Financial solutions reflect is caring approach and underpin goals of life

To every individual, what he or she aspires in life is an important element of their professional and personal existence. But to reach their goals and fulfill their aspirations, they ought to have financial security, in good times and in challenging times.

One company understands the importance of a financial foundation that underpins those dreams better than most. Altruist Financial Group Limited (Altruist), founded by President Mr Albert Lam, a pioneer in transforming an insurance agency to an independent financial advisor, has for more than a decade provided independent, impartial advice to thousands in pursing their life goals.

Chief Operation Officer Glenn Turner says health, family, career, and personal interests are the four factors that are most important to people, although the order of priority could change from one person to another.

Often, he says, important things in life would be built upon a solid financial foundation. But until what is important has been identified, the financial aspect takes a back seat, he points out. 

He says that what is important is the individual’s life goals, and financial planning underpins those objectives.

“This sets the stage for the way in which Altruist approaches its interaction and dialogue with people. Financial planning is the subset. This is one thing that differentiates us from other financial institutions,’’ Mr Turner explains.

Before a product solution is discussed and outlined for an individual, Altruist examines four steps, Mr Turner says. It begins with a fact-finding exercise, then a solution is planned, before proceeding to an interview with the person and necessary modifications. And then, an appropriate financial solution is drawn up.

And over the past decade, Altruist has not only helped to transform the lives of many men and women, but also shaped Hong Kong’s financial planning industry along the way. Altruist, the industry pioneer, has been heavily engaged in the industry and driven its evolution.

This is partly reflected in the many roles that Mr. Turner himself plays. He chairs the Independent Financial Advisors Association, and is a general committee member of The Hong Kong Confederation of Insurance Brokers, Insurance Management Committee of the Hong Kong Management Association, among other organizations.

“Altruist is heavily represented in all these organizations with our personnel being involved at the executive level of these organizations. We are actually helping to drive the industry forward,’’ Mr Turner elaborates. “We are directly involved in the regulatory shaping of the financial planning or insurance broker community.’’

Altruist has also obtained membership with other industry organizations such as the General Agents & Managers Association of Hong Kong, Life Underwriter Association of Hong Kong, The Institute of Financial Planners of Hong Kong Limited, Hong Kong Confederation of Insurance Brokers, Independent Financial Advisors Association Limited, Life Insurance Marketing and Research Association, and Hong Kong Management Association Insurance Management Committee.

Sometimes, Altruist’s involvement in the industry stands out, as is the case with the Life Insurance and Marketing Research Association, an American based research and educational body, where Altruist is represented as the only broker. “In Hong Kong, we are on the executive board. Around the world, there are 950 life company members of LIMRA and only one broker – that is us,’’ Mr Turner says with pride. Altruist also takes pride in its caring approach to employees, its clients, and society.

In caring for employees, Altruist raises awareness of core values of families and helps foster a culture of loving families. Altruist provides marriage leave, compassionate leave, paternity leave, birthday leave, examination leave, exam subsidy, and organizes different social gatherings and activities for colleagues. These initiatives have earned the company the Family-Friendly Employer Award 2011. Altruist demonstrates its caring approach to society by actively participating in charities and fund-raising projects such as the Walk for Millions, scholarships for Hong Kong Polytechnic University and Kwantlen Polytechnic University Foundation (in Canada), voluntary services such as blood donation days, flag selling days, charity sales and other volunteer activities.

And importantly, Altruist shows that it cares for clients by providing a comprehensive one-stop financial shop to meet diverse needs. The Wealth, Health, Wisdom concept is a key part of this. There are different financial products to support Wealth, while health checks and health seminars are offered to protect the Health of clients. And Wisdom is offered through various seminars and workshops on themes such as career matching, and financial quotient workshops that enhance the understanding of candidates as well as of professional financial planning concepts. As a result clients become wise consumers.

Mr Turner says Altruist looks at service as its reason for being and sees the sale as only a stepping stone to service. “We think of service differently to most of the industry.’’

FAST FACTS

• Members of professional affiliations: CIB, IFPHK, IFAA, LIMRA, LUA, GAMA, MPFA, SFC

• Exclusive distribution right from CIGNA & Standard Life on its variable life product

• Caring company Logo (2003-2011)

• Hong Kong Business High Flyers (2005-2009, 2011)

• First joint venture insurance company license in Shenzhen & Ningbo,

• Family Friendly Award (2011)