Insurance
Independence, Ethics and Competency
By Sethisfy  •  August 16, 2011
Having experienced both a tied agency environment as well as an Independent one, I can proclaim that the Independent distribution model is still the best for clients. As I have read in an online forum, “all good financial advisers are IFA”, which reflects my sentiments. The person who wrote this line also quickly followed up in the same sentence – ” but not all IFA are good financial advisers”. This cannot be further away from the truth. One would be hasty to conclude that his adviser is a good one just because he is Independent. On the same online forum, I recently discovered that even an IFA representative does not even know the difference between a rider that pays a Total and Permanent Disability (TPD) benefit from Disability Income Insurance! Such a mistake is easily made by a layperson. This is perfectly understandable as the terms may seem confusing. For ......
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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.
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