Financial Industry
If you’ve a heart to help people live better lives, have an entrepreneurial mindset and are after a career with longevity, you could be a good fit for a financial advisor.
Providing financial services is one of Singapore’s key engines of growth. The Monetary Authority of Singapore has put in place a transformation roadmap to develop Singapore into a centre of excellence for wealth management, technology and innovation. As of 2016, the total market value of insurance policies stood at $6.8 billion1. There is still a lot of room for growth and your expertise in your previous career could help open up a rewarding career that enables you to maximise financial rewards while having the flexibility of time with your loved ones.
1 Source extracted from LIA & GIA 2016
What does a financial advisor do?
A financial advisor helps individuals grow their wealth and plan their protection needs. Besides individuals, financial advisors also advise companies on insurance requirements such as workmen’s compensation, employee benefits and liability matters.
As a financial advisor, you do more than just secure your customers’ financial future. You are partnering them on a rewarding journey, enhancing their financial health and enriching their lives. It’s a role that goes beyond just providing value-added financial advice and services, but you are truly making a positive impact on your clients’ lives.
Am I suitable for the job?
To become a successful financial advisor, you need to be highly motivated, have a desire to succeed and possess a strong and positive mindset.
At least 21 years old
Minimum full certificate in GCE ‘A’ Level, International Baccalaureate Diploma qualification, diploma awarded by a Polytechnic in Singapore or equivalent (Further specific requirements may apply to determine equivalent academic qualifications.)
Good interpersonal skills
Leadership potential
Committed, driven and eager to succeed
Wondering how much insurance agents in Singapore make?
On average, financial advisors earn S$36,000 a year. However, the salary range is wide and can be as high as S$240,000 per annum2.
Most agencies provide a monthly allowance to its financial advisors, as part of a compensation structure that takes into account the commissions earned. If you excel in what you do, you could also enjoy premier rewards such as the Million Dollar Round Table (MDRT) Qualification, Annual Incentive trip challenge, recognition as well as continuous professional and personal development.
2 Source extracted from www.payscale.com
Keen to find out if you’re suited to become a financial advisor?
Take the Enneagram Career Fit Test now! It is absolutely Free!
If you’d like a copy of the full report, it will cost only S$20 and we will shortlist 5 interested parties to attend out monthly event (*food & drinks included). Please key in registration code MIDCAREERSWITCH in order to have the report retrievable.