In Singapore, chances are, everyone knows at least one financial advisor (and quite often more). Most of us have gotten that unsolicited WhatsApp message from a “long-lost” ex-classmate asking you if you’re free for coffee. More often than not, you could hazard a guess as to what they want to “catch up” about. Despite the generally negative connotation attached to the term ‘financial advisor’, the understanding of what an FA really is can vary, depending on who you are speaking to. It can be a licensed insurance agent, an investment banker, or a certified estate planning practitioner. Essentially, an FA uses their financial knowledge and expertise to construct customised financial plans that help to safeguard and grow their clients’ finances. Hence, having a trusted FA to handle your insurance and/or investment needs can be very helpful to you. However, the journey to engaging an FA to help you with your financial planning can be one filled with...