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Old 02-02-2015, 05:15 PM   #1
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Free financial advice

Hi HWZers

anybody know where I can ask for basic financial advice online for free? For example regarding my current financial situation and what I can do with my money and CPF etc

Thanks!
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Old 02-02-2015, 05:52 PM   #2
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Maybe you should take a look at the info at the CPF website if you have not already done so.

http://mycpf.cpf.gov.sg/CPF/my-cpf/m...vest/MI-15.htm
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Old 02-02-2015, 06:56 PM   #3
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Hi HWZers

anybody know where I can ask for basic financial advice online for free? For example regarding my current financial situation and what I can do with my money and CPF etc

Thanks!
You prefer Free advice to Good advice?

Good advice is not free, because the financial planner has to spend time to understand your financial position before giving advice.

On the other hand, if the type of advice you want is to buy high return low risk stock, this advice is freely available here.
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Old 02-02-2015, 07:44 PM   #4
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On the other hand, if the type of advice you want is to buy high return low risk stock, this advice is freely available here.
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Old 02-02-2015, 07:51 PM   #5
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sukuman never come here and say pple lazy....never come here say who u think u r....
that wu gui must have been strike by lightning already...yesterday still any how scold me. o bi gd.
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Old 02-02-2015, 08:36 PM   #6
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Hi HWZers

anybody know where I can ask for basic financial advice online for free? For example regarding my current financial situation and what I can do with my money and CPF etc

Thanks!
Hi medtner,

I wouldn't mind sharing with you my views with regards to your financial situation. I feel it will be more of a discussion instead. Do let me know if you're keen.

Regards,

Alex
Finexis Advisory
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Old 02-02-2015, 09:48 PM   #7
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sukuman never come here and say pple lazy....never come here say who u think u r....
that wu gui must have been strike by lightning already...yesterday still any how scold me. o bi gd.

Dear all, Sukuman is here? You looking for me? Strike by lightning?? Come lah...lai...lai.....please strike me!!! Please, TrueB1ue. Pray lightning will strike me.
You seem like beh song? Oh...come on..relax..man..Your pride is hurt so easy? EQ must be damm low. I feel sad for you.

Last edited by superman2006; 03-02-2015 at 12:07 AM..
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Old 03-02-2015, 07:35 AM   #8
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Read Shiny Things threads in this subforum
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Old 03-02-2015, 09:19 AM   #9
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You prefer Free advice to Good advice?

Good advice is not free, because the financial planner has to spend time to understand your financial position before giving advice.

On the other hand, if the type of advice you want is to buy high return low risk stock, this advice is freely available here.
I find paid financial advice....very contradictory.

They earn commission from you...naturally means there's a conflict of interest...He sure tell u things u wanna hear so u will buy more stuff/services from him.
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Old 03-02-2015, 09:28 AM   #10
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I find paid financial advice....very contradictory.

They earn commission from you...naturally means there's a conflict of interest...He sure tell u things u wanna hear so u will buy more stuff/services from him.

Fee-Based Financial Planning in Singapore - Wilfred Ling, The IFA on Duty

After you receive the advice, there is nothing preventing you from shopping around and buying the 'product' from another source at a cheaper price.

For example, if the advice you receive is to buy Singapore stocks, International Stocks, and bonds and he gives you the recommended percentage allocation based on an assessment of your risk tolerance, there is no need for you to buy unit trusts from the advisor. Using the recommended portfolio, you can go buy ES3, A35, VRWD by yourself. ... and since you are active in the gold thread, you can add on gold bars as well.
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Old 03-02-2015, 11:52 PM   #11
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I find paid financial advice....very contradictory.

They earn commission from you...naturally means there's a conflict of interest...He sure tell u things u wanna hear so u will buy more stuff/services from him.
I think you're confusing "paid financial advice" and "paid-for-by-commissions" financial advice.

If you're not paying your adviser anything, then he's (or she's) getting paid by commissions on the product he sells you - and that means he's incentivised to steer you toward things with high commissions. That's the conflict. He won't tell you "oh go set up a Stanchart account and buy some ES3, some A35 and some VWRD" because he gets no commission out of that; he'll tell you "oh you should invest in these fraudulent Brazilian housing projects" because he gets a 10% commission, or "oh you should invest in this investment-linked insurance policy" because he gets a 7% commission.

If you're paying your adviser a flat fee, or an hourly rate, and he's not getting commissions from the product he sells you (this bit is important), then there's no conflict of interest. You're hiring him, and you're paying him, so he's incentivised to do a good job for you. This is how I do it.
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Old 05-02-2015, 06:12 PM   #12
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Lots of financial summit and Adam khoo seminar give free financial advice.whether or not u take their advice is another thing.

But if u sit thru their 3 hour talk,sometimes got free buffet and drinks.
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Old 05-02-2015, 07:10 PM   #13
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Lots of financial summit and Adam khoo seminar give free financial advice.whether or not u take their advice is another thing.

But if u sit thru their 3 hour talk,sometimes got free buffet and drinks.
with upsells too
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Old 22-02-2015, 02:21 PM   #14
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with upsells too
and end up poorer after that.
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Old 22-02-2015, 08:33 PM   #15
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I think you're confusing "paid financial advice" and "paid-for-by-commissions" financial advice.

If you're not paying your adviser anything, then he's (or she's) getting paid by commissions on the product he sells you - and that means he's incentivised to steer you toward things with high commissions. That's the conflict. He won't tell you "oh go set up a Stanchart account and buy some ES3, some A35 and some VWRD" because he gets no commission out of that; he'll tell you "oh you should invest in these fraudulent Brazilian housing projects" because he gets a 10% commission, or "oh you should invest in this investment-linked insurance policy" because he gets a 7% commission.

If you're paying your adviser a flat fee, or an hourly rate, and he's not getting commissions from the product he sells you (this bit is important), then there's no conflict of interest. You're hiring him, and you're paying him, so he's incentivised to do a good job for you. This is how I do it.
I personally don't think paid Financial advice will work in the long run. Insurance is sold and not bought.

How much will a fee based consultant charge per hour? My bet likely to be close to lawyers rates. If so, will anyone willing to wake up in the morning to visit and pay a consultant to review his Financial planning? I doubt so.

Furthermore, there is not incentive for a Financial consultant to meet more customers in the long run. If I am a fee based consultant, likely I will charge $200-$500 per hour for the work I do and likely my client base is high networth as they are more likely to pay such fee. Will I bother to meet more customers likely no, will I bother to update my clients if there is a plan likely also no as I don't think my client will pay me a hourly rate for a new plan.

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