Why are these financial services companies offering trading consultancy and trade fair assistance?
In Hong Kong and Asia, much like the rest of the world, the financial services market is very competitive. Recently there have been many new start-up companies in the wake of the global financial crisis pertaining to offer you the best wealth management and financial services. These companies are mainly made up of individuals with a rich financial or legal background with a wealth of knowledge in the finance industries.
Many of them were made redundant by banks and investment firms or got out while the going was good. With the increasing number of these firms it is difficult to know who to trust, who to listen to and who to avoid. When it comes to trade and manufacturing issues, its best to look to people within the industry to get a clearer understanding of what is needed.
The Hook
Because of the increased competitiveness in the Asian financial services industry, some of these firms are looking further afield to find more revenue and work. As discussed in Part One, I have seen these ‘trade fair assistance services’ advertised and promoted by a number of local finance service firms and I wonder what extra they could offer over a local/international trading firm.
As far as I can see the answer is nothing. Based on the above case study, the client was given the bare minimum information they needed that they could have done themselves with very little extra effort and no extra cost. This is advertised as such to engage and find new clients to sign up to their own core financial services afterwards. For basically no extra effort and insight from companies like this you are getting no extra value for your money and instead, lining yourself up for a hard sell on:
• Incorporation of Hong Kong or China companies
• Virtual CFO
• Company Secretarial Services
• Visa Assistance
• Trademark Registration
• Tax Efficiency Structures
• Offshore Banking Setups
• Wealth Management
This is useful if you are considering setting up in Hong Kong or China, need tax efficiency structures or need financial services. However, for trade fair visitors, we go to look for products, suppliers and better solutions for our products.
Trade fair assistance is only truly valuable to you if you can have access to that extra local and international industry knowledge, trusted suppliers, extensive local experience and ability for solving technical and manufacturing issues. A trading company or trade consultancy would clearly offer the stronger partnership and assistance at a trade fair. This is vital if you look for trade assistance services.
Enjoy this, have you read Part One?
Also, check out our overview of trade fair assistance services.
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