{"id":270443,"date":"2023-03-06T16:38:10","date_gmt":"2023-03-06T08:38:10","guid":{"rendered":"https:\/\/thehoneycombers.com\/singapore\/?p=270443"},"modified":"2023-03-06T16:38:10","modified_gmt":"2023-03-06T08:38:10","slug":"misconceptions-financial-advisors-singapore","status":"publish","type":"post","link":"https:\/\/thehoneycombers.com\/singapore\/misconceptions-financial-advisors-singapore\/","title":{"rendered":"More than just a sales pitch: How financial advisors in Singapore find purpose in a misunderstood profession"},"content":{"rendered":"<p>Picture this: you receive a message from a <a href=\"https:\/\/thehoneycombers.com\/singapore\/making-and-maintaining-friendships-singapore\/\">friend<\/a> you haven&#8217;t heard from in years. You\u2019re thrilled to reconnect\u2026 until you realise they\u2019ve just embarked on a career in financial advisory. You wonder if they\u2019re really reaching out to catch up, or if they\u2019re looking for a sales opportunity. If this sounds familiar, it\u2019s because many of us have experienced this with financial advisors (FAs) in Singapore. Just take a look at this recent post by local social media and news site SGAG:<\/p>\n<div class=\"\">\n<blockquote class=\"instagram-media\" data-instgrm-captioned data-instgrm-permalink=\"https:\/\/www.instagram.com\/p\/CpaA2iSPq7x\/?utm_source=ig_embed&amp;utm_campaign=loading\" data-instgrm-version=\"14\" style=\" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:500px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);\">\n<div style=\"padding:16px;\"> <a href=\"https:\/\/www.instagram.com\/p\/CpaA2iSPq7x\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;\" target=\"_blank\"> <\/p>\n<div style=\" display: flex; flex-direction: row; align-items: center;\">\n<div style=\"background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;\"><\/div>\n<div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center;\">\n<div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;\"><\/div>\n<div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;\"><\/div>\n<\/div>\n<\/div>\n<div style=\"padding: 19% 0;\"><\/div>\n<div style=\"display:block; height:50px; margin:0 auto 12px; width:50px;\"><svg width=\"50px\" height=\"50px\" viewBox=\"0 0 60 60\" version=\"1.1\" xmlns=\"https:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"https:\/\/www.w3.org\/1999\/xlink\"><g stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\"><g transform=\"translate(-511.000000, -20.000000)\" fill=\"#000000\"><g><path d=\"M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631\"><\/path><\/g><\/g><\/g><\/svg><\/div>\n<div style=\"padding-top: 8px;\">\n<div style=\" color:#3897f0; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;\">View this post on Instagram<\/div>\n<\/div>\n<div style=\"padding: 12.5% 0;\"><\/div>\n<div style=\"display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;\">\n<div>\n<div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);\"><\/div>\n<div style=\"background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;\"><\/div>\n<div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);\"><\/div>\n<\/div>\n<div style=\"margin-left: 8px;\">\n<div style=\" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;\"><\/div>\n<div style=\" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)\"><\/div>\n<\/div>\n<div style=\"margin-left: auto;\">\n<div style=\" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);\"><\/div>\n<div style=\" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);\"><\/div>\n<div style=\" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);\"><\/div>\n<\/div>\n<\/div>\n<div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;\">\n<div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;\"><\/div>\n<div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;\"><\/div>\n<\/div>\n<p><\/a><\/p>\n<p style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;\"><a href=\"https:\/\/www.instagram.com\/p\/CpaA2iSPq7x\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;\" target=\"_blank\">A post shared by SGAG (@sgagsg)<\/a><\/p>\n<\/div>\n<\/blockquote>\n<p><script async src=\"\/\/platform.instagram.com\/en_US\/embeds.js\"><\/script><\/div>\n<p>But is it fair to paint all FAs with the same brush? Are they really all just out for our <a href=\"https:\/\/thehoneycombers.com\/singapore\/managing-money-singapore\/\">money<\/a>, or is there more to the story? We sit down with some local financial advisors to get the inside scoop.<\/p>\n<h2>Financial advisors in Singapore: Not everyone is a bad apple<\/h2>\n<figure id=\"attachment_270448\" aria-describedby=\"caption-attachment-270448\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-medium wp-image-270448 lazyload\" data-src=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Mizzu-Cho-via-Pexels-_-financial-advisors-in-singapore-900x643.jpg\" alt=\"not everyone is a bad apple | financial advisors in singapore\" width=\"900\" height=\"643\" data-srcset=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Mizzu-Cho-via-Pexels-_-financial-advisors-in-singapore-900x643.jpg 900w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Mizzu-Cho-via-Pexels-_-financial-advisors-in-singapore-768x549.jpg 768w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Mizzu-Cho-via-Pexels-_-financial-advisors-in-singapore.jpg 1400w\" data-sizes=\"(max-width: 900px) 100vw, 900px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 900px; --smush-placeholder-aspect-ratio: 900\/643;\" \/><figcaption id=\"caption-attachment-270448\" class=\"wp-caption-text\">Photography: Mizzu Cho via Pexels<\/figcaption><\/figure>\n<p>Financial advisors aren\u2019t strangers to the fact that they have a less-than-stellar reputation. They know we think of them as pushy salespeople who resort to shady tactics to get their hands on our hard-earned cash. Some even joke we should be just as wary of financial advisors on <a href=\"https:\/\/thehoneycombers.com\/singapore\/dating-in-singapore-apps-events\/\">dating apps<\/a> as we are of catfishers.<\/p>\n<p>Jarrod Wong, a senior wealth management consultant at <a href=\"https:\/\/www.tallrockcapital.com\/\" rel=\"nofollow\">TallRock Capital<\/a>, acknowledges that there\u2019s a genuine stigma associated with the role. When he began his career as an undergraduate, he received numerous comments such as, \u201cAre you here to sell me something and vanish?\u201d or &#8220;Are you suggesting the most expensive product to earn money from me?&#8221;. Even family members of clients have questioned his age and trustworthiness. However, he strongly maintains that these misconceptions are simply part of the job; anyone passionate about this field of work will encounter them.<\/p>\n<p>Similarly, Tiffany Ow, associate director of sales at <a href=\"https:\/\/www.manulifefa.com.sg\/\" rel=\"nofollow\">Manulife Financial Advisers<\/a>, also faced initial shunning at the start of her career. She recalls, \u201cI\u2019d get \u2018blue-ticked\u2019 by friends who chose to distance themselves from me after I joined the industry. At street canvassing or roadshows, people would directly reject me.\u201d Yet she doesn\u2019t blame Singaporeans for their negative perception of FAs. She explains that financial advisory has earned a bad name thanks to dishonourable individuals who abuse their clients&#8217; trust.<\/p>\n<p>\u201c[These misconceptions] are true for some individuals who join this profession thinking it\u2019s an easy way to earn money,\u201d says Sumit Tiwari, a certified affluent wealth manager and estate planner. Even he has been approached by &#8220;experienced&#8221; advisors who clearly didn\u2019t have his best interests at heart.<\/p>\n<p>This behaviour is particularly common among new financial advisors in Singapore who feel pressured to meet their targets. Or even experienced advisors who take on too much debt to finance their extravagant lifestyles. &#8220;When they stop working and loan payments are due, they may resort to questionable tactics to acquire new clients or take advantage of existing ones,&#8221; Jarrod explains.<\/p>\n<p>But as Sumit points out, every profession has its bad apples. The key is to find the ones who are truly passionate about helping clients achieve their financial goals.<\/p>\n<h3>Weeding out the black sheep<\/h3>\n<figure id=\"attachment_270449\" aria-describedby=\"caption-attachment-270449\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-medium wp-image-270449 lazyload\" data-src=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Luke-Stackpoole-via-Unsplash-_-financial-advisors-in-singapore-900x643.jpg\" alt=\"weeding out the black sheep _ financial advisors in singapore\" width=\"900\" height=\"643\" data-srcset=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Luke-Stackpoole-via-Unsplash-_-financial-advisors-in-singapore-900x643.jpg 900w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Luke-Stackpoole-via-Unsplash-_-financial-advisors-in-singapore-768x549.jpg 768w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Luke-Stackpoole-via-Unsplash-_-financial-advisors-in-singapore.jpg 1400w\" data-sizes=\"(max-width: 900px) 100vw, 900px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 900px; --smush-placeholder-aspect-ratio: 900\/643;\" \/><figcaption id=\"caption-attachment-270449\" class=\"wp-caption-text\">Photography: Luke Stackpoole via Unsplash<\/figcaption><\/figure>\n<p>So, how can you suss out shady financial advisors in Singapore? According to the trio, the biggest red flag is if you feel pressured to sign a policy during the very first meeting. &#8220;Consider this: the advisor probably doesn&#8217;t know your financial background, your goals, and what you&#8217;re aiming for. It&#8217;s suspicious that they can come up with a recommendation so quickly,&#8221; Jarrod says.<\/p>\n<p>For Tiffany, the best way to identify untrustworthy advisors is to decline their first proposal and tell them you&#8217;ll think about it. &#8220;Observe their reaction to your response,&#8221; she explains. &#8220;It can reveal a lot about their intentions. If they&#8217;re just focused on making a sale, they&#8217;ll try to force the decision. However, if they genuinely care about your best interests, they&#8217;ll prioritise learning more about your thought process.&#8221;<\/p>\n<p>Sumit points out other warning signs such as only being presented with the advantages of a product and not its disadvantages; or receiving a pricey quotation without any justification or explanation.<\/p>\n<p>Jarrod suggests meeting with an advisor at least three times to ensure they understand your needs and goals. This can also give you ample time to consider the recommendations. &#8220;During the first meeting, I get to know the client&#8217;s needs, and they learn about the services I provide. In the second meeting, I present my recommendations. Finally, the last meeting is for administrative paperwork. Each advisor has their own approach, but this is how I prefer to operate.&#8221;<\/p>\n<h3>Chasing purpose in a misunderstood profession<\/h3>\n<figure id=\"attachment_270450\" aria-describedby=\"caption-attachment-270450\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-medium wp-image-270450 lazyload\" data-src=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-_-chasing-purpose-in-a-misunderstood-profession-900x643.png\" alt=\"financial advisors in singapore _ chasing purpose in a misunderstood profession\" width=\"900\" height=\"643\" data-srcset=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-_-chasing-purpose-in-a-misunderstood-profession-900x643.png 900w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-_-chasing-purpose-in-a-misunderstood-profession-768x549.png 768w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-_-chasing-purpose-in-a-misunderstood-profession.png 1386w\" data-sizes=\"(max-width: 900px) 100vw, 900px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 900px; --smush-placeholder-aspect-ratio: 900\/643;\" \/><figcaption id=\"caption-attachment-270450\" class=\"wp-caption-text\">Tiffany and her team of motivated financial advisors. Photography: Tiffany Ow<\/figcaption><\/figure>\n<p>After all that\u2019s said, it\u2019s still easy to assume that the allure of money outweighs the potential damage to the reputation of financial advisors in Singapore. But after chatting with Jarrod, Tiffany, and Sumit, I discover a common thread that runs through them: a genuine desire to make a positive impact in their clients&#8217; lives. This is what drives them to excel in their role.<\/p>\n<p>Tiffany&#8217;s journey began after graduating from university in 2018. \u201cI wanted a career where I could be in control of my future while contributing to society,\u201d she says. \u201cThe immense value [financial advisors] bring to people was something I strongly believed in, and could see myself doing for a lifetime.\u201d<\/p>\n<p>As an opportunistic undergraduate, Jarrod admits he initially leaned towards the profession for its money-making potential. But this changed quickly when he realised the severe gap in financial literacy among many Singaporeans. \u201cMost clients I\u2019ve met don\u2019t have a full understanding of their portfolio or even the changes in policies in Singapore,\u201d he says. Now, he strives to be their go-to guy for all things finance-related, taking pride in being a trusted source of knowledge.<\/p>\n<p>Sumit was motivated to join the profession to assist clients, challenge himself and develop his expertise. For him, the diverse role that financial advisors can take on \u2013 from wealth and risk management to estate planning \u2013 keeps things interesting and allows him to provide solutions to real-world problems.<\/p>\n<h3>Fighting the stigma<\/h3>\n<figure id=\"attachment_270451\" aria-describedby=\"caption-attachment-270451\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-medium wp-image-270451 lazyload\" data-src=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Austin-Distel-via-Unsplash-financial-advisors-in-singapore-900x643.jpg\" alt=\"fighting the stigma | financial advisors in singapore\" width=\"900\" height=\"643\" data-srcset=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Austin-Distel-via-Unsplash-financial-advisors-in-singapore-900x643.jpg 900w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Austin-Distel-via-Unsplash-financial-advisors-in-singapore-768x549.jpg 768w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/Austin-Distel-via-Unsplash-financial-advisors-in-singapore.jpg 1400w\" data-sizes=\"(max-width: 900px) 100vw, 900px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 900px; --smush-placeholder-aspect-ratio: 900\/643;\" \/><figcaption id=\"caption-attachment-270451\" class=\"wp-caption-text\">Photography: Austin Distel via Unsplash<\/figcaption><\/figure>\n<p>It&#8217;s possible that we may see a shift in the perception of this career. A recent survey by St. James\u2019s Place showed that 80% of Singaporeans prioritise seeking financial advice before a major decision \u2013 especially after the pandemic. Ultimately, Tiffany, Jarrod, and Sumit agree that the best way to combat the stigma is to build strong connections and genuinely care for the well-being of their clients.<\/p>\n<p>As Tiffany puts it, &#8220;I take time to understand the people I work with \u2013 their needs, desires, goals, and aspirations. It&#8217;s important to recognise that clients entrust their finances, families, and futures to us, so we need to have their backs,&#8221; she shares. For her, one of the most rewarding moments in her career was helping a senior client with her retirement plan. This brought them closer, and now they even enjoy bowling outings together.<\/p>\n<p>Jarrod stresses the importance of being authentic and honest. He notes that if a stranger on the street asked about your finances, you likely wouldn&#8217;t divulge all the details immediately. It takes time to establish trust, and it&#8217;s important to understand clients&#8217; objectives. He urges his fellow advisors not to let monetary incentives cloud their judgment \u2013 not every conversation has to lead to a sale.<\/p>\n<p>Sumit believes that clients want to feel cared for, rather than viewed as a money tree. He builds real relationships with clients by establishing boundaries between personal and business conversations.<\/p>\n<p>\u201cIf it\u2019s for a good meal, I make it clear that there\u2019ll be no talk of business. When it\u2019s a business appointment, we\u2019ll only talk about that and nothing else.\u201d He tells me he has over a hundred clients and knows more about their lives and aspirations than their own family members. This strong bond allows him to suggest the appropriate policies to help them in tough situations, like saving a client from losing a $150,000 retirement fund.<\/p>\n<h3>What does it take to be a great financial advisor?<\/h3>\n<figure id=\"attachment_270461\" aria-describedby=\"caption-attachment-270461\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-medium wp-image-270461 lazyload\" data-src=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-Kindel-Media-via-Pexels-2-900x640.png\" alt=\"financial advisors in singapore | what it takes to be a financial advisor\" width=\"900\" height=\"640\" data-srcset=\"https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-Kindel-Media-via-Pexels-2-900x640.png 900w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-Kindel-Media-via-Pexels-2-1400x996.png 1400w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-Kindel-Media-via-Pexels-2-768x546.png 768w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-Kindel-Media-via-Pexels-2-1536x1092.png 1536w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-Kindel-Media-via-Pexels-2-2048x1456.png 2048w, https:\/\/static.thehoneycombers.com\/wp-content\/uploads\/sites\/2\/2023\/03\/financial-advisors-in-singapore-Kindel-Media-via-Pexels-2.png 1406w\" data-sizes=\"(max-width: 900px) 100vw, 900px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 900px; --smush-placeholder-aspect-ratio: 900\/640;\" \/><figcaption id=\"caption-attachment-270461\" class=\"wp-caption-text\">Photography: Kindel Media via Pexels<\/figcaption><\/figure>\n<p>Think you have what it takes to succeed? If your sole motivation is money, this job isn\u2019t for you.<\/p>\n<p>\u201cBuilding trust takes time, and it&#8217;s essential to understand why you want to work in this field,\u201d Jarrod says. Financial advisors provide a human element that sets them apart from alternatives like robo-advisors. They can\u2019t simply walk away from their responsibilities, and they must be there for their clients \u2013 even during life changes.<\/p>\n<p>Sumit cautions those who are considering entering the field part-time or on an ad-hoc basis. He stresses that every dollar matters to the client. As financial advisors, you need to genuinely care for your client regardless of income earned. Empathy for the individual is the most important quality to have, even if clients don&#8217;t always follow your advice.<\/p>\n<p>The decision to trust financial advisors isn\u2019t an easy one. A wrong move can end badly for your bank account (yikes). But it&#8217;s important to recognise that while not all advisors are created equal, some are dedicated to your best interests.<\/p>\n<p>These are the ones who can help you hit your personal goals, such as buying a home, planning for retirement, or even strengthening your finances to withstand a world-crushing pandemic. In essence: exercise caution, but don\u2019t throw the baby out with the bathwater! It\u2019s still best to get professional advice to build a secure future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Picture this: you receive a message from a friend you haven&#8217;t heard from in years. You\u2019re thrilled to reconnect\u2026 until you realise they\u2019ve just embarked on a career in financial advisory. You wonder if they\u2019re really reaching out to catch up, or if they\u2019re looking for a sales opportunity. If this sounds familiar, it\u2019s because [&hellip;]<\/p>\n","protected":false},"author":107571,"featured_media":270447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[137317],"tags":[145703,145710],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.7 (Yoast SEO v23.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>We debunk myths about financial advisors in Singapore | Honeycombers<\/title>\n<meta name=\"description\" content=\"Think all financial advisors in Singapore are out for your money? 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