“When clients entrust us with planning their wealth, we have to realise that it is not just how much we can make from the clients. The compensation may only last us for a while, but if we don’t do a good job, we destroy their dreams.”
In this episode, I will explain the key differences between an advisory service and a sales business, considering the compensation, the way of prospecting for business and the recruitment approach.
Important note: The only way to fully manage the conflict of interest issue in the wealth advisory industry is to stay free from commissions.
View the full list of podcast episodes published here.
The host, Christopher Tan, is Chief Executive Officer of Providend, Singapore’s first fee-only wealth advisory firm and author of the book “Money Wisdom: Simple Truths for Financial Wellness”.
Learn more about the book here.
Music courtesy of ItsWatR.
For more related resources, check out:
1. The Reason Why I Left the Insurance Agency
2. Buying Term Insurance Is Not So That You Can ‘Invest the Rest’
3. Story of Evelyn: From Kampung Peddler to Deputy CEO of Providend
Let us assist you in taking care of your financial concerns so you can focus on what matters to you. If you would like an honest opinion on your current financial/retirement plan, insurance portfolio, investment approach and/or estate plan, make an appointment with us today.
