A few people have written to ask for my advice on the low cost funds that they can invest in. Here are some options.
1. STI ETF. You can invest in a minimum of 100 units of this fund. At the current price, the investment is about $3,500. You can accumulate your savings and buy the ETF every few months. Alternatively, you can open an online account with a stockbroker which allows you to purchase odd shares of the ETF under a special plan. (Check with Philipps Securities).
2. Unit Trust. There are some low cost unit trust that accept monthly savings. I am looking for a financial adviser who is keen to promote these funds.
3. Ideal plan. You can buy the Ideal plan directly from the business center of NTUC Income and have 100% of the monthly savings to be invested in the combined fund.
Read these FAQs:
http://www.tankinlian.com/faq/fptips.html
http://www.tankinlian.com/faq/choice.html
Send them to the business centre to buy the Ideal and other products at a discount than buying from the salesmen without discount and may even get loaded with high commission products.
ReplyDeleteMr. Tan, i wonder if you have any plan to set up a company where people can buy products at steep discount on producing a 'financial prescription".
This prescription will bear the name of company or the adviser to authenticate its origin and to verify also the bearer has undergone a financial health check and the products recommended are the result of it. In this way the unethical insurance salesmen can be weeded out. This will create a safe environment for customers.
Like the medical professions customers can go to seek advice or consultation without worrying of getting a salesman but practitioner with the right qualification and ethics.The practitioner or the adviser is regulated and license to operate will be renewable on the yearly basis.