just to share another email query from one of my blog readers:
hi,
i follow your blogs on "excuse me, are u an independent adviser" with much interest but what is the real deal on engaging an ifa versus other financial advisers?
your insights appreciated.
thank you.
mr tan
my comments:
thanks for following my blog, mr tan and i do sincerly hope u will have benefitted from spending your time here.
on your query, allow me to quote from the monetary authority of singapore on guidelines on the use of the term 'independent' by financial advisers (like myself and all advisers in promiseland independent) issued on october 01, 2002 (and updated on july 01, 2005) which states that the following conditions have to be met by the adviser:
1. It does not receive any commission or other benefit from a product provider which may create product bias and does not pay any commission to or confer other benefit upon its representatives which may create product bias;
2. It operates free from any direct or indirect restriction relating to any investment product which is recommended; and
3. It operates without any conflict of interest created by any connection to or association with any product provider.
for more, kindly read my managing director, mr david choo's blog on this:
http://businessbythebook.info/myblog/2010/07/20/excuse-me-are-you-an-independent-adviser/
thank u. |
