Ethos Wealth Planners

Dear Potential advisers,

The Ethos Wealth Planners is a group within Promiseland Independent Pte Ltd. Ethos Wealth Planners is headed by myself. You are reading this letter probably because you are keen to join the financial advisory industry.

Almost all firms consider  the financial adviser as a sales person. It does not matter whether you are from the insurance companies, banks, security houses or one of those “independent” financial advisory firms. On the other hand, many clients assume that the financial adviser is a professional. The difference in expectation is detriment to the interest of the clients and it is of no surprised that many clients’ interest are harmed.

We are looking for Senior Advisers / Advisers. Their responsibilities are:

Ethos Wealth Planners recognise that many existing financial advisers would like to provide more value to their clients and not merely doing sales. Such high value of services provided often do not commensurate with any remuneration because there is no associated products to sell. The lack of mentorship in the existing firm or agency and the prohibition to charge clients fees are obstacles commonly faced by experienced financial advisers.

The Private Wealth Planner Trainee is a position meant for experienced financial adviser representatives who wish to transit to a fee-based professional financial planner. The Trainee who joins the firm will be joining as Senior Adviser initially. We will mentor and train the trainee over a period of 12 months. The responsibilities of the Trainee are:

1. To find 1 client/family per month for comprehensive financial planning. It is permissible that the client or family be from existing clients;
2. To develop a comprehensive financial plan for such clients based on the mentorship of Wilfred Ling;
3. The Trainee shall submit an original 10,000 words thesis on a topic related to financial planning at the end of the 12 months period. The topic should preferable be related to the 12 cases;
4. The Trainee shall become a full fledge fee-based professional financial planner only upon approval from the company after the 12 months period depending on the aptitude of the Trainee. 

Compensation scheme:

1. Self-employed;
2. During the first 12 months period, commissions from own sales;
3. After 12 months and upon approval from company, fees paid by clients from financial planning in addition to usual commissions earned from product sales.

Mandatory requirements are:

1. All requirements for “Advisers” apply;
2. Minimum 3 years of relevant working experience;
3. Currently a Certified Financial Planner (CFP) or Chartered Financial Consultant (ChFC). Those who are about to take Module 6 and Module 8 of the CFP and ChFC respectively will still be considered;
4. History of earning a taxable annual income of $60,000 based on commissions;
5. History of 7 out of 10 prospects were done using ‘Type 1 – Full Disclosure’.

Preference will be given to candidate who possess one of the following experience:

1. Has done business succession planning and actually transacted insurance policies for that purpose;
2. Asset protection using irrevocable inter vivo trusts;
3. Highly familiar with CPF rules
4. Has actually used Economics theories (not mere following analysts reports) for tactical asset allocation for clients’ portfolios.

(Update 14/1/11: This position is now closed until further notice. Do not apply for this position.)

Private Wealth Planners are highly skilled, experience and analytical. In terms of financial planning skill set, they belong to the top 0.1% of their peers. We are looking for Private Wealth Planners to do the following: