Archive

Wilfred Ling

Finance & Insurance worst in productivity

May 18, 2012 by Wilfred Ling
Written by Wilfred Ling    Friday, 18 May 2012 In the latest statistics from MTI, Finance & Insurance industry suffered the worst productivity of -4.8% for the 2012 first quarter. Sharing the worst spot was from the Infocomm. Singapore’s overall productivity was -2.2%. I don’t know enough about Infocomm but I do know why the [...]

in Categories: Investing

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6 Hours workshop on estate planning (9 & 10 May 2012)

May 15, 2012 by Wilfred Ling
Written by Wilfred Ling  Monday, 14 May 2012 On 9 & 10 May 2012, I conducted marathon workshops on estate planning. This is my first time doing so as I was unsure how the response would be. Each workshop lasted 6 hours. Altogether, there were 16 individuals who attended this talk. I consider it to be [...]

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The winning team lead by the professional planner

May 1, 2012 by Wilfred Ling
A professional financial practitioner does not work alone. He worked as a team. More than merely a team member, the professional financial practitioner is the one that exhibit the leadership quality to lead the team. An analogy is that the general medical practitioner does not work alone but relies on other professionals. But the difference [...]

in Categories: Business

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Theory and Evidence in Understanding the Incentives of Commissions Motivated Agents

April 25, 2012 by Wilfred Ling
Someone informed me of a research done by three researchers from Wharton,Harvard Business School and Harvard University relating to commission-based agents in the India life insurance market. The following were some observations: In our first experiment, we randomly vary both the stated belief of the customer as to which product is most suitable, as well [...]

in Categories: Business

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Pay for actual work rendered is the right way, but are you willing to do the right thing?

April 23, 2012 by Wilfred Ling
The Straits Times forum page (online and paper version) continues to receive letters on people who either support or oppose the assumed direction in banning commissions earned by advisers. Therefore, I will also just keep on writing the same subject on my blog. For today, I want to write on why consumers are mainly at [...]

in Categories: Investing

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What is the hourly fee an adviser should charge? It is just $1.85

April 22, 2012 by Wilfred Ling
Recently, I have been asked about the fee-based model and whether is it viable. In the past, few advisers asked me this question because it is more lucrative to sell products. Although MAS did not say commission will be removed, it appears that the industry thinks this is the direction. So many firms and advisers [...]

in Categories: Investing

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My Feedback for Financial Advisory Industry Review (FAIR)

April 18, 2012 by Wilfred Ling
I just submitted the letter to MAS: Dear Sir, RE: Feedback for Financial Advisory Industry Review (FAIR) As a full time fee-based professional financial planner for many years, I bring with me significant experience which I want to share with the committee. I am a CFA charterholder, Chartered Financial Consultant and as well as an [...]

in Categories: Business

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"Fee-based" is a four-letter word for financial adviser client

April 17, 2012 by Wilfred Ling
Written by Wilfred Ling    Tuesday, 17 April 2012 I read this article with amusement “FEE-BASED” IS A FOUR LETTER WORD FOR FINANCIAL ADVISOR CLIENTS. In the article it stated that: About 64 percent of respondents had a negative reaction to the phrase “fee-based.” … Here are a few investors do like: savings, growth, goal, [...]

in Categories: Investing

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Setting up a trust isn’t estate planning

April 14, 2012 by Wilfred Ling
There was a business times article entitled “Estate planning: Private bankers or lawyers?” It was an article on engaging lawyers and private bankers for estate planning. Many people think that setting up a trust is estate planning – it is not. Trust is one of the many tools and products used by an estate planner [...]

in Categories: Personal Finance

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Photos taken for the Investment Workshop 14/4/2012

April 14, 2012 by Wilfred Ling
Written by Wilfred Ling    Saturday, 14 April 2012 This afternoon, I conducted an investment workshop entitled “Money Supply and Economics” at my office. Despite it being the second time I am conducting a workshop on the same topic, it was well attended with many questions from the attendees. I had deliberately capped the size [...]

in Categories: Investing

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ST Forum letter: Financial advisers go beyond writing reports

April 4, 2012 by Wilfred Ling
The following was published on the ST Forum Online on 31/3/2012: HERE AS A fee-based financial practitioner for many years, I take issue with the reported comments by Mr Vincent Ee, vice-president of the Association of Financial Advisers Singapore (‘Financial advisers seek gradual changes’; Thursday). He said financial advisers who are paid a fee for [...]

in Categories: Business

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Talk given to Down Syndrome Association

April 1, 2012 by Wilfred Ling
Written by Wilfred Ling  Saturday, 31 March 2012 Today I gave a 1 hour talk to members of the Down Syndrome Association on financial planning for persons with special needs. Special Needs Trust Company was also there to give a 1/2 hour talk. Representative from Center for Enabled Living was present to answer questions relating to [...]

in Categories: Personal Finance

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ST Forum letter: Fee-based scheme not a problem

March 30, 2012 by Wilfred Ling
The following letter was published on Straits Times online HERE: I SUPPORT the Monetary Authority of Singapore’s review of the commission-based structure of financial advisers (‘Financial advisory sector faces shake-up‘; Tuesday). Many advisers and firms have their doubts, anticipating that clients will be unwilling to pay for advice. But that is the case because the [...]

in Categories: Business

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Sweeping changes to the financial industry is coming…

March 27, 2012 by Wilfred Ling
Yesterday, the Managing Director of Monetary Authority of Singapore announced possible sweeping changes to the financial industry at the anniversary gala dinner hosted by the Life Insurance Association. It was also reported by the Straits Times Financial advisory sector faces shake-up Mr. Ravi Menon spoke of the need to put customers’ interested first. The following [...]

in Categories: Business

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FSA sees synthetic ETFs as an emerging risk area

March 24, 2012 by Wilfred Ling
Written by Wilfred Ling    Saturday, 24 March 2012 I always admire the role of the FSA which is the UK financial regulator. If I am not wrong, they are probably the first in the world to outlaw commissions earned by financial advisers. This meant to be good because financial advisers who no longer earn [...]

in Categories: Investing

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Recovable nominations now permissible under new fatwa, says Muis

March 22, 2012 by Wilfred Ling
Written by Wilfred Ling  Thursday, 22 March 2012 MUIS has issued a new fatwa permitting Muslim to make recovable nomination on their insurance policies. Previously, only irrecovable nominations were permitted. With this, there are 5 estate planning tools available for Muslims: Irrecovable insurance nominations Recovable insurance nominations CPF Nominations Will (up to 1/3 of estate to [...]

in Categories: Personal Finance

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Girl,11, molested by uncle 20 times. This can happen to your daughter.

March 19, 2012 by Wilfred Ling
According to a Straits Times article Coach driver molested niece when she was 11, it was reported that the girl’s uncle molested her 20 times. She did not dare to report it earlier due to out of fear. Of course, this can happen even for young boys as well. Sometime, the greatest enemy turns out [...]

in Categories: Personal Development

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On workshops & seminars and mailing lists

March 16, 2012 by Wilfred Ling
Written by Wilfred Ling    Thursday, 15 March 2012 There are only 3 seats left for the workshop on “Money Supply and Economics”. The maximum capacity is 20. I am quite surprised by good response despite it is 1 month away. I guess most people took advantage of the early bird discount. Sign up before [...]

in Categories: Investing

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