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Question on a very poor endowment policy

Question: Wilfred, I sold a 5 years single premium endowment from a reputable insurer in 2009 to my clients. Recently it just matured and I was shocked to discover that my clients only receive $102,291.77 for every $100,000 single premium. I was told single premium is a safe product but the returns are horrible! Can I complain on behalf of my clients and if yes to whom? - From a financial adviser Wilfred: After reviewing the benefit illustration, it is indeed a single premium endowment for 5 … [Read More...]

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The Real Singapore: Evidence on little understanding on financial planning from stolen article

Recently one of my old article entitled Man lost almost his entire HDB property to siblings due to poor financial planning got “stolen” and was published without my permission on The Real Singapore website and shared on their facebook page. I was going to write to the editor of The Real Singapore for copyright infringement when I got shocked with the reaction of the commentators. The reaction was so comical that I decided to also share to all by copying and pasting the facebook … [Read More...]

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Retirement Planning: Difference between Wealth Accumulation & Monetisation

This video explains the following Difference between wealth accumulation and monetisation. 3 classes of monetisation assets. Why retirement planning is a lifelong process. When it is too late to plan for retirement. For those who prefer to read, the following is the transcript:  I want to talk about Retirement Planning and specifically on Wealth Accumulation and Monetization. Wealth Accumulation and Monetization are distinct phases in Retirement Planning. During Wealth … [Read More...]

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insurance like from NTUC Income, Aviva and Tokio Marine

NTUC Income, Tokio Marine & Aviva inconsistent underwriting standards

I want to share with you the different underwriting standards practice by different insurers. Recently, I have a client, age 27, whom I helped her applied for insurance and the outcomes were all different. The insurance applications were part of the recommendations from comprehensive financial planning. The client suffered from heart murmur. Her mother suffered […]

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Lease Buyback Scheme – a viable financial planning tool?

Announcement was made on 3 September 2014 by Prime Minister Lee Hsien Loong during his National Day Rally speech that the scheme would be extended to four-room flats.  What is the Lease Buyback Scheme? Is it a viable financial planning tool? Under the current Lease Buyback Scheme, flat owners sell the tail end of their […]

How financial advisers are paid?

This article is inspired by this article YOUR PRACTICE-How to tell clients financial advice isn’t free. I have met many individuals who could not understand how financial advisers are paid. Very often, they think financial advisers have a salary. In Singapore, most advisers do not have a salary. They are self-employed. However, regulation requires them […]

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ST forum: Overcoming emotional barriers to lease buyback

Today, Straits Times publish my letter relating to the Lease Buyback Scheme. However, they had edited and reduce the length of my letter by 38% to the extend that the seriousness of the issue have also been watered down significantly. The following is the unedited version: Overcoming emotional barriers to lease buyback The article last […]

Why you should never fall in love with your investment?

Why you should never fall in love with your investment?

If you prefer to read, the following is the transcript: In my dealing with investment clients, I often find my clients falling in love with their investments. I will always counsel them to distance themselves from their investments because once they become too emotional, their investment decision making becomes subjective. How do you know you […]

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DirectAsia online term life insurance

Many may have heard of DirectAsia selling motor insurance online. However, what is little known is DirectAsia’s online term life insurance which was launched on 9 October 2013. The term life insurance is underwritten by AXA Life. This online purchase is not the same as MAS’ push for life insurers to sell directly. DirectAsia is […]

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Medical Expenses – how expensive can it get?

Have you heard of the story of Marjorie who was diagnosed with a bone cancer at just six? After fighting for 6 years, she passed away leaving her parents in debt. The estimated medical expenses for cancer was whopping $400,000! Marjorie’s grandmother even sold her flat to help pay for medical expenses[1]. Consider another case: […]

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