Vietnam Wealth Management Forum 2019 - Highlights - Kenneth Atkinson

Kenneth Atkinson of Grant Thornton

Sep 19, 2019

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1. What are the challenges and opportunities for this industry?

Video transcript

1. What are the challenges and opportunities for this industry?

Let's start with the challenges, because I think building up the relationships and the trust of Vietnamese individuals and families, particularly to foreign wealth advisors, can be quite challenging because they want to deal with people they know, thus building that trust. So, if you're flying in and out every two or three months, that's not going to be a really effective way to build that trust. Then there's the issue, domestically, of trying to build a profession and have it regulated because there are some good wealth advisors here from overseas that are working for companies that are regulated, but there also a lot of people that are here working for companies which are based in unregulated environments and they haven't exactly showered themselves in glory over the years. So, I think we need to start developing a local profession of wealth advisors; that regulated people get proper training and realise that the importance and the fiduciary responsibilities that they are actually taking on.

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