Financial Adviser in mid-twenties Makes $20k - Page 3 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Financial Adviser in mid-twenties Makes $20k

Reply
 
Thread Tools
  #21 (permalink)  
Old 25-06-2008, 09:03 AM
whizzard---
Guest
 
Posts: n/a
Default 2031

In every industry, there will be the successful, the mediocre and those who shouldn't be in it. What you read are some of the ones who made it good. I have a friend who was a professional banker and he decided to leave his cushy job and became a financial adviser. It was tough going for him for the first 2 years but he was very persistent, worked hard, honestly and was eventually successful.

He now makes more than $50k per mth consistently from his past sales and new sales as well as comm from the agents under him.

I believe that the financial advisory industry is very rosy for the devoted and good ones. There are many people in Singapore who are good at what they are doing e.g. being a lawyer, a doctor, teacher, etc but are not good at managing their own financial investments and need help in financial advice and planning. Over time, these people would accept the fact that they will need professional help in this area - and good help are few and far in between. Their names will surface by word of mouth.

This is a tough year. Its not easy making money but this is where the men and the boys will be separated. Good luck everyone.

Reply With Quote
  #22 (permalink)  
Old 25-06-2008, 03:00 PM
Desmond---
Guest
 
Posts: n/a
Default 2039

Tough times don't last, but tough guys do. A life not stretched, is a life not worth living. By the way if anyone here is keen to explore further about the financial planning industry, you can drop me a mail at [email protected]. Looking forward to sharing more with you folks. Cheers!

Reply With Quote
  #23 (permalink)  
Old 18-07-2008, 11:12 PM
Happy---
Guest
 
Posts: n/a
Default 2218

All these sucess and at what price? How much is enough for the FA to have? The common man is caught up with buying more, upgrading more in the name of financial planning.

Reply With Quote
  #24 (permalink)  
Old 20-07-2008, 01:59 PM
Desmond---
Guest
 
Posts: n/a
Default 2230

I guess it boils down to individual's goals and desire. There's no right or wrong. The Map is not the territory, everyone has their own perception of the world. But it is about choices. Stay Happy bro!
Reply With Quote
  #25 (permalink)  
Old 21-07-2008, 12:44 AM
Sally---
Guest
 
Posts: n/a
Default 2242

Having spoken to a couple of friends in the industry (not in Sg), I believe being a good and successful financial consultant/adviser requires very good communication skills and hard work. My friend from HK who gained his MDRT status works hard, even early breakfast appointments on weekends to get his clients. And it is true that graduates can earn HKD$100k (= SGD$20k) in a month as he has told me from one that he supervises. While my other friend in M'sia struggles to 'win' clients. There is no minimum pay but there is also an unlimited amt that you can earn each month. You must be able to 'sell' your product... Hard work will pay off!
Reply With Quote
  #26 (permalink)  
Old 21-07-2008, 12:50 AM
sunny---
Guest
 
Posts: n/a
Default 2243

the system is flawed. how can you have the same person advising and selling to you at the same time? it only encourages product selling not needs based. yes we have the FA act to help curb such things but honestly, does anyone think it helps? even the most honest advisor who wants to do a good job analysing will have no time because he is busy meeting potential clients. and after a few "fruitless" meetings, the "die die must sell something" pressure emerges..if not no money to buy kids milk powder this month.
Reply With Quote

  #27 (permalink)  
Old 21-07-2008, 12:57 AM
sunny---
Guest
 
Posts: n/a
Default 2244

it's a numbers game - eg even for mediocre advisors for every 10 people he meets, 1 will buy. work hard and meet 1000 people, 100 will buy. but question we have to ask ourselves is whether the advise dispensed, the time spent really analysing the clients needs,etc...justifies rewarding such advisors such big pay packets? work hard = mediocre advice = soemthing is wrong. the guys who spend time doing thorough anlaysis of their clients and thus sacrifice meeting new potential clients are penalized with less sales (for "wasting time" on analysis vs selling)...strange but true.
Reply With Quote
  #28 (permalink)  
Old 21-07-2008, 02:37 AM
sally---
Guest
 
Posts: n/a
Default 2245

Well...then don't u think investment bankers also succeed by 'selling' their products? Private doctors also earn by 'selling' their operations? Otherwise everyone cld just work under govt...


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


Bursa Stocks Android App - check share prices
Bursa Stocks [Android] App - check latest share prices on the go


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #29 (permalink)  
Old 21-07-2008, 09:42 AM
Desmond---
Guest
 
Posts: n/a
Default 2247

Kudos to you Sally! In our knowledge-based economy today, product-selling will not get you too far. Sure you may get the instant gratification if you managed to "push" some products. But how long can you last? Perhaps that's why Sunny mentioned that some has to meet 10 to sell 1. A good adviser is one who knows how to ask the right questions, analyze his client's needs and to uncover his areas of concern. The fact is that the deeper you're able to analyze, the stronger will be the relationship, and so will your business. The majority of the MDRT producers strives on getting strong referrals due to their characters and competency. From long term success, there's no place for product-pushing. Hope you guys will meet your trusted Adviser.
Reply With Quote
  #30 (permalink)  
Old 21-07-2008, 10:09 AM
sunny---
Guest
 
Posts: n/a
Default 2248

sally, i am against the system. investment bankers are the same. i have seen them shoving instruments down clients throats for the very reason the more they sell, the fatter the bonuses. Same for private bankers...Doctors are governed by a strict code of conduct espcially morally & for practical reasons - they cannot just sell you more medicine if they wanted to make money!! what if you kena overdose!!???
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


» 30 Recent Threads
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,807 Replies, 1,045,692 Views
Compare civil service salary ( 1 2 3... Last Page)
16,345 Replies, 12,459,016 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,325 Replies, 4,985,744 Views
Career as Teacher ( 1 2 3... Last Page)
10,857 Replies, 6,673,109 Views
GovTech ( 1 2 3... Last Page)
5,164 Replies, 2,165,231 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,459 Replies, 785,063 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,331 Replies, 1,142,735 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
311 Replies, 369,585 Views
Why Is Having a Google Virtual...
1 Replies, 6,800 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,400,198 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,540 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,050 Replies, 440,907 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,557 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,773,398 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
171 Replies, 309,710 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
680 Replies, 389,122 Views
Lawyer Salary ( 1 2 3... Last Page)
21,015 Replies, 10,332,015 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,642 Views
Is getting a PMP worth it ?
4 Replies, 7,180 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,748 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,776 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,444 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,657,918 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,079 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,854 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,325,269 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,978 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,955 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,996 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,739,519 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:24 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2