You are viewing blog posts published on Thursday, 23rd August 2012. Return Home ★
Oversupply of Financial Practitioners And Its Effects
Singapore has a population of about 5 million while the number of practitioners in the financial advisory industry can be estimated to be about 20,000 to 30,000. This includes tied insurance agents, Financial Adviser firm representatives and banks’ financial services personnel. It is a considerably large number for our population size. How so?
Let’s look at how we compare to other countries:
| Country | Population | No. of Advisers1 | Ratio |
|---|---|---|---|
| United States | 311,000,000 | 310,000 | 1,003:1 |
| Australia | 22,000,000 | 18,000 | 1,222:1 |
| United Kingdom | 62,000,000 | 20,000 | 3,100:1 |
| New Zealand | 4,430,400 | 1,963 | 2,257:1 |
| Singapore | 5,183,700 | 20,000 | 259:1 |
4 comments
9:28 am
