Financial advisor in Hong Kong HOWARD CLARK-BURTON, the CEO of BMP Wealth, outlines the important times in your life when you could benefit from seeking help. To get advice on how to protect your wealth, help manage your personal finances and help build long-term financial security.
Why consider going to a financial advisor in Hong Kong?
You probably make financial decisions every day – from how much you spend on your lunch to whether you take a cab or walk home.
Yet, there are likely to be certain times in your life when events occur that could significantly change your financial situation and your ability to achieve your long-term goals. At these turning points, you may need to make big decisions about how you manage your wealth. Obtaining financial advice from an experienced professional could prove invaluable in helping you to make informed choices and adjust your financial plan.
Unfortunately, all too often we meet clients who have delayed seeking advice and as a result, have limited options for making the most of their wealth. That’s why we’d always recommend working with a financial planner or financial advisor in Hong Kong over the long term, to ensure that you’re prepared to cope with any changes in your circumstances, be they planned or unexpected.
While there are countless times when a financial advisor in Hong Kong could be useful, read on to discover examples of seven life stages where regular financial advice may help you feel better able to cope. (There are many more too!)
#1 Changes to personal finance getting married or having children
Both of these life events are likely to mean taking on extra financial responsibilities. As such, you may benefit from seeking advice about matters such as:
- Budgeting as a family or a couple.
- Merging your personal finances, or managing separate budgets.
- Understanding your future financial goals, and taking steps towards achieving them.
- Taking out adequate protection to ensure that your loved ones are provided for if something unexpected happens.
You might also be concerned about planning for your children’s future. While you may be able to pay school fees from your income, funding university education requires careful planning.
According to a report by Young Post, tuition fees for higher education in Hong Kong will increase by a total of 17.6 percent between 2025 and 2027. Sadly, the rising costs of higher education across the world typically outpace inflation. By reaching out for professional advice or to a financial advisor, you could create a savings and investment strategy for funding such costs.
#2 Divorce
If you’re getting divorced, there are a lot of financial considerations to think about – from covering your legal costs and separating your assets, to amending your retirement and estate plans.
A financial planner can use cashflow modelling to show you what your future financial situation might be following your settlement. With this invaluable insight, you can then take control of your wealth before, during and following your divorce.
# 3 Coming to or leaving Hong Kong
According to research published by MoneyWeek, 21 percent of people in the UK are considering relocating to more tax-friendly locations following the tax rises introduced in the 2024 Autumn Budget. As a comparatively low tax environment, Hong Kong might be an attractive option for individuals leaving the UK and other higher tax locations.
If you’re moving to Hong Kong, a financial planner can help you put the right strategies in place to make the most of a potential increase in your disposable income. This could provide an excellent opportunity to maximise the accumulation of personal wealth, rather than spending most of your disposable income on day-to-day living. A financial advisor or professional can also ensure that you’re complying with any rules that apply to you, such as setting up a Mandatory Provident Fund (MPF) – a savings scheme for retirement that is compulsory for Hong Kong residents.
On the other hand, if you’re leaving Hong Kong and returning to a higher tax jurisdiction, a financial professional can help you plan before you go, such as using tax wrapper structures to protect your wealth.
#4 Changing jobs
A new job could mean that you need to adapt to a different level of income. Careful personal finance planning could allow you to make the most of an increase in salary by investing wisely and managing your wealth tax-efficiently. If your income falls, financial advice may be the key to effective budgeting and keeping your long-term plans on track.
It’s also important to check your new employee benefits package and make up any shortfall with personal plans. A financial advisor or planner can help you explore the different options for doing this, such as using tax-efficient offshore products.
#5 Pre- and post-retirement
The earlier you start saving for retirement, the more time you’re likely to have to accumulate the wealth you need. With the right financial advice, you can create a savings and investment strategy that aligns with your goals, timeline and attitude to risk. In contrast, it may be much harder to build the funds you need for the lifestyle you desire if you wait until you’re a few years away from retirement before seeking advice. You need time to benefit from the potentially powerful effect of compounding investment returns.
You’ll also need to think carefully about how you’ll draw down money during your retirement to ensure that your wealth lasts and that you can fulfil all your goals – be they to travel the world or fund your child’s wedding.
#6 Inheriting wealth
Many of our clients come to us for advice after they have received a significant inheritance. In fact, figures published by Vanguard have revealed that a projected $18.3 trillion of wealth will be passed to the next generation globally by 2030, as part of the Great Wealth Transfer. Any unexpected change to your financial situation could feel overwhelming, especially if you’re also coping with a bereavement.
A financial advisor or planner could play a crucial role in supporting you in deciding how to use your inherited wealth, be that to clear your debts or invest for the long term. They can also help you to understand and plan for the potential tax implications of inheriting.
#7 Bereavement
Losing a loved one might not only leave you with an inheritance to manage, but it could also mean that you need to revise various aspects of your financial plan. For example, if your spouse or civil partner dies, you may want or need to adjust your estate plan.
A bereavement might also start you thinking about your own personal finance and vulnerabilities. As such, you might decide to review and update your financial protection. However, as already mentioned, we recommend not waiting for a significant life event to occur before you speak to a financial planner. While no one can predict what’s around the corner, seeking regular advice could help you cope with any financial shocks if they arise.
For help with financial planning at all stages of life, email info@bmpwealth.com, call 2905 9041 or scan the QR code to visit the website.
This article about getting help from a financial advisor in Hong Kong first appeared in the Spring 2025 issue of Expat Living magazine. Subscribe now so you never miss an issue!
Also, find more interesting articles about personal finance in our Work & Finance section.
