become a kind of misguided incentive of unethical behavior to financial planning services providers affected by the poor review mechanism and lapses of checks.It can be strongly reflected in the fairness issue such as disclose of information between planners and clients It will take long for this industry to develop mutually, some improvement measures can be practiced now. Efforts could be focused on several aspects including the closely supervise of cooperate governance, adequate training for practitioners’ competence and professionalism, as well as the education for the public.

Economics Stock market Essay

Playing the stock market is like gambling. Such speculative investing has no social value, other than the pleasure people get from this form of gambling. On the surface, this seems true. Folks are just buying and selling and hoping the difference will end up in their checkbook. They are not improving the lives of others, encouraging certain business practices, buying and using goods, or hiring and training workers. In fact, the businesses that they buy and sell may never matter to them and never know about their activity. So, what social value was there? However, upon deeper reflection, there might be more. The buying and selling creates liquidity in a public market and permits business to obtain cheap funding for projects that produce jobs, feed communities, train workers and support charities. And, to the extent that playing the stock market educates the investor (no telling if it does or not), the investor might learn about company activities and get interested in particular firms and support their goals. This evolution from disinterested to interested/active may or may not occur but it is possible. Yes, they might be trying to beat the odds, as in a black jack game but this activity might be ultimately educational and provides the grease that lubricates the capital markets. Playing the stock market is like gambling. Such speculative investing has no social value, other than the pleasure people get from this form of gambling. On the surface, this seems true. Folks are just buying and selling and hoping the difference will end up in their checkbook. They are not improving the lives of others, encouraging certain business practices, buying and using goods, or hiring and training workers. In fact, the businesses that they buy and sell may never matter to them and never know about their activity. So, what social value was there? However, upon deeper reflection, there might be more. The buying and selling creates liquidity in a public market and permits business to obtain cheap funding for projects that produce jobs, feed communities, train workers and support charities. And, to the extent that playing the stock market educates the investor (no telling if it does or not), the investor might learn about company activities and get interested in particular firms and support their goals. This evolution from disinterested to interested/active may or may not occur but it is possible. Yes, they might be trying to beat the odds, as in a black jack game but this activity might be ultimately educational and provides the grease that lubricates the capital markets.

Advantages of Science

Assignment #3 WAQAR AHMED KHAN (5757) Q1. Write a function power ( a, b ), to calculate the value of a raised to b. static void Main(string[] args) { Console. WriteLine(â€Å"enter number with power is to be calculated†); int a = Convert. ToInt16(Console. ReadLine()); Console. WriteLine(â€Å"enter power†); int b = Convert. ToInt16(Console. ReadLine()); Program p = new Program(); double c=p. power(a, b); Console. WriteLine(a+ † rase to the power â€Å"+b+ â€Å"=†+c); } private double power(int a, int b) { double power = Math. Pow(a, b); return power; } Q2.Write a general-purpose function to convert any given year into its roman equivalent. Example: Roman equivalent of 1988 is mdcccclxxxviii Roman equivalent of 1525 is mdxxv static void Main(string[] args) { Console. WriteLine(â€Å"enter the year†); int number=Convert. ToInt16(Console. ReadLine()); Program p=new Program(); string samsung=p. ToRoman(number); Console. WriteLine(samsung); } private st ring ToRoman(int number) { if ((number < 0) || (number > 3999)) throw new ArgumentOutOfRangeException(â€Å"insert value betwheen 1 and 3999†); if (number < 1) return string. Empty; f (number >= 1000) return â€Å"M† + ToRoman(number – 1000); if (number >= 900) return â€Å"CM† + ToRoman(number – 900); if (number >= 500) return â€Å"D† + ToRoman(number – 500); if (number >= 400) return â€Å"CD† + ToRoman(number – 400); if (number >= 100) return â€Å"C† + ToRoman(number – 100); if (number >= 90) return â€Å"XC† + ToRoman(number – 90); if (number >= 50) return â€Å"L† + ToRoman(number – 50); if (number >= 40) return â€Å"XL† + ToRoman(number – 40); if (number >= 10) return â€Å"X† + ToRoman(number – 10); if (number >= 9) return â€Å"IX† + ToRoman(number – 9); if (number >= 5) return â€Å"V† + ToRoman(number – 5); if ( number >= 4) return â€Å"IV† + ToRoman(number – 4); if (number >= 1) return â€Å"I† + ToRoman(number – 1); throw new ArgumentOutOfRangeException(â€Å"something bad happened†); } Q3. Any year is entered through the keyboard. Write a function to determine whether the year is a leap year or not. static void Main(string[] args) { Console. WriteLine(â€Å"enter the year†); int a = Convert. ToInt16(Console. ReadLine()); Program p=new Program(); . leap(a); } private void leap(int a) { if (a%4! =0 && a%100==0 && a%400==0) { Console. WriteLine(â€Å"this year is a leap year†); } else Console. WriteLine(â€Å"this is not a leap year†); } Q4. Write a function that receives 5 integers and returns the sum, average and standard deviation of these numbers. int a, b, c, d, e; Console. WriteLine(â€Å"enter first number†); a = Convert. ToInt16(Console. ReadLine()); Console. WriteLine(â€Å"enter second number†); b = Convert. To Int16(Console. ReadLine()); Console. WriteLine(â€Å"enter third number†); c = Convert. ToInt16(Console. ReadLine()); Console. WriteLine(â€Å"enter forth number†); = Convert. ToInt16(Console. ReadLine()); Console. WriteLine(â€Å"enter fifth number†); e = Convert. ToInt16(Console. ReadLine()); Program p = new Program(); int f = p. sum(a, b, c, d, e); int g = p. average(f); double h = p. standard_deviation(a, b, c, d, e, f, g); Console. WriteLine(â€Å"sum of numbers are=†+f); Console. WriteLine(â€Å"averge of numbers are=†+g); Console. WriteLine(â€Å"stardard derivation of numbers is=†+h); } private double standard_deviation(int a, int b, int c, int d, int e, int f, int g) { double i, j, k, l, m,deri,squ; i = a – g; j = b – g; k = c – g; l = d – g; m = e – g; i = Math. Pow(i, 2); j = Math. Pow(j, 2); = Math. Pow(k, 2); l = Math. Pow(l, 2); m = Math. Pow(m, 2); deri = (i + j + k + l + m) / g; squ = Math. Sqrt(deri); return squ; } private int average(int f) { int avg = f / 5; return avg; } private int sum(int a, int b, int c, int d, int e) { int sum = a + b + c + d + e; return sum; } Q5. If we list all the natural numbers below 10 that are multiples of 3 or 5, we get 3, 5, 6 and 9. The sum of these multiples is 23. Find the sum of all the multiples of 3 or 5 below 1000. int sum = 0; for (int i = 3; i < 1000; i++) { if (i % 3 == 0 || i % 5 == 0) { sum += i; Console. WriteLine(sum. ToString()); } Q6. A palindromic number reads the same both ways.The largest palindrome made from the product of two 2-digit numbers is 9009 = 91 99. Find the largest palindrome made from the product of two 3-digit numbers. int maxPalindrome = 0; for (int i = 100; i < 1000; i++) { for (int j = i; j < 1000; j++) { int product = i * j; if (product. IsPalindrome() && product > maxPalindrome) { maxPalindrome = product; } } } System. Console. WriteLine(maxPalindrome); } } public static class Extensions { public s tatic bool IsPalindrome(this int i) { List chars = new List(i. ToString(). ToCharArray()); chars. Reverse(); return i == int. Parse(new string(chars. ToArray()));

Based on your reading of The Death of Woman Wang,describle and analyze Essay

Based on your reading of The Death of Woman Wang,describle and analyze how Confucian ideals are ever present to all levels of Ch - Essay Example According to Confucius, society could become stable only when the five basic relationships are being fulfilled which are, the relation of Love (among father and son), relationship of righteousness (among emperor and minister), relationship of virtuous demeanor (among husband and wife), relationship of order (among elder and younger) and relationship of faithfulness (among friends).If we closely administer these virtues, we see that out of the five, three occur in the family system. He was the great devotee of the family system and it is also the basis of today’s family system in China (Spence pp134-139). The family system has an extended impact on the whole town, city and society of China. The order is strictly followed as, for instance, younger has to obey the elder whether the elder is from his family or from outside the family. Even today, Chinese people pay special respect to their elders (Spence pp 74-96). The death of woman Wang is a piece of literature that provides a h igh exposure to Chinese norms, society and cultural values back in the seventeenth century. According to Spence, the obligation of the people to the government is very high. To support the government, they have to pay taxes. Even when there were natural calamities, the people of the village had to pay taxes. The rule of the emperor is to be judged by the virtue and it is not hereditary. According to Confucius, the ruler must rule wisely and with moral attitudes. The ruler should be just in his working and virtue must be his core conduct. If the society is being ruled by a wise and just leader and ruler, the society is harmonized, stable and flourishing and it cultivates moral and ethical values. When the government understood the condition of the village, firstly they divided the tax in installments and later on forgave the taxes to be paid. But it was too late (Spence pp 33-58). The modern Chinese society is prospering mainly due to the autonomy that their political system provides . Chinese production market, for instance, is growing at a remarkable pace. The government provides the basic necessities to their citizens at low costs. The rulers, hence, are following the principles of Confucius wisely and with high moral attitude. Conscious considered woman as morally and intellectually defective. He was the strong opponent of women subordination. Regardless of this fact, the principles he provided were significantly influential in maintaining harmony, peace and stability in an economy. In ‘the story of woman Wang’ women are portrayed as liable to perform household chores. As a widow, they are given high value and respect if they remain loyal to their husbands even after he passes away. Women are severely punished, in Spence’s accounts, if they use their right to freely move around, choose their partners or try to change their lives. They are punished and eventually killed by one or the other men in Chinese society of 17th century. However, t he modern Chinese society regards female counterparts as respectful, loveable and respectful yet free to make choices. The Chinese society and the business market is an open case of female participation except households. The households and other family related issues, however, still work under women supervision and women are still held responsible for household works. Filial Piety is yet another value of Confucius. Confucius is also heard of saying â€Å"

A Critical Analysis of Womens Social Realities in Ancient Greece Essay

A Critical Analysis of Womens Social Realities in Ancient Greece - Essay Example In a number of cases in Greek medical science, law, social status, etc, women were considered as inferior and subservient to their male counterparts. Greek society was accustomed to view women as addendum to the males. A close analysis of the Greek medical treatises by some anonymous Greek scholars including Hippocrates1 shows that though Greek medical science has made a significant effort to look deep into the scientific rationales to explain women’s physical realities, the tendency to view women as addendum to their male counterparts has always prevailed over these medical interpretations. But in other sectors such as economy, politics, religion, law, etc there were strictly demarcated dichotomies between men’s and women’s role. But the Spartan women would enjoy more civil, social and economic rights than the Greek women did. Scholars argue that as a military polis, Sparta had been able to forsake the gender bias in its attitudes to women and allow its women to enjoy more freedom according to their military career and services to the state. As revealed in Hippocrates’ corpus, ancient Greek medical science was highly infused with male ideology and tendency to view women’s reality as â€Å"special cases†2. ... gard, Sue Blundell says, â€Å"In the discussions of women’s reproductive system in particular, ideas about women’s physiology can be seen to reflect and reinforce ideas about their social and moral identity†.4 Greek views on female puberty, menstruation, sex, reproduction, conception, menopause, etc necessarily reflects women’s subjectivity to their male counterparts. Marriage as well as sexual intercourse was supposed to be a solution to a number of female problems of female physiology. Menstruation is one of these problems that were thought to be cured with sexual intercourse. In cases of menstrual hallucination and suicidal tendency of young girls, one of Hippocratic authors’ advice is as following: â€Å"My prescription is that when virgins have this trouble, they should marry as soon as possible. If they become pregnant, they will be cured†.5 Young girls who had reached puberty were thought to be uncontrollable and, therefore, to be mis creant in the society. In the case of sex and reproduction, a woman’s value had been assessed in terms of her ability to give a child. In a male-centered society, a woman without fertility was nothing but a barren land which gives nothing to its owner. Like most other male dominated societies of human civilization, classical Greek society used to view women as a property of the males. Therefore, Greek women could not inherit property and run business. According to Sue Blundell, â€Å"Athenian Women could not by law enter into any contact ‘beyond the value of one medimnos of barley’: a mdimnons was a measure of grain, [which is] sufficient to keep a family fed for five or six days†.6 Classical Greek women could acquire property in three ways: inheritance, dowry and gifts. Indeed, inheritance was a legal means which

I wrote it on 'Assignment Criteria' Essay Example | Topics and Well Written Essays - 1000 words

I wrote it on 'Assignment Criteria' - Essay Example The advantages and disadvantages need to be studied in depth before a developing nation decides to build or leave the idea as it is of a dam within its territories. (Choudhury, 1999) Dams can pose both good and bad points for any developing nation but the real decision maker is the government since it finds how good or how bad the construction of dams could mean for the poor people of the developing nation. For a developing nation, the poor people get affected by dams in the most direct manner. Their agricultural basis is positively improved and their return on investments is taken care of. Different businesses also get affected by the availability of electricity as these dams bring them a reason to smile and earn more and more. For the poor, dams bring them water and that too in an abundant quantity. They get to drink fresh, clean water and are thankful to the authorities who made the decision to build dams in the past for them. Rain water gets accumulated within these dams and this helps the poor people a lot. (Lyon, 1994) They get a number of benefits for their own selves, their families and their respective businesses with the assistance of these dams. Dams help the poor people more than the rich ones since these dams assist in opening up their new business ranks and also help them in getting food and water easily. Dams always help in irrigation, agriculture and the issues related with the availability of fresh and clean drinking water. The illnesses related with the non-availability of clean drinking water are always scary and this is one aspect that is looked after in a good manner by the presence of dams within any country. A developing nation can continue on its developing path if it builds dams for the prosperity of its own people as well as to enrich its resources and the water that is there within its territories. The disadvantages that building dams on the

Comparitive Politics Essay Example | Topics and Well Written Essays - 500 words

Comparitive Politics - Essay Example This is presumed to be the fairest political system. This system of governance entails two aspects; political participation and contestation (the former is through voting while the latter is through vying for a political seat). There is better attitudes and intentions of freedom of speech and press (Samuels, 2012). The democratic system of governance is a system which has given people the freedom of meeting and freely expresses their political views without fear or intimidation. There are two types of democracies commonly practiced in the world. Direct democracy is a form of government where leadership is vested in the hands of individuals. It’s also known as a government not only by the people themselves but also for the people. Every individual is given the chance to directly influence the policy making process. The second type of democracy is representative democracy. This is a political system where there is an intermediary political actor between the individual and policy outputs of the society. This is done through electoral process where one person or a group is elected, with the task of representing the voters. Democracy has made it possible for voters to participate in policy making process. Citizens are able to choose the right person to lead unlike other forms of governance where leaders are appointed. Through democracy form of leadership interest of those represented are safeguarded because the real power of leadership lies in the hands of the voters. Equity is the main principle where individuals are entitled to equal rights. The freedom of speech makes people air out their grievances without fear, and this enhances good governance. Due to the way democracy is organized, individuals who to lead this system enjoy a lot of stability and efficiency in administration. Democracy has promoted peaceful politics in different areas; this is due to the fact that there is freedom and rights to be enjoyed by all