Do You Trust Banks and Insurers?

There was a Straits Times article over the weekend which reported that the reputations of local banks and insurers are recovering, after suffering a dent in image during the financial crisis. This was the result of a poll surveying 341 people.

Personally, I’m not so sure what kind of image they are talking about.

“Horror” stories of errant relationship managers or unethical insurance agents are not uncommon, but such incidents do not usually have a wide reach. Even fiascoes that do, like the mini-bond saga, will eventually be forgotten over time.

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Types of Financial Advisers

People not familiar to the local financial advisory scene may not know about the different types of practitioners available. This is forgivable since such details are not presented well to the public. The thing that I find laughable is that many people in the industry themselves are confused over the types of financial advisers available.

Hence I hope to clear the air regarding the types of financial advisers that one may engage for his or her financial needs.

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