With the emergence of Robo, Crypto, TB, MM, FWD, Singlife etc, what is the advantage of getting ILP? and FA for that matter in the next 5 years?

I think ILPs are for a niche purpose. It depends on your current situation.

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As for FAs, I do think there is value in having someone manage your personal finances. These include insurance coverage, retirement planning, etc. There are various aspects to your personal finances besides investment management. That is merely 1 aspect.

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You can definitely DIY everything else, but as humans, we are prone to behavioural biases that may not be in our best interests. We may always think we should be doing something when instead the best thing to do is perhaps nothing.

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Hence, on top of helping to manage the other aspects of our finances, I think FAs can potentially help guard us against these behavioural biases.

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That being said, I'm assuming that FAs are acting in our best interests, and not simply trying to make a sale. It is difficult to tell the two apart considering that the industry is largely driven by commissions and sales.

Hi I would like to offer a new perspective on ilp.

Pooled my money together with the FA himself, 500/m for ten years.

Sure, the fees are high. But there are a few advantages.

Compound money at a faster rate because you now leverage on your FA/friend's money. We both contribute to 1k/month to hit the bonus level of 4k. Which helps to offset fees.

Also, since it a portion of the Fa's own money, he is less likely to screw up.

He offers market advice too (which I use for my own diy portfolio).

But still, ilp fees are high, would recommend ppl to stay clear.