Financial Planning - The iFast Way - An Introspection - Part 1

iFast Financial is a Singapore-based financial advisor (F.A.) wealth management platform. It provides an array of services including dealing, investment administration, research, software tools, information technology (I.T.) services and backroom functions to various financial institutions and financial advisory firms. It currently caters to the needs of more than 50 financial advisers, exempt financial advisers and financial institutions, and over 2000 financial adviser representatives.

Recently, it introduced a 'wrap account' called DeAM PMS Wrap Portfolio, which was in the model of portfolio management service (P.M.S.). The minimum amount required to avail the service or facility, was INR 5 lakhs. In India, the Deutsche Bank asset management company (A.M.C.) was entrusted the task of distributing the concept to the clients.

iFast Financial is a holder of the capital markets services license and financial adviser's license from the monetary authority of Singapore. It is also a registered investment administrator.

A company by name, Verve Technology, which is Singapore's leading financial adviser hostile business solutions provider, integrated with iFast Financial. Verve Technology's flagship product, Adviser Matrix is currently helping advisers to manage more than SGD $1 billion (Singapore dollars) in assets. Its website is: www.vervetec.com.

As we know, the mutual fund industry is based on the stock markets and the fluctuations in share prices. It is relevant to mention here that the financial advisers act (F.A.A.) was enacted in Singapore in the year 2002. Statistics say that Singaporeans generally are still under-insured.

According to the opinion of Vincent Tong, who is assistant manager, Insurance Solutions, 'iFast Insight' magazine, consumers who do not know what they are covered for when they buy a life insurance policy, run the risk of not being covered for the very event which they thought they had purchased insurance for. (to be continued in part 2)