Support My Efforts By Visiting The Advertisers


This is a personal blog. The opinions expressed here represent my own, not those of my employer and is not intended to malign any religion, ethnic group, club, organization, company, or individual.

Excuse me, are u an independent adviser?

>> Tuesday, July 27, 2010

Some key points of the letter published in the forum page of the straits times:

Jul 26, 2010
What it means to be an 'independent' financial adviser

WE REFER to Mr Larry Haverkamp's letter ('Onus on insurers to boost transparency'; July 12).

1) The use of the term 'independent' has been a much debated issue, and rightly so. The Association of Financial Advisers (Singapore) recognises that the use of the term 'independent' under the Financial Advisers Act (FAA) connotes a serious undertaking to provide clients with objective and unbiased advice. So the term should not be used by financial advisers and their representatives if they are unable to demonstrate that they do not have financial or commercial links with product providers that are capable of influencing their recommendations, as spelt out under Section 64 of the FAA.

2) Investors in Singapore must recognise that they need to take responsibility for the decisions they make and cannot expect the Government or the institutions to look after them all the time.

Raymond Ng
Association of Financial Advisers (Singapore)


1) It is not rocket science to determine if a firm is "independent" or not. However, it takes enforcement to ensure that it is used appropriately. And that is lacking.

2) Consumers need to take responsibility. Many are so ignorant and expect the Government to protect their interest while they take no responsibility in educating themselves. Blaming everything else when things go wrong.




The owner of this blog does not share personal information with third-parties nor does the owner store information is collected about your visit for use other than to analyze content performance through the use of cookies, which you can turn off at anytime by modifying your Internet browser’s settings. The owner is not responsible for the republishing of the content found on this blog on other Web sites or media without permission.

Blog Comments

The owner of this blog reserves the right to edit or delete any comments submitted to this blog without notice due to;

1. Comments deemed to be spam or questionable spam
2. Comments including profanity
3. Comments containing language or concepts that could be deemed offensive
4. Comments that attack a person individually

Terms and Conditions

All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.

This policy is subject to change at anytime.

About This Blog

To promote the education of individuals for the need to have a healthy lifestyle and wealth management through proper financial planning, particularly in investments.

Top Blogs


Top Sites

  © Blogger templates Sunset by 2008

Back to TOP