Written by Wilfred Ling  Friday, 31 August 2012

In recent times, I keep on hearing clients who attended talks or read books relating to financial planning. I am quite troubled on the kind of lessons they learn because some of these self-professed trainers and authors do not have any first-hand experience in dealing with people’s lives. Most trainers and authors are either highly theoretical or their practical experiences are based on a small sample size which is usually their own personal experience (i.e. sample size = 1). What is troubling is they are not accountable to the consequences of their advice given to their readers and audiences. I want to point out some pitfalls when learning from self-professed but unregulated planners:

  1. Seminars and training are unregulated in Singapore. Anyone can give a seminar on financial planning such as forex trading, budgeting, property, stocks, etc. The speaker does not …