sgp ppl r uninformed, uneducated about alot of matters:
finances, insurances, employment, entreprenuership, governance,
politics, world hunger, peace to the world etc etc....
i tink its a crazy step 2 try 'educate' the public abt financial
planning. tis topic comes hot on the heels of the recent
announcement abt the govt wanting 2 play a role of educating our
ppl abt insurance, investment, retirement & finances. n the
govt tot the best way 2 educate our ppl? thru talks at cc,
libraries etc etc... if those aunties, grannies & uncles are
educated & bothered to visit such locales to learn more, they
won't b cheated in the first place.
there is moral wrong to cheat ppl, deceive or coverup facts, grey
areas. the so-called financial planning service consultants &
managers should not hav to be forced into their current role of
salesmen, saleswomen as they do today. in the states n other
developed nations, these financial planners are highly qualified
ppl paid for consultation services with their clients irrespective
of any pdts purchased. tis drives planners to be professional n not
mercenary focused at all times.
here, all the financial planners rep some financial instituition n
the oni way they will be remunerated is when they sell their
clients the financial pdts whether or not the clients prefers tat
specific investment co. or if the planner is unethical...whether or
not the client has tat investment tolerance....
who lose?.. the laymen. i really dislike such scenarios. destroys
the image of the industry on the whole, n ethical ppl like me lose
out all the time.....
wat should be done?
i feel: change the system. follow the other nations. don't hav such
sensitive financial systems/ decisions influenced by salesmen
pockets.
instead, sales men shld be recognized by instituition for sales by
way of incentives/ bonuses, not pure comm. the exact workins? i no
ceo, some1 care to contribute?
