What do most financial consultants in Singapore get most wrong about?

I think compensation affects their advice.
Buy what they buy would probably outperform what they sell.

Just my view. I do have passive ETFs available to my clients on POEMS, and they are free to buy them if they choose. I also have actively managed UTs available on POEMS and with zero sales charges, platform or switching fees, clients are also free to buy them.

Now in my case, it is really up to the client to decide. There have been funds that have consistently beaten reference benchmarks over time, nett of fees. In such a case, why would you want to buy the ETF? Then again, there are ETFs that can not be beaten by any UT, (particularly S&P 500) in this case, won't you just buy the ETF and hold it?

Another thing to consider is the costs of investment. Buying ETFs will incur brokerage and clients need to examine the budget in order not to incur a high cost of investment. Buying S&P 500 worth US$1000 but paying US$20 + GST brokerage does not make a lot of sense.

I prefer to explain to clients the pros and cons and let them choose. After all, it is a free market. I do think there is still a place for good UTs in one's portfolio, along with a basket of other instruments like ETFs, Shares and Annuities.

Again, just my view.