Whilst institute-school partnership have been affirmed as potentially valuable routes for the professional preparations of student teachers (Booth, Furlong & Wilkin, 1990; McCullough & Fidler, 1994), relatively less is known as to how teaching advisers perceive their roles and the impact of their collaborative relationships with student teachers on their own professional lives. This paper attempts to present the voices of four teaching advisers who participated in a mentoring scheme of an initial teacher education program in Hong Kong. Data collected through semi-structured interviews, lesson observations, and post-observation conferences present a general picture of the promises of the scheme as perceived by the teaching advisers in enhancing their own professional development, as well as challenges at the 'action' level. Findings point to the need for re-envisioning the roles and responsibilities of teachers for their own professional development as well as that of others. The paper will conclude with suggestions for fostering an effective and productive learning experience for both student teachers and teaching advisers.[Copyright © 2004 De La Salle University, Philippines.]