6 Ways to Succeed as a Financial Consultant in Singapore

6 Ways to Succeed as a Financial Consultant in Singapore

(Note: The following are personal thoughts, views and opinions of Eunice Yuen)

For the last almost two decades, I have met and coached many successful consultants. I believe that everyone is capable of huge success. But the question is: Are you willing to do the work?

It doesn’t matter if you are new to this profession or a seasoned financial consultant. The rules are simple. Are you constantly sharpening your knowledge and working hard to achieve your goals? Are you learning from others and getting out of your comfort zone? Successful financial consultants are willing to do the things that average consultants don’t.

I was fortunate to meet a great mentor during my early days in my financial career. This was extremely important especially for someone like me who had no financial background. With a business plan and intensive training to understand the various products, I then put my skills into practice to strengthen my abilities and my relationships with my clients. I earned my first pot of gold before I reached 30 and these factors contributed to my financial freedom today.

Unfortunately many financial planners may not have the mentors they need. So here, I would like to share some of my personal tips that helped me succeed as a financial consultant. I hope these can help you find your niche and achieve the success you desire too.

1. Manage it Like Your Own Business

When you’re a financial consultant, you are managing your own business. Your success is dependent on yourself. You’ve the freedom to manage your work but never take this flexibility for granted. Organise your time to make calls, meet and follow up with prospective and existing clients. When you plan your work week, you’re in charge. If you let the problems of the day plan your life, you are “reacting” and not proactively managing it. You’re your own boss and you’ve to be in control!

2. Choose Your Target Market

Be strategic in the clients you choose to serve. You can select up to 3 target clients based on your preference. By attempting to serve everyone, you’re really serving no one. The benefit of defining specific clientele will help you get a picture of who you’re serving. Are you a consultant for the high net worth? Or perhaps your forte is in planning for professionals? When you can define the demography of your ideal clients, people will recognise you for who you work best with.

3. Be an Expert and Share Knowledge

Create a reputation that’s known for an area of expertise within your target clients. By doing so, you can market yourself more easily as clients always want a consultant who is perceived as knowledgeable and capable of solving their problems. You may even have the opportunity to speak, write, or comment about topics, new products and trends within your niche. You’ll stand out from the rest and be noticed!

4. Invest in Yourself

As a financial consultant, your duty is to help others invest in the right products, but are you also investing in yourself? What are you doing during the weeknights and weekends? Are you wasting time that could be used to invest in acquiring knowledge, not only in your industry but also areas that could make you a well-rounded person? What are you doing to ensure that you’re operating at your best? Are you starting to exercise? Invest in your knowledge, skills and energy now!


5. Meet New People

I often meet consultants who are too caught up with the daily tasks of running the business. They have appointments, paperwork, phone calls to make, emails to answer, and seemingly endless other things to complete. But is your business moving? Perhaps it’s time to meet new contacts! Schedule meetings with prospective clients and attend networking events. New business is not going to suddenly knock on your door if you’re at your desk with your head down immersed in paperwork.

6. Build a Team

You may be surprised but you’ll actually have more freedom in a team. You can’t do everything without giving up something. Some consultants may be reluctant to give up control or concern that hiring an assistant will be too costly. But creating a team allows you to concentrate on areas you do best, while giving you time to network and meet clients. You can even start building a brand in line with your vision and mission to grow your business!

Putting in the Heart Work

Over the years, I have built a solid and closely-knitted team of leaders and consultants who are passionate high-achievers. We work hard and play hard together. We share success stories and stand by each other to overcome challenges. Ultimately I believe that if you put yourself in the shoes of others, to understand the situation they are in, you will be sincere in helping them and this builds trust and stronger relationships. This applies to both your colleagues and your clients.

Ms Eunice Yuen is an avid entrepreneur, currently managing a group of over 100 financial consultants and a team of 10 agency leaders. To find out more about Ms Eunice Yuen, please visit her Facebook Page or email eunice@jcorganisation.sg

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