IFA Fee Models
Ever since I started as an Independent Financial Adviser practice, I’ve probably heard of complains from clients that their “advisers” do not contact them at all until there is a new product to sell to them. These clients often felt that their “advisers” were just out to make money and after that, no more after sales service. For the answer the crux of this problem lies...
November 12th, 2009
What IFA?
Dear all, Let’s take a look so far at the IFA industry in Singapore. Unfortunately we are still within the infancy stages of true IFA-ness… Compared to the likes of countries such as Australia, Canada or the UK. IFA here in Singapore is relatively new and unheard of. Only really established their foothold since 2002, the industry has come a long way. Most often what is the first thing some...
April 21st, 2009
IFA
What is an IFA (Independent Financial Adviser)? I wrote about my trip down to one of these firms last year (click here to view that article) So I’ve been blessed to have a top-notch financial adviser to give us some thorough inputs into what is IFAs and what do they provide. He is Mr. Luc Tai, who is an independent financial adviser with a top firm in Singapore. He has an MBA from NIMBAS (one...
April 5th, 2009
IFAs- Review
Hi all, Just went with one of my friends to pay a visit to a IFA firm. Today’s trip was to Alpha Financial Adviser. here’s their logo. A bit of their background, it is a subsidiary of Great Eastern Holdings and a Member of the OCBC Group that does financial planning. Started their practise around 2004 and has been around since. The advisor servicing my friend was a nice guy, he seemed...
October 31st, 2008
Independent Financial Advisory in Singapore ~ Part 1
Hi all, Here’s a breakdown on being a Financial Adviser (FA) within Singapore. Uniquely we all know that banks, insurance companies, finance companies, brokerage houses etc do give some form of financial advisory, hence they are classified as exempt FAs. But why is it known as exempt FA? Let us then explore what is ‘Independent’ Financial Advisers (IFA). Under the Monetary Authority...
October 23rd, 2008