Q1.What is an Independent Financial Advisory (IFA) Firm?
For “INDEPENDENT” Financial Advisory firms such as Financial Alliance, its financial advice must be free from the undue influence of higher remuneration and/or meeting sales quotas. In other words, financial advice from Financial Alliance is given solely in clients’ interests.
A financial advisory (FA) firm wishing to use the word “INDEPENDENT” – as Financial Alliance does – must fulfill the conditions laid down by Monetary Authority of Singapore (MAS) at all times.
Q2. Is an IFA Firm one that offers products from multiple product providers?
No, the mere fact that a FA Firm can sell the products from more than one insurer or business partner does not mean that the FA Firm is “independent”.
In Singapore, only a handful are “IFA Firms” because only a few are able to ensure that the financial advice given is free from the undue financial influence.
As there is no such thing as an “Independent Financial Adviser” license in Singapore, IFA Firms are, in essence, “Financial Adviser” license holders who offer financial advice while being free from undue influence.
Q3. What does it mean for me as a consumer?
We have your best interest at heart and will leave you to make your decision. We only ask that, when you deal with a FA Firm, you find out for yourself if it is truly an IFA Firm or a FA Firm.
If impartial financial advice is what you seek, then you should only engage an IFA Firm.
Zephanie has more than 10 years of experience (since 2010) in the financial industry, spanning compliance, product management, investment, risk management, mortgage loan, estate planning, financial planning and cyber-risk.
She holds Bsc in Commerce (Double Major in Finance & Management). She has attained IBF Qualified for Wealth Management (Priority Banking), ICA Advanced Certificate in Governance, Risk & Compliance) and a Qualifying Member of Million Dollar Round Table.
Her desire to bring financial hope and literacy, motivates her to remain relevant and useful in the ever-changing landscape.
She is representing Financial Alliance Pte Ltd as a Senior Financial Advisory Manager.
MAS RNF ZLX300012197
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In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.
根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.
By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.
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