As a Banking and Financial Services Recruitment Specialist, I partner with a range of Banking AND Financial Services clients who are consistently seeking Wealth Managers.
Wealth Managers are generally divided into two primary categories: Bankers and Financial Advisors/Consultants (FAs).
- They offer clients valuable guidance aimed at enhancing financial well-being and achieving specific objectives, such as Wealth/Health Protection, Savings, Investment growth, Retirement Planning, and more
- They interact regularly with clients, often needing to explain complex financial products and services in simple terms and provide exceptional customer service to foster trust
Core Differences between being an FA and Banker:
1) Remuneration
- FA: Self-Employed individuals receiving Commissions (uncapped income ceiling and no KPIs)
- Banker: Permanent Employment which offers fixed Basic Salary and opportunity to earn more through KPI-based Commissions
2) Client Acquisition
- FA: Approach Warm Market (family/friends) + Roadshow, Events + Social Media Marketing + Cold Calling
- Banker: Serve Branch Walk-Ins + Cold Calling (through access to Bank's client database)
3) Products
- FA: Full suite of Insurance Products + Funds + Other Financial Planning services (Wills and Trusts, Estate Planning, etc.)
- Banker: Broad suite of Insurance Products (provided by Bancassurance Partner) + Funds + Secondary Banking Products & Services
4) Working Arrangement
- FA: Fully Flexible - As self-employed individuals, FAs choose their own working days and hours as long as they are able to achieve the income they wish to earn
- Banker: Regimental - KPI-driven management, 5.5 work days, and high frequency of after-office appointments
5) Minimum Education Requirements
- FA: Minimum GCE 'A' Levels, or Diploma from a local Polytechnic, and above
- Bank: Diploma from a local Polytechnic, or Degree of any discipline, and above
In general, part-time Private Diplomas (e.g. Kaplan, MDIS, PSB Academy, etc.) do not meet MAS requirements.
Please feel free to reach out if you'd like to verify your specific qualification.
Requirements
- Singaporean Citizens and Permanent Residents (PRs) ONLY
- Upon being shortlisted, pass all Core CMFAS papers before commencement (guidance provided)
Apply Now
Submit your application via the Quick Apply button
OR
Contact Wein Ng for a confidential discussion/consultation via
Why Apply Through Me?
I offer tailored recommendations based on your requirements and factors such as:
- Basic Salary or Allowance/Advancement/Incentive Scheme
- Range of Products and Services (e.g. Life/Health Insurance, Savings/Endowment Plans, Funds, Trust/Estate Planning, Will Writing, etc.)
- Methods for lead generation and client acquisition
- Earning Potential
- Quality of training and mentorship
- Effectiveness of back-office support
With my proven track record and knowledge, I seek to help jobseekers navigate the recruitment process and find the right opportunity to match their career goals.
We regret that only shortlisted candidates will be notified.
EA Personnel Name: Ng Weineng
EA Personnel No: R
EA License No: 02C4944
SCR-wein-ng