i've finally mustered the courage to post what i term as the ultimate test of true blue independence. and believe u me, it is really tough to 'show hand (poker language)' through today's blog but here goes.
what do i mean?
there is an on-going debate on the consumers' perception of their ideal financial adviser and ideal compensation model, and depending on what u perceive to be your ideal financial adviser and choice of compensation for your ideal financial adviser, be it purely by commissions, purely fees-based or a combination of commissions and fees, and coupled with the financial adviser's ethics of serving client's interests first, there is still one ultimate test of the financial adviser to be truly independent.
my comments:
but first, please allow me to link this ultimate test to giving. and one of the best definitions on giving (to me) is found in the king james version of the bible in 2 corinthians, chapter 9 verse 7 which says:
Every man according as he purposeth in his heart, so let him give; not grudgingly, or of necessity: for God loveth a cheerful giver.
as i have blogged earlier on july 10, 2010 entitled, mr sub-standard? that all of my prospects/referrals have come in with a perfect score of 100% with medical conditions/history for this year and quoting myself:
at the end of the day, for these type of seeds that we plant may not be enriching in monetary terms but the long term rewards are not lesser in returns because of the far reaching positive consequences from these prospects/referrals who will surely 'advertise' your good works to others.
what i have discovered is the easiest part has been to articulate on what i believe to be the long term rewards, just like a farmer planting and culitivating good seeds, and waits very patiently for the season to harvest the fruits of his labour.
but having said this, this past half year has been the toughest one in my role as an ifa when i could not even generate sufficient monthly income to pay all my bills. and mind u, i am living a simple lifestyle.
a simple lifestyle?
yes, i get around by bmw - bus, mrt and walking from point a to point b), live in a 4-room hdb flat, do not smoke/drink, do not gamble, and i have no expensive hobbies to boast of, etc.
and yes, you may think that what i term as performing 'national' service (doing my utmost to help prospects/referrals with medical conditions/history) is limited to impacting my family and myself negatively.
well, the truth of the matter is my company, church and charities have also been impacted negatively as well through much lower contributions.
there u have it, what i term as the ultimate test of true blue independence during this very lean period of the past half year at least, meant having to live off my own savings and staying focused in my role as an ifa and also, not being distracted by doing other stuff to bring in more bread. |
