Friday, September 11, 2009

Financial Advisers can volunteer for FISCA

FISCA welcomes financial advisers, who share the aims of the association, to join us as volunteers and help in the evaluation, research and other work.

We will also provide opportunities for these financial advisers to offer their service for a fair remuneration, that is based on the actual time spent and not a commission that is tied to the recommended product.

Some FISCA members, who had bad experience with financial advisers or relationship managers, may be suspicious of these advisers, but the suspicion can be dispelled by honesty and sincerity.

If you wish to volunteer, send an email to

Tan Kin Lian


Anonymous said...

Mr. Tan,

Will financial advisers who volunteers be given the leeway to provide their independent opinion to help others? Objectively will be compromised if these advisers must provide opinions that is consistent with certain set of physiology. Take for example, likely those who join FISCA are going to hate structured notes. But if these advisers must say ALL structured notes are bad, this blanket stereotype would compromise objectively and integrity of these advisers.

Or take another example. I know you tend to recommend Term insurance only. However, to be objective and impartial, a financial adviser cannot make sure blanket recommendations. So do financial advisers need to agree and endorse all your personal views and FISCA's personal views when they help others?

Anonymous said...

Hi Mr. Tan,

As you know that financial advice is a regulated activity. Does FISCA has a license to do that? For financial advisers who volunteer, are they doing so under FISCA's name or their own company's name?

Tan Kin Lian said...

FISCA volunteers will give assistance to members. They do not give financial advice. The assistance takes the following forms:
a) Explain the materials that are posted in FISCA website.
b) Help members to prepare and lodge complaints with FIDREC, or the financial institution on failing of financial adviser to give the appropriate advice.
c) Carry out research for approval by FISCA committee.
There will be scope for financial advisers (with the licence) to give indepenedent advice, but they have to conform with a code of ethics (not ready yet).
We want people who are genuinely interested to help meet the aims of FISCA, and will not be interested in volunteers who have other motives.

Anonymous said...

I am from the social enterprise company I wonder i can join.

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