Tuesday, November 3, 2009

Financial Plan for Charity Program

I had did about 6-8 financial plans per month of which I had never collected a single cent for the hours of analysis, comparison and thinking which adds up to nearly 10 hours for each plan. I had tried asking if they will be willing to pay for what I did and most will reluctently say "Maybe".

It might be that my work is indeed not good or I'm simply not good enough to project what I did for them is worth paying for.

I decided that my time should not comes to nothing. Even if the person don't pay me, I must let the recipient of my financial plan part with some money for the time I spent. I had tried the "Financial Plan for Charity" program for a month and I think its quite successful. I'd managed to convince 4 people to donate last month. I am happier and more motivated to do my planning now.

In my first meeting, I'll let my client know about my initiative for the less fortunate. I inform them that they can select any of the 3 charitable organisation to make a donation after I presented my financial plan. I will emphasize that any donations will be voluntary.

Donation can be as small as $10 via cheque or Credit Card. There will a self-enclosed envelope so that I'll not be kept in the loop and Credit cards details will not be revealed to me.

The 3 charitable organisations I'm helping now are:
Children Cancer Foundation - http://www.ccf.org.sg/
Home Nursing Foundation - http://www.hnf.org.sg/
Society for the Physically Disabled - http://www.spd.org.sg/

Its a win-win-win case. I win because my time are not totally wasted. The charity win because they gain a bit of funds from the public and my client wins because they will get 2x tax rebate for the donations made and hence a reduction in tax payable.


Anonymous said...

Wow what can I say?

You are a good man.

Keep it up!

Anonymous said...


Do take care of yourself because before long, you could be the charity that requires donation. Why bother to entertain such lousy clients? By the way, how do you acquire such leads? In sales terminology, your lead generation is generating lousy leads.

Anonymous said...

Adrain, do it for charity but don't do it for those idiots who are exploiting you. These people who can't appreciate good stuff. They are like swines who can't appreciate pearls. Swines can't, right?
Follow the IPP model. Charge a fee at the outset, depending on the scope of the service and sign a letter of engagement.This fee will be returned or rebated if the client agrees to your implementation.
In this way the client cannot take advantage of your free advice.Be professional. Don't short change yourself. Don't prostitute your service..

Anonymous said...

This is a worthy cause. I applaud you for that. Gambatte :)

Anonymous said...

Your clients' shouldn't take advantage of you. For a financial plan of 8 clients, it is quite a lot of effort. If you can earn $500 from each case (through fees or products), you will be quite well off.

Not difficult to earn commission of $500 each time. DI + term + shield + some unit trusts and you can earn that already.

Anonymous said...

Your clients should pay you for the work actually done for them. How could they expect you to work for free? Have you considered bringing these clients to Small Claims Tribunal to get them to pay you? You shouldn't let these clients take advantage of you. Everybody deserve a decent wage for the work performed. You deserved to earn a decent living just as everybody is entitled to a decent wage.

A Financial Planner

Anonymous said...

You would have written good articles if not for your grammatical confusion.May I suggest that you take up a basic English course that deals with grammars and sentence construction. I am sure after that you will write good articles.

Khiat Han Hwee Adrian said...

Hi Anonymous 5:19,

You are absolutely right. I indeed have a lot of problem with my language. I wasted a lot of time deciding on thinking how to use the right grammar while writing.

Do you have any suggestion where I can relearn English without spending a bomb?

Anonymous said...


If your prospect is looking for you to help them in their finances, they will look beyond your English. If your prospect is upset for your poor English, it means that they are a LOUSY prospect and you should not waste your time further.

Many doctors' handwriting are worse than a K1 kid. But their patients only want to be cured regardless of the handwriting.

Put your priority right.

Khiat Han Hwee Adrian said...

Hi Anonymous 8:30,

Thanks for your concern. My English is really quite bad. I know about it and been thinking how to improve it. I purchased some Primary School English books to read but don't seems to improve. I thought of going to Toastmasters but don't know how to join and afraid I cannot commit the time with my workload and grassroot work. I thought of joining British Council but a bit expensive.

I got F9 for English in Secondary 3 and 4 and nearly failed to get into Poly. and it improve during Uni when I wrote a lot of reports. I regretted not learning in school in the past and I do not have the luxury of time and money today to re-learn.

If there are subsidized language classes for adults, I don't mind signing up for it.

Anonymous said...

Get a mentor.

Lion Investor said...

Relearn all the grammatical rules and read a lot of books.