Archive

Wilfred Ling

Best recommendations may involve DIY

January 13, 2010 by Wilfred Ling
I have done many financial plans for fee-paying clients. Often at the end of the plan, I’ll make some recommendations. Most of these recommendations require the clients to do it themselves simply because I cannot do it. For example, revoking unnecessary life insurance nominations is one example. Other times it involved buying a product directly [...]

in Categories: Personal Finance

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Another reason why financial advisers must sell expensive product

January 8, 2010 by Wilfred Ling
Everybody I know is concerned about their salary because they want to save for retirement. Financial advisers are no different from the human being next door. They need to earn a living as well. Unfortunately, such clients are going to be sold expensive product. Why? It has to do with low levels of productivity. Productivity [...]

in Categories: Personal Finance

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Why engaging a financial adviser may not help?

January 6, 2010 by Wilfred Ling
Many people who engage financial advisers on investments have some unrealistic expectations. How well a portfolio can perform depends 99% on the investor himself. So regardless of how good a financial adviser is, if the investor does not do a proper job, it is guaranteed that the portfolio will lose money on a long run. [...]

in Categories: Personal Finance

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Question on medical insurance with low claim amount

December 13, 2009 by Wilfred Ling
“Dear Wilfred, For the past 20 years I paid my medical insurance product called Z faithfully without any claims. Recently I was admitted to hospital at a private hospital. The bill came up to be $X,XXX.. I was dismayed that I could only claim a shocking $XXX (10 times less than the original bill). The [...]

in Categories: Insurance

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The Commoditization Trap VI (Bureaucrats)

December 9, 2009 by Wilfred Ling
I want to write something about how bureaucrats have trapped financial advisers severely and at times to the detriment to their clients. Bureaucrats often imposed a long list of requirements for the sake of compliance. They also impose how advisers are remunerated. First, the most obvious way which Bureaucrats trap advisers is the fact that [...]

in Categories: Personal Finance

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Singapore recession over ?!?!

November 22, 2009 by Wilfred Ling
I read that Singapore recession is over! See the ChannelNewsAsia link HERE. We had a positive GDP growth in two consecutive quarters! Is this for real? Seems like a dream! It seems this recession was like forever but actually it was just a year ago when all things just keep on collapsing and big names [...]

in Categories: Market Review and Trends

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Hard to find financial planner in Singapore?

November 10, 2009 by Wilfred Ling
I was told by someone that it is extremely difficult to find financial planner in Singapore. This person studied in United States during undergraduate days and was familiar with concept of financial planning in US. She did her financial plan just after graduation. Many years later, she needed to redo the financial planning again but [...]

in Categories: Personal Finance

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What can happen to Sembawang Music Centre will happen to financial advisers

November 5, 2009 by Wilfred Ling
In the news is Sembawang Music Centre. It is going through liquidation and bankruptcy. The reasons as reported in the press were: rising cost of rental, general decline in the industry and the emergence of close substitutes such as online music and video downloads. The decline in the industry was evidenced by Tower Records closing [...]

in Categories: Market Review and Trends

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What has Shell and Insurers have in common?

October 27, 2009 by Wilfred Ling
I read in today’s newspaper about many readers who were angry at Shell for causing traffic jams all over Singapore because of its $1 per litre promotion. Readers were unhappy because of massive traffic jams all over Singapore. But what people did not know was that insurers are also doing this kind of thing – [...]

in Categories: Insurance

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7 Tips on How to Lose Money in Investments

October 21, 2009 by Wilfred Ling
Actually nobody wants to lose money in investments but in my experience, majority of investors will not make money. Here are some reasons why investors will not make money in their investments: 1. If you want to earn money quickly, you will lose it even faster. This has to do with speculation. Investment & speculation [...]

in Categories: Investing

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10 Tips on what to prepare financially for your upcoming marriage

October 16, 2009 by Wilfred Ling
If you have finished school, worked for a few years and is attached, your most likely plan next in the agenda is to get married. Marriage is going to be the most significant decision you will make. It will affect you mentally, emotionally and financially. It also happens to be a national interest to pro-create [...]

in Categories: Personal Finance

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What Fresh Graduates and Young Persons Should NOT Do

October 6, 2009 by Wilfred Ling
Last week, I encountered a few cases of young clients who had made serious mistakes financially even though they had just started their career. For young people, they must understand what lies ahead of them. These are: 1. No jobs are secure. So they must never have the idea that their company will keep them [...]

in Categories: Personal Finance

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The real problem of the old insurance nomination

September 15, 2009 by Wilfred Ling
This is my thoughts on the irrevocable trust insurance nomination in the recently announced Nomination of Beneficiaries (NOB) framework. In the news is that the new regulation permits one to nominate his or her life insurance policies either as revocable or irrevocable nomination. Much resources have been put in place to provide greater clarity in [...]

in Categories: Insurance

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7 Financial Planning Tips for Property Purchase

August 24, 2009 by Wilfred Ling
For some strange reason, we are seeing a property bull run in Singapore. This is despite that we are still in recession and the global economy is still not out of the woods yet. A Straits Times article entitled “Cash upfront for HDB resale flats doubles in a month” dated 20 August 2009, it was [...]

in Categories: Personal Finance

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Should you be borrowing money to pay for debts?

August 22, 2009 by Wilfred Ling
Although not many people like to be in debt, most of us borrow money anyway. One reason is because it is the fastest way to buy the things you want or need. If you do not belong to the wealthy, accumulating cash to pay for that home or car would take years. Unfortunately, it is [...]

in Categories: Personal Finance

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Question on Past Mistake

August 10, 2009 by Wilfred Ling
“Dear Wilfred, I hesitate to do a comprehensive financial planning because I bought a product X from Y a few years ago which I regretted because the product offers poor returns. As I have put $ZZZ amount every month into it, I will suffer heavy losses if I would to terminate it. Regards – K” [...]

in Categories: Personal Finance

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Family to pay $1.3 million in estate duty!!

July 21, 2009 by Wilfred Ling
I got a call from my colleague just now who was approached by a family to advice them on estate duty issue as one of the member of the family has just passed away. Apparently this person held $3million worth of US shares in which the family did not know. Now that he is dead, [...]

in Categories: Personal Finance

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Question on Risk Classification

July 15, 2009 by Wilfred Ling
“Hi Wilfred,  I hope to get your opinion on the Risk Classification of XXX product. XXX is a a structured product with YYY reference entities. There is no effect on capital and payout with the fall of the first ZZZ entities. However there is substantial impact at the fall of the JJJth entity. At the [...]

in Categories: Personal Finance

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