In Singapore, financial services are highly regulated by The Monetary Authority of Singapore (MAS), the regulator and supervisor of financial institutions in Singapore. Rules are set by MAS for financial institutions and are implemented through legislation, regulations, directions and notices.[15] Currently, the majority of the financial planners (financial consultants) are commission-based, which may cause a conflict of interest related to the products recommended. In 2015, a balanced scorecard framework was implemented to better align the interests of the FA industry and consumers. This ensures FA representatives and supervisors meet key performance indicators that are not related to sales, such as providing suitable product recommendations and making proper disclosure of material information to customers (Non-Sales KPI). Failure to achieve good grades for the Non-Sales KPI will directly affect their commission (variable income).
What services will the fiduciary advisor provide to employees? Will the advisor provide simple retirement plan advice, or will comprehensive financial planning also be included? Is it appropriate to also offer other financial products and services to employees; things like mortgage advice, income tax planning and preparation, and estate planning? If so, how will these services be charged for and compensated? Will the employer foot the bill for all services, or will some services be considered ancillary benefits that come at an extra cost to the employee?
The advantages that employees can reap from a fiduciary advisor are mainly based on getting personal. The employees will have a full-time financial planner who personally knows them and their individual situations and has their best interests in mind when making recommendations. This personal level of service will likely lead to other benefits as well, as the advisor could assist employees in other areas such as budgeting, estate planning, or income taxes.

Once you have a solid understanding of the various aspects of the financial services world, it is time to spend some time talking to the experts. Financial services professionals make a living with their expertise and can help you learn about everything from mortgages and debt management to retirement and estate planning. Some of these topics are covered in seminars, others in one-on-one consultations. You can even pick up a thing or two just by having an informal conversation. Talk to a professional financial advisor, talk to your banker, talk to your accountant and your attorney. Then listen and learn as they share their knowledge.
Dave Ramsey is an American multimillionaire entrepreneur and radio host who has built a strong reputation for eliminating debt. Having filed for personal bankruptcy protection just two years after becoming a millionaire at age 26, Ramsey learned the hard way that being in debt inhibits a person’s ability to create wealth. Since then, he has never borrowed money and often boasts about the fact that he has no credit score.
There are many personal finance experts to learn from. Dave Ramsey, for example, has had a lot of success helping people to live a debt-free life, while Chris Hogan provides great tips and tricks for retirement planning. If you are looking to significantly increase your monthly income, following Grant Cardone might be a smart decision. Whereas Peter Schiff’s podcast can be a helpful resource for those looking to have a better understanding of what’s happening in the economy. And Brandon Turner and Joshua Dorkin from BiggerPockets are wonderful teachers when it comes to learning how to invest in rental property.

Choosing a CERTIFIED FINANCIAL PLANNER™ professional is as important as choosing a doctor or lawyer; it's a very personal relationship. Many CFP® professionals specialize in working with certain types of clients, such as small-business owners, executives or retirees. Some specialize in certain areas of planning such as retirement, divorce or asset management. We recommend you interview at least three CFP® professionals to find the right one that best serves your needs.


You might also encounter financial planners who cater exclusively to the rich and refuse clients with less than $250,000 to invest. Don’t take it personally—hugely successful planners would just prefer to deal with big accounts rather than beginner clients. You want a planner who’ll make the time to focus on your concerns and is interested in growing with you.
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FAS’s approach to investing is strategic. Decades of financial market history shows that tactical investing – altering your asset allocation over time in the hopes of outperforming – often underweights the best performing asset classes. FAS’s Asset Allocation models reduce the tactical high risk of error and rely on a strategic allocation across asset classes. But our strategic models are like no others. The engineering behind them builds on three key insights.
 Broker-dealers are regulated by the SEC, but they are not required to be fiduciaries. Rather, they are held to the “suitability standard”—they only have to prove that an investment is suitable for their client at the time of its purchase, not that the advice was in the client’s best interest. Broker-dealers typically earn a commission on sales of investments.
Some financial professionals such as investment brokers and insurance agents aren’t bound by fiduciary duty. Instead, they’re only required to fulfill a suitability obligation. While fiduciaries must put their clients’ best interests before their own, financial professionals who adhere to the suitability standard must only provide suitable recommendations to their clients.
Compensation: The employer must consider the compensation arrangement required by the advisor. Will the advisor charge hourly or annual retainer fees, or commissions, or some combination thereof? Will compensation for all services be the same? May the fiduciary advisor charge a flat fee for offering retirement plan advice, and then make a commission on the sale of long-term-care insurance to the same employee?

A growing number of financial planners make money only when you pay them a fee for their counsel. These independent financial planners don’t get a cut from life insurers or fund companies. You might pay them a flat fee, such as $1,500, for a financial plan. Or you could pay an annual fee, often 1% of all the assets—investment, retirement, college-savings and other accounts—they’re minding for you. Others charge by the hour, like lawyers.


If you're considering hiring professional help, you'll need to know what to expect from a good financial planner, and how to tell the difference between a salesperson and someone who offers fiduciary financial planning advice and carries valid financial credentials or designation. Hiring the right professional planner starts by understanding what financial planning is and knowing what to expect of the person you might hire.
In January 2016, Hogan made a debut as an author when he published Retire Inspired: It’s Not an Age, It’s a Financial Number. The book, which provides readers with strategies on how to save enough money for retirement, instantly became a hit as it reached number one on several bestselling lists, including The Wall Street Journal and Publishers Weekly. 
Some financial professionals such as investment brokers and insurance agents aren’t bound by fiduciary duty. Instead, they’re only required to fulfill a suitability obligation. While fiduciaries must put their clients’ best interests before their own, financial professionals who adhere to the suitability standard must only provide suitable recommendations to their clients.
A fiduciary advisor, by definition, is an advisor who is paid a retainer by an employer to advise employees on their retirement plan investments, as well as to provide a complete range of other products and services. Fiduciary advisors are not responsible for the entire company's retirement plan; they are only accountable for the advice which they give to employees on an individual basis.
The terms "financial planner" and "financial advisor" typically mean the same thing, but certainly, not all financial planners or financial advisors are alike. The level of education, training, and experience that a professional has will make a big difference in the quality of the advice you receive. Some people do their own financial planning, and others look for professional assistance. An experienced financial planner can usually help improve the quality of the financial decisions you make. 

The Financial Markets Authority (FMA) (formerly the Securities Commission) provides Authorisation to individuals who provide Personalised Financial Advice, Investment Planning Services and/or Discretionary Investment Management Services.[16] Individuals who receive authorisation are referred to as an Authorised Financial Adviser (AFA). In order to receive authorisation, individuals must complete the National Certificate in Financial Services (Financial Advice) (Level 5).
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