My boss Christopher Tan, CEO of Providend, last year did a podcast episode with Singapore financial podcaster Reggie at The Financial Coconut.

I think it may be one of the most personal interviews that he has done (aside from the war stories we shared at work).

I am sharing this podcast because there is good value about his perspective on insurance, investments, life and F.I.R.E.

Chris shared with us what is the difference between fee-only, fee-based and commission advisers. Somehow, the host Reggie seem to think the fee-based is the most conflicted option.

“Fee-based is the ‘I really want to sell you this product model.’”

Managing wealth for them didn’t start off as a calling. There was enough naivety when they started Providend. He shares how much he made in his last year as a commission adviser in the 2000s.

“If you sell this, you are not going to be an MDRT.” The economics behind ethical MDRT.