facebookPosting here to get more opinions! FA or RES? - Seedly

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Anonymous

08 Jun 2023

General Investing

Posting here to get more opinions! FA or RES?

I am undecisive on the better option for me to pursue. I have great interests in both aspects. However, I would only be able to pursue one of which due to regulations. Looking for advices/thoughts before making the decision. Any advice would be great appreciated :)

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Gerann Ngiam 严俊杰

12 Jun 2023

Senior Financial Consultant at Prudential

The decision between becoming a Financial Advisor or a Real Estate Salesperson in Singapore will depend on various factors. Here are some considerations that may help you make an informed decision:

  1. Interest and Skills: You mentioned that you have a great interest in both fields. Both require good interpersonal skills, communication abilities, and a knack for negotiation. However, financial advising tends to involve more numerical analysis and understanding of complex financial products, while real estate sales might involve more local market knowledge and on-site visits.
  2. Regulatory Exams and Licensing: Both professions require passing regulatory exams and maintaining a professional license. The financial advisor will need to pass the exams under the Capital Market and Financial Advisory Services (CMFAS), while real estate salespersons need to pass the Real Estate Salesperson (RES) exam.
  3. Compensation Structure: Both careers usually offer commission-based compensation, meaning your income is directly tied to how many sales or deals you can close. This can be very rewarding if you're successful, but it also involves a certain level of risk and income instability, especially in the early stages.
  4. Job Market and Opportunities: Consider the current market and future trends for each profession. Both industries are quite developed in Singapore and offer good opportunities. However, the real estate market can be more cyclical and sensitive to economic changes, while financial advising might offer more stability.
  5. Work-Life Balance: Depending on your personal priorities, you might also consider the work-life balance. Real estate sales often involve irregular hours, including evenings and weekends, to meet with clients. Financial advisors might also work outside standard business hours but may have more flexibility depending on the specific job.

In conclusion, both careers have their own set of challenges and rewards. You might want to try talking to professionals in both fields to get a better sense of what the day-to-day work and career progression look like. You can also consider internships or job shadowing to gain first-hand experience before making a decision. Remember, there's no "one-size-fits-all" answer, so it's important to choose the career that aligns with your passion, skills, and long-term career goals.

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