The average Singaporean family produces 1.2 offspring, or in other words is not replacing itself according to a report in today's Straits Times.
Amid high inflation, low interest rates and a booming economy, Singapore has been getting tough on immigration. The ministry of manpower has been encouraging the hiring of Singaporeans and making it tough to hire expatriates, especially those who are not qualified to degree level.
The report indicates between 20 and 25,000 foreign employees need to be attracted to the country each year.
With its low taxation and high living standard Singapore is an attractive workplace for many.
Mark Paine
Meyado
Tuesday, April 24, 2012
Friday, April 6, 2012
Fee based advice in Singapore
Is this truly going to be helpful to the consumer?
For our target client, the answer is yes. There is a 'but', inevitably. This is the requirement for a fundamental change in the shopping habits of investors.
In the past clients have been able to obtain recommendations from any number of advisers, completely free of charge. They can then, on balance, make a decision to go with the recommendation they like best, or the adviser they feel most comfortable with.
With a fee based approach most firms will offer a free initial consultation, usually lasting 30 minutes or so. After this, time will be billed. This is a revolutionary change for investors used to having fees hidden away in commissions.
The common perception is that products will be cheaper using this approach. This is a double edged sword, cheaper does not necessarily, or indeed usually, mean better. Further, indemnified commissions are paid up front based on a percentage of monies invested. Ongoing fees will rely on a percentage of the assets managed which would increase over time and may in the long run cost more.
From the perspective of the adviser there is a clear view of the way the industry should develop to provide value to investors and facilitate lasting relationships on a win win basis. At this stage I am not sure the average consumer is quite ready for that and there needs to be a fundamental change of attitude toward investing.
Mark Paine
Meyado
Www.meyado.com.sg
For our target client, the answer is yes. There is a 'but', inevitably. This is the requirement for a fundamental change in the shopping habits of investors.
In the past clients have been able to obtain recommendations from any number of advisers, completely free of charge. They can then, on balance, make a decision to go with the recommendation they like best, or the adviser they feel most comfortable with.
With a fee based approach most firms will offer a free initial consultation, usually lasting 30 minutes or so. After this, time will be billed. This is a revolutionary change for investors used to having fees hidden away in commissions.
The common perception is that products will be cheaper using this approach. This is a double edged sword, cheaper does not necessarily, or indeed usually, mean better. Further, indemnified commissions are paid up front based on a percentage of monies invested. Ongoing fees will rely on a percentage of the assets managed which would increase over time and may in the long run cost more.
From the perspective of the adviser there is a clear view of the way the industry should develop to provide value to investors and facilitate lasting relationships on a win win basis. At this stage I am not sure the average consumer is quite ready for that and there needs to be a fundamental change of attitude toward investing.
Mark Paine
Meyado
Www.meyado.com.sg
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