Sunday, January 25, 2009

The Festive Season

I was chatting with my colleague recently until a question popped out. "What is the difference between a Bull and an Ox?". There was so much of guessing game until we decided to check out the Internet for an answer. We concluded that Bull is an uncastrated adult male of a cattle and an Ox is a casatrated bull which are normally meant for domestic purpose such as farming. The chinese use Ox for farming and not Bull and hence they named it the year of Ox and not the year of Bull. Well. This is for your Information about why Ox was named and not Bull...

As a child, I like Chinese New Year because I get to receive lots of Ang Baos and have fun playing cards with my cousins. After Marriage, I kinda feel tired when it comes to Chinese New Year. I got to spend two full days doing spring cleaning of the whole house, I got to squeeze through the Causeway back to Malaysia, I got to spend a sum of money to give out Ang Baos and I have problem meeting with any clients during this period when they are busy with their CNY celebrations.

This year shall be a challenging year for me. I have to redefine my work, prioritize my time and be more selective with my clients. I had spent too much time doing administrative work like claims, premium collection, on policies like Travel and Home Insurances and on people who will ask thousands of complicating questions but never do anything. I really felt very sorry for leaving my beloved wife at home alone most of the nights. Our relationship will be strained, no matter how close we are, if this going to carry on.

Thats why on her Birthday on 19th Jan, I treated her to a sumptous Japanese Buffet at Himawari (Telok Blangah). We went to many Japanese Buffets and this is one which I strongly recommend. Very value for money and the quality is good. On 18th Jan, I invited her parents to our place to celebrate her Birthday and to BBQ in Pasir Ris and on the 20th Jan, I gave her a surprise by sending a banquet of Tulips to her office. So she actually celebrated her birthday for 3 days...

Thank you, my dear, for supporting me in this industry. Thank you for ironing all my long sleeve shirt. By wearing them, I look smart and tidy in front of my clients. I promise you to work hard and smart this year. Thanks for always believing in me...

Oops. I just forgotten that its Chinese New Year today... Wish all of you a very Happy Ox Year and may all your wishes come true...


Anonymous said...

Wow, you very can man! Earning 800 dollars a month still can eat at this fanciful Jap restaurant. You still believe the more good years and golden period "bull" story huh?
Must say your wife is quite sweet. I wonder where those million dollar ministars will bring their wives on their birthdays.
Tulips very nice also. You very good husband man. Very good but better come out with some good financial planning soon. The economy is going downhill and the financial industry has taken a big hit on its reputation and integrity. It is going to be tough even for those high performers. I worry for you because you are a good man.

Khiat Han Hwee Adrian said...

Actually Himawari is not that fanciful lah. Not the fine dining type of food. The buffet cost around $35/pax on weekdays. We spent a good few hours there chatting our way as if its our first date. Bring your gf or wife there if both of you like Jap food. There is another branch at Neil Road.

As for spending for my wife, its all worth it. She is my triple A* client who will determine if I make or break in this industry. If I have more money, I would have treated her to something better. When she is happy, I'm happy too and can work better...

Anonymous said...

Maybe you should consider setting aside 1 hour a day to think about and work on another revenue stream.

It's not to say you are uncommitted to the insurance..

it just means your primary revenue stream is insurance , but your secondary revenue stream is XXX.

That way, if things don't work out, you can gradually phase in the secondary and phase out the primary.

Be honest with yourself. It does not mean that if you work hard and preserver, you will succeed. The world does not work that way.

Anonymous said...


Besides being competent in your area of work, you need further few things to ensure you can have reasonable income. The few things are:

1) Ability to market yourself well to your target market segment
2) Able to package your financial planning service well and
3) Demostrate to non-clients and prospects your core competencies.

Many professionals like lawyers, professional engineers, doctors all have to go through exactly the same steps as the above to eventually succeed. Once your client base is large, your referral stream will be more than enough and thus you may spent less than on marketing yourself.

BTW, it is no point having a large client base of "poor" quality clients. They have to be "real" clients. I am sure you know what I mean.

- From a fellow practitioner and a friend

Khiat Han Hwee Adrian said...

Hi Anonymous 11:54,

Thanks for your advice. What you said hit me direct. I'm not doing things right and yet still confused on how to get it right.

Some people say I'm too emotional because I'm not willing to let go any clients regardless how demanding they are. Some says I'm too stubborn because I'm selling things I earn little like RSP and term insurance. Some says I'm not doing enough because I did not find ways to get into the higher income segment.

I must find the "know hows" as soon as possible...

Anonymous said...

Dear Adrian,

I am also selling term and RSP unit trust, shield plans with only minority in whole life policies and my income is much much more than yours. My client base is likely smaller than yours.

While I have a handful of high networth clients, the bulk of my income actually comes from those earning $2000 to $4000 income.

It is not about the term or RSP or the products. It is also not about how many clients you have. It is also not about having high networth clients.

Think about it.

- From a fellow practitioner and a friend

Anonymous said...

I saw the PIAS league ladder. $13.5k in whole of 2008.
If you are in the 60% band, you only earn $8.1k in 2008 or $675 per month!!!!!!

You sure you okay??? This Jap dinner and Tulip probably cost you half your monthly salary. If you want to continue selling your term insurance and RSP, then you got to find out who that 30Jan Anonymous guy is who strike it right.

If you are responsible towards your family, you must shape up or ship out!!!

Khiat Han Hwee Adrian said...

Thanks for all your concerns. Never know someone is actually tracking my sales.

I'm in my first year and its expected to be tough. I'll be experimenting new ways of doing things and I believe things will only get better, not worse.

Anonymous said...


You are not a new adviser as you were with Income for a few years already. Although 2008 sales at PIAS is not your full year for you since you didn't join them at the beginning of the year, it really shows that your referral sales is not happening. Hope you will do well this year.

BTW, don't just concentrate on your work, you need to open your eyes on what's happening within PIAS. The entire industry is watching. I am sure you know what I mean.

Anonymous said...


Have you considered doing corporate insurance like GEB and commercial GI? You'll be surprised that this market is relatively untapped. Many companies are sitll relying on liasing direct with the insurer & they do not know they can get a broker to help to source for a better deal. Cold calling for corporate business is also much easlier and the chances of getting an appointment is greater. As a bonus, your activity is always restricted to office hours. No more night meetings and no more burning weekends!

Many FA firms are not doing corporate business seriously because it requires the backing of full time staff. You join the wrong firm as PIAS does not have full time department dealing with corporate business.