Have you ever attended a seminar or seen advertisement talking about give you financial freedom, more time and more money, and the returns are GUARANTEED? Well, here is the truth. If it sounds too good to be true, then it probably is. Following the news “Unlicensed property agent faces charges”, my business associate Wilfred Ling […]
How to Work With a Financial Adviser
The Financial Advisers Act (FAA) regulates companies and individuals that provide advice on investment products to consumers. Administered by the Monetary Authority of Singapore (MAS), the FAA sets common standards for those who give investment advice by introducing some important initiatives to protect your interests as a consumer. What activities are regulated under the FAA? […]
Two questions to ask your "Financial Adviser"
Every Sunday morning when I read the newspapers, I always see articles or advertisements regarding “Financial Advisers”. Nowadays, just like the once prestigious word “Banker”, which is misused in the modern financial industry and misunderstood by many consumers, the term “Financial Advisers” has become widely misunderstood. To some people, any sales person in the bank […]
The ABCs of the Financial Advisers Act
The title, Financial Adviser, is always mis-used in the industry and misunderstood by the consumers. On 10 October 2002, the Financial Advisers Act came into effect and all financial institutions are expected to comply with all its requirements from 1 April 2003, so what can consumers expect from financial advisers and their representatives? What are […]