The Fry Group Feature

FINDING A GOOD FINANCIAL ADVISER

By Huw Wedlock

Seeking out a good financial adviser might feel like something of a challenge. There are lots of options to consider, especially if you face added complexities such as living overseas. The last few years have seen increased regulation of financial advisers across the Globe, for example in the UK with the Retail Distribution Review in 2013. This eliminated commission across the UK advice sector and meant that advisers had to embrace stringent qualifications. The result was a significant drop in the number of advisers in the UK. But how do you find the right firm for you? As a first port of call you might start by asking friends, family or colleagues, or using a directory, your chosen news source or another third party. Yet these routes might be loaded with bias or personal experiences and ultimately leave you more confused. Independent or restricted? It can be useful to start with determining whether the adviser is truly independent or restricted. Advisers who are independent can offer you a range of financial products and services from across the market. Those who are restricted are limited in terms of what they can provide to their clients, usually to their own product and/or fund range. A question of fees Advisers must provide you with clear information about what they will charge advice@thefrygroup.sg www.thefrygroup.sg Tel: +65 6225 0825 you. A typical approach, and the most common, is a percentage charge based on your investment portfolio, but other options include an hourly rate. Some firms are more expensive than others, so it’s important to consider what you feel is fair and reasonable for the service you are being offered. Impartial endorsement Do consider the accreditations of the firm, and whether there is a programme for regular, ongoing training for advisers. One of the most useful checks is whether the firm itself is recognised by the CII as a Chartered Financial Planner. This is a widely accepted ‘gold standard’ qualification for financial advisers in the UK. Ultimately it can be helpful to consider how firms rank against their peers. And it’s not just a case of who is the largest – being big certainly doesn’t equate to good client relationships and quality of advice. One of the most useful tools available is the FT Adviser Top 100, one of the most sophisticated and reputable lists which can be used when choosing a financial adviser. FT Adviser ranks financial advisers based on a range of criteria, reviewing which firms attract the most business, the number of advisers employed and their professional qualifications, the age of the business, the ability to retain clients along with an estimated performance based on asset growth. The FT also asked end clients what qualities they felt were most important with regard to the Financial Advisers they worked with, and the 3 most important things listed were; transparency, trust and a thirdly, a tailored advice process. These three qualities are exactly what we at The Fry Group aim to deliver, in Singapore and all around the world. The Fry Group was ranked 4th in the 2019 FT Adviser Top 100 list and was also named Best Overall Adviser in the International Adviser Best Practice Awards 2019. Contact us to speak to one of our Financial Planners about your personal circumstances and to see how we can help you.

Thu, 6 Feb MEMBERS CONNECT NIGHT

In partnership with CLUB NEWS

Theresa & Paul Chapman Andrew & Martina Date Gho Sze Kee & Su Jang Wen Michael & Catherine Hayes Stephen & Sheri Hogan Benedict Lim & Veronica Tan Ellis Mattey & Melanie Evennett Alexander & Nicola Nicolaus Lezlie Neo & Foong Kok Wai Jessica Omoteso & Atarhe Mujakperuo Christian Patouraux & Weelim Bay Paul & Di Shepherd Michael & Therese Spiers Edith & Luis Victoria Peter & Emma Vorley Carson Wallace & Natalie Tan Michael Watters & Azliana Bte Abdullah Samantha & Damian Willoughby Yap Foon Lyn

JANUARY 2020 BLACK CARD LUCKY DRAW WINNER – IRENE LIM

UPCOMING MEMBERS CONNECT NIGHT Thu, 5 Mar You are invited to join us for our monthly “Members Connect Night” hosted at the beautiful rooftop setting of the Treetops Terrace. This is a fantastic opportunity for all new Members to find out more about what the Club offers in terms of sports, activities and events. Set in a casual setting, there will be light bites and drinks for everyone to enjoy while getting to know each other as well as the Main Committee, Management team and existing Members. 7:30pm to 9pm (Complimentary cocktail food and free flow of wine, beer and soft drinks) Please RSVP to recept@britishclub.org.sg

The British Club has long considered The Club’s employees as one of its biggest assets. Stand to win $50 F&B credit every month when you share your dining experience with us.

Winning Letter

The breakfast offering and quality has positively increased beyond all expectations. Chef sunny and his team should be heartily congratulated on the complete transformation of the Club’s breakfast. Well done! It’s fresh, tasty and comparable to anything available outside. Thank you! – Bettina S. (Verandah Café)

LOVE the new breakfast menu at the Verandah Café, thank you Chef Sunny for the improvements you have made. My favourite is still the avocado on your fabulous sourdough, followed by the bagels. I will now recommend the breakfast to all my friends – 100% improvement on the ‘Sliced brown bread & poached eggs’ we used to order. Thank you chef Sunny on behalf of the morning Masters Swimmers. – Rebecca T. (Verandah Café)

New breakfast menu is great especially the bagel and avocado toast. – Jane C. (Verandah Café)

Jiren served us with great politeness and friendliness. We have always been served by him, he is a lovely staff. – Pesi B. (Mountbatten Bar & Grill)

Fantastic service and great food. Many thanks. – Daniel D (Mountbatten Bar & Grill)

Pasta Puttanesca was excellent. Thank you! – Benjamin B. (Scores)