Interviews

What is your official title?

Mr Bernard Tay. IPP, Financial Consultant

Meet IPP Bernard-20220727_120249-Meeting Recording.mp4

What will you advise a beginner who has just learned all the basics terminology to learn next? Reading news? Reading the Stock Market Graph? Or just start investing?

• Save 6 months of saving (Even for young people who is living under their parent because you need to be willing to be able to let go of your money for a time frame)

• Reading news can be 1 sided so don’t just read news having a fund manager can help you review

• Attending seminar

• Bloomberg is quite reliable

• Moneysense is a good start it is a government blog

• Reading graphs is not necessary because it can be confusing you could risk analysis paralysis

What do you think is an excellent way to protect and grow your money in this uncertain market where prices fluctuate rapidly?

• You can ask a financial consultant, manager

• There are no criteria for retail banking but there are some limitations

• Dollar-cost averaging is a good way

• You can also put in the long term so that you won’t put out when it low

Independent vs Bank fund manager?

• Banks are usually tied to their own product and service

• Independent they will charge you a fee or interest earned from a product or service they recommend you

Which investments would you put your first 100k in?

• Depending on the type of people risk, age etc

• ETF

• RIT

• A Managed fund

What type of investment should a young person put in his portfolio to diversity his risk?

• Young people can take more risks so asset allocation

What is your opinion on diversity across geography? The UK or? The USA? Or even in ASIAN?

• Because the other market has a big influence in Singapore you should invest in those market as well.

• But because a person has limited capital, he could invest in an ETF fund, a unit trust or a certified management fund

• We are living in a global economy so we will be affected by big market

• We also need to know the specific industry like Nasdaq is mostly technology related

Do you have any opinion on young people investing themselves or using robot advisors/ management firms?

• Robot advisors are good

• However, if you want to have a connection or are able to communicate with the Consultant regularly management firms will be better.

• You should also have basic knowledge before trusting the management firms and you are able to ask the right questions

Do you have any other advice for me who wish to pursue a financial-related career? Maybe where I can gain more knowledge are there some courses or is it even worth it to take a test for a certificate?

• A normal person shouldn’t need to attend a course.

• Seedly, MoneySense, Dr Wealth (Primarily videos but also provide classes)

• Certified financial planner (Financial planning association of Singapore) https://fpas.org.sg/public

What is your official title?

Ms Yireng. Deputy Manager TP I&ED. (Supporting Start-ups)

Meeting in "General"

What will you advise a beginner who has just learned all the basics terminology to learn next? Reading news? Reading the Stock Market Graph? Or just start investing?

• Depending on the individual appetite.

• If you are someone who prefers not to think too much Fix deposits or go to the bank for their package.

• Can considerate CPF contributions (interest rate relatively high)

• You also need to consider the effort you spend to read the trend if you want to be an active investor

• Insurance is very important

What do you think is an excellent way to protect and grow your money in this uncertain market where prices fluctuate rapidly?

• CPF is more of a safe route

• Bank in Singapore is relatively safe

• Don’t invest in too high risk as you lose the possibility of everything

Which investments would you put your first 100k in?

• Definitely not a car

• Invest in a stable return like a fixed instrument

What type of investment should a young person put in his portfolio to diversity his risk?

• Follow what a bank does

• And other interesting areas you think you are interested in

• Depending on the individual does he/she even have 6 months of saving

What is your opinion on diversity across geography? The UK or? The USA? Or even in ASIAN?

• Definitely have a lot of opportunities

Do you have any opinion on young people investing themselves or using robot advisors/ management firms?

• You could consider it if there is credibility

• But those may also lose money

• Unlike CPF or bonds

• They should be read up on stuff too

• Consultant management will consult you more

• At least have insurance coverage

Do you have any other advice for me who wish to pursue a financial-related career? Maybe where I can gain more knowledge are there some courses or is it even worth it to take a test for a certificate?

• Depending on your future you may want to consider it.

• But have a backup plan

• Get proper advice if you don’t want to learn more about it

Reflections:

For Mr Bernard Tay

• Save at least 6 months of saving

• Invest in funds whether ETF, Unit Trust, or Managed Fund to be more diversity

• Certified financial planner (Financial planning association of Singapore)

For Ms Yireng

• Safe investments like CPF contributions, fixed deposits

• At least have insurance coverage

• Depending on the individual does he/she even have 6 months of saving