Career Overview
A Financial Adviser (FA) is a self-employed professional who provides personalised financial planning and investment advice to individuals and businesses. They assess clients' financial goals, risk tolerance, and current financial situation to recommend tailored strategies for wealth management, insurance, retirement planning, and more. FAs also help clients navigate complex financial products and markets, ensuring they make informed decisions to achieve their financial objectives.
Requirements
· Singaporeans Only (candidates who require Work Visa need not apply)
· Minimum GCE ‘A’ Levels, Diploma from a local polytechnic, or Degree of any discipline in accordance with Monetary Authority of Singapore (MAS) requirements
· Pass all Core CMFAS papers before commencement (guidance provided).
At this stage, if you are interested to have a career discussion, kindly reach out to me via 8837 5170.
Alternatively, feel free to read further.
Career Advisory
Pursuing a career as a Financial Advisor can be highly rewarding, offering opportunities for both personal and financial growth. However, it also comes with challenges that many may find themselves unprepared for. While the role is often marketed with promises of high earnings, inspiring mentorship, and exciting career opportunities, the reality can be quite different.
1. Income
The allure of commission-based income is strong, but it lacks stability. Many new Advisors struggle to maintain financial security, especially during the early stages. Additionally, there are several costs associated with building a client base, for example:
- Social Media Marketing – FAs often spend heavily on social media ads, which involve a trial-and-error approach. This can result in a slow start as many have to self-learn digital marketing techniques and platform functionalities.
- Buying Leads – Purchasing contact lists, such as bulk phone numbers, may initially seem cost-effective. However, concerns around data privacy and the prevalence of scam calls make this approach risky. Additionally, it often results in low-quality leads, turning it into a time-consuming and costly strategy.
- Roadshows – A traditional method of client acquisition, roadshows are effective but emotionally challenging. Many FAs are not prepared for the in-person rejection that comes with it.
Accurately projecting a financial advisor’s monthly earnings can be difficult due to the dynamic nature of the role, but this also presents an exciting opportunity for those looking for uncapped income potential. Advisors who focus on promoting products with higher commission rates while ensuring their clients' protection needs are fully addressed can build lasting relationships and maximize long-term revenue.
While the path comes with challenges, the financial rewards can be highly attractive.
Average performers typically earn anywhere between $30,000 and $80,000 annually, with significant room for growth as they gain experience.
Top performers have the potential to earn $200,000 or more annually, offering the chance for exceptional financial success for those who excel.
The combination of personal satisfaction from helping clients and the opportunity for high earnings makes this career both rewarding and fulfilling.
2. Mentorship and Training
While many managers promise comprehensive guidance, the reality is often different, as they must balance their own sales responsibilities while overseeing multiple team members. New hires who don’t show significant progress may receive less support as managers shift their focus to more promising team members. On the other hand, Advisors who take initiative and actively seek mentorship often stand out and receive greater support from their managers, helping them accelerate their careers.
FAs who cultivate an independent work style and are resourceful in overcoming challenges will thrive. The flexibility and self-driven nature of this career empower advisors to shape their own success, growing both professionally and financially regardless of their manager’s involvement. With the right mindset, new FAs can quickly build confidence and take full control of their career trajectory.
3. Career Progression
As self-employed professionals, Financial Advisors have the freedom to direct their own careers, with managers offering support rather than control. Career advancement is based on merit and follows a clear path:
- Senior Financial Advisor – With experience, advisors can advance to become Senior Financial Advisors, focusing on increasing their business volume and attracting higher net-worth clients.
- Team Management– For those interested in leadership, transitioning into team management is a viable option. In this role, Advisors shift their focus from individual sales to the success of their team. Successful Team Managers earn commissions from their team’s sales and can achieve long-term stability as their team grows. With continued success, they can advance to Directorship and start their own agency.
Career progression as a Team Manager is driven by revenue generation and team growth, offering a rewarding path for those who excel. This structure ensures that dedicated and high-performing advisors have the opportunity to shape their own career trajectory and achieve substantial long-term success.
How to Succeed?
- Take on a Client-Centric Approach: Always ensure that your Clients’ Financial Planning needs are addressed thoroughly
- Be Knowledgeable: Thoroughly understand the purpose and intricacies of each product and effectively communicate it to your Clients
- Be Proactive: Constantly seek out new clients, whether through cold calling, networking events, or referrals. Building a strong pipeline of prospects will ensure that your business prospers
- Be Resilient: The financial advisory business can be challenging, especially in the beginning. Develop a thick skin for rejection and stay focused on long-term goals
- Be Opportunistic: Target the right market segment based on your own strengths
- Be Disciplined: Manage your time and resources effectively in order to achieve your Business Goals
- Be Results-oriented: Determine your ideal remuneration based on your personal/lifestyle goals and work tirelessly towards achieving it with no excuses
Apply Now
Submit your application via the Apply button
OR
Contact Wein Ng for a confidential discussion/consultation via 8837 5170.
Why Apply Through Me?
As a Banking and Financial Services Recruitment Specialist, I partner with a range of Financial Services and Banking clients who are consistently seeking Financial Advisors, Consultants, and Wealth Planners. I offer tailored recommendations based on factors such as:
- Availability of Allowance/Advancement/Incentive Scheme
- Range of Products and Services (e.g. Life Insurance, Health coverage, Savings/Endowment Plans, Funds, Trust Planning, Will Writing, etc.)
- Methods for Leads Generation and Client Acquisition
- Earning Potential
- Quality of Training and Mentorship
- Effectiveness of Back-office Support
With my proven track record and knowledge, I help jobseekers navigate the recruitment process and find the right opportunity to match their career goals.
Interested? / Enquiries
Submit your application via the "Quick Apply" button
OR
Contact Mr Wein Ng for a confidential career discussion via 8837 5170
We regret that only shortlisted candidates will be notified.
EA Personnel Name: Ng Weineng
EA Personnel No: R1985639
EA License No: 02C4944
