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Anonymous
Should FAs show appreciation through gifting?
I have been with my FA for 3+ years since I graduated. She has been a good advisor for managing finances and over the years I have bought several plans with her as I gradually build up my coverage, hospitalizations etc.
My sister recently graduated a year ago, and she has also bought plans with an FA from a different company. From time to time, her FA would gift her reward deals and treats for special occasions such as birthdays.
By contrast, my FA kinda only looks for me when she wants to "do a financial review" (and get me to buy more plans) ...
Dont get me wrong. I am not jealous in any way. But I have to say that these small acts do make one feel appreciated. That you are more than just a client; you are also a friend on some level.
Wondering if gifting is a common practice amongst FAs? Look forward to hearing what everyone thinks :) Thanks much!
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Such a short sighted vision to think that "gifts" gesture as a way to measure whether the person is more than just your friend or not.
If you are not jealous then you won't be bothered at all whether there are any free gifts or not.
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Yeah i heard its common, though my FA doesnt! hah
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I have had a couple of FAs so far, and most will buy us (me and my wife) drinks or meals whenever we head out for reviews or to sign up new plans.
My brother on the other hand, has a FA which is his friend, and often gets gifts like mooncakes or CNY snacks.
I think it really depends on the FA but i wouldn't say it's a requirement since everyone has their way of managing the relationship and could be in different life stages.
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From my own experience, it does seem like a rather common practice. i prefer my FAs that don't keep ...
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Common practice as they are sales ppl, they entertain - you can look at financial statements - there is always an entertainment expenses - to promote future sales. And it's logical. Though it somehow looks like a bribe it keep clients happy/feel they are not overlooked. Agents who take cares of clients are much smarter/wiser than those who don't - you should grow up with your clients - participate in their lives, not treat them as one-time clients.