My 1st Year as an FA Rep

1st July 09 marks my official first year as an FA representative. It was exactly 1 year ago that I took this difficult decision to step out and start fresh in a new place. I was hoping for a job with NTUC Income then but only to be rejected twice by them to understand that I do not have a position in the company. I felt lousy, thinking that I'm no good and thats why I was rejected.

However, a rejection opens up new opportunity for me. I spoke to a few people and they encouraged me to move on to an FA firm. They gave me the confidence that I can make a viable career in this industry. I was very doubtful about myself and my capabilities at that time. I feared that it will be the end of my financial advisory career if I'm not able to survive the new environment. I'll feel that I failed all my clients whom I served over the years.

Over this year, I worked nearly 7 days a week and many days taking the last train at 12:11am or last bus at 12:17am from Bugis. It was stressful financially in the beginning where I do not know when I'll spend my last dollar in my POSB account. I couldn't share when I'm sad and depressed even to my wife, good friends, family, colleagues or even in my blog, fearing that what I shared will adversely affects them. All thanks to God that I manage to stay positive and breakeven in my 1st year. He is probably the only one who listens to me.

In term of knowledge, I had gained tremendously. I'm certainly not the smartest or most knowledgeable adviser but I do believe that I'm a head above most tied agents and probably above average among the FA industry. I'm certainly not in the top 10%, but probably the top 40th Pecentile. I did a lot of financial plans over this 1 year and I keep learning from every fact-find with my clients even till today. I get to understand the needs and concerns of different people. In NTUC Income, I'd never completed one full fact-finding. I always give excuses that client do not have time or do not want to do it.

In term of recogition, I am excited to be invited by one of the insurer recently to be part of their focus group to brain-storm and give feedback for new products. I get to know many industry veterans and to hear from them first hand on their experience in the FA industry.

I'l continue to work hard into my 2nd year but I really need to work smarter because I want to spend more time with my family and to give my wife confidence that I can support a family. I need to get into the right market where people appreciates my work. I was spending far too much time on those who asked hundreds of questions, make tons of comparisons and eventually buy from fundsupermart or from Group Insurance schemes.

I want to take this chance to thank all my clients and those who had encouraged me to move on. Without you, I will not have survived my 1st year. Half of 2009 had passed. I hope all of us will make use of the next half a year to achieve whatever resolutions that you had set in the beginning. May God bless all of you...