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Why Malaysians Can Thrive as Financial Advisors in Singapore

Looking back at my ten years in Singapore, I realize I could’ve handled my money better. If I had gotten some proper financial advice earlier, I might have made smarter choices with my money. But hey, I’m still learning and trying to get better with my finances.

If I could talk to my younger self, here’s what I’d say:

Firstly, it’s important to think about why you’re in Singapore. Whether it’s for work or just to try something new, think about how the strong currency here can affect your money plans. Figure out how long you’re planning to stay and what you want to do with your money while you’re here.

Also, try to find ways to make more money if you can. Doing extra work or using your skills for side jobs can help you reach your money goals faster. For example, I started giving financial advice alongside my main job, especially now that the ringgit’s value has dropped.

Don’t forget to get your own insurance, even if your job gives you some coverage. Being in a new place means you gotta be ready for any unexpected medical emergencies. Having your own insurance makes sure you’re prepared for anything.

If you end up staying in Singapore longer than you thought, think about becoming a Permanent Resident (PR). It might affect your money situation at first, but it could open up more opportunities for you in the long run.

Be careful if you’re thinking about buying property in Malaysia. It might seem like a good idea, but there are risks involved. Make sure you do your homework and understand all the risks before you decide.

Investing in stocks in Singapore can be a good way to make your money grow over time. Just be smart about which stocks you choose and keep an eye on what’s happening in the market.

Lastly, do what makes you happy. If going back to Malaysia is what you really want, go for it. Just make sure your money situation is sorted out first.

In the end, it’s never too late to learn about managing your money. With the right help, Malaysian PRs in Singapore can do well with their finances.

Why You Can Thrive as a Financial Advisor in Singapore

Being a Malaysian and Singapore PR, I share similar cultural backgrounds and languages with most Singaporeans. This makes it easier for me to connect with clients, build trust, and communicate effectively.

Additionally, I have insights into Malaysian insurance policies, which can be helpful when assisting clients with cross-border insurance needs or investments in Malaysia.

Moreover, there’s a sizable Malaysian community in Singapore, and I can leverage my connections within this community to offer tailored insurance solutions to fellow Malaysians.

Furthermore, my diverse skills and experiences from my professional background, including sales, communication, and customer service, can be highly valuable in the insurance industry.

Choosing to be an insurance agent also offers flexibility in terms of working hours and entrepreneurial opportunities, which is appealing to me as someone who values autonomy in my work.

Moreover, becoming an insurance agent provides a pathway to financial stability and growth. It offers a steady income and opportunities for career advancement and financial rewards through commissions and incentives.

Finally, by offering insurance products and financial advice, I can contribute to improving financial literacy within my community. I can help individuals make informed decisions about their financial future, empowering them to achieve their goals.

Requirements for a Singapore PR to be a Financial Advisor (Full-Time/Part-Time) in Singapore

To become a financial advisor in Singapore, certain minimum requirements must be met. Firstly, candidates must hold Singapore Permanent Resident status, ensuring a stable residency in the country. Additionally, a bachelor’s degree or an equivalent academic qualification, such as an International Baccalaureate Diploma, is necessary. These educational prerequisites ensure a foundational understanding of various subjects relevant to financial advisory.

Aspiring financial advisors in Singapore must meet specific examination requirements to qualify for the role. This entails passing the Financial Advisor Examination, which comprises various modules crucial for the profession. Module 5 focuses on Rules & Regulations for Financial Advisory, ensuring adherence to legal and regulatory standards. Module 9 delves into Life Insurance and Investment-Linked Policies, offering essential insights into these financial products. Building on this, Module 9a provides a deeper understanding of Life Insurance And Investment-Linked Policies. Moreover, proficiency in Health Insurance is evaluated through a dedicated module, equipping advisors to address clients’ health-related financial needs.

For support in navigating these examinations, including sponsorships and study guides, feel free to reach out to us.

Key Considerations for Part-Time Financial Advisors in Singapore as a PR

Part-time candidates should seek approval from their current employers before pursuing financial advisory roles. Many employers have policies regarding moonlighting or holding secondary jobs, so obtaining approval is essential to ensure compliance. It’s crucial to maintain transparency and respect existing employment agreements while exploring opportunities in the financial advisory sector.

Additionally, part-time candidates should be aware that they might miss out on certain benefits exclusive to new full-time financial advisors in Singapore. These benefits may include incentives or support programs designed specifically for new agents entering the field on a full-time basis. However, part-time candidates can still pursue their career goals effectively by leveraging their existing skills and resources while balancing their professional commitments.

By meeting these minimum requirements, individuals can embark on a career as a financial advisor in Singapore, equipped with the necessary knowledge and qualifications to provide valuable guidance to clients in their financial endeavors

If you’re a Malaysian PR in Singapore interested in becoming a part-time or full-time financial advisor, feel free to get in touch with us. We can provide you with information on what it takes to become one and help you determine if it’s the right fit for you.


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