Wondering when inflation will simmer down and what to do with hiking prices? It’s high time that you take control of your finances!
There are plenty of budget-saving and investment tips online. You can also ask for advice from family, friends, and even Instagram influencers.
However, the expertise of qualified and reliable financial planners can cut through the noise. They can provide expert money advice that is tailored to your needs and goals.
Financial Planner vs Financial Advisor: Which One Do You Need?
The terms financial advisor and financial planner are usually used interchangeably. Both of these professionals work with clients and provide financial advice. But there are distinct differences between these two professionals.
- Financial Planners: These professionals offer holistic financial advice to meet their client’s long-term financial goals. Typically, financial planners map out a plan for budgeting, saving, investing, and retirement planning.
The financial strategy will be revisited every few years and revised if necessary for better results.
- Financial Advisors: This is a broad term for a professional who helps you manage your finances. These professionals can help manage your investments, buy or sell stocks, create a comprehensive estate or tax plan, and more.
Additionally, financial advisors may earn commissions on some of the products they sell. Lastly, they may charge hourly or flat fees for their services.
Is It Worth Paying for a Financial Planner?
But before that, you need to understand how much financial planners cost in Singapore. These professionals can charge between 0.5% and 1% of the investments they manage. On top of that, you may also need to pay the following fees:
- Consultation Fee: This covers the financial planner’s time, costs, and expertise. This type of fee is usually a one-time upfront fee.
- Investment Fee: If the financial planner uses an investment platform, they may charge you a percentage of your total investments. Investment fees can be categorized further into:
- Sales Charge: You will be charged every time you place an investment – monthly or lump sum. The charge can cost between 0.75% and 1.5%.
- Performance Fee: As your money grows, the financial planner will take a percentage for helping you grow your wealth. This fee ranges between 1% and 1.5% per year of your total assets under the financial advisor’s management.
So, do you need a financial planner?
It depends on your unique situation – the complexity of your finances, how comfortable you are managing investments, and what your financial goals are. Here are a few situations wherein you may need a financial planner:
- You were recently married and need to manage your finances as a couple
- You recently got divorced or lost a spouse and need to improve your financial situation
- You just had a child and want to make sure they are provided for
- You want to ensure that you have enough savings for your child’s education
- You want to dip your toes into stock investing or diversifying your portfolio
8 Best Reliable Singapore Financial Planners
The best financial planner is someone who can close the gap between where you are financially and where you would like to be.
Currently, there are 63 licensed financial institutions in Singapore. As such, making the right decision about choosing a financial planner requires a lot of information-gathering and a bit of self-reflection. Here is a comparison table to help you get started:
| Financial Advisory Firm | Best For | Specialization | Price Range |
| Global Financial Consultants (GFC) | Tailored Financial Solutions | Pension plans for seniors | Depends on the type of service |
| Dollar Bureau | Financial Planning and Literacy | Financial articles to improve financial literacy | Depends on the type of service |
| Providend | Holistic Wealth Management | Estate planning services | One-time planning fee: S$5,000 |
| IPP Financial Advisers | Client-Focused Financial Planning | Uses Four Wealth Model – Wealth Accumulation, Wealth Protection, Wealth Management, and Wealth Distribution | Depends on the type of service |
| Synergy Financial Advisers | Bespoke Financial Planning Solutions | Personal, corporate, and high net-worth solutions | Depends on the type of service |
| Karen Tang Certified Financial Planner | Wealth Accumulation and Protection | Comprehensive planning including, education planning and retirement planning | Depends on the type of service |
| Ian Pryor | Expat Financial Planning | Wide range of financial and portfolio management | Depends on the type of service |
| SingCapital Pte Ltd | Financial Health Check | Comprehensive financial planning, insurance, investment, and CPF planning | Depends on the type of service |
1. Global Financial Consultants (GFC) – Best for Tailored Financial Solutions
Global Financial Consultants have over two decades of financial advisory experience. They have been recognized for creating personalized personal financial plans that will suit their client’s specific financial goals. They also provide different educational, retirement, and investment options.
Highlights
- Excellent pension plans for seniors.
- Legacy and succession planning
- Education planning to find the most suitable financial arrangement for your child’s education
Price Range
- Reach out to GFC for a price quote
Contact Information
- Website:
https://www.gfcadvice.com/ - Phone:
+65 6532 2711 - Address:
14 Robinson Road, #10-01 Far East Finance Building, 048545 - Operating Hours:
Weekdays: 9:00 am to 5:00 pm
Reviews
“Michael Davidson took over my portfolio from another financial institution where I had 2 previous relationship managers. Michael has outperformed both of them in the last 12-18 months by 30%. I highly recommend Michael due to his pragmatic approach and astute investment mindset.”
“Our contact in GFC is Jarrad Brown and while being young he has a strong and in-depth knowledge of markets, taxation and investments. He is incredibly responsive to emails and messaging apps. Key to me is his understanding of both Singapore and Australian rules and regulations that minimize our exposure and maximize returns. Always a pleasure dealing with Jarrad and the rest of the team at GFC Singapore.”
2. Dollar Bureau – Best for Financial Planning and Literacy
Previously Singapore Financial Planners has now been acquired and rebranded to Dollar Bureau. While Dollar Bureau, in itself, isn’t a financial planning company, they help connect clients to credible and reliable financial planners. To ensure that you are connected with the best financial planner, each of their partners regularly undergoes training to improve their analytical skills.
Highlights
- Provides access to financial articles to improve your financial literacy.
- A wide range of financial products from various financial advisory firm partners
- Presents client-focused solutions
Price Range
- Dollar Bureau is not a financial advisory company, they do not charge a fee to connect to a financial advisor
Contact Information
- Website:
https://dollarbureau.com/ - Phone:
+65 6532 2711 - Address:
10 Anson Rd, #33-03 International Plaza, Singapore 079903 - Operating Hours:
Weekdays: 9:00 am to 5:30 pm
Reviews
“Singapore Financial Planners connected me with Edward and I found him to be super professional. He took the time to really understand my needs and provided insights that I never knew about. One of the most trustworthy advisors I’ve met definitely. Recommending without a doubt!”
“Dollar Bureau financial advisors are some of the best I’ve encountered in recent years. Their staff is pretty knowledgeable about the products and services. Also, the support team responds to issues on a timely basis. Highly recommended.”
3. Providend – Best for Holistic Wealth Management
While Providend presents itself as a financial advisory firm, it also offers a wide range of financial planning solutions, including estate planning and wealth management. In fact, they are recognized as a specialist in retirement planning to ensure that you’ll get to enjoy your golden years.
With their holistic wealth management services, their team of professionals will get to know your lifestyle, goals, and values. Only then can they develop a long-term financial plan to achieve your goals.
Highlights
- First fee-only financial advisory firm in Southeast Asia
- Specializes in estate planning services.
- Strong emphasis on ethical business conduct.
Price Range
- One-time planning fee: S$5,000
- On-going advisory services: 0.5% to 1% p.a. of the investments
Contact Information
- Website:
https://providend.com/ - Phone:
+65 6309 2488 - Address:
No.38 Duxton Hill, Singapore 089616 - Operating Hours:
Weekdays: 9:00 am to 6:00 pm
Reviews
“Having been with Providend for almost a decade, we love how this fee-based approach has worked for me and my family. Strategic and objective, yet empathetic to our needs, risk appetite and perspectives. I would recommend Providend to anyone looking for an unbiased approach to start growing your wealth as well as to get necessary protection and insurance in place.”
“Providend helped us work out our financial planning for our retirement years with cost-effective investment plans. We appreciate the honest straightforward advice that is free of gimmicks. The team is very clear and comprehensive.”
4. IPP Financial Advisers – Best for Client-Focused Financial Planning
IPP Financial Advisers provide their clients with tailored financial planning to help them achieve their unique financial goals. They use a proven 6-step methodology that favors needs-based advice. Their finest financial advisors will take into consideration their client’s needs around Wealth Accumulation, Wealth Protection, Wealth Management, and Wealth Distribution.
Highlights
- Helps optimize your income and savings to reach your goals
- Offers a comprehensive range of life and health insurance solutions
- Uses four wealth model – Wealth Accumulation, Wealth Protection, Wealth Management, and Wealth Distribution
Price Range
- Reach out to IPP Financial Advisers for a price quote
Contact Information
- Website:
https://www.ippfa.com/ - Phone:
+65 6511 8888 - Address:
78 Shenton Way #30-01 Singapore 079120 - Operating Hours:
Weekdays: 8:30 am to 6:30 pm
Reviews
“I have known & worked with Alex Ang of IPPFA for close to 10 years. He has always been a hardworking & conscientious financial advisory consultant who put his client’s interests first. I would like to commend Alex for his dedication & professionalism in his work!”
“I have recently invested in a savings plan with IPP and I found them to be very transparent, helpful, and competent.”
5. Synergy Financial Advisor Singapore – Best for Bespoke Financial Planning Solutions
Whether you need insurance, investment, or financial planning solutions, Synergy can provide you with expertise in navigating complex products. They will advise you on which one will suit your lifestyle and risk profile best. Best of all, they can provide you with bespoke financial planning services to manage your investments as well as health and disability insurance.
Highlights
- Offers personal, corporate, and high net-worth financial solutions
- Sound financial health management for high net-worth
- Wide range of insurance policies that cover you from personal to property and motor insurance
Price Range
- Reach out to Synergy for a price quote
Contact Information
- Website:
https://synergy.com.sg/ - Phone:
+65 6654 1888 - Address:
229 Mountbatten Road, #03-30 Mountbatten Square, Singapore 398007 - Operating Hours:
Weekdays: 9:00 am to 6:00 pm
Reviews
“It was a pleasant experience buying a policy from Jody. She was patient and capable of explaining the variety of policies available and addressing any queries I had. I feel that Jody is an advisor who is genuine about addressing her clients’ needs. She is firm but never pushy. I would gladly recommend Jody to my friends who are in need of more coverage.”
“I was recommended by a friend of mine to Adeline. Adeline is very enthusiastic and knowledgeable about the work she does and always takes the initiative to ensure that everything is fine. I trust Adeline with my plans and feel very assured that she will be there to answer and clarify any doubts I have. If you require someone to look after your best interests, you can count on Adeline to be the right person.”
6. Karen Tang Certified Financial Planner – Best for Wealth Accumulation and Protection
Karen Tang is a Certified Financial Planner and one of the best independent financial advisors in Singapore. She provides comprehensive and ongoing financial planning so her clients will achieve their needs and desires. She helps clients in following through with their financial commitment by prioritizing goals and providing steps they need to take.
Highlights
- Certified Financial Planner
- Associate Estate Planning Practitioner (AEPP)
- Comprehensive planning includes wealth protection, wealth accumulation, education planning, and retirement planning.
Price Range
- Reach out to Karen Tang for a price quote
Contact Information
- Website:
https://karentang.sg/ - Phone:
+65 6252 8500 - Address:
133 New Bridge Road #20-06/08, Chinatown Point, Singapore 059413 - Operating Hours:
– Weekdays: 9:00 am to 6:00 pm
– Saturdays: 10:00 am to 1:00 pm
Reviews
“Karen has been an invaluable source of financial advice for our family for over 10 years now. She understands what is most important for the family and always provides sound advice. She never pushes unnecessary products on you. We are so glad to have met Karen. You only need to meet her once to know that she genuinely wants to look after you.”
“Karen has been an amazing resourceful person referred by a good close friend of mine. And I have to say the level of detail, time, and effort she had taken to go through my current state and propose what I can work on short term and long term was simply very detailed. I liked her approach overall and the questions she raised on many elements, which I had not fully thought through. I am very grateful to have someone like Karen as my mentor.”
7. Ian Pryor – Best for Expat Financial Planning
A trustworthy financial planner, Ian Pryor offers expert financial planning services to expatriates and high-net-worth local and international clients across Asia. With over a decade of experience in financial services, he is highly qualified in providing expert advice in financial planning and portfolio management.
Highlights
- Offers long-term services
- Financial planning for expatriates
- Expertise in a wide range of financial and portfolio management, such as retirement planning insurance, written financial plans
Price Range
- Reach out to Ian Pryor for a price quote
Contact Information
- Website:
https://www.eag.ippfa.com/ian-pryor - Phone:
+65 9320 9737 - Address:
78 Shenton Way #06-01 Singapore 079120 - Operating Hours:
Weekdays: 8:30 am to 6:30 pm
Reviews
“I have known Ian Pryor professionally for a period of 4 years. During this time, Ian has provided me valuable insight, financial advice, and looked after my portfolio with impeccable professionalism and integrity. I have no hesitation in endorsing Ian for his unique skill set and talents. He is an asset and credit to IPP Financial Advisers.”
”Ian is professional, comprehensive and really takes the time to understand your investment needs. We’ve been working together for almost a year, and what I really love is his proactive, innovative approach to investments. I highly recommend working with him.”
8. SingCapital Pte Ltd – Best for Financial Health Check
SingCapital Pte Ltd offers top-quality financial services and solutions – personal and business. The finance and investment solutions they offer include comprehensive financial planning, life insurance, retirement planning, investment advisory, and CPF planning. On top of that, they are also an exempt direct insurance broker for General insurance.
If you wish to avail of their services, SingCapital also offers free personal health checks valued at S$250 when you complete an interest indication form on their website.
Highlights
- An exempt direct insurance broker for General Insurance
- Free personal financial health check upon completion of online interest indication form.
- A strong advocate for financial literacy
Price Range
- Reach out to JS Advisory for a price quote
Contact Information
- Website:
https://singcapital.com.sg/ - Phone:
+65 6801 4088 - Address:
60 Paya Lebar Rd, #09-01 Paya Lebar Square, Singapore 409051 - Operating Hours:
Weekdays: 9:00 am to 6:30 pm
Reviews
“Actually, I was quite reluctant to meet him, thinking that he was one of those insurance agents. However, it was not what I initially thought it to be. In fact, I have gained valuable information after that.”
“Always available to help make our insurance simple and relevant. Eric has been helping my family navigate the often complex world of insurance for many years. Whenever we have questions about our policies, he is always available to help us and makes sure we understand all of the details and insurance language.”
Closing
Effective financial planners provide guidance that will help you reach your financial goals. This may include investment management and strategy. Additionally, financial planners may also provide specific services, such as education planning, retirement planning, and insurance protection.
Key Takeaways:
- The terms financial advisor and financial planner are usually used interchangeably. But there are distinct differences between these two professionals.
- Financial planners offer holistic financial advice to meet their client’s long-term financial goals.
- Financial advisors can help manage your investments, buy or sell stocks, create a comprehensive estate or tax plan, and more. They may also earn commissions on some of the financial products they sell.
- You may need a financial planner depending on the complexity of your finances, how comfortable you are managing investments, and what your financial goals are.
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