best financial advisor in singapore

Saving Up? Here are 7 Financial Advisors You Can Trust

Financial advisors in Singapore earn an average of S$4,695 per month and are one of the most sought-after careers in recent years. Often, many seek professional advice from them realizing that they need valuable financial advice to improve their situation, prepare for retirement, and financially protect their families, especially if they are breadwinners. 

However, these advisors have specific areas of specialties, and it is essential to find one who will be able to help you with your concerns. Understand that financial advice goes beyond just recommending where to invest or what insurance product to get. Instead, it is about understanding one’s overall well-being and the financial goals one wants to achieve.

Finding the Best Financial Advisor in Singapore: 7 Planners to Consider 

Currently, there are 62 licensed financial institutions in Singapore. As the market is heavy on options, we listed some of the finest financial advisors in Singapore, specifically those that provided consistent top performances. 

This list is curated based on excellent customer feedback and recommendations and extensive experience and knowledge in the industry. Here are the 7 best picks:

1. Providend

Providend has been in the industry for more than two decades and is one of Singapore’s most competent financial advisory firms. They are licensed by MAS and specialize in wealth management and retirement planning. Operating on a fee-only basis, they can serve their clients’ best interests with complete loyalty.

Details

Services Offered 

  • Wealth Management
  • Investment Management
  • Risk Mitigation
  • Retirement Planning
  • Tax-efficient Planning
  • Estate Planning

Price Range: 

One-time planning fee of S$5,000

Address: 

38 Duxton Hill, Singapore 089616

Business Hours: 

Mondays to Fridays, 9:00 a.m. to 6:00 p.m. (Closed on Saturdays and Sundays)

Email: 

communications@providend.com

Website: 

https://providend.com/

Social Media:

Facebook, LinkedIn

 

2. Global Financial Consultants (GFC)

GFC started its financial consultation services in 1997 and has grown providing a unique combination of wealth management and advisory products and services. They offer personalized solutions to help people reach their financial goals and build financial security. Moreover, they offer transparency in all aspects of their service and a proactive investment management approach.

Details

Services Offered 

  • CPF Investment
  • Tax Strategies
  • Insurance Products
  • Legacy and Succession Planning
  • Education Planning
  • Savings and Investment Management

Price Range: 

Depends on the type of service

Address: 

14 Robinson Road, #10-01 Far East Finance Building, Singapore 048545

Business Hours: 

Mondays to Fridays, 9:00 a.m. to 5:00 p.m. (Closed on Saturdays and Sundays)

Email: 

info@gfcadvice.com

Website: 

https://www.gfcadvice.com/

Social Media:

Facebook, Instagram, LinkedIn, Youtube

 

3. Dollar Bureau

Formerly Singapore Financial Planners, Dollar Bureau was launched in 2019 and aims to improve the financial literacy of Singaporeans. They provide access to various financial articles vetted for credibility and accuracy. Their advisors provide unbiased, ethical, and genuinely personalized financial advice to suit their clients’ needs.

 

Details

Services Offered 

  • Diverse Insurance Products
  • Financial Advising
  • Retirement Planning
  • Investments

Price Range: 

Depends on the type of service

Address: 

10 Anson Rd, #33-03 International Plaza, Singapore 079903

Business Hours: 

Mondays to Fridays, 9:00 a.m. to 5:30 p.m. (Closed on Saturdays and Sundays)

Email: 

hello@singaporefinancialplanners.com

Website: 

https://dollarbureau.com/

Social Media:

Facebook, Instagram, Youtube, Pinterest, Twitter

 

4. JS Advisory

JS Advisory was founded in 1997 with the mission of forging relationships with clients that are built on trust. Today, its team is composed of highly-experienced individuals who are united by this common goal. Their diverse perspective is key to serving and understanding clients from all walks of life and providing them with only the best financial products and services to suit their needs. 

Details

Services Offered 
  • Life and Health Insurance Plans
  • Life Protection
  • Critical Illness Insurance
  • Personal Accident Insurance and Coverage on Medical Expenses
  • Health and Disability Insurance and Income Protection
  • Employee Benefits
  • Personal and Property Insurance
  • Travel 
  • Savings and Investment
Price Range:  Depends on the type of service
Address:  371 Alexandra Road #04-03 Singapore 159963
Business Hours:  Daily, 24 hours
Email:  jsadvisory@aia.com.sg
Website:  https://www.jsadvisory.sg/
Social Media: Facebook, Instagram

 

5. Financial Alliance Pte. Ltd.

Financial Alliance Pte. Ltd. was founded in 2002 and is an award-winning independent financial advisory firm in Singapore that offers a wide range of comprehensive financial planning services. It prides itself on serving over 50,000 satisfied clients and unbiased independent financial advisors who continue to provide competence and professionalism in the industry. 

Details

Services Offered 
  • Insurance Brokerage
  • Investment Planning
  • Loans Referral
  • Retirement Planning
  • University Planning
  • Wealth Management
  • Wills & Trust
  • Legacy Planning
  • Estate Planning
Price Range:  Depends on the type of service (fee-based)
Address:  150 Beach Rd, #12-01/08 Gateway West, Singapore 189720
Business Hours:  Mondays to Fridays, 9:00 a.m. to 6:00 p.m. (Closed on Saturdays and Sundays)
Email:  enquiries@fa.sg 
Website:  https://fa.com.sg/
Social Media: Facebook, Instagram, LinkedIn, Youtube

 

6. Synergy Financial Advisers

Synergy Financial Advisers is a one-stop solution to all your financial planning needs in Singapore. They help businesses maintain stability through their comprehensive insurance management offers. Known to be a proactive company, its advisors empower and motivate their clients to grow towards financial success. With this goal, they continue to provide training and platforms to develop their team’s competency. 

Details

Services Offered 
  • Life Insurance
  • General Insurance
  • Health Insurance
  • Investments
  • Unit Trusts
  • Business Succession
  • High Net-Worth Planning
  • Tertiary Education Planning
  • Estate Planning
  • Retirement Planning
Price Range:  Depends on the type of service
Address:  229 Mountbatten Road, #03-30 Mountbatten Square, Singapore 398007
Business Hours:  Mondays to Fridays, 9:00 a.m. to 6:00 p.m. (Closed on Saturdays and Sundays)
Contact:  https://synergy.com.sg/contact-us
Website:  https://synergy.com.sg/
Social Media: Facebook, Instagram, LinkedIn

 

7. Expat Advisory Group – IPP Financial Advisers

IPP Financial Advisers is one of the oldest financial advisory firms in Singapore. They have over 300 advisors to help people in all stages of life, whether ex-pats or citizens, with regard to financial needs. They also advise local and international clients on financial investment opportunities and investment portfolios.

Details

Services Offered 
  • Multi-Currency Management
  • Retirement Planning and Pension Transfers
  • University Fee Planning
  • International and Multi-Currency Mortgages
  • Tax Efficiency
  • Legacy Planning, Trusts, and Wills
  • Life and Health Insurance
  • Business Owners Solution
Price Range:  Depends on the type of service 
Address:  78 Shenton Way, Singapore 079120
Business Hours:  Mondays to Fridays, 8:30 a.m. to 6:30 p.m. (Closed on Saturdays and Sundays)
Email: eag@ippfa.com
Website:  https://www.expatadvisorygroup.com/
Social Media: Facebook, Instagram, LinkedIn

 

Here’s a quick recap:

Financial Advisory Firm Best for Specialization Price Range
Providend Business and Personal Use Wealth Management Fixed Fee: S$5000
Global Financial Consultants (GFC) Personal and Family Use Income Protection Depends on the type of service
Dollar Bureau Personal Financial Literacy Depends on the type of service
JS Advisory Personal Insurance Plans Depends on the type of service
Financial Alliance Pte. Ltd. Business and Personal Financial Planning Depends on the type of service
Synergy Financial Advisers Business and Personal Large Corporate Business Solutions Depends on the type of service
Expat Advisory Group – IPP Financial Advisers Business and Personal Use Expat Advisory Depends on the type of service

 

Refresher: What Do Financial Advisors Do? 

Financial consultants or advisors are professionals who get paid for their financial advice and services. People hire them to plan their finances, manage their wealth, and help them achieve a stable financial future. With this, a financial advisor should also be treated as a partner, and one must work hand in hand to achieve success. 

A financial advisor encompasses a variety of titles. They can also be wealth managers, investment advisors or analysts, financial planners, and others. Moreover, financial advisors fall into either of these classifications – fiduciary or non-fiduciary. 

  • Fiduciary. Financial advisors that fall into this category must put your best interests above their own. Often, they are paid a flat fee and are also not allowed to collect commissions or fees from your sales, investments, or trade proceeds.
  • Non-fiduciary. These advisors often work as salespeople for institutions that incentivize them, usually through commissions. 

Here is also an article on healthy money management.

successful asian entrepreneur smiling at office

Pros and Cons of Hiring a Financial Advisor

Handling financial matters is not the same for everyone. While some can handle DIY financial planning, others prefer to hire a professional to help them do it. Whichever way you choose, it is essential to understand and weigh the pros and cons of hiring a financial advisor, more so as it can be costly.

Pros

Hiring a financial advisor can have many potential benefits. This scenario is especially true regarding handling complicated matters like investments and tax. Here are some benefits:

  • Extensive Experience and Knowledge

Most of these professionals have built years, perhaps decades for some, of relevant experience and extensive knowledge by working with different types of clients and financial situations. 

  • Financial Advisors are Better Than Robo Advisors 

In terms of human connection, financial advisors are better than Robo advisors. Also, with a financial advisor, you can get emotional support, more personalized advice, and follow-through over the whole process. 

  • You Save Valuable Time

In terms of investments, you can hire a financial planner to set up your portfolio and track its performance. Thus, you save time, especially if you are a businessman or an employee who needs to focus your time on other essential matters.

  • Getting a Tailor-Fit Plan

Financial consultants always consider each client’s unique financial situation and create a tailored plan to match your needs and goals. 

Cons

Just as there are many benefits, there are also some drawbacks to hiring a financial advisor. Here are a few to mention:

  • Conflict of Interest

Some financial advisors may lack genuine loyalty to their clients and only act in their best interest. Thus, you must look for fiduciary financial advisors who are lawfully required to work for the client’s best interest.

  • Costly Fees

Small-time investors may find financial advisory fees costly and eat up a large percentage of their investment funds or returns. Other advisors may also charge these fees, whether or not your investment makes money.

Ultimately, the decision is up to you, and with diligent research, you can find a reliable financial advisor in Singapore.

2 businessman pointing at laptop discussing

Tips for Finding the Right Financial Advisor

Choosing the right financial advisor for your money matters is a tough life decision. Still, you should diligently try to find the right one for your specific needs. After all, in doing so, they can lift the weight of financial concerns off your shoulder, and you can work harder in peace.

Here are a few tips to help you make a wise choice: 

1. Check which aspect of your finances you need help with.

Before sitting down or scheduling an appointment with a financial advisor, decide which factor of your financial life you need help with. Financial advisors offer a wide range of services, and you need to be guided towards finding one that specializes in your current concern.

2. Find an honest fiduciary advisor.

Consumers looking for fiduciary advisors should also check for their professional credentials. Fiduciary advisory firms invest in their advisors’ education to ensure they stay at par with competitors.

Also, look for non-sales-sounding advisors. Pay close attention to how an advisor may sound during that first meeting. Sometimes advisors who provide their services for free are more of a salesperson than someone who will work in your best interest.

3. Check out a few advisor options.

Don’t settle immediately with the first name you hear. Do your research diligently or ask trusted friends and family for those that they’ve worked with and why they recommend them to others. 

4. Look for fee-only advisors. 

One way to avoid conflict of interest in a client-advisor relationship is to look for fee-only advisors. This way, you pay the advisor for valuable insight, perhaps on a fixed-term period, like hourly or per plan.

Essentially, do not rely on chance when finding the best advisor, as your future is at stake here. It may not be a simple task, but the extra legwork will lead you to someone who will help you achieve your goals.

Skeptical on finding a financial advisor? Try Robo Investing in Singpore.

Closing

Financial advisors come with different specialties and offerings, and caution plays an essential role in this search. Aside from doing research, reading reviews, and feedback, you can also source the finest financial advisors through recommendations from trusted friends and family. 

Key Takeaways

  • Financial advisors offer solutions to help you protect yourself, your family, and your assets.
  • Always get professional advice in making long-term financial decisions.
  • Financial peace is something you can get by hiring a financial advisor.

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