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Client Owned Adviser® also known as COAdviser™
Highest Quality & Stringent Selection
A COAdviser™ must fulfil ALL 7 of the following Criteria:
Must be an Independent Adviser. Cannot be an exclusive agent of a single insurer or a salaried employee of a bank. The financial institute owned by any product manufacturer (eg. insurer) must be less than 50%.
Why? Isn’t it obvious? In fact, some product manufacturers form separate companies to "push" their products by incentivising "independent" advisers.
Has Direct Access to multiple product & service providers.
Why? This is absolutely necessary for competitive analysis to get the best deal.
Registered with the Monetary Authority of Singapore (MAS).
Why? No cowboys allowed here.
Holds a Professional Qualification like CFP, ChFC or IBF Advanced.
Why? Anything less would be a compromise on the quality of advice.
Has at least 5 Years’ of Practical Experience advising clients in holistic wealth management covering cash management, insurance, investment, real estate, retirement advice, etc.
Why? You won’t want a houseman as your surgeon.
Offers Fee-based Advice & cannot have a commission-only model.
Why? This is to avoid commission bias as well as to segregate the planning and implementation stages for a client-first process.
Provides an ongoing client advice on Retainer Service.
Why? A client-first adviser should provide a good follow up service. Growing wealth is like nurturing a child. It is a continuous process.
"It all boils down to 2 Different Models and Philosophies:
the Salesperson versus the Professional."
— Genevieve Cua, Personal Finance Editor
| Salesperson | Professional |
|---|---|
99% of 20,000+ |
1% of 20,000+ |
Company Owned Loyalty to Company through Volume of Products sold |
Client Owned Loyalty to Clients through Quality Advice |
Commission &/or Salary Paid by Bank, Insurer or Financial firm |
Commission or/& Fee On Clients' Payroll |
Sales Quota Performance Benchmark |
Acquire Clients Value through Economy of Scale |
Product Centric Product & Presentation to fit plan |
Advice Centric Understand, Analyse then Plan |
Focused Concept or Modular |
Holistic Detailed & Tailored |
Single Supplier Represents Only One bank or insurer |
Multiple Suppliers Access to Many Financial Institutes |
Bureaucratic Limited Services |
Open Platform Comprehensive |
Persuasive Comfort, Friendly, Relationship |
Educational Knowledge, Skills & Strategies |
Decision through Emotion Greed, Fear, Psychology, Wants, etc. |
Decision through Logic Recommendation by Industry Standards |
Dependent Trust, assumption, etc. |
Empowerment Power through Education |
Minimum Qualifications Company Awards & Designations |
Professional Designations Industry Certifications (CFP® or ChFC®) |
Subsequent Review New Product Purchases or None |
Yearly Review Holistic Wealth Management |