This is one part of a multi-part career guide series on the financial advisory career in Singapore. Various aspects will be covered in this career guide.
Are you considering a career as a financial advisor in Singapore?
Contrary to what you will be strongly advised to do, always SHOP for financial advisory firms and SHOP through managers even in the same firm, UNTIL your heart is content.
Firms will always CHASE you to join them on board because an additional person means additional sales. The sooner the better.
Do not let other people's agenda affect you.
This is a career that benefits you and your clients if you are staying for the long run.
You want to stay long enough to reap the rewards. Hence, choose your firm and manager wisely.
What are the firms out there to consider?
If you want to be an insurance agent, here are some insurance firms in Singapore:
Tokio Marine Asia Life Insurance
Friends Provident International
If you want to be a financial advisor, there are 2 types of financial advisory firms you can consider.
The most common one is the Independently Owned Financial Advisory Firm.
When you join this type of firm, you are able to broker insurance & investment products from multi-companies to your clients.
Your renumeration will be based on sales commissions.
The list is not exhaustive as there are many Independently Owned Financial Advisory Firms in Singapore:
CIMB Securities (Singapore)
Eternal Financial Advisory
GYC Financial Advisory
IPP Financial Advisers
Javelin Wealth Management
Life Planning Associates
Professional Investment Advisory Services (PIAS)
The Henley Group
The other type of financial advisory firm is the Independent Financial Adviser (IFA).
Advisors from IFA firms are also able to advise on products from multi-companies but the key difference is that these advisors can earn from fees for dispensing advice to clients.
Here are some firms which have termed themselves IFAs:
First Principal Financial
Global Financial Consultants
Jordan Huebner (Asia)
Ray Alliance Financial Advisers
Now that we have provided a shopping list for you, the next post we will be sharing with you the requirements and costs needed to become a financial advisor.
By reading this post you acknowledge that the above is based on information contributed from public sources without independent verification.
We do not assume responsibility for the accuracy or completeness of this information or such information.
You further acknowledge that you are expected not to place undue reliance on the information provided. For more accuracy, turn up for an interview with the firm to establish your own opinion. Before you do that, remember to do your due diligence by reading up on the interview prospectus.