Financial planning is a saturated field filled with all kinds of people. All sorts of people call themselves life planner, financial consultant, financial planner, etc... by passing just 3 exam papers. The exam papers are not particularly difficult, with materials drawing from 3 books.
Compared to positions of authority such as Engineer or Manager, there's really no pride in the title of financial planner.
In particular, the title doesn't qualify the advisor. It doesn't tell advice-seekers anything about the advisor's qualifications, experience, performance, etc. This fact was proven in my recent encounter near the MRT station. I was approached by a rather young girl, probably a 20 year-old whom I doubt she even knows anything about financial innovations besides good looks and pitches for selling insurance plans.
In a market where all sorts of people can call themselves financial advisor, it's little wonder most people don't believe what they hear, unless it's coming from someone they already trusted.
No comments:
Post a Comment