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How to become a financial advisor in Singapore

In Singapore, financial advisers are regulated by the Monetary Authority of Singapore (MAS) under the Financial Advisers Act (FAA). If you want to offer financial advisory services, you’ll need to meet the minimum requirements set out by MAS.

Minimum Requirements for being a Financial Advisor in Singapore

  • Singaporean or Singapore Permanent Resident
  • GCE ‘A’ Level certificate with three H2 passes and two H1 passes;
  • Or an International Bacclaureate (IB) diploma;
  • Or a polytechnic diploma; or equivalent academic qualifications.

If you think you meet the requirements listed below, feel free to peruse the job openings on this portal. If you can’t find anything that interests you, or if you want to speak to someone directly to see if we can help connect you with an agency that fulfills your needs, please don’t hesitate to contact us. We would be more than happy to arrange a no-obligation interview with an agency that we think could be the right fit for you. And, in case you were wondering, many of our partner agencies offer complimentary classes and online mock examinations; cover your examination fees, and even provide a stable basic salary to get you started. The Capital Markets and Financial Advisory Services Examination (CMFAS Exam) is a licensing framework introduced by MAS in 2002. Individuals who want to be employed by financial advisory firms and provide advisory services are required to pass the CMFAS modules relevant to the services they wish to provide, including:

Minimum Certification to get started on your new career

  • Module 5 – Rules & Regulations for Financial Advisory
  • Module 9 – Life Insurance and Investment-Linked Policies
  • Module 9a – Life Insurance And Investment-Linked Policies II
  • Health Insurance Module

Once you have met the requirements for becoming a certified financial adviser, you’ll need to notify the Monetary Authority of Singapore (Usually by the agency you’re attached to). Once that’s done, you’ll be able to carry out regulated activities under a financial advisory firm.


As a financial advisor in Singapore, you need to be up-to-date on the latest industry trends and know how to market your services to potential clients. You also need to be aware of the different types of financial planning products available in Singapore, or at least those offered by your company.

What are some of the skillsets of a Financial Advisor

A financial advisor should possess a variety of skills that can help your clients save money and manage their finances. Some of these skillsets include:

  • Being able to provide personalized service
  • Being able to speak with clients about their needs and wants
  • Being able to offer advice on investments and personal finance
  • Be able to provide resources like books, articles, or tools to help you manage your money
  • Being able to provide access to a variety of financial resources, like checking and savings accounts

What services do Financial advisers typically offer

Financial advisers offer a variety of services that can help people save money and achieve their financial goals. Some common services include:

  • Tax planning: This service helps clients calculate their taxes and prepare for tax season.
  • Retirement planning: A financial planner can help you plan your retirement finances, including choosing an investment strategy and investing your money.
  • Estate planning: A financial planner can help you create estate plans that will protect your assets during your lifetime and after you die.
  • Pension planning: A financial planner can help you figure out how to save for your retirement and get the most out of your pension benefits.

You can also refer to the skills framework set out by SkillsFuture Singapore (SSG),  an initiative developed to promote skills mastery and lifelong learning in Singapore. It is an integral component of the Financial Services Industry Transformation Plan. The Skills Framework was jointly developed by SkillsFuture Singapore (SSG), Workforce Singapore (WSG), Monetary Authority of Singapore (MAS), and the Institute of Banking and Finance (IBF), together with industry associations, training providers, organisations, and unions to have a clearer understanding of the industry.

How to start and succeed as a Financial Advisor in Singapore

A financial advisor in Singapore is a professional who helps plan, manage and manage risks of other individuals. Advisors vary in their qualifications and experience, and there are many other professional certifications that financial advisers can choose to pursue, but two of the most popular ones are CFP (Certified Financial Planner) and CHFC (Chartered Financial Consultant). These certifications are highly sought-after because they provide advisers with the technical skills needed to address a wide range of financial planning areas. In addition, these certifications hold practitioners to a high standard of conduct and ethics. The CFP certification is globally recognized and highly regarded by both industry experts and clients.

Image via The Woke Salaryman.

Tips for Successful Financial Advisor Practice in Singapore

An experienced financial advisor is a key part of any retirement planning. Make sure you stay updated with the latest policy changes and be mindful of what is out there to protect your client’s interests and ensure that you provide the best possible experience when working with them.

In addition, keep up with the latest financial news and resources to stay current on changes in the market. This will help you make informed decisions about your recommendations and help you stay organized and updated on financial developments. Keep up with all the latest financial news by visiting online outlets like CNBC or Bloomberg. You can also find information on specific topics, such as interest rates, credit cards, and investment products on websites like Seedly or Dollars & Cents. To get started, it’s important to understand what differentiates a good financial advisor from a bad one. A good starting point is finding an online resource so that you can understand what makes each type of service valuable to you.

Becoming a financial adviser in Singapore is a process that starts with finding the right agency and passing a few exams. If you’re reading this article, you might be interested in this line of work. And that’s good news because we need people like you. People who are excited to make a difference in the lives of others and meet people from all walks of life. If that sounds like you, take the first step and come join us on this journey.

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