One of the main reasons why clients engage Karen is because she is a certified financial planning professional representing the one the largest independent financial advisory (IFA) companies in Singapore.
In 3Q 2002, the Singapore Parliament passed a new legislation called the Financial Advisers Act (FAA). This act signaled the birth of the Independent Financial Advisory (IFA) industry.
Financial planning before the FAA was synonymous with insurance planning. The public was familiar with insurance agents that sold a myriad of insurance products that were marketed as vehicles for retirement planning, education planning, accumulating wealth and other financial goals. This also meant that consumers had to shop around and ‘do their homework’ before buying any plan. In the end, an individual could end up with a combination of plans from different financial institutions. This led to conflicting advice from financial intermediaries which caused more confusion to the individual.
The birth of the IFA industry has put an end to this. The birth of the IFA industry has finally empowered the public with an objective and comprehensive platform.
The IFA industry aims to provide consumers with true holistic financial planning where the needs of an individual from risk management to wealth accumulation and estate planning can be addressed under one roof. The consumer gets the big picture perspective of an IFA – how each part fits with the other components of his/her financial planning.
Benefits of engaging an Independent Financial Advisor (IFA)
- True holistic financial planning
You benefit from having Risk Management, Wealth Accumulation, Estate Planning and Mortgage Financing provided under one roof.
- Big picture view of your financial program
You gain a clearer picture of how the individual plans in your financial program fit and work together to meet your life goals.
- Unbiased advice
Your needs drive your solutions and not the other way round. With access to some of the best solution providers in the market, an IFA is able to source for the most appropriate solution for you.
- Compare & Select
You have access to the very best financial solutions from across the market, not just from one product provider. Our role as your independent financial advisor is to provide clarity and guide you to the most ideal solutions that best fit your needs. We specialize in comparing and selecting insurance options; not only do we study the fine print (terms and conditions), and most of all we also ensure that our clients get the most cost effective option.
- Continuous tracking
Your needs and goals may evolve over time. Through an ongoing relationship with us, we help you to review your plan or strategy on a periodic basis, and make any necessary adjustments to help you stay on track.
