Written by Wilfred Ling Tuesday, 14 June 2011

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Someone asked me whether only high networth clients are meeting me since it appears that only high networth individuals would want to pay fees for financial planning. Actually, most of my clients are neither very rich nor very poor. I guess it is because those who are very poor can appeal to their MPs and eventually get some form of government assistance. For those who are very rich, they probably feel they are doing well (which are often not the case but who cares since they cannot be bothered) and so do not feel the need to seek an independent financial advice. Moreover, the very rich are often sold get-quick-rich-toxic-waste investments which I have nothing of that sort to sell. So the very rich are not coming to me too. However, most of my clients are the sandwich groups. This is …