What does a Financial Consultant do?
A Financial Consultant, also known as a Financial Advisor, supports individuals and businesses by providing guidance on financial planning, protection, and wealth strategies. The goal is to help clients make informed decisions and achieve their financial goals with confidence.
What is it like being a Financial Consultant?
Being a financial consultant is a rewarding and meaningful career. Here are some key aspects of the role:
Work-Life Balance: You have control over your schedule. Whether you value fitness, family time, or personal growth, this career offers the flexibility to plan your own routine.
No Salary Ceiling: Your income is based on your effort and performance. There is no fixed cap, giving you the opportunity to grow your earnings over time.
Client Interaction: You will spend much of your time meeting clients, understanding their goals, and learning about their financial needs. This role requires strong communication and relationship-building skills.
Growth in Life Skills: You will develop interpersonal skills, problem-solving abilities, and confidence through real client interactions and continuous practice.
Continuous Learning: The financial industry is always evolving. Consultants keep learning about new products, regulations, and market conditions to better support their clients.
Competitive Compensation: New consultants receive a base salary for the first two years, along with performance-based bonuses and incentives such as annual incentive trips. These rewards recognise your effort and commitment.
Becoming a Financial Consultant in Singapore
Updated to the 2024 MAS Requirements
A career in financial advisory is a regulated profession in Singapore. If you are exploring this path, understanding the licensing process will help you make informed decisions about your next steps.
Entry Requirements
To begin the licensing process, you will need to meet the standards set by MAS and your financial institution. These include:
• A full GCE A Level certificate, an International Baccalaureate Diploma, a polytechnic diploma, or an equivalent qualification
• A minimum age of twenty one
• The ability to meet the professional and ethical expectations required of the role
If you are unsure whether you qualify, you are welcome to discuss your background with me.
Licensing and Examinations
Updated 2024 Framework
MAS introduced a revised examination structure in April 2024 for all new financial representatives. The updated requirements include:
RES5 – Rules, Ethics and Skills for Financial Advisory Services
M9 – Life Insurance And Investment-Linked Policies
How My Team Supports New Consultants
The licensing path is the same across Singapore, but the environment you begin in can shape your growth and confidence.
When you explore this career with me, you can expect:
• Guidance in understanding the updated MAS requirements
• Support in identifying the modules relevant to your advisory scope
• Structured learning and mentorship
• A professional environment that encourages growth and development
You can speak to me if you are exploring this career and want to understand how the first steps work.