__來源:金庫網(wǎng)

2018年11月17日，由FPSB China主辦的第十一屆中國金融理財(cái)師年會，于上海國際會議中心隆重召開。國際金融標(biāo)準(zhǔn)委員會總執(zhí)行官Noel Maye先生出席了本次年會活動。

為深入的探討理財(cái)行業(yè)的現(xiàn)狀與未來發(fā)展，金庫網(wǎng)特別邀請Noel Maye先生進(jìn)行了一場獨(dú)家采訪，聽聽他從國際角度如何看待國內(nèi)金融理財(cái)師市場的變化和機(jī)遇。

關(guān)于“金融理財(cái)”的誕生和發(fā)展

The concept of financial planning and CFP certification got its start in the United States in the late 60s and a grew out of a movement on the part of financial practitioners who really wanted to get to know their clients first, get to know their client's goals, needs and objectives, before making recommendations and providing products.

金融理財(cái)?shù)母拍詈虲FP資格認(rèn)證的理念，是相繼誕生于上世紀(jì)六十年代末的美國。一部分金融從業(yè)者想要擺脫簡單的賣產(chǎn)品模式，他們開始真正想要了解客戶，希望能在為客戶提供建議、推薦產(chǎn)品之前了解到客戶真正的財(cái)務(wù)目標(biāo)和需求。

The concept of financial planning and CFP certification stayed in the United States for much of the 70s and 80s , and then in 90s and organization from Australia said，it too wanted to offer certified financial planner certification, that started the internationalization of the certified financial planner program. And we finished up last year in 26 countries and territories around the world with175000 certified financial planner professionals. We hope that number will be about 180000 CFP professionals by the end of this year and 17500 of those are here in china.

在上世紀(jì)70、80年代，金融理財(cái)?shù)母拍钜约癈FP資格認(rèn)證仍主要在美國本土運(yùn)行。到了九十年代，澳大利亞的相關(guān)組織提出希望能為本國理財(cái)師也進(jìn)行國際理財(cái)師的資格認(rèn)證，于是我們開啟了國際化之旅。截止到去年，我們已經(jīng)在全世界范圍內(nèi)26個(gè)國家及地區(qū)擁有了175000名CFP持證人，希望在今年年底這個(gè)數(shù)字能達(dá)到18萬。這其中17,500的持證人是來自中國。

專業(yè)人士為行業(yè)帶來了“三贏”格局

We have done different kinds of research to look at the value of CFP certification. Several years ago, we did global research with financial services firms, and we asked them what they saw as the value of having financial planning in their firms, and particularly hiring CFP professionals, firms reported that they were more productive, they had more satisfied clients, they actually were able to manage risks and complaints better, and they had more satisfied employees as well.

我們也想要知道CFP證書對理財(cái)師及這個(gè)行業(yè)到底有沒有幫助，所以我們做過一系列有關(guān)“CFP資格認(rèn)證的價(jià)值究竟在哪里”的研究。就在幾年前我們做了一次全球范圍的調(diào)查，詢問了許多金融服務(wù)機(jī)構(gòu)，他們是如何看待金融理財(cái)服務(wù)對于公司業(yè)務(wù)的價(jià)值，特別是在聘用CFP專業(yè)人士這方面。機(jī)構(gòu)的反饋告訴我們：CFP持證人往往更加高產(chǎn)，服務(wù)客戶的滿意度更高，在風(fēng)險(xiǎn)管理方面做得更加出色，收到的客戶投訴也更少。當(dāng)然，這些金融服務(wù)機(jī)構(gòu)同時(shí)也獲得了更多讓他們滿意的員工。

So we saw it as a win-win thing for the employees who were getting CFP certification for the firms, who were employing those individuals and the clients who engage in the firms. We also did some global consumer research in 19 countries with 19000 consumers. And what we found is that consumers generally don‘t feel confident about their finances, and they are not sure who they can talk to and when it comes to taking controlof their financial futures. Consumers who worked with the CFP professional were more confident and felt they were more likely to stay on track.

因此，我們可以看到的是CFP持證人、機(jī)構(gòu)以及客戶“三贏”的局面。同樣，我們也做了一次消費(fèi)者調(diào)查，在全球范圍內(nèi)19個(gè)國家的19000名消費(fèi)者中展開。我們發(fā)現(xiàn)這些消費(fèi)者對自己的金融理財(cái)（方式）并不自信，當(dāng)涉及到如何管理自己的金融資產(chǎn)時(shí)，他們不知道應(yīng)該去和誰交流、相信誰的判斷。而那些與CFP持證人合作的消費(fèi)者則顯得更有信心，并且認(rèn)為他們的財(cái)務(wù)目標(biāo)能夠按計(jì)劃完成。

So again, we are very pleased to see the data showing that individuals who get the CFP certification have more successful careers. Firms who employ CFP professionals have more satisfied customers, and clients who engage a CFP professional have more satisfaction and feel more in control of their finances.

所以，我們非常高興看到這樣的結(jié)果，CFP資格認(rèn)證在持證人的事業(yè)道路上起到了積極的作用，使雇用CFP持證人的機(jī)構(gòu)擁有了更多滿意的客戶，讓接受CFP持證人服務(wù)的客戶對自己的財(cái)務(wù)狀況也有了更好的把控。

提升證書價(jià)值時(shí)面臨的挑戰(zhàn)

There is probably two issues when it comesto consumers. One is really may be lack of awareness of what financial planningis and the value of financial planning. So what a lot of financial planning standards board and the network of CFP certification bodies including FPSB China do is communicating to consumers what is financial planning, what is the value of financial planning and then what is the value of working with a competent and ethical financial planner like a CFP professional. So a huge part of the challenge and the opportunity are to increase consumer awareness.

關(guān)于證書價(jià)值的提升，這里可能存在兩個(gè)主要的問題。第一個(gè)是消費(fèi)者對于什么是金融理財(cái)，以及金融理財(cái)價(jià)值的認(rèn)知缺失，所以許多FPSB組織成員，包括FPSB China在內(nèi)，首先要做的是，先傳遞給消費(fèi)者金融理財(cái)?shù)母拍罴皟r(jià)值，然后讓消費(fèi)者意識到，與CFP持證人這樣有專業(yè)能力及道德準(zhǔn)則的金融理財(cái)師合作，所能帶來的價(jià)值。所以目前很大一部分的挑戰(zhàn)和機(jī)遇，是提升消費(fèi)者的認(rèn)知能力。

But then beyond consumer awareness, there is the issue of trust. And I think a lot of times consumers don’t have confidencein themselves. And maybe sometimes they don’t have confidence in the financial market or in practitioners they are dealing with. They are looking for somebody who will actually work in their interest, who will abide by a code of ethics and give them advice on products that actually help them achieve their financial life goals. And that really is what CFP certification about. So once consumers understand what a CFP professional is and what that represents, then confident to put their trust in CFP professionals. So there is a tremendous opportunity of creating awareness and then building the trust and rewarding the trust.

另一個(gè)問題是“信任壁壘”。我認(rèn)為大部分的消費(fèi)者，對自己在金融理財(cái)方面（能力和方法）是不自信的，他們或許有時(shí)也會對金融市場，以及經(jīng)常接觸的從業(yè)人員沒有信心。消費(fèi)者希望能夠找到一個(gè)真正代表他們利益、能遵守道德準(zhǔn)則，并能提供產(chǎn)品建議、幫助他們實(shí)現(xiàn)財(cái)務(wù)目標(biāo)的人，而這也是CFP資格認(rèn)證存在的價(jià)值。一旦消費(fèi)者了解了什么是CFP持證人，以及這背后所代表的意義，他們就有信心去信任CFP持證人。這對我們來說是一個(gè)巨大的機(jī)會，來創(chuàng)建消費(fèi)者的相關(guān)認(rèn)知，然后建立信任。

消費(fèi)者的偏好不是一成不變的

The level of individual retail investor participation in the market varies territory by territory. In India the number maybe is 2%, in China maybe like 20%, and in us it is more like 40%. Actually what you can see is about consumers getting comfortable with participation ofthe marketplace. The government in China is looking to move Chinese consumersfrom being savers to being investors and consumers, and with that they are also looking at opening up the market as well. So managing a sort of a central policy approach with more open markets will getting more consumers in China to participate.

個(gè)人投資者在市場中的參與程度因地區(qū)而異，比如在印度可能是2%，在中國大概是20%，在美國這個(gè)比例也許是40%。而實(shí)際上你能看到的，是消費(fèi)者越來越舒適的參與到（金融）市場中來了。我知道，中國監(jiān)管部門希望消費(fèi)者從儲蓄者變成投資者，與此同時(shí)，他們正在考慮進(jìn)一步開放市場，一個(gè)更加開放的市場政策將會使更多的投資者參與進(jìn)來。

A critical element in supporting that process is having people that the Chinese consumers can trust, who will actually give them the advice they need, will explain to them why they are inthe market, and explain the opportunities and equally important the risks. One of the things that financial planning standards board the global network doesis we participate with IOSCO, which is the international organization of securities commissions. They have world investor week, and we participated with them to say we would like to introduce world financial planning day to give context to investment decisions.

完成這個(gè)過程的一個(gè)關(guān)鍵因素，是要讓中國消費(fèi)者有可以信賴的人，他們可以給消費(fèi)者提供建議，向消費(fèi)者解釋為什么要進(jìn)入這個(gè)市場，以及他們將要面對的風(fēng)險(xiǎn)。FPSB所做的事情之一就是與IOSCO（國際證監(jiān)會）的合作，他們有一個(gè)世界投資者周，通過這些活動來推廣我們的世界金融理財(cái)日，為投資者的投資決策提供一個(gè)可以交流的機(jī)會。

So I think a critically important role that CFP professionals can play around the world in china is helping consumers understand why you are investing, when is the right time to invest, what kind of funds and what outcome are you looking to achieve. So we think there is a tremendous synergy between what the government is looking to do and what CFP professional is the role they can play in helping getting Chinese consumers on the path to financial independence.

CFP持證人在中國乃至全球范圍內(nèi)的一個(gè)重要作用，就是幫助客戶理解他們?yōu)槭裁匆顿Y，什么時(shí)候適合投資，使用什么樣的投資策略，以及他們想要達(dá)到什么樣的成果。所以我們認(rèn)為，政府的意愿與CFP持證人的作用之間將產(chǎn)生巨大的協(xié)同效應(yīng)，幫助中國消費(fèi)者通往財(cái)務(wù)自由。

理財(cái)師應(yīng)該走上獨(dú)立理財(cái)師的道路嗎？

I do not think it's an “either,or” thing. I think it is “and”. If you think about financial planning in the United States, it used to be that people worked in firms and to do financial planning. They left the firm and they became independent practitioners. But inthe last decade, firms are coming back into financial planning. And so now in US you probably have fifty percent independent, fifty percent in firms. In Brazil, CFP professionals mostly work in banks. In France, They mostly work ininsurance companies. In Canada, a lot of them are in accounting practices. So for us, we train and focus on making sure the individual is qualified and whether they are independent or in a bank or an insurance company. We support all of that, because ultimately what we are looking to do is to ensure there is enough access to consumers, to competent ethical financial advisors.

我不認(rèn)為這是一個(gè)非此即彼的結(jié)果，而應(yīng)該是兩者的結(jié)合。如果我們看一下美國財(cái)務(wù)規(guī)劃行業(yè)的發(fā)展，最早理財(cái)師是在機(jī)構(gòu)中為客戶提供服務(wù)，后來他們離開了機(jī)構(gòu)成為了獨(dú)立執(zhí)業(yè)者。但最近十年，機(jī)構(gòu)就業(yè)又重新回歸了金融理財(cái)行業(yè)的主流?，F(xiàn)在美國市場的構(gòu)成大概是50%的獨(dú)立理財(cái)師、50%的金融理財(cái)機(jī)構(gòu)；在巴西CFP持證人基本上都在銀行就職，在法國他們大多在保險(xiǎn)公司，而在加拿大持證人大部分在從事著會計(jì)工作。所以對我們來說責(zé)任很重大，我們要確保每一名CFP持證人都具備勝任各種工作的能力，無論是獨(dú)立的理財(cái)師還是就職于金融機(jī)構(gòu)。因?yàn)槲覀冏罱K的目的，是確保消費(fèi)者有足夠的機(jī)會，能接觸到有能力，并且遵守道德準(zhǔn)則的金融理財(cái)師。

Historically in china, the financial services has been delivered through the major financial institutions, because that is where the trust is. So consumers will often look for the bank brand over necessarily looking for the individual. But I think as consumers getting more interested in having a meaningful relationship of trust with their individual adviser, you are gonna see opportunities for independent financial advice to grow here in China as well.

在中國，金融理財(cái)服務(wù)一直是由主流金融機(jī)構(gòu)提供的，正是因?yàn)樾湃蔚脑?，使消費(fèi)者更傾向于找銀行（提供金融理財(cái)服務(wù)）。但我認(rèn)為，在今后消費(fèi)者們可能會越來越有興趣，與他們信任的獨(dú)立理財(cái)師建立關(guān)系，因此中國的獨(dú)立理財(cái)師也將會有很好的發(fā)展機(jī)會。

關(guān)于保險(xiǎn)行業(yè)中的持證人

I think sometimes it's maybe just the dynamic of the environment. If you think about insurance versus banking, a lot of times individuals who work in insurance might be part time. They might rotate in and out of the business a lot. And so often firms may not invest as heavily in their education and training as opposed to banks where people will stay long term be employees and they'll be part of that development and training.

我認(rèn)為是環(huán)境的變遷。想想保險(xiǎn)與銀行的區(qū)別，以前很多從事保險(xiǎn)的工作人員是兼職工作，從業(yè)人員可能會頻繁地在行業(yè)內(nèi)部、外部進(jìn)行流動。因此，保險(xiǎn)公司往往不會像銀行那樣在教育和培訓(xùn)上投入大量的資金，而銀行的員工一般會長期留在機(jī)構(gòu)工作，他們就相對容易成為機(jī)構(gòu)發(fā)展和培訓(xùn)的一部分。

We seeing insurance companies and banks realize the value of holistic advice, and the value of having people trained to be able to look across all different financial areas of their client's lives. So increasingly, insurance companies are seeing the value of financial planning and the value of having CFP professional's work in the insurance company. We think in China is just a matter of time, of ensuring that the insurance sector understands the opportunity. Once they have enough AFP and CFP professionals in their firms, they will see the benefit that our global research has shown when financial services firms employ CFP professionals.

現(xiàn)在保險(xiǎn)公司和銀行，已經(jīng)認(rèn)識到擁有這些受過培訓(xùn)、了解客戶涉及的所有金融領(lǐng)域，并能提出全面性建議的員工的價(jià)值。同時(shí)，越來越多的保險(xiǎn)公司，意識到了金融理財(cái)服務(wù)本身的價(jià)值，以及CFP持證人對于保險(xiǎn)公司的價(jià)值。現(xiàn)在中國市場面臨的問題，是要確保保險(xiǎn)業(yè)有足夠多了解CFP資格認(rèn)證的機(jī)會，一旦這些保險(xiǎn)公司擁有足夠的AFP和CFP持證人，他們就能體會到雇傭?qū)I(yè)人士為公司帶來的好處。

國際證書為什么需要本土化？

The CFP certification is truly a global and a local program. The concept of financial planning is global, and the practice of financial planning is local. So one of the strengths of the global CFP certification program is that each of our organizations like FPSB China take the global standards the global program, and they localize it so that it is relevant for the laws, the products and the culture in China. FPSB China has done a tremendous job of taking the global program on the global standards andreally delivering them in a meaningful way here in China.

CFP資格認(rèn)證是一個(gè)全球性+本土化的項(xiàng)目。金融理財(cái)?shù)母拍钍侨蛐缘?，而具體的落地操作是要與當(dāng)?shù)丨h(huán)境結(jié)合的。所以全球CFP認(rèn)證計(jì)劃的優(yōu)點(diǎn)之一是, 我們每一個(gè)組織都像FPSB China在中國的做法一樣：遵循全球性標(biāo)準(zhǔn)、規(guī)則, 再根據(jù)當(dāng)?shù)叵嚓P(guān)法律、產(chǎn)品、文化等進(jìn)行本土化。FPSB China在遵循全球性標(biāo)準(zhǔn)上做了大量的工作，并且最終以恰當(dāng)?shù)姆绞綄FP資格認(rèn)證帶入中國。

In fact, the effort that FPSB China has done on AFP、CFP、EFP and CPB is something that many of the FPSB member organizationsin other countries are replicating, which is FPSB looking at when we go into new territories. We think that career path progression that FPSB China has putin place is a wonderful opportunity to help people at all levels of their career come to professionalism and come to CFP certification.

事實(shí)上，F(xiàn)PSB China在AFP, CFP, EFP, CPB資格認(rèn)證上所做的努力，也是其他許多國家的FPSB組織正在做的，每當(dāng)我們進(jìn)入一個(gè)全新的市場時(shí)，F(xiàn)PSB都會進(jìn)行相應(yīng)的研究——如何做好本土化。我們認(rèn)為FPSB China為學(xué)員提供的職業(yè)發(fā)展道路，是一個(gè)很好的機(jī)會，幫助各個(gè)職業(yè)層次的人，達(dá)到專業(yè)水平并且獲得CFP資格認(rèn)證。

4E體系是CFP資格認(rèn)證的基礎(chǔ)

The CFP certification is based on standards that we often referred to as the 4Es. It stands for education, examination, experience, and ethics. When it comes to education, we want to make sure that CFP professionals have mastered the body of knowledge for financial planning, not just at the global level, but in each territory where they're practicing as well. Once they have completed the education component, we then set them for an exam so they can demonstrate that they are competent to practice financial planning. We have and experience requirement because we want to make sure the individual who's going to have CFP certification has experience and is comfortable working with individuals on a day to day basis about their financial matters.

CFP認(rèn)證的基礎(chǔ)是4E體系，它代表著教育、考試、從業(yè)經(jīng)驗(yàn)和執(zhí)業(yè)道德。在教育方面，我們確保每位CFP持證人所具備的專業(yè)知識不僅是全球通用，更要適用于每個(gè)他們所在的地區(qū)和領(lǐng)域。完成了教育部分，就到了考試這一步，以此來證明他們有能力運(yùn)用這些知識進(jìn)行金融理財(cái)。我們還對持證人的從業(yè)經(jīng)驗(yàn)有要求，因?yàn)槲覀兿氪_保這些將要接受認(rèn)證的人們，對投資理財(cái)工作已經(jīng)有所認(rèn)識，并且在接下來的日子里，愿意每天與客戶、與理財(cái)問題打交道。

The education, the exam, the experience together represent the competency component of our standards.The fourth E is ethics, and in this case, we want to make sure that consumers have the ability to work with somebody who not only is competent, but it was agreed to abide by a code of ethics and will work in the client's interest. And that's why the code of ethics is such a critically important aspect of the certified financial planner program.

教育、考試、從業(yè)經(jīng)驗(yàn)這三項(xiàng)要求代表了理財(cái)師的能力構(gòu)成，而第四個(gè)E是執(zhí)業(yè)道德，因?yàn)槲覀兿Ｍ_保在未來，服務(wù)消費(fèi)者的是一個(gè)同時(shí)具有專業(yè)能力，并遵守執(zhí)業(yè)道德準(zhǔn)則的理財(cái)師，能夠真正代表客戶利益。

繼續(xù)教育的必要性

What separates education from certification is the fact that certification is a demonstration not only of competency at apoint of time, but in fact of continuing competency. When you think about financial services, it is very dynamic. A lot of things are changing and a lot of new products and services are constantly being introduced. We think it is critically important that financial planning professionals maintain their competency, so they can be sure that giving the right advice and good advice to their clients and making sure that they are staying current with changes and development in the market.

教育與認(rèn)證的區(qū)別在于，認(rèn)證不僅是一個(gè)時(shí)間點(diǎn)上的能力證明，還是持續(xù)學(xué)習(xí)能力的證明。因?yàn)榻鹑诜?wù)是動態(tài)的，其中很多元素在變化，很多新產(chǎn)品和服務(wù)在不斷被引入。所以我們認(rèn)為金融理財(cái)專業(yè)人員能夠保持（持續(xù)學(xué)習(xí)）能力，是至關(guān)重要的，才能確保他們提供給客戶的建議是好的、是正確的，才能以此證明他們緊隨變化，沒有被市場拋下。

I think a critically important part of being a professional is to have some level of self-awareness and to some level of understanding of where is the areas that you need to learn more, where is the areas that you need to refresh your knowledge and where is the area that you actually need to incorporate new into your practice. So we think a critically important aspect of being a professional, being a certified financial planner professional is to be aware of the kinds of continuing professional development you need to pursue. Then we think the opportunities that are being provided here in China where people can either get online, CPB, where they can go to conferences, where they can do teaching, they can read materials. All of that we think is incredibly relevant and it is a great opportunity to make sure that people not only come into the profession but they maintain their professionalism on behalf of the clients.

我認(rèn)為，想要在任何一個(gè)領(lǐng)域中成為精英，都需要具備一項(xiàng)能力，就是自我認(rèn)知。你應(yīng)該能意識到在當(dāng)下的現(xiàn)實(shí)環(huán)境中，自己需要拓展哪些領(lǐng)域，需要在現(xiàn)有領(lǐng)域的哪些部分刷新知識儲備。所以我們認(rèn)為，作為一名專業(yè)人士，作為一名金融理財(cái)行業(yè)內(nèi)的專業(yè)人士，一個(gè)至關(guān)重要的能力，是要意識到“我需要持續(xù)的職業(yè)發(fā)展”。我們向中國的理財(cái)師們提供了這樣的機(jī)會，比如網(wǎng)絡(luò)繼續(xù)教育課程、CPB（認(rèn)證私人銀行家）這樣的高階課程，還有一些研討會、交流會、讀書會等等。我們認(rèn)為所有這些相關(guān)活動是一個(gè)很好的機(jī)會，可以確保理財(cái)師們不僅跨進(jìn)專業(yè)的門檻，并且能夠持續(xù)增強(qiáng)他們的專業(yè)能力，進(jìn)而更好的為客戶服務(wù)。