An Incredible Journey

I was having coffee with a junior adviser, and she asked me how I knew this career was right for me. And that really got me thinking.

Having joined as a fresh graduate (and I've been here 10 years), I have never thought of leaving my branch, nor industry, more on that in future writings.

10 years ago if anyone asked where I would first leap into the corporate world, I would have never imagined I would be stepping into the diverse, rewarding world of Financial Advisory. Nothing from my education (I read Chemical Engineering in NTU) to my familial background (Dad was, is, will be, a corporate man) pointed in this direction.

In a twist of events, a friend shared about the Financial Advisory industry, and how it was possible to advise across different insurers... I was hooked!

I had the good fortune of interviewing at Infinity Wealth Management under my then (and current) Mentor Mr Andy Peh. And our very stern looking (he's better now!) Mentor Major, Mr Poh Choon Kia. (More on Mentorship in my later writings!)

Looking back now, it is obvious that my current successes would not have been possible without my Mentor and Mentor-M guiding my steps.

And with the opening and shutting of eyes, it's been 10years!

PART 1: The Beginning (Adviser)

In my first interview with Andy, I told him my career plan: in 5 years I will be a manager, and from there I will reassess my career plans (I promoted in 4 years). But standing at the beginning of the path, I had no clue whatsoever how I was going to get there!

As a young adviser 2010, I started in a "challenging climate". CPF Investment account changes were locked in (minimum balances before investments can be made), changes were in the air with regards to the DNC, and practitioners were worried. Leads were tough to get, and compounding the issue, my warm market consisted of Engineers (brilliant, analytical, skeptical people).

What's more, I was an extremely challenging adviser to coach: always asking why, and why not… always digging into the details and fine-print. But my Mentor Andy stuck by me and my eccentricities, and with the company's version of BMT (Basic Military Training) which we call the AFC (Achiever's Foundation Club), I picked up all the necessary habits, skills and knowledge required in the industry.

The biggest challenges I faced as an adviser: 1. Leads and 2. a Systematic approach to the practice.

Our branch was focused on a referral system, and starting out I could not get the referrals to work! Then it dawned on me: the methods were fine: it was I that needed to change. After some adaptations to my strategies, referrals came in and business picked up. (I loosened my tie and smiled more: apparently my face looked too professional and I had to lighten up!)

Once referrals were sorted, and my client base was growing steadily, handling the business flow in a sustainable and consistent manner became crucial: and here's where joining the right branch continued to add value: we had strong in-house Systems and Support Structures that aided us in client acquisition and retention, giving us advisers a much needed edge in delivering alpha to our customers. For example, Motor Insurance and Mortgage loan comparisons were done in-house (this was in 2010, long before the Fintech boom sped up this process), and Will and Estate advisory was part of our offerings.

My business was improving, and I doubled my income in 2011, 2012, 2013, thoroughly enjoying my advisory work in the process. 2014 was to be a big year, marriage to my long time girlfriend, with a property on the horizon (all the payments, renovations, headaches) and that's when Andy dropped a bomb on me: "You are ready for a promotion. Go."

I DID NOT FEEL READY. Too many worries on my plate, too carefree a life, too many upcoming concerns. I brought this up with Andy, and to this day I remember his reply: "Don't worry, you can do it. And if you can't manage, I will support you through it."

And I was chucked headlong into PART 2 of my career.

PART 2: The Middle (also Middle Management)

This is the part where things got interesting: recruitment, training, taking on portfolios for the branch, managing my Advisers and the problems they face.

Here I began to see the bigger picture of being "Management". Being a Manager means being accountable to my team. Our responsibility is to keep their business on track, keep interruptions out of their way, and being there to support their progression as advisers and as human beings. Managers are many things: Group sessions trainers, individual coaches, administrative staff, listening ears, stern encourage-rs… all in a day's work. Oh, and there's personal sales to worry about too.

As you can imagine, it can be overwhelming. As a new manager, I had little time to pick up all the crucial skill-sets needed to provide for my team. Juggling the must-dos, the should-dos, and can-dos would have taken up all of my time. But it didn’t. Joining the right branch at the start had paved the way for me to take up my management post with ease. Because of all the in-house systems and trainings that were built for advisers, as a manager I had a much easier time!

Allowing my new advisers to go through the AFC programme allowed them to pick up skills, and develop friends in a lonely industry. Once they graduated the programme, they were moved to more advanced groups for progressive training.

Precisely because my path was smooth, I had trouble understanding the major headache for most managers in my industry: Recruitment and Retention. It is not easy to find the right candidates for the job, and keeping the top performing advisers is a no easy feat. My Mentors’ shared this side of the industry with me, and it was then I started to appreciate what we had built in my branch… a cohesive, communal spirit of support and growth. It was then I started developing training and coaching materials for my team, and other teams as well.

After 2 years of being a manager, I finally decided on my next career goal: Director by my 10th to 15th year. Being the ever direct person, I scheduled a discussion with my Mentor Major, big boss Mr Poh Choon Kia, to discuss this (For anyone that knows him personally, you know what fears I had to face to schedule this). And to my surprise, he shared he was about to approach me on this topic too. After a vision clearing chat, I set out on the plan.

Everything proceeded as normal, until my 9th year-end, when I received a text from my big boss: “You can promote now, will you take it on?”

Err.... Yes?

PART 3: The End and a New Beginning (Financial Services Director)

My promotion was effective in 2020, and this marks a new stage in my career! But what I realised is this: By focusing on my systems, and doing what needs to be done, I can get where I want to go!

I can now spend more time coaching people to greater successes, since I have achieved my personal goals.

My intention will be sharing my expertise with not only my team, but also those that are hungry to hear and learn. Why? Because by sharing experiences, I can grow myself, and also help those around me! PM me if you have problems that you want to talk about, and we can have a chat.

More good stuff to come!