The following is a recruitment advertisement for financial adviser.

I talked to a client and he asked me why FA in Singapore could only offer unit trusts to their clients? What happen to shares, bonds etc? The following are my personal opinion (I stand corrected):

A friend approached me and told me that he intend to setup an FA firm that has portfolios investing into ETFs. He asked me to about it (perhaps wanting me to join him in this joint venture!) Unfortunately life is not so simple in Singapore. After listening to me, I think he is considering another business unrelated to ETF! The following are some the obstacles based on my personal research into the subject (accuracy of the following cannot be guaranteed by me because it involves legal understanding which I am not qualified):

With NTUC Income reducing its annual bonuses but increasing its terminal bonuses, it attracted unhappiness among some minority policyholders. Although they have the right to be unhappy but I am surprised that some policyholders think they have the right to demand that the bonus structure remain status quo. I think this has to do with how the policy was sold. The following are some of my thoughts but they are not pertaining to just NTUC Income’s par products but in general with any par products in the market:

The phrase  “fact find and needs analysis” is part of the process which an adviser must offer when providing financial advisory service. This is a regulatory requirement and unless the client decline, it is the duty of all financial adviser to inform the client that this service is available. In the past when regulations were not so strict, many financial advisers sold based on product features rather than based on a client’s needs. As a result, many clients were not satisfied with the product. There was many misunderstanding and mis-selling. These days, fact finding and needs analysis are offered to clients.

1. A pair of rechargeable battery cost $13.15 for 2000mAh
2. A pair of rechargeable battery cost $13.15 for 2500mAh
3. A pair of rechargeable battery cost $13.15 for 2650mAh