Market Review and Trends
Assessing wannabe IFAs
By Patrick Lim  •  February 12, 2009
This past week, I have had more than my fair share of conducting face-to-face interviews with applicants wishing to join Promiseland Independent. and in the current tough economic climate, I guess there should be more people to see and therefore, I will have to schedule more of my time to line up interviews and give each and every wannabe IFA, a fair and fighting opportunity to join us. But sadly, not even one of them made it to the next round because I had to turn all of them away due to one or more of the following reasons: a. 2 of them felt the time to travel to and from their residence to our office was not 'convenient' b. 1 was not even sure of what he wanted to do c. and yet another 1 wanted to try out this 'job' first before moving to other opportunities d. another 1 could not even commit to working longer hours for a start being retrenched recently and wanted a more 'easy' start from her previous hectic pace of work e. and last but not least, an existing high producer from a fellow IFA company came with a list of demands for us to fulfill even before agreeing to an interview. And why do we insist on assessing suitability of candidates and even rejecting existing producers (including those with above average sales' records)? Read more...
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.
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