Here is a commentary on what Chinese Americans typically look for when it comes to choosing a financial service provider.

This article comes from Wendy Huang, who is chief executive of the China Success Institute, was born and raised in China and graduated from Northwestern University. Nicknamed “The China Success Coach” Huang coaches executives and professionals for success in Chinese language and culture. She is the author of the upcoming book Win in China – Strategies and Tactics to Capture the World's Most Fascinating Market.

Family Wealth Report welcomes any commentary and responses from readers.

Everyone takes special care when selecting financial service providers; after all, it’s extremely important to choose a person whom one feels one can trust with one's finances. As a result, providers take special care to appeal to clients in every way possible to grow their business. However, everyone is different, and qualities or behaviors that appeal to some potential clients may drive others away. For financial service providers, the key has become targeting a niche and appealing to those within that set of clients.

One burgeoning niche that is catching the eye of financial service providers is that of Chinese Americans. High net worth Chinese citizens are immigrating to the US, as are many successful companies: in 2012, the Wall Street Journal cited the rise of Chinese companies moving their operations to the US, a trend that has continued over the last several years. These individuals and companies are in need of financial services, due in part to the complicated nature of US tax laws. So, what do they look for in their financial service providers, and how might those providers best match their new clients’ needs?

Here are the five top criteria by which Chinese Americans select financial service providers:

Education is key. Education and hard work are highly valued in the Chinese culture. These values are instilled early, during childhood, and are deeply ingrained. A financial service provider’s work experience and where they received their education will be important factors in their selection by Chinese American clients.

“No is as important as yes.” Chinese Americans want to know what they should avoid investing in, just as much as those investments they should make. They evaluate their financial advisors regarding both aspects of investment advice, both in terms of the provider’s proficiency at the job, and in regard to how well the provider knows and understands them as a client. In fact, high net worth Chinese Americans may pay even greater attention to what investments a financial service provider tells them to avoid.

Social behavior is extremely important. Everyone wants to feel they really know their financial service providers, but Chinese Americans truly take this to heart. Social decorum makes up a large portion of the way they evaluate business relationships, so a potential financial advisor may be “tested” in a number of situations outside of an office or meeting room. These might include meals, a game of Mahjong, or even traveling together so they can feel they know the candidate well enough to trust them with their finances.

One must express value quickly. Many Chinese Americans have a more “do-it-yourself” mentality and believe they can invest and manage their finances without assistance, much to the chagrin of financial advisors. However, this creates an opportunity for those financial service providers who can express why they are necessary. Those who have the ability to explain, in a concise manner, how they can add value will be most successful at securing Chinese American clients.

Knowledge comes above all else. Expertise is the ultimate way to level a playing field. Generally, Chinese Americans are brought up in a culture that maintains high respect for authority and knowledge.

As discussed in the first point on the list above, as a culture they invest a good deal in education; in fact, according to a 2013 article in the New York Times entitled “In China, Some Families Bet It All On A Child In College”, some families invest nearly everything. The cultural stress on education and its influence on the rest of one’s life is so great that if a financial advisor has the approach of a teacher and authority figure, they are more likely to gain the respect and patronage of Chinese American clients.

Chinese American clients can bring financial service providers valuable business. Securing these clients is merely a matter of expressing one’s own value, gaining their respect, and building trust. The result will be a mutually beneficial relationship for years to come.