Hi Mr Tan,
I am running a small business. I have heard from friends that I should buy unit trust but do not know how to do it and which company to look for. I also heard that foreign currency deposit is butter than insurance as I do not need to commit so long.
A couple of years ago, I had placed some hard earned savings with Sunshine Empire and was very disappointed that I could not get back anything. I was actually angry why the firm could run in Singapore and had so many investors, but I have lost hope in getting back my money.
Can you advise me as to which company can advise me on unit trust and has lower distribution cost? Is placing my savings with Income a wise move? Which investment firm would accept investment under my corporate sole proprietorship account? Is it secure or should I only be satisfied with returns from fixed deposit under corporate account?
REPLY
Please attend the talk on financial planning organised by FISCA (http://www.fisca.sg/). You will be given a copy of the book, Practucal Guide on Financial Planning. It will answer most of your questions. You can also buy the book here, http://www.easysearch.sg/
NTUC may have good Unit Trust(ILPs)
ReplyDeletebut it doesn't have good advisers. It has only salesmen. Salesmen don't give good advice. They peddle and sell funds for commission. This is not good. This is NOT investment. This is tikam tikam based on luck. The agents will switch here and there hoping to punt on one lucky fund but...the end is loss. Please don't make mistakes like many of them. Many of them still suffer from coma and don't know waht hit them.
Please look for FA firms but again be careful ...not careful it will be like jumping from ntuc frying pan to the fire. Look for one with right qualification and right methodology. Ask the 'investment adviser' how he or she will select the funds and manage your portfolio.
This is very tricky one. Very difficult to get a right investment adviser.. Sway sway you get a salesman who will churn and switch until you are broke.
Did you say you want someone to manage your company's fund. I suggest you appraoch the company called PROVIDENT FINANCIAL. It is a fee only company and it is a Independent Financial Adviser(IFA) . They charge a yearly fee(negotiable)and any commission received by them from the distributors of funds will be returned to you. This is the best I can think of where you can get fair dealing.
Forget all those insurance companies.. You never get anything except pay and pay commission to their salesmen who are disguised as some financial experts. Don't be fooled by the title. They are conmen and women.