Personal Finance
O financial adviser, financial adviser, wherefore art thou financial adviser?*
By Patrick Lim  •  October 12, 2008
By: Patrick Lim *(with apologies to william shakespeare) On Thursday, I was referred to an elderly lady who is feeling totally lost at sea amidst what can be described at the perfect financial storm engulfing all the four corners of the globe. My prospective client is a retiree in her 70s who shared with me that she has been trying to reach her financial adviser for some time but alas, her financial adviser was, in her own words, "uncontactable!". After some time, this was what I learnt during our meeting in 2 key areas consisting of wealth protection and wealth accumulation: a. Insurance Portfolio
  • MediShield
  • One endowment plan
  • An annuity plan paying $285 per month
b. Investment Portfolio Consisting of unit trusts:
  • Aberdeen Pacific equity
  • Aberdeen Thailand equity
  • DWS China equity
  • First state dividend advantage
  • First state global resources
  • UOB united gold and general fund
My Comments: As she was already in her early 70s, she had a host of medical conditions including diabetes, high blood pressure, heart and kidney disease. What can be done for her?
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.

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