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DollarsAndSense Tonight: Can Financial Advisors Be Trusted To Put Their Clients’ Interest First?

The insurance industry has a poor reputation among Singaporeans. Who’s to blame?

 

This talkshow is brought to you in collaboration with Financial Alliance.

As consumers, we are responsible for the financial decisions that we make. Our financial advisors play a major role in guiding us along this journey and providing advice that is in our best interest.

A 2018 study by the CFA Institute found that only 10% of respondents believe that financial advisors put their clients’ interest first while less than 50% trust the industry as a whole. This highlights the low level of trust in Singapore’s financial services industry.

We sat down with Vincent Ee, Founder and CEO of Financial Alliance, an independent financial advisory firm, to hear his views on financial services in Singapore.

The questions covered include:

0:50 – Why do so many people still feel like they can’t trust their financial advisors?

2:28 – How do I know if I’ve met the right agent?

3:12 – As consumers, should we be aware of conflict of interest situations?

4:17 – How much should consumers be accountable for the financial products that they buy?

5:25 – Financial Alliance is an independent financial advisory firm: What does it mean to be independent and how does this affect how financial advisors advise their client?

This video was brought to you in collaboration with Financial Alliance – Singapore’s largest independent financial advisory firm. Find out more about Financial Alliance at their website.

Recorded at Nanyang Polytechnic’s Diploma in Mass Media Management studios.