MAS is planning to introduce a test for bank relationship managers in Singapore. According to MAS, the test will judge the credentials of the bank relationship managers so as to serve the customers more fairly.
These test ideas were initiated by the financial regulators and fielded to financial industry players for comments. Now, these moves will be studied and implemented. The latest test rule was introduced after bank relationship managers were blamed for mis-selling the mini bonds of Lehman Brothers in 2008. Read it all..
Unless you are an employed Financial Planner, being a Financial Adviser is like running a small business. And like all businesses, there is the sales/marketing, finance, operations, personnel and customer relationship management aspects in running a profitable Financial Advisory Practice. Therefore having a good business plan/strategy and being able to execute it well, is the difference between a good and an excellent financial adviser.
