Hong Kong Chinese prefer family to IFA advice

ZIL Wealth Monitor research, probing into attitudes and financial plans of high-earning Hong Kong Chinese people, found 54% of those surveyed turn to friends and family for financial guidance instead of seeking professional advice. Only 7% cited cost as a reason for avoiding professional independent financial advice, while the survey found 33% of people do not to use an IFA as they prefer seeking advice from friends and family or relying on their own judgment. However, the research also revealed that 30% of those surveyed seek financial advice from insurance agents, 36% turn to agents f...