ZY Finance

ZY Finance Building a team of young and driven individuals in the financial services industry - bringing out th

Grateful and thankful for the people that I've crossed path with in this industry. 😀😀😀
13/04/2022

Grateful and thankful for the people that I've crossed path with in this industry. 😀😀😀

Hi Readers!I hope my 8-part series has been useful in providing you an insight on the career as an FA. If you like my co...
30/03/2022

Hi Readers!
I hope my 8-part series has been useful in providing you an insight on the career as an FA. If you like my content, be sure to click Follow, or Share my previous post.
Think you are a good fit and exploring a career switch into finance? Join in our Ask Me Anything (AMA) Session hosted by me ZY.
Forget boring job interviews. This is the perfect opportunity for an uncut session on the FA career that you want to know everything about. The job prospects, the culture of the organization, how it enables you to achieve financial independence and take back control of your time to do the things you want to do. Interview me instead!
We will be having 2 sessions in April. Mark the dates!
9th April (Sat) - 2pm to 4pm (Booking Code 0904)
11th April (Mon) - 7pm to 9pm (Booking Code 1104)
Only 8 Slots available per session!
If you feel going alone is a little intimidating, bring a friend or loved one along. This is the perfect opportunity for a no-filter session on the FA career - everything you want to know.
If you would like to attend one of the sessions, TYPE ‘’ZY0904’’ or ‘’ZY1104’’ under the comments, and I will PM you to reserve your seat.
Book your slot today before it runs out! 📲

Part 7 of 8I share with you the aspects of Joint Field Work - a rite of passage new associates (could it be you?) go thr...
21/03/2022

Part 7 of 8


I share with you the aspects of Joint Field Work - a rite of passage new associates (could it be you?) go through once you begin your career as a financial advisor. Quite timely as I just came back from ‘’field work’’ aka reservist.

Curious Readers have asked:


This is part of the internal onboarding process that ensures new agents are able to fulfill the complete sales process. Basically, the managers participate in your client meetings to make sure you are presenting the factual stuff, and do proper client analysis. So that you will provide the suitable solutions for the client according to his/her needs.

Another purpose of JFW is that it provides on job training for new associates, so that managers can assist new associates in addressing real client concerns which they may not be familiar with.



When I first joined, it was a major change in environment. Being an introvert myself, it was uncomfortable to suddenly have to go meet people to discuss personal finance goals. The thought itself was daunting. But that was where I did my JFW with my manager.

While having a manager tag along for joint field work can be intimidating (you want to impress while at a new job don’t you?), he/she can actually help in answering some technical questions that your prospects may ask. This also ensures new associates are communicating proper and accurate information.

Besides, we can tap on leaders' and seniors’ years of experiences, skills, knowledge and expertise to learn quicker on the job. I read somewhere that says ‘’While it is wise to learn from experiences, it is wiser to learn from the experience of others’’. That can never be more apt here. Because as a self-employed individual, you would want to reduce avoidable mistakes and gain proficiency as quickly as possible. No better way than learning from people who have done it before.



When you are new, we try to go for as many JFW sessions with you as possible until you attain a proficient level of your sales process and advice. At least they know that when they join, we aren't throwing them into the sea but there to help them whenever they need.

Even for senior agents, we still go to JFW sessions with each other to exchange ideas and pick up valuable concepts to add into our own presentations.

In short, we will be here to support and train you, until the day you feel competent and ready to go for client meetings on your own. Because we want you to succeed.


- Don't be shy to ask and it is important to be curious to ask.
- Different advisors in our team have different specializations in market and products. So you can tap on their knowledge and expertise in dealing with certain client profiles (eg. Investments or Estate Planning).


- I will join in client meetings with you (with the client’s blessing - of course). This is so that we can observe and listen to the discussions.
- Whenever necessary, I will step in when clients ask too technical questions which you might not be able to answer.
- A feedback session will be done after on what is good and points to improve.
- As an agency leader, I also help assure your clients should they have doubts about committing to a new advisor.
- This works for you as the client will learn of the organizational support you are getting as a new advisor, giving the client a peace of mind that his portfolio is under the care of committed and dedicated advisors.

If you have read till this point, I thank you for taking time to read my experience. If you could relate my story to yours, I want you to know that there is a platform out there that allows you to harness your talents and skills to make a good income, and at the same time allow you to pursue your hopes and dreams. However, I also understand that there are many questions you may have about this career. After all, a career is something we do for the long run. It is a decision not to be taken lightly.
Stay tuned for part 8!
ZY
Have an open mind. DM me to have an exploratory chat on a career in personal finance! 😊

Part 6 of 8 Hey guys, hope you had a great week! Last week, I covered one of the career progression routes, which is to ...
14/03/2022

Part 6 of 8



Hey guys, hope you had a great week! Last week, I covered one of the career progression routes, which is to be an Agency Leader. However, not everyone may aspire to be one. So this week, let me give you an insight into the other career path - a Producer role.

You will begin the role by working hard to build your clientele base. My organization provides a robust lead generation platform to build your base quickly in 12 months. You can find out more information via my Ebook (DM me for more details).

After a year or so, when you have established a strong clientele base, you can consider venturing into areas of specialisation. As FAs, it is important to constantly be updated on the present and future economic challenges clients face (think the impending GST hikes, inflation etc). Because you can then come up with creative solutions for their portfolio in the areas of Risk Management (Insurance), Asset Accumulation & Retirement. In my view, a competent FA should be:

- Well read about govt policies. (Usually involving the 4 areas: CPF/HDB/IRAS/MOM)
- Well updated the market (to empower clients to make informed investment decisions)
- Constantly upgrading his/her knowledge to provide deeper level advice. For instance, Estate Planning (as fancy as it sounds, it is something that impacts everyone).

While an FA role is a sales-based role, it is imperative to realize that the work we do is an important and noble one. Your work allows families to weather financial uncertainties if a breadwinner gets struck with a major illness, or in some cases - death. Your work also ensures a child secures a university education in the future. Plus with an aging population in Singapore, your work also helps someone have the luxury to choose whether to work or not, because they took action on their retirement goals with you.

So you see, the work that we do has a real impact on individuals & their families. This is what keeps me going day by day. And I want to invite you to explore a rewarding career with me.

If you have read till this point, I thank you for taking time to read my experience. If you could relate my story to yours, I want you to know that there is a platform out there that allows you to harness your talents and skills to make a good income, and at the same time allow you to pursue your hopes and dreams. However, I also understand that there are many questions you may have about this career. After all, a career is something we do for the long run. It is a decision not to be taken lightly.
Stay tuned for part 7!
ZY
Have an open mind. DM me to have an exploratory chat on a career in personal finance!

Part 5 of 8This week, I share an aspect that is important to job seekers - Career Progression. In the FA industry, you c...
07/03/2022

Part 5 of 8



This week, I share an aspect that is important to job seekers - Career Progression. In the FA industry, you can choose to explore one of two paths - Leadership or Producer. For this post, my focus will be on Leadership.

As a Leader, you will start on the path of a Manager, and progress all the way up to a Director. Curious readers have asked:

Q1. How long does it take to progress to a manager role?
As we all know in the corporate world – promotion depends on many different factors, such as available openings, time spent in working for the company, qualifications and so on.

Whereas in the FA industry, the model here is based on merit - clock your sales and you are qualified for promotion. It is after all a sales based role. You have to go out there and bring in business.

Insurers rely on a direct sales force to distribute its financial solutions, instead of a brick and mortar model. Picture this - if there’s a physical store selling insurance, would people walk in and buy?

Moreover, in the insurance industry, there is always a vested interest within the whole agency – when you do well, your upper management will do well as well. Thus, so long as you fulfill the requirement, you can rise up quite quickly.

Q2. What are the requirements?
Formally there are some requirements, such as having a number of associates under your care, in order to get promoted. I shall leave out the details as it is quite lengthy so DM me if you wish to find out more.

Other than the material qualifications, leaders are also judged on our personalities and temperament, so that we are a good fit for the team. Examples of qualities include being coachable, accountable, driven, like-minded. This is so that associates who join us will be aligned on the main goals, while pursuing their individual goals.

Q3. What difference does it make between manager and producer (other than income)?
- Producer – responsible for the well-being of our clients; only have to care about my own income level, and if not desirable, find ways to increase my own sales and income.
- Manager – responsible for the well-being and ‘’wealth being’’ of our associates. As leaders, we must ensure that our associates are earning a sustainable income so that they can stay long in this industry. We provide support in leads generation and sales for. As I mentioned, there is a vested interest in the whole agency as we will always want our associates to earn a decent income, and from there our own income will increase as well.

Q4. What qualities are necessary to be a manager?
Saying what they do, and Doing what they Say - For myself, the promise to my associate is that I will personally mentor/coach them in their journey here. Whatever I ask my associates to do, I will do it together with them.

I will also dedicate my time to go for joint field work together with them - a session where I sit in for their client meetings to assist them in answering client concerns.

Approachable – I want to be the one my associates approach when they face difficulties – both for work or personal challenges.

Q5. How does the organization support my career growth in terms of skills upgrading?

- (Personal Growth) – Personal Development; Effective Communication; System and Process in our daily work; Strategic Planning, Recruitment & Agency Culture.

- (Valued Adding Clients) – how to provide infant massage, postnatal care, postnatal nutrition wellness (allows us to have a conversation with mummies/mummies to be)

- Point to Note. As FAs, self employment is akin to running a business. And our knowledge is our best asset. Thus, constant upgrading is up to us. Upgrading ourselves is a form of investment as the more knowledge we have, the better we can value add our clients. Some aspects of my value-add consultancy include areas like Business Succession, Wills & Trusts, Estate Planning, Retirement Planning, etc.

If you have read till this point, I thank you for taking time to read my experience. If you could relate my story to yours, I want you to know that there is a platform out there that allows you to harness your talents and skills to make a good income, and at the same time allow you to pursue your hopes and dreams. However, I also understand that there are many questions you may have about this career. After all, a career is something we do for the long run. It is a decision not to be taken lightly.
Stay tuned for part 6!
ZY
DM me to have an exploratory chat on a career in personal finance!

28/02/2022

Part 4 of 8



This is a topic that both people interested in this career and existing consultants may struggle with. I am willing to share my experience because I believe in paying it forward. More importantly, this enables you to avoid the mistakes I made, so that you can progress faster in your financial consultancy career.

Based on my experience, a lot of the struggles would be on prospecting, not so much on the advisory work itself.

Some anxieties of generating leads include (but not limited to):
Not enough people to meet
Not having the right tools to identify qualified prospects
Not doing proper cost analysis (high cost-per-acquisition)

As financial advisors, we are self-employed. It is crucial to run this practice akin to running a business. Thus, we have to wear multiple hats - One of a business owner, a financial advisor, a marketing executive….you get the drift. Thus, a robust and cost efficient way to acquire clients would be beneficial to my practice.

This is why I am thankful to be part of a team that is dedicated to market research on personal finance trends in Singapore. Consumer engagement behaviors are constantly evolving over the years. Thus, it is crucial to be at the forefront of those changing dynamics in order to serve our clients well in the area of personal finance.

Our platform allows advisors like myself to access qualified leads at an effective cost per acquisition (CPA). No more throwing your money in expensive campaigns blindly without positive resulting outcomes!

If you would like to find out more about how I do my leads generation, I have a free EBook to hand out. This Ebook shares my prospecting methods I have done, what has worked and what has not. I learned it the hard way so that you don’t have to.

All you need to do is share this post to someone that may be thinking of a job switch, and reach me via wa.link/ubj7wg and I will send you a PDF copy of my prospecting methods for Free!

If you have read till this point, I thank you for taking time to read my experience. If you could relate my story to yours, I want you to know that there is a platform out there that allows you to harness your talents and skills to make a good income, and at the same time allow you to pursue your hopes and dreams. However, I also understand that there are many questions you may have about this career. After all, a career is something we do for the long run. It is a decision not to be taken lightly.
Stay tuned for part 5!
ZY
DM me to have an exploratory chat on a career in personal finance!

Part 3 of 8 Here’s a snippet of my daily activity:Morning- We will conduct group level meetings in the morning. Topics d...
21/02/2022

Part 3 of 8



Here’s a snippet of my daily activity:
Morning
- We will conduct group level meetings in the morning. Topics discussed would be market updates, local news (think Budget 2022), refresher on products, as well as bouncing off sales ideas among colleagues that were useful in closing deals.
Afternoon
- There will be a minimum of 2 appointments in the afternoon. Once the day is done, I will be doing my daily call session which is usually an hour long. This is where I make discovery calls with potential clients to explore potential gaps in their personal finance portfolio, and see if we are a good fit to work together in the long run.
Evening
I usually have an evening appointment over dinner. If not, then I head home to rest and recharge, spending much needed quality time with my family.
I will spend some time planning for the following day, such as preparing complex cases for discussion, improving current business processes and client engagement.
Curious readers have asked me:
Where do you source your current leads?
- My team has a robust lead generation system that allows us to access qualified clients, while maintaining cost efficiency.
- Over the years, I have created a referral programme that allows a consistent pipeline of new clients, while building on existing clients relationships.
More on Leads Generation in Part 4 of 8 :)
How different was your prospecting from Year 1 compared to now?
Year 1 - Plenty of roadshows. I clocked 12-hours roadshows every other day. Intense stuff.
Year 2 - Covid-19 hit. Roadshows were no longer viable. Thankfully, my team was proactive in coming up with creative lead generation initiatives to ensure we can still prospect and build our pipeline, while still working within the constraints of the pandemic.
Year 3 - I have built a sizeable clientele that allows me to enjoy repeat business. At the same time, these clients become friends, and they refer me to their personal network. So my time and efforts now are channeled into portfolio reviews and client referrals.
What are clients' most preferred time slots to meet?
Before covid, it was mostly weekday nights and the weekends.
During Covid-19, when WFH measures kicked in, more people worked from home. This resulted in a big shift in appointment hours as the flexibility allowed them to meet during work breaks via teleconferencing. That also increased my appointments per day as I did not have to spend time traveling, and used the time saved to have more virtual meets.
What do you do once appointments are done?
(Eg. Research, read up current finance affairs, come up with referral pitches)
- home to consolidate policies of clients, come up with a proposal that address the prospect’s top concern
Any platforms that my team has to help generate more leads?
- My team prides itself in the value added services that we can provide our clients.
- It makes our industry less transactional and more relational.
Any personal projects you are working on?
- I am hoping to achieve my personal FYC target by July before my wife delivers so that I can stay home for a month or two at least to be hands on house husband 🤣
- Also looking for individuals who are accountable and coachable to expand my team.
If you have read till this point, I thank you for taking time to read my experience. If you could relate my story to yours, I want you to know that there is a platform out there that allows you to harness your talents and skills to make a good income, and at the same time allow you to pursue your hopes and dreams. However, I also understand that there are many questions you may have about this career. After all, a career is something we do for the long run. It is a decision not to be taken lightly.
Stay tuned for the next episode - Leads Generation

ZY

DM me to have an exploratory chat on a career in personal finance!

14/02/2022

Part 2 of 8



In this part 2, I wish to share about what I went through - a given rite of passage of any FA in this business. I hope to provide you an insight as to the various challenges I went through, so that if you are exploring this career, this is what you can expect.
1) Initial Struggles
One of the main challenges that advisors face at the start will always be building their clientele base. As the business involves speaking to the general public about personal finance, I remember feeling torn between building my business through the cold market, where I meet strangers or the general public who enquire about financial planning solutions. Or my warm market - family, friends, and my personal network. Because I was still new, I did not feel confident reaching my warm market as yet. In the end, I joined an FA agency that focuses primarily on the cold market, so I did not have to approach my warm market.
However, everything comes with a cost. I started off with roadshows - think those booths you see in public shopping malls. Yes I was there toiling about 8 hours a day, sometimes for 3 to 4 days. I held on to each prospect tightly, as it meant being able to generate some sales to get things going. We had to pay for a slot in the roadshow, as there are booking fees and the like. It was stressful having to spend and then not having sales coming in as quickly as I would have liked.
On top of that, I was in this Entrepreneur Power Scheme (EPS), a course for newcomers to get us up to speed. It was painful having to juggle classes in the morning, while going for appointments & roadshows. I had to wear many hats - one of a student, one of an advisor, and another of an entrepreneur. It really pushed me to my limits.
2) That ONE BIG Break
For advisors, MDRT - Million Dollar Round Table is an award that recognises the top 10% of financial advisors in the industry. And no, it does not mean I make a million bucks (at least not yet, hopefully). If you are curious to find out, Seedly covered an article discussing what it is. You can read more about MDRT on that page.
In my 3 full years of sales, I missed the first two years. They came quite close. However, in 2021, my 3rd year, I finally managed to get it. Personally, MDRT to me is a testament to the trust given by my clients in me and my planning. While I understand (and you probably do too) that this industry is very sales driven, I always believe in “先做人，后做事“. Loosely translated would be to first ‘’do the right thing, before doing the work’’. This means that my approach to business would be to first take care of the prospects' needs, and when they take up my proposed solutions, then they would naturally take care of mine.
3) Highlights
I have quite a few highlights, but if one were to stand out, and as cliche as it sounds, it is actually the friendships forged with my clients.
Imagine having clients inviting me over their homes for CNY dinner, Christmas dinner, and birthday dinner, etc. It is a blessing for some clients who treat me like their own family member. Moreover, they want to play a small part in my success by inviting their friends and family members over and introducing them to me. I truly am grateful for these little gestures.
4) Low Light
As you know, life is not all sunshine and rainbows. When I started my career in November 2018, for 4 months, the outflow of money was more than my inflows. It was a struggle to the point I found relief because Chinese New Year was round the corner, and I had some angbao money to tide through the dry spell while waiting for business to pick up.
Since then, we learned new ways of prospecting, new ways of planning for clients. And gradually, business picked up. I did not struggle as much anymore.
5) Claims Experience(s)
So far, I have not made any major claims for my clients – except for minor surgeries and accident claims. These claims remind me once in a while why I get up to work. And I know the solutions that my clients take up from me will take care of them in the unforeseen circumstances.
If you have read till this point, I thank you for taking time to read my experience. If you could relate my story to yours, I want you to know that there is a platform out there that allows you to harness your talents and skills to make a good income, and at the same time allow you to pursue your hopes and dreams. However, I also understand that there are many questions you may have about this career. After all, a career is something we do for the long run. It is a decision not to be taken lightly.
Stay tuned for the next episode - Day to Day Activities. Photos coming up!

ZY

DM me to have an exploratory chat on a career in personal finance!

07/02/2022

Part 1 of 8



From an aspiring vet to a financial advisor, things didn't pan out the way I expected. Here’s my story:

After I finished my JC, I wanted to pursue veterinary studies. However, veterinary programs were only available overseas, and were pretty expensive. Back then, my family did not have the means to send me overseas to study. So I decided to apply for a Life Sciences degree at the National University of Singapore (NUS). At the same time, I took up part-time jobs during school breaks at an animal clinic to build up my CV, so that I could apply for a scholarship overseas. Despite my best efforts, the dream to study overseas was not meant to be. Hence, it had to take a backseat for the time being.

From then, I had to work hard to quickly pay off my uni loans. At that point, I went from hopping on one job to another, trying to find something that pays the bills, yet it is something that I find meaning in doing

Soon after, an FA friend reached out asking if I was open to the career of being a financial advisor. Let’s keep it real - like most of us, we do not dream of becoming an FA while growing up. At the start, I was honestly unsure for the following reasons: the social stigma of an insurance agent, a perceived instability, the lack of prospects to meet and close, and the lack of support for career growth……the list goes on. After being reassured of the adequate support, I took a leap of faith in 2018 to join the industry. Fast forward 3 years, after months of hard work, I must say I am doing better than what I expected. But it was definitely a challenging journey, yet a fulfilling one. Here are a few reasons that made it worthwhile:

- I am able to make a good income to pay off my uni loans, and allow myself to live the desired lifestyle with my loved ones.

- I am able to manage my time according to my priorities. My wife is currently X weeks pregnant, and I am grateful that I will be able to accompany her for gynae consultations, and feed her hunger pangs during the pregnancy. As they say, happy life, happy wife. When our baby is born, this career allows me to manage my time so that I do not miss out on the milestones - the first words he mutters, the day he starts to walk. You get the drift.

- I am rewarded based on my hard work. The harder I work, the greater the income I will potentially earn. Not having an income ceiling allows me to work hard to make good income to achieve my personal goals.

- After all the hard work, I am able to pursue my hobbies and passions. The career allows me to balance between work and play.

You see, even for a uni grad, it was a struggle especially having a degree that is so niche. And back then, not having the affordability to pursue your hopes and dreams can be discouraging. Looking back, I am grateful for this platform to help me achieve my own goals and aspirations.

If you could relate my story to yours, I want you to know that there is a platform out there that allows you to harness your talents and skills to make a good income, and at the same time allow you to pursue your hopes and dreams. However, I also understand that there are many questions you may have about this career. After all, a career is something we do for the long run. It is a decision not to be taken lightly.

Stay tuned for the next episode - Embracing Rejection

ZY

DM me to explore a career in personal finance.

07/02/2022

Hi Clients & Friends! Welcome to my page! Through this platform, I aim to reduce the stigma of financial advisors, as well as the impression of the career itself. This is why I have created an 8-part series titled ‘’What Do We ACTUALLY Do’’, where I share 1 topic each week on what we do every day, the challenges we face, as well as the career progression paths we can embark on. Stay tuned to find out more!

If you are curious about life as an FA, please like my page and share! You may just help someone discover his or her next career :)

ZY

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