facebookDo financial advisors in Singapore have a fiduciary duty to their clients (legally). If not, how can we identify whether they are acting in our best interest? Any sample questions to probe them? - Seedly

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Fatty Finance

27 Apr 2020

Career

Do financial advisors in Singapore have a fiduciary duty to their clients (legally). If not, how can we identify whether they are acting in our best interest? Any sample questions to probe them?

Dear Financial Advisors, I know you are active in this community. It is not that I do not like you guys. It is just the financial advisors that I have met usually try to sell me life insurance policies or ILPs. help me...

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Colin Lim

27 Apr 2020

Financial Services Consultant at Colin Lim

HI, if you haven met 1 that suit your expectation den keep finding...

If you need life insurance or its lacking...we will tell u truthfully...

You can reach out to me if you haven find 1...

#planwithcolin

Not an adviser, but seen too much to know their pattern.

as long as they are financially remunerated to sell expensive products, they will.

i think, legally yes, they have a duty of care, but they will always make you sign some thick document to cover their @ss first.

ever met an adviser, who also happens to be very active in this community. gives a lot of advises, but will never commit into writing what his recommendations (ie his rational for choosing the plan, and why he recommends me to surrender other plans).

that could be one way to see if the adviser is really sincere.

a better way, at least to me, is to speak to someone who are not reimurated by commissions.

could be direct employers of the insurance co.

or the advisers at sonylife FA https://www.sonylifefa.com/ (all of their adviers are not commission based)

hope this helps.

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