Why I Rejected The Banking Industry

Why I Rejected The Banking Industry

How It All Began

As my final year in Singapore Management University (SMU) came to a close, I began putting deep thought into the path I was going to take with my career. With my degree in Bachelors of Business Management, I always imagined myself joining one of the major banks and working my way up from there.

Why I Rejected The Banking Industry — Engage

For years, I had an ambition to work as an investment banker, with the idea that these investments will in turn benefit the less fortunate in the long run.

While sending out my resumes, I wanted to weigh all my options to make sure I made the right decision.

First, I wanted to know what it was really like to work in the financial space right now.

Thankfully, my mum, having worked in the financial space for 30 years, was able to arrange a few meetings with her close friends in the industry for me to seek advice from them and gain insight on what career options were available to me.

It was one of these meetings that in particular stood out to me, and gave me a whole new perspective of the finance industry today.

Little Did I Know

One of my mum’s friends was the CEO of a family office, and during the meeting I mentioned how I was deeply interested in investment planning as a career. She just asked me one question:

“Why?”

I explained to her about the ambition I had, and how I thought this would be a way I could help both the rich as well as the less fortunate.

It was then that she introduced me to the harsh reality that in this line of work, investors are only concerned about their returns and will close a blind eye to almost anything else.

I left the meeting devastated, because I realized that if I continued down this path, my work would never be able to bring the positive impact I was aiming to provide the people around me.

Finding My True Calling

After that fateful meeting, I needed some time to rethink my career path.

I asked myself, what were my goals for my career?

Apart from earning a living wage, I knew that helping those around me with the financial knowledge I possess was what truly brought me a sense of satisfaction.

My mum has been a financial advisor for over 30 years. During these years, I’ve had the privilege of witnessing how she helped her clients by giving the right advice and ensuring that they are well protected financially.

Many of her clients became close family friends, as my mum was always there to assist them with their finances in times of need.

While there are many advisors like her in the industry, there were also many others who were solely driven by commissions. These advisors would sell products that were irrelevant for the client, and would go as far as to misinform the clients of the benefits of such products just to confirm the sale.

There has always been this gap in the industry, and my ambition for myself was to change that, through assisting my clients with only impartial, unbiased information solely to help them in the long run.

However, to truly remain impartial, I knew that joining a tied agency might hinder that. With that in mind, I began hunting for a company that could provide me with the right resources and whilst remaining impartial with their financial advice.

After interviewing more than a dozen companies, I joined Financial Alliance, as it checked all the boxes that I was looking for.

Although being new to the industry, each time I successfully helped someone with my financial advice affirmed for me that I’ve chosen the right path in the financial space.

There were so many cases where my clients were misinformed by their previous advisors, and were sold products which weren’t even suited for them.

But after understanding their financial needs and situation, I was able to fix the problem rather than prolong it. These clients value my honesty, the client-advisor relationship we have, and that I’m not talking to them just to push products.

So after much soul-searching & that fateful meeting with my mum’s CEO friend, I’m glad to say that I’ve found something I’ve always wanted to do in the financial space …

To be a financial advisor who will give accurate, impartial advice that will help my clients make the right decisions when it comes to their finances.

My goal is to remain in this business for the long run and serve all my clients with the unbiased financial advice they deserve to hear.

With these goals in mind, I can’t wait for what’s in store for me and my career in the year 2022!

Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

Published By:

Gabriel Lim

Gabriel strives to provide a positive impact to his clients, as well as the people around him. The values of honesty and integrity have been deeply entrenched in him from young, and he strongly believes in transparency and providing only impartial unbiased advice, something which he feels he can make a difference in the industry.

Having graduated from Singapore Management University with a Bachelors of Business Management, Gabriel Lim has chosen the path of becoming a financial consultant under Financial Alliance.

He constantly works to improve his skills and knowledge of the business with the goal of being the most valuable asset in financial planning to all his clientele. This is captured by his firm belief in providing his clients with peace of mind, to help bring them one step closer to achieving all their financial goals in life.

 

To find out more about Gabriel, click here!

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