Did you know that becoming a financial advisor is a popular career choice in Singapore? There are about 20,000 financial advisors in Singapore today.
Our very own Founder, who is also a Financial Services Director with EVOL has been in the financial services industry for more than 12 years. Today, he will share with the readers his past experience of working as a financial advisor in Singapore.
Becoming a Financial Advisor
I initially started my career in a different field. Having a Master’s Degree in R&D Engineering, I worked at DSO National Laboratories. From there, I started to get my hands on different types of work such as software development, application support, sales, and strategic marketing.
I then became a Marketing Manager in Infineon. The job required me to meet clients and travel around the Asia Pacific region. I truly treasure my time working here because I was lucky enough to be paired with very good bosses and colleagues. I even got promoted four times in a span of six years and successfully earned a very enviable six-figure annual salary.
But I then decided to venture out and start my own business.
Many people were puzzled by my decision to leave my high-income job. They kept on asking me:
“Having such great prospects at Infineon, why did you leave?”
“Why join the financial services industry?”
“Why take such risks when you’re the main breadwinner with two young kids?”
Of course, their questions were reasonable and logical. And the decision to move out of my comfort zone was never easy either. But I was very sure of my next career move.
Why the financial services industry?
In 1993, I received a call from my uncle saying that my dad got into a car accident. I was a final year student at Singapore Polytechnic then, so I rushed all the way to the hospital from my project lab. But when I reached the hospital, I found out that my beloved dad had already passed away.
My late dad was a bus driver and a mechanic. He had just finished repairing his bus and was walking his way home when he was knocked down by a lorry. It was a hit-and-run case. And up until this day, the lorry driver was never found.
With six children, including myself, my mum had to take care of us all on her own. It would have been very difficult for her financially if not for the insurance payout. Had it not been for the gift of love that my dad had planned for us, my mum, who is a housewife with no working experience would have been in dire straits.
Up until this day, I am truly grateful that my dad made the decision to buy an insurance policy. I witnessed first-hand how insurance can help someone’s life. This was one of the main contributors to my decision to leave my engineering job to start my own business in the financial services industry.
Another reason would be job security. Even though I was doing very well at Infineon, I realised that I couldn’t guarantee my job security. Working there means I am susceptible to being retrenched should the economy take a hit. And I saw so many people taking huge pay cuts when forced to move from one job to another. The only way for me to have good job security is to have full control of what happens to me. And the financial services industry allows me to achieve that.
In my previous job, I was always travelling overseas for work. With two young children waiting for me at home, I questioned if that was the lifestyle that I wanted. Another reason why I decided to leave my job was because I wanted to be there for my family and spend more time with them as they grow up. I knew that if I make the career change, I would no longer have to miss out on their lives.
With flexible working hours, I get to attend every school event my children are involved in without having to apply for leave. You cannot imagine the joy of simply watching my little girl winning her medals during Sports Day or celebrating my little boy’s birthday in his childcare centre.
Last but not least, I confidently made the decision to leave my job with a six-digit annual income because it has always been my dream to be financially independent by age 45. At that age, I wish to have options whether or not to continue working without having to worry about money. That is almost impossible in the corporate world. But in the financial planning business, the sky is really the limit—the income is based purely on your effort and there are no appraisals or politics to worry about.
I understood that making the switch to the financial services industry isn’t necessarily easy. I needed to work hard. But I find that this career path is much more exciting. Even now, 12 years into the business, and I’m still looking forward to strategising and growing my business.
If I can do it, so can you
When I first entered this business, I was determined to do well. But my first two years in the business were hectic—I worked seven days a week while making time for my family and jogging to stay fit and healthy.
It certainly wasn’t easy at first. But because of my hard work and determination, I was the First Runner-Up Top Rookie of EVOL in the Year 2009. I remember receiving my award on stage and seeing how proud my wife, kids, mum and brother were.
I was also awarded the membership for Million Dollar Round Table (MDRT®) the first year I entered the industry. The membership represented the top 5% of financial services professionals worldwide. And I managed to reach the top 5% not once, but twice during my rookie years. In 2010, I qualified for my second MDRT®, giving me resounding evidence that I can do well in this business. To date, I have qualified for every Sales Convention of EVOL, including Cruise-To-Nowhere, Bangkok, Seoul, Jeju, Hokkaido, Rome & Vienna, Munich, Macau, and Hawaii.
I also believed strongly in upgrading myself and had obtained the Certified financial advisorTM certification in 2010 and Chartered Financial Consultant® certification in 2012. Both are the highest professional certifications in the industry for recognised individuals who have demonstrated technical competency with combined significant practical financial planning experience.
All of these accomplishments reaffirmed my belief that as long as you work hard, you will be greatly rewarded.
Join EΛOL
If you, too, would like to achieve new heights in your professional career as a financial advisor, I’d say start with EΛOL.
In my many years of experience in the industry, I understand how important it is for financial advisors to utilise digital automation in their services. Here at EΛOL, our financial advisors are equipped with the knowledge and tools needed to maximise work efficiency.
Give yourself a headstart in this career when you join EΛOL. For more information, get in touch with me and let’s have a chat.