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Anonymous
Can i change insurance agents within the same company without incurring any extra costs?
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Pang Zhe Liang
24 Dec 2019
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
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Hariz Arthur Maloy
24 Dec 2019
Independent Financial Advisor at Promiseland Independent
Nope, no financial costs whatsoever. Unless you have a wrap UT portfolio with your initial advisor and now you're moving the business to another advisor, they may charge a higher or lower advisory fee, sales charges, etc.
But if its just an insurance portfolio, no costs.
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From the consumer point of view, there is no monetary cost to you in switching your existing insurance portfolio from one agent to another. However, non-monetary cost is a subjective factor that varies from person to person. For instance, who do you feel is more capable in understanding your needs and to help you create the right directions and goals for the future?
If you do not have a agent who you are comfortable with, then I will suggest you to read this article: https://www.blog.pzl.sg/orphan-clients-insuranc...
This will help you understand what you have and what you need to do during the transit.
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