As you explore the world of financial planning in Singapore, you may come across various professionals offering their services. It is essential to understand the difference between a financial planner and a financial advisor, as these terms are often used interchangeably. While financial planners focus on creating a comprehensive financial plan for you, a financial advisor typically provides advice on specific financial products and investments.
Before deciding whether to pay for a financial planner, consider their value and impact on your financial goals. Financial planners in Singapore typically charge 0.5% to 1% of the investments they manage, so it’s essential to evaluate if their expertise and advice justify the cost. Keep in mind that a well-crafted financial plan can significantly benefit your long-term financial health, making their services potentially worthwhile.
Selecting the right financial planner depends on your specific needs and financial objectives. It’s crucial to assess their experience, qualifications, and range of services to ensure they align with your goals. Understanding the normal fees for financial planners and the value these professionals bring can help you confidently choose the most suitable financial planner for your unique financial journey.
Benefits of Working with a Financial Planner
Working with a financial planner can bring numerous advantages to your financial life. Here are some key benefits that you can gain:
- Personalized Financial Plan: Tailored financial strategies based on individual goals and risk appetite.
- Expertise and Knowledge: Access to deep insights on financial products, strategies, and market trends.
- Simplified Decision Making: Clear guidance through the complexities of financial decisions.
- Disciplined Approach: Encourages regular savings and focused, long-term financial management.
- Stress Reduction: Professional oversight provides peace of mind and reduces financial worries.
Top Financial Planners in Singapore
When evaluating financial planners in Singapore, it’s crucial to consider a set of standardized criteria to ensure you’re working with a qualified professional who can cater to your specific needs. Below are some essential parameters to consider:
- Qualifications: Check if they have relevant financial degrees or certifications, such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA).
- MAS-Licensed Partners: Ensure that the planner is licensed by the Monetary Authority of Singapore (MAS) or affiliated with a licensed financial advisory firm. This ensures that they are operating within the regulatory framework set by Singapore’s central bank and financial regulatory authority.
- Experience: Experience often translates to a deeper understanding of market trends and client needs. Some planners may specialize in areas like retirement planning, wealth management, or tax planning. Choose one that aligns with your objectives.
- Fees: Understand if they charge a flat fee, hourly rate, or a percentage of assets under management. They should provide a clear breakdown of all fees, ensuring there are no hidden charges.
- Customer Reviews: Platforms like Google reviews, Trustpilot, or industry-specific sites can offer unbiased opinions.
Now that you have an idea of the criteria you should look for in a financial planner, it’s time to take a look at some of the best financial planners in Singapore.
| Financial Planner | Best for | Main Services |
| Global Financial Consultants (GFC) | Those seeking customized and comprehensive financial planning | Wealth Management, Retirement Planning, Estate Planning, Risk Management and Insurance, Tax Planning, Education Planning |
| Providend | Individuals seeking a fee-only approach to financial planning | Wealth Management, Investment Management, Risk Mitigation, Estate Planning |
| HL Assurance | Individuals seeking different insurance solutions | COVIDSafe Travel Protect360, Health and Disability, Life, Motor, Travel, Home Insurance |
| Synergy Financial Advisers | Individuals looking for customized wealth management strategies | Insurance Advisory, Investment Advisory, Retirement and Estate Planning, Tax Planning |
| SingCapital Pte Ltd | Individuals seeking comprehensive financial advisory services | Corporate Financial Planning, Insurance Consulting, Investment Management, Retirement Planning, Estate Planning |
1. Global Financial Consultants (GFC)
Global Financial Consultants (GFC) is a financial advisory firm based in the heart of Singapore’s financial district. In order to help safeguard their clients’ financial future, GFC provides a tailored and client-centric approach to financial planning. The firm caters to expatriates, PRs, and Singapore citizens, ensuring that all their clients receive top-notch financial advice and guidance.
GFC has a team of dedicated financial consultants with expertise in various areas of financial planning, ensuring that you receive personalized and comprehensive advice that suits your financial needs and goals.
Price Range: Reach out to GFC for a price quote
Services
- Wealth Management: This can involve a variety of investment solutions and strategies, portfolio construction, and ongoing monitoring and adjustments.
- Retirement Planning: GFC’s financial advisors will work with you to create a tailored retirement plan to help you achieve your desired lifestyle in retirement.
- Estate Planning: GFC can assist you in developing an estate plan, including creating wills, trusts, and other legal structures to protect your assets and beneficiaries.
- Risk Management and Insurance: They can advise you on appropriate risk management and insurance strategies to safeguard your financial well-being and that of your family.
- Tax Planning: GFC’s experts can provide guidance on tax-efficient strategies to help you minimize your tax liabilities, making sure that you are not paying more taxes than you need to.
- Education Planning: Their financial advisors can create a financial plan to ensure that you have sufficient funds to cover your child’s education expenses.
Contact Information
- Address: 14 Robinson Road, #10-01 Far East Finance Building, 048545
- Phone: +65 6532 2711
- Website: https://www.gfcadvice.com/
- Social Media
Reviews: 4.8 stars on Google Reviews
2. Providend
Providend is a fee-only wealth advisory firm in Singapore that focuses on helping you manage your wealth and make the right financial decisions. Their experienced advisers have expertise in various aspects of wealth management, ensuring that all their services revolve around your life priorities. With a focus on independence, honesty, and competence, Providend is paid only by its clients, and all product commissions are rebated back to them.
Price Range
One-time planning fee: S$5,000
On-going advisory services: 0.5% to 1% p.a. of the investments
Services
- Wealth Management: Their independent financial advisors work with you to create personalized financial plans, incorporating investment management, risk mitigation, and estate planning.
- Investment Management: They will work with you to develop a diversified investment portfolio that matches your risk tolerance and financial objectives.
- Risk Mitigation: Their financial advisors will help you identify potential risks and incorporate suitable risk management strategies into your financial plan to protect your assets and ensure long-term wealth preservation.
- Estate Planning: Providend’s wealth advisory team offers estate planning services to guide you in protecting and transferring your wealth to the next generation. They can help you create a comprehensive estate plan that includes wills, trusts, and other protective measures to ensure your wealth is preserved and distributed according to your wishes.
Contact Information
- Address: No.38 Duxton Hill, Singapore 089616
- Phone: +65 6309 2488
- Website: https://providend.com/
- Social Media
Reviews: 4.7 stars on Google Reviews
3. HL Assurance
HL Assurance is a member of Hong Leong Group, a conglomerate with diversified businesses in sectors such as banking, financial services, manufacturing, distribution, property development, investments, hospitality, and leisure. Their presence spans across Asia, Europe, North America, and Oceania. With a commitment to providing the best financial planning and insurance services, HL Assurance caters to various personal and business needs.
Price Range: Reach out to HL Assurance for a price quote
Services
- COVIDSafe Travel Protect360: A travel insurance product designed to cater to travelers’ needs during the pandemic, offering an extra layer of protection for your journeys. You can even get an additional 5% discount when using the promo code GROUPBUY5.
- Health and Disability Insurance: Choose from various health insurance plans that help you cover the costs of medical treatments and healthcare expenses, ensuring you and your family are well taken care of during times of illness or injury.
- Life: Protect your loved ones with a life insurance plan, ensuring their financial security and well-being even in the unfortunate event of your demise.
- Motor: Cover yourself from financial losses due to vehicle accidents, theft, or damages with comprehensive motor insurance plans tailored to your needs.
- Travel: Enjoy total peace of mind while exploring the world, with travel insurance products that provide coverage for unforeseen events such as medical emergencies, trip disruptions, and baggage loss.
- Home: Safeguard your home and its contents from fire, theft, and other perils with a comprehensive home insurance policy.
Contact Information
- Address: 11 Keppel Rd, #11-01 ABI Plaza, Singapore 089057
- Phone: +65 6702 0202
- Website: https://www.hlas.com.sg/
- Social Media:
Reviews: 4.5 stars on Google Reviews
4. Synergy Financial Adviser Singapore
Synergy Financial Advisers is a proactive, progressive, and reliable financial advisory firm based in Singapore. The company is committed to challenging the status quo and setting a new standard in financial guidance. In order to maintain the highest level of professionalism, Synergy’s management team consists of experienced practitioners and industry experts who work together to develop their people and processes.
Price Range: Reach out to Synergy for a price quote
Services
- Insurance Advisory: They offer guidance on life and general insurance products to help you secure your finances and protect your loved ones. As an Exempt Insurance Broker and Licensed Financial Adviser, you can be assured that their recommendations are impartial and tailored to your needs.
- Investment Advisory: Synergy is qualified to advise on investment products such as collective investment schemes, securities, and life policies, enabling you to make well-informed decisions about your investments.
- Retirement and Estate Planning: Synergy’s financial advisors will help you plan for a comfortable retirement, ensuring you have sufficient savings to maintain your desired lifestyle.
- Tax Planning: Their team of experts can assist you in optimizing your tax strategies, ensuring you meet your financial goals in a tax-efficient manner.
Contact Information
- Address: 229 Mountbatten Road, #03-30 Mountbatten Square, Singapore 398007
- Phone: +65 6654 1888
- Website: https://synergy.com.sg/
- Social Media:
Reviews: 4 stars on Google Reviews
5. SingCapital Pte Ltd
SingCapital Pte Ltd is a Monetary Authority of Singapore (MAS) licensed Independent Financial Advisory Firm and Insurance Broker regulated under the Financial Advisers Act and Insurance Act of Singapore. As one of Singapore’s leading Independently Owned Financial Advisory Firms, SingCapital is dedicated to providing quality financial services and solutions for individuals and corporations.
Price Range: Reach out to SingCapital Pte Ltd for a price quote
Services
- Corporate Financial Planning: They help corporations by analyzing their financial statements and determining their financial status. They focus on improving a business’s profitability, cash flow, activities, and solvency as cornerstones for your corporation’s growth.
- Insurance Consulting: SingCapital provides comprehensive insurance advice, helping you choose the most suitable insurance policies to ensure adequate protection for yourself, your family, or your business in the event of unforeseen circumstances.
- Investment Management: They offer a variety of investment options tailored to your preferences and help you achieve your financial objectives.
- Retirement Planning: SingCapital works with you to create a well-thought-out retirement plan, ensuring that you have a comfortable and financially secure future in your golden years.
- Estate Planning: SingCapital assists you in creating a comprehensive estate plan, covering aspects such as will-writing and setting up trusts.
Contact Information
- Address: 60 Paya Lebar Rd, #09-01 Paya Lebar Square, Singapore 409051
- Phone: +65 6801 4088
- Website: https://singcapital.com.sg/
- Social Media:
Reviews: 4.5 stars on Google Reviews
Final Word
We’ve highlighted the importance of working with a professional financial planner and provided you with resources to help you choose the best advisor for your needs. These professionals provide valuable assistance in managing your finances and planning for your future while living and working in Singapore.
Key Takeaways:
- Independent financial advisers in Singapore are regulated by the Monetary Authority of Singapore (MAS) for more reliable services.
- Choose financial planners that specialize based on your specific needs, such as Global Financial Consultants (GFC) for tailored financial solutions or SingCapital Pte Ltd for a thorough financial check.
- Comprehensive financial planning covers all aspects of your financial well-being to help you make informed decisions.
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