Top Financial Planners in Singapore

Almost every individual experiences crucial times in their personal lives and businesses. It is extremely necessary to manage one’s personal finances in order to survive hard times; however, not every person possesses the right amount of knowledge to handle this task effectively. Although there is the general notion that it is only those who have access to huge amounts of money that require financial planners, it is not entirely true.

In as much as people with greater financial capacity absolutely need the help and skills of financial planners to properly manage their wealth, people who are just starting to gain some substantial income, or others who are yet to have savings equally need help in managing their finances.

Is it important to hire a financial planner?

In order to avoid the mismanagement of financial resources which can ultimately lead to devastation and serious failures in business, it is a wise decision to employ the services of a financial planner. Such an individual or firm will guide you in developing effective plans both in the short and long term to do away with unnecessary financial risks and create wealth.

There are a wide range of services financial planners offer based on their expertise and backgrounds. These services range from Employee Benefits, Critical Illness Protection, Life Protection as well as Savings and Investment options. The whole idea is to aid you track and achieve your financial goals.

How much money should one have before hiring the services of a financial planner?

 Hiring a professional financial planner demands that you at least have some money set aside to invest in the knowledge and results you will receive. The amount of fees they charge varies, but it is advisable to seek a planner who charges an asset under management fee, a fixed fee or an hourly fee.

Typically, if you only decide to meet with a professional simply to create your financial plan, they are likely to charge you an hourly rate ranging from between $100 to $300. For a person who needs to regularly receive help in implementing their financial plan, you could budget between at least $1000 and $3000 as a fixed fee. The asset under management fee is required when you want financial advisers to manage your assets and investments. In this arrangement, they are likely to request a payment equal to about 1% or 2% of your portfolio. Ensure however that the firm you are employing holds a financial adviser license which is required to render such services to others.

Top Financial Planners in Singapore

Having understood the importance of hiring the services of a financial planner, let us now take a look at some of the popular financial planners in Singapore.

NOTE: We didn’t arrange the list below in any particular order of importance.

Global Financial Consultants

First formed by Ian McMahon and Bruce Barron in Australia, Global Financial Consultants relocated to the Lion City in 2003. The group offers diverse strategies including financial advisory products and international wealth management. With at least twenty years of experiences, GFC’s strategies are designed to help individual clients find the best financial solutions that suit their personal preferences and needs. They are noted for closely working with each client by creating a financial security blueprint which can frequently be updated and reviewed.

Synergy

Synergy has earned recognition in Singapore for their effective wealth management process that is geared towards maximizing the value of their customer’s investments. The firm offers advisory and management services similar to that of life insurance companies. One of Synergy’s most notable qualities is their team of passionate financial advisors who are not only inclined with up-to-date knowledge but are also skilled in adopting the appropriate technology.

This quality is well-maintained with the frequent training organized to help develop the skills and competencies of their team. Based on their success, Synergy was in February 2020 awarded a Singapore Quality Class Star for Innovation and People.

JS Advisory

JS Advisory was formed in 1997 on Alexandra Road in Singapore and has over the years maintained a spotless reputation among its loyal customers who often testify of their excellent endeavors. Its team comprises professionals with entrepreneurial mindsets and varying backgrounds coupled with years of experience which gives them an edge in understanding the diverse needs of their clients.

As a result, they are able to provide relevant knowledge while giving appropriate recommendations which can enable clients to salvage their financial conditions and reach their objectives. They are also noted for building lasting relationships with each of their clients based on principles of partnership and trust.

IPP Financial Advisers Pte Ltd

This financial advisory firm is recognized as one of Singapore’s few independently owned licensed Financial Advisers and was established in 1983. IPP Financial Advisers Pte Ltd is mainly patronized because of their unlimited access to a collection of regulated financial platforms and products. This is made possible through their multiple divisions which offer targeted services.

For Instance, they have the Expat Advisory Group which is centered on aiding expatriates and international clients maximize returns on investment opportunities available in Singapore. They also offer multi-currency services, which benefit both local and foreign clients by providing wealth management solutions as well as mortgage plans. IPP is also recognized for helping clients deal with taxes on a global level.

Providend

Providend happens to be the Southeast-Asian nation’s first wealth management firm that only charges on a fee basis. The company provides excellent financial planning services at a flat fee, in an effort to stamp out the stereotype surrounding corrupt practices in Singapore’s financial advisory industry.

Clients who chose to work with Providend fall into one of four categories namely; retirees and pre-retirees, expatriates, accumulators and beneficiaries of estates. The company then recommends the most suitable plan tailored to satisfy the unique needs of each category. Aside from the flat fees charged, commissions that are earned through product engagements are refunded to their clients.

Singapore Financial Planners

Singapore Financial Planners acts as an intermediary to connect you with unbiased financial advisors in Singapore. They believe that individuals should not be misled by financial advisors to purchase high commission products. Thus, they aim to increase the financial literacy of Singaporeans through their financial articles so that you can make an informed decision. 

Singapore Financial Planners has a strict selection process where they select the most unbiased FAs that truly believes in providing the best for everyone. The FAs then undergo training about the various products offered by each partner in their network. 

With a team of certified financial advisers, they share numerous case studies in the industry to gain a more balanced understanding of the varying needs and objectives of their customers. Partners in their network continually widen their expertise by frequently undergoing training to develop their analytical skills which are essential for dealing with diverse financial portfolios. 

Their most notable strength is their ability to enable complete amateurs to start their journey to effective financial planning. Their services are suitable for complete beginners and wealthy investors alike.

SingCapital Pte Ltd.

This firm is duly licensed by the Monetary Authority of Singapore (MAS) under the Financial Adviser Act and is also a certified direct insurance broker for General Insurance. SingCapital Pte Ltd is regarded for offering quality financial planning services to enable clients achieve their financial goals through cost-effective and well-designed strategies.

They are particularly known for offering free personal financial health checks worth about $250 for clients who visit their website and complete an interest indication form. For investors and individuals looking for a suitable wealth management firm, they could easily use this opportunity to evaluate their financial standing before fully patronizing their services.

Karen Tang Certified Financial Planner

This company was founded by Karen Tang, a graduate of University of Calgary in Canada, who worked as a business analyst and consultant for an international bank for almost a decade. Her level of expertise in managing large amounts of financial resources gave her the competitive advantage over her peers as she entered Singapore’s financial management industry in 2005.

Tang, who is both an Associate Estate Planning Practitioner and Certified Financial Planner, uses her years of experience and analytic skills to aid clients achieve personal financial growth while recommending the most appropriate methods of preservation. This financial adviser has earned critical acclaim for her pleasant personality, attention to detail and holistic approach towards finding the best solutions to clients’ financial situations.

Policy Pal

As the first alumni of Singaporean regulator, MAS Fintech Sandbox, PolicyPal was created as a bridge to guide customers in fully understanding their insurance policies. The company provides its services through its digital wealth management platform which does a good job at openly sharing financial adeptness to its clients as well as the general public.

 The company is also a licensed insurance broker with access to more than 30 insurance partners. PolicyPal is concerned with providing the necessary education as well as excellent financial advice that will help individuals manage their finances in the long-term.

Advisors’ Clique

Formed in 2015, Advisors’ Clique is one of the Great Eastern Financial Advisers Private Limited (GEFA) representatives. The firm has over the years grown to a team of at least 15 directors and 350 associates, who are skilled at meeting the financial advisory needs of their clients.

Advisors’ Clique is not only interested in meeting the current expectations of their clients, but focused on establishing goals and objectives that will benefit the future of its clients. Due to their association with GEFA, this firm has access to a list of some of the most prestigious partners in the insurance and finance industry.