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Financial Advisers
By Money Sick | August 7, 2007
What is your view about Financial Advisers? Who are the financial advisers? In the past, we have people who sell insurance, they were called insurance agents. Insurance agents are not very well-accepted by people. The same applies to many sales people. This is because many consumers which are the people who buy things from this salespeople, got themselves cheated or had bad experiences with these people. In the past, salespeople used to go knocking from door to door to sell their products.
In the past, salespeople are not as educated as now. There are no minimum entry requirements for anyone to sell insurance. As long as you can pass the Life Insurance Examination, you have the license, you can sell insurance. It is only a few years ago that the government want to raise the standards of Life Insurance agents. Not only do insurance agents need to pass their examinations and get their licence, they need to have at least 3 GCE ‘O’ Level passes and at least 21 years old. ( MAS: to satisfy the minimum academic qualification and examination requirements as prescribed in the Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers (Notice No. FAA–N07); [Amended on 1 July 2005])
With standards raised, the less educated ones are slowly replaced. Nowadays, we even see more graduates joining the insurance industry. With standard raise, so does the title. Insurance agents have more products to sell. They have more purpose to serve than just to ’sell insurance’. The job of the ‘insurance agents’ are mainly to help families and people to plan for their future, and to provide them with the right education, guiding them, informing them, recommend them the best plans and best advice for them so that their family can have a peace of mind. With that, ‘insurance agents’ are no longer just called insurance agents. The job of insurance agents are noble and great. It is difficult. They are called Financial Advisers now. With better qualification and certification, Financial Advisers can be Financial Planners or Associated Financial Planners. They all serve the same function, to plan for individuals in terms of insurance and investment, to create wealth, retirement needs and medical needs and so on.
The job of financial advisers are not easy. They need to talk to strangers. Everyday they need to talk and talk and talk. Without ‘talking’ there is no chance of sale at all. In the slide, you can see the financial advisers walking around, standing around, trying to earn a living by asking people for CPF investments or Financial Planning. The purpose is to ask help you to get yourself more insurance coverage in case you are not financially protected at all. The financial planners or advisers will do a financial plan for you, planning for you your retirement income needs according to your lifestyle and age of retirement.
Financial advisers serve as your financial consultant where you can ask them anytime if you have anything which you are not sure pertaining to your investments and insurance. They are the ones who will do any hospital claims, death claims for you should you meet with such needs in your life or family.
The next time, when you see financial advisers, try to be nice to them. They had so many rejections. It is tiring. They need lots of motivation as well. Every year, they have to attend training and they have to meet their quota in order to survive in their business. Without life insurance, responsible parents will not die in peace, leaving their children behind. What is life insurance? You need financial advisers who have all the training and expertise to tell you and to plan for you and your family. Give them a chance to talk to you. You may learn more than what you know. If you do not like anything which they say, if you do not agree with anything which they say, no one can force you to invest. No one can force you to sign on any piece of paper at all. You are not obligated to buy anything. Every customers have the right to reject and to choose.
Topics: Business, Life, insurance |
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