Asked by Anonymous
Asked on 27 Sep 2018
Will you trust someone who is a different race more or less (or no difference) to manage your financial portfolio? And why?
Top Contributor (Sep)
Race or Gender does not matter but rather the knowledge and personality of tt person does really counts.
There are good people here who have good knowledge of insurance and financial products and they are not limited to one company products which give them a more unbias recommendation when it comes to product selection.
like Hariz Arthur Maloy
There are also good people who are sharing their experiences which provides a guide to the real world application in investment and trading.
like Siti Putri
All in all, it takes fate and destiny to meet the right person, at the right time, at the right place and hopfully the right products.
Hope my reply helps.
If you feel this reply have Quality, please upvote and check other Quality Reply.
27 Sep 2018
Top Contributor (Aug)
To me it doesn't matter.
I believe that abilities do matter the most when it comes to hiring Financial Advisors.
That being said, lets talk about the Muslim community which is 15% of our local population. How many financial advisors in Singapore (or those that are active in Seedly) actually are well-equipped with the understanding of the Shariah Law? How do the assets of Muslims get distributed? What kind of investment vehicles are Haram?
In such situations, it may be better to work with an FA that understands the Shariah Law.
It's the quality that matters.
Why should it matter...?!
To me, race or religion does not matter. What matters is that the person is not selling something to me just because of the commission he or she will get. I do prefer if the FA who can sell different products rather than being restricted to one company.
It really depends on individuals. There is no right or wrong answers. It really depends whether you can trust and are able to communicate with the financial advisor. If you could not trust him or her and has difficulty communicating with him or her, it does not make sense to buy from the person even if the financial advisor is of the same race as you.
Top Contributor (Feb)
It boils down to the ability of the advisor to manage the portfolio. Results matter and that's my yardstick (other than fees).
Top Contributor (Oct)
Money is money
you should trust whoever that can help you grow it.
Top Contributor (Jun)
No. As it involve $ and needs to be impartial and it's not good to have emotional attachement towards equity / business / instruments, thus the selection should be judge based on the capabilities / reliability of the investment manager.
race does not matter
real expertise, legal fiduary duty, accountability and responsibility matters
I for one, don't think that race matters, because it's really about how sincere the person is, and how much knowledge he has in order to help me.
However, I can see why it could matter to some people. Perhaps they just feel more comfortable, or they feel that someone of the same race can identify the same type of problems encountered. So I guess in some ways this can't be helped, but still, better to choose who you are comfortable with!