Ms Janet started our CFP® certification program in January 2016. She is a financial advisor representative in one of the established local financial advisory firm. She have been doing financial advisory for about 9 years, where she started from an insurance company before moving to a financial advisory company. She graduated with a Diploma in Mass Communciations.
KapitalMinds: Can you share what is the difference between an insurance agent and a financial advisory representative?
Janet: I had a good start as an insurance agent. After which then I switched over to being a financial advisor representative in 2007. I am really enjoying my time in a FA firm. One of the key difference is I can use a wider range of products from various insurance companies to meet my client’s needs and we have a very good platform for managing our clients’ investment portfolio.
I have a strong interest in investment portfolio management, hence I find it very effective to manage my clients’ portfolio using the iFAST and Navigator Investment platform. I can now manage my client’s investment portfolio on regular basis and I find that very useful in helping my client’s work towards their financial goals.
KapitalMinds: Tell us more about your thoughts about financial planning?
Janet: Over the years, I feel strongly that most people should take more ownership about our own personal financial plan. Typically, a lot of people assumes the financial products they sign up would have been recommended based on their best interest. That may not be true.
However, client should also take ownership in understanding that their own circumstances or needs have changed. Hence, these are times when the individual must seek to review their financial needs on regular basis.
I still do encounter people and clients who sign up for financial products without seeing how these products fit their overall portfolio.
KapitalMinds: How does the CFP® program help you with your financial advisory business?
Janet: I believe if we can add value to our clients in drawing out a workable financial plan, then the client should be comfortable in even paying a fee for the plan. I find that the CFP® program helps to lay the foundation of working toward providing a comprehensive solution because it equips me with the knowledge and skill set.
Personally, one of my favourite way to work with my client is to inspire my clients to save toward retirement through sharing unique ideas. I believe client should be inspired to save toward retirement, rather than “scaring” them. I find that Hwee Heng’s (KapitalMinds Module 4 lecturer) sharing during class as very inspiring. His experience in advising clients on portfolio management is quite enlightening and practical.
KapitalMinds: Can you tell us more?
Janet: In Wealth Management, there are many different types of instruments to helping the client’s achieve their goals. For example, in the CFP® program, we learnt about the features and risks of Options, Stocks, Bonds.
What I enjoyed attending classes at KapitalMinds is that the lecturers have the belief that every instruments can fulfil some parts of a financial portfolio. Without the right belief on the instruments available, as advisors, we can subconsciously be directing our client to instruments that may not fit the needs of our client.
KapitalMinds: Anything else you can share with us?
Janet: I find that KapitalMinds are really helpful in arranging the day classes for us because my evenings are typically occupied with meeting clients. If not, I would prefer to spend time with my young daughters.
Furthermore, KM’s class is held within walking distance from my office. So I find that very convenient.