Financial advisors are professionals who will analyze your financial situation and help you choose the most suitable financial instrument to help you reach your financial goals. These instruments include insurance coverage, and investment planning, among others.
Financial advisors do not offer these services for free. Typically, they charge 0.5% to 1% of the assets they manage. These charges reduce the more money you save.
Making the right financial decisions takes time, effort, and skill. It is not a one-time thing, and you will need to invest a lot of time in it. Independent financial and institutional advisors will help you save time while helping you make better investment decisions while reducing or minimizing any financial risk.
10 Best Financial Advisors in Singapore
Finding a reliable financial advisor can sometimes be tricky. Here is a look at the top 10 financial advisors you can choose from in Singapore.
1. Providend
| Services | Risk-mitigation planning, Wealth management, planning, Investment Management, and Estate Planning, specializing in retirement |
| Contact Details | +65 6309 2488 |
| Address | No.38 Duxton Hill Singapore 089616 |
| Website | https://providend.com/ |
Provident was established in 2001 as a fee-only financial advisory firm and a registered fund management company. This financial advisory firm serves expatriates and the highly affluent in Singapore. When the firm operates on a fee basis, all the product commissions are rebated back to them, which allows no conflict of interest with their financial advice.
Providend offers a range of financial solutions, and they have built an exceptional reputation over the years. Most of their clients have private banking relationships but engage the firm as trusted advisers for their second opinion.
2. IPP Financial Advisers
| Services | Business continuation planning, Employee benefits planning, Global funds, Financial planning/ Wealth planning, Legacy planning, Global property funds, Comprehensive financial planning, Investments and insurance, Retirement planning |
| Contact Details | +65 6511 8888 |
| Address | 78 Shenton Way #30-01 Singapore 079120 |
| Website | https://www.ippfa.com/ |
IPP Financial Advisers is a licensed financial advisory firm in Singapore. The firm offers customized financial advice aimed at helping you achieve financial freedom. They have a proven methodology in financial planning that has helped them build confidence with their clients. IPP Financial Advisers mainly serves high-income clients in Singapore.
3. Singapore Financial Planners
| Services | Financial advising, Financial planning, Insurance planning, Financial Advisor Intermediary, Retirement planning, Investment planning |
| Contact Details | hello@singaporefinancialplanners.com |
| Address | 10 Anson Road,#33-03 International Plaza, Singapore 079903 |
| Website | https://bevootech.com/ |
Singapore Financial Planners endeavor to make financial planning easy for everyone in the country. Their main goal is to improve financial literacy in Singapore through education. They do not tell you which products to buy and who to trust, but they write guides and reviews on financial products in Singapore to help you make better financial decisions.
Singapore Financial Planners have a strict selection process, and they have, over time, selected different firms in the country that are unbiased and care about your financial needs.
4. Synergy Financial Advisers
| Services | Personal, Corporate, High Net Worth, General Insurance |
| Contact Details | +65 6654 1888 |
| Address | 229 Mountbatten Road #03-30 Mountbatten Square Singapore 398007 |
| Website | https://synergy.com.sg/ |
Synergy Financial Advisers are known for their progressive and proactive financial services. They have carefully thought out processes designed to help their clients achieve the best out of their investments.
Synergy motivates and empowers its clients to grow by providing customized solutions to push them towards financial success.
5. Policy Pal
| Services | Term Life Insurance, Endowment Plans, Retirement Plans, Critical Illness Insurance, Pet Insurance, Travel Insurance, Easy Save V, Whole Life Insurance, Integrated Shield Plans |
| Contact Details |
+65 3163 9184 |
| Address | 38 Eng Hoon Street Singapore 169783 |
| Website | https://policypal.com/ |
Policy Pal is your best bet if you want to invest in whole life, term life, or personal injury insurance. The firm promises to find a life plan to help you maximize the value of your money and your life.
Among the financial services Policy Pal offers to include Medical Expenses, Death Benefits, Temporary Disability, and permanent and partial disability. You have the option of purchasing insurance for yourself or your family members.
6. Financial Alliance
| Services | Personal financial advisory, Fee-based advisory, Corporate Financial Advisory, Private wealth advisory, Islamic wealth advisory |
| Contact Details |
+65 6222 1889 |
| Address | 150 Beach Road #12-01/08, Gateway West Singapore 189720 |
| Website | https://fa.com.sg/ |
Financial Alliance is managed by industry experts and delivers comprehensive and impartial financial services to clients aligned with their interests. The firm empowers its clients to access the best financial products and services.
With over 15 years of experience, Financial Alliance has gained massive recognition in Singapore for its services. They have a Fintech infrastructure that narrows down financial products offered by the different financial institutions in Singapore to help you choose the best services for your desired financial goals.
7. Manulife Financial Advisers
| Services |
Business Financial Advisory: Keyman Protection, Commercial Business Insurance Personal, Business Succession Planning, Employee Benefit Schemes, inclusive Insurance Plans Life and Health insurance, Children’s Education Funding, Savings and Investment, Retirement Planning, Home Protection, Legacy Planning Policy |
| Contact Details |
+65 6807 2250 |
| Address | 103 Penang Road #02-01 Vision Crest Commercial Singapore 238467 |
| Website | https://www.manulifefa.com.sg/ |
Manulife Financial Advisers offer a range of financial solutions, including investment, insurance, and retirement needs. The firm is committed to putting the need of the clients first.
Manulife Financial Advisers is backed by Manulife Singapore, a Canadian-based financial services group with operations in Canada, Asia, and The United States. The global financial consultants are well positioned to offer flexible financial solutions with the international group’s strong governance and financial backing.
8. Expat Advisory Group
| Services | Multi-Currency Wealth Management, University Fee Planning, Legacy Planning, Trusts and Wills, Tax Efficiency, Business Owners Solutions, Life and Health Insurance International and Multi-Currency Mortgages, Retirement Planning and Pension Transfers |
| Contact Details |
+65 9320 9737 |
| Address | 78 Shenton Way, Singapore 079120 |
| Website | https://www.eag.ippfa.com/ |
Expat Advisory Group is among the leading financial advisory firms in Singapore. The firm has received numerous accolades over its years of service from local and international clients.
Expat Advisory Group offers various services, including retirement preparation, tax performance, and life and health insurance.
9. Great Eastern Life
| Services | Life Insurance, Wealth Accumulation, Travel Insurance, Car Insurance, Home Insurance, Maid Insurance, Retirement Plan, Prestige Series, Health Insurance, Personal Accident Insurance |
| Contact Details | +65 6248 2211 |
| Address | 1 Pickering St, Singapore 048659 |
| Website | https://www.greateasternlife.com |
Great Eastern Life is among the oldest firms in Singapore to help clients achieve stable and safe wealth. The firms have a detailed and secure plan to help protect your family’s future. The firm also offers health policies, wellness programs, and comprehensive insurance policies.
Great Eastern Life is among the finest financial advisors in Singapore, and they ensure that they offer financial stability for their businesses and families.
10. GFC Global Financial Consultants
| Services | Education Planning, Retirement Planning, Regular Savings/Investment, Portfolio Management, Income protection, U.K SIPP & Pension Transfers, Legacy & Succession Planning Critical Illness Insurance, CPF Investment, Tax Effective strategies |
| Contact Details |
+65 6532 2711 |
| Address | 14 Robinson Road, #10-01 Far East Finance Building, 048545 |
| Website | https://www.gfcadvice.com/ |
Founded in 1997 in Australia, Global Financial Consultants has over 20 years in the field and offers PRs, ex-pats, and Singaporeans a unique blend of financial services. The Monetary Authority approves all the products and services offered by the firm of Singapore.
GFC Global Financial Consultants has a diverse team of seasoned consultants ready to help you achieve your financial goals ranging from retirement, schooling, and acquiring a new home. Global Financial Consultants offer their clients the perfect blueprint to achieve financial well-being.
Things to Consider Before Hiring a Financial Advisor
Finding a financial advisor who communicates and has your best interest at heart is essential. Before settling for one, it is also important to get one with whom you share similar values. Below are the most important factors to consider when selecting your ideal financial advisor:
1. Understand Compensation
When choosing a financial advisor, one of the most critical questions is how much they will be compensated for their services. It is crucial to understand whether the advisor will be compensated for the products they sell or buy you directly.
Remember that not all independent financial advisors are required by law to place your interests first. Therefore, it is imperative to be aware of any conflict of interest. Request a breakdown of the fees for all the products and services before you take on an advisor.
2. Pick Services That Meet Your Financial Goals
Before you take on any advisor make sure that you know the services you are getting. Financial advisors have different specializations. For example, there are experts in life insurance assistance, while others are great with college savings and retirement planning.
Ensure that you ask the right questions to determine the expertise of the financial advisor in question. This way, you can choose an advisor with the specific services and skills you need for a long-term engagement.
3. Understand the Legal Standards
Financial advisors must operate under two industry standards, suitability and fiduciary. Once you know the standard the advisor operates on, you will know the legal accountability for the recommendation they provide.
The Suitability standard requires the investment to fit the clients’ investment objective, experience, and time horizon, but they are not legally bound to put the client first. The Fiduciary Standard requires that the financial advisor puts the interest of the client first before theirs.
4. Evaluate the Firm’s Affiliations
Most financial advisors are closely affiliated with other firms that may hold their loyalty. Different financial advisors have different business structures, but it is crucial to determine whether the firm is acting independently while making recommendations.
5. Do A Background Check
It is also best to do a background check on your financial advisor since you will trust them with your money. Check for any complaints on www.adviserinfo.sec.gov. You need to type in the advisor’s name for the details.
6. Third-Party Custodian
It is essential to check whether the advisor uses an independent custodian for your assets. Having a third-party custodian protects you from fraud.
7. Services Offered
You must understand the types and levels of services the financial advisor offers. Find out which financial planning software they use and whether or not you will have access to the software.
8. Education and Events Offered by The Advisor
If you are interested in learning about your assets’ protection and growth, you need to understand your advisor’s policy on education, investment funds, and other assets.
9. Trust Your Gut
Once you have done your due diligence with the research, you need to trust your intuition. Ensure that you can easily talk to your advisor and that you trust them.
Don’t have the funds to hire a financial advisor? Try our guide on Robo Investing in Singapore.
Closing
Financial advisors help make informed financial decisions while minimizing or eliminating investment risks. Getting a reliable financial advisor aligned with your investment goals and needs will be a game changer for your finances. You will quickly build your wealth while ensuring that your family is protected.
Key Takeaways
- Financial advisors help you make informed financial decisions while protecting you from risks.
- Ensure that you understand the legal requirement of your financial advisors.
- A great financial advisor understands your needs and recommends various financial products to help you reach your goals.
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