Archive

Wilfred Ling

Question on Will writing obstacle X (costly due to many revisions)

July 5, 2011 by Wilfred Ling
Question: “I am not writing my Will because it may be subject to many revisions and hence incur costs.” Answer: Like all financial planning tools such as insurance and investments, regular review is required to ensure these remain up-to-date and relevant. Similarly for Wills, it is necessary to review it in order to ensure that [...]

in Categories: Personal Finance

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39% are planners who seek professional help?

July 4, 2011 by Wilfred Ling
Written by Wilfred Ling Monday, 04 July 2011 In the latest HSBC survey on “The Future of Retirement”, it was mentioned that 39% of those surveyed are planners who seek professional help. This group tends to be the most well off. Well, I did not know that there are so many people who seek ‘professional [...]

in Categories: Personal Finance

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Question on tired of selling

July 4, 2011 by Wilfred Ling
Written by Wilfred Ling Monday, 04 July 2011 Question: “I am sick and tired of doing insurance sales. My manager only teaches me soft skills in selling. I feel like quitting the industry altogether.” Answer: There is one thing which financial advisers like you differ from all other occupations is the ability to persuade customers [...]

in Categories: Business

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(Video)Singapore Migrants Buying Insurance

July 1, 2011 by Wilfred Ling
Written by Wilfred Ling Friday, 01 July 2011 The latest data from Credit Counselling Singapore (CCS) HERE shows that in 2010, 20.9% of Singaporeans approach CCS for help due to debts incurred from medical cost. However, the corresponding figure for Permanent Residence is a whopping 36.6%! This is consistent with what I said in the [...]

in Categories: Insurance

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Results of Survey on "Why am I reluctant to make a Will"

June 29, 2011 by Wilfred Ling
Written by Wilfred Ling Wednesday, 29 June 2011 A recent survey done through an Internet Poll from 3 March to 26 March 2011, revealed that the top reason for not writing their Will is not knowing whom they can approach. On the other hand, the taboo to discuss about death is no longer an obstacle. [...]

in Categories: Personal Finance

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Guaranteed increase in sales without increasing marketing cost

June 28, 2011 by Wilfred Ling
I want to give a few tips to business owners and people in sales on how to increase your revenue without increasing your marketing cost. Many business owners spent lots of money trying to generate leads. But today I found that 50% of qualified leads are lost for nothing. If you can stop the losses, [...]

in Categories: Business

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Question on Will writing obstacle IX (lack of knowledge)

June 28, 2011 by Wilfred Ling
Written by Wilfred Ling Tuesday, 28 June 2011 Question: “I am not writing my Will because of lack of knowledge” Answer: There is no need to be knowledgeable to have a Will. In fact, that burden of knowledge should be born by professional estate planners. Many people felt that they need to be knowledgeable before [...]

in Categories: Personal Finance

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1 in 3 fund managers wary of synthetic ETFs: Survey

June 23, 2011 by Wilfred Ling
The Straits Times article “1 in 3 fund managers wary of synthetic ETFs: Survey” dated 23 June 2011 revealed that 1/3 of the fund managers are wary of synthetic ETFs. Synthetic ETFs whose underlying are derivatives always make me feel very uneasy. Sometimes I would have nightmare over it. I advice people to stay away [...]

in Categories: Investing

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Coverage for cancer

June 23, 2011 by Wilfred Ling
I was approached by an individual who suffered from carcinoma in situ. Although the condition was in remission, there was no insurance companies who were willing to cover her. Obviously like majority of Singaporeans, she did not buy any hospital and surgical insurance prior to her cancer. I referred her to my colleague who eventually [...]

in Categories: Insurance

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Question on Will writing obstacle VIII (cannot afford the fee)

June 21, 2011 by Wilfred Ling
Question: “I am not writing my Will because I cannot afford the fee. It may be subject to many revisions and hence incur costs.” Answer: Why is it that all household have a television set regardless of how poor they are? Why is it that people has no hesitation to spent money on traveling? Why [...]

in Categories: Personal Finance

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Insurance agent did not have insurance for own child?

June 18, 2011 by Wilfred Ling
Written by Wilfred Ling Saturday, 18 June 2011 I read in the newspaper about a student who incurred hefty hospital bills despite her parent working as an insurance agent. I am amazed why this is so. While I cannot comment about the industry in other countries, in Singapore’s context many financial advisers are no longer [...]

in Categories: Insurance

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The Abuse of Financial Planning Ratios

June 16, 2011 by Wilfred Ling
If you read any financial planning textbooks, you will encounter the usage of financial planning ratios. A number of financial advisers and planners also use financial planning for their clients. Yours truly do not use financial planning ratio at all. Why do I say that? Here are the common financial planning ratios that are often [...]

in Categories: Personal Finance

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The types of clients I am seeing

June 15, 2011 by Wilfred Ling
Written by Wilfred Ling Tuesday, 14 June 2011 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 [...]

in Categories: Business

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Question on Will writing obstacle VII (joint accounts)

June 14, 2011 by Wilfred Ling
Written by Wilfred Ling    Tuesday, 14 June 2011 Question: “I am not writing my Will because my asset and cash are all in joint account/name with my wife. If anything happen to me, she should not have problem to take over the asset and cash. “ Answer: What happen if both persons die simultaneously? [...]

in Categories: Personal Finance

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Why doing a CPF Nomination is not enough for your CPF

June 8, 2011 by Wilfred Ling
Today I want to write briefly on a relatively unknown rule. Due to huge number of people who are not able to meet the CPF Minimum Sum, as a concession, married couples aged 55 and above can jointly set aside 1 1/2 times the Minimum Sum required. However, they need to nominate each other as [...]

in Categories: Personal Finance

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Question on a Will writing obstacle VI (on-going maintenance)

June 7, 2011 by Wilfred Ling
Written by Wilfred Ling Tuesday, 07 June 2011 Question: “My main obstacle for not wanting to write a Will is this : Will there be maintenance and upkeeing fees involved in making a meaningful will?” Answer: The on-going “maintenance” is to find a safe place to store the Will. More importantly it has to be [...]

in Categories: Personal Finance

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Will I be charged the moment I speak to you?

June 4, 2011 by Wilfred Ling
Written by Wilfred Ling Saturday, 04 June 2011 There is a common question on whether will I charge fees the moment the client speak to me. I will charge fees based on actual service rendered. I do not pretend to work for free. I prefer the honest manner of earning a living rather than pretending [...]

in Categories: Personal Finance

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The lost art of selling insurance

June 3, 2011 by Wilfred Ling
Written by Wilfred Ling Thursday, 02 June 2011 Read this interesting article written obviously by a financial adviser: Advisers should ‘sell, sell, sell’ The author said, “We need to remember that people do not queue up outside our offices to buy life insurance and retirement plans, they don’t wake up one morning and say “I [...]

in Categories: Insurance

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