CHOOSING A WEALTH ADVISER
How do you find a wealth adviser?
Before you go looking for a wealth adviser, you
need to be clear about the type of financial advice your need and what
you are expecting from the advice process. Decide what type of advice
you need and find a wealth adviser who specialises in that area. You
should call up at least three firms.
Finding someone that you can entrust with your
finance matters is extremely important. The process of choosing a
wealth adviser can be daunting as there are many factors to consider.
Here is general guide to help you choose the right wealth adviser.
The process of choosing a wealth adviser
You should do a background check on the wealth adviser and the firm
before engaging their service. You should visit the Monetary Authority
of Singapore (MAS) website to ensure that the firm has the necessary
licence and whether any disciplinary actions have been taken against
What should you look for in your
- Qualified and experienced to advise you on all the money
- Ability to understand your ongoing needs and works to
accommodate them within your financial strategy;
- Effective at communicating with you, including listening to
and answering your questions and explaining them;
- Experienced in dealing with people in a similar situation to
- Update and meet you on a regular basis to assist you to
adjust your financial strategy in response to changing needs and;
- Clearly outlines their expertise and the service you can
As the relationship with your wealth adviser has
the potential to become a long-term one, you need to feel comfortable
with your wealth adviser on a personal and business level.