Chief Editor’s Message
Dear Members, As you are reading this, we have now successfully crossed over to the third quarter of 2009. A number of significant events have taken place in the second quarter. Most financial markets started the quarter on a positive note and Asian stock markets have rallied from its low.
A significant development that occurred on the financial front recently was when the Monetary Authority of Singapore (MAS) banned 10 financial institutions from selling structured products linked to the failed investment bank Lehman Brothers. MAS found lapses in the sale of structured products in these institutions and banned them from operating for over a period of between six months to two years. All financial practitioners should view this episode as a lesson and strictly follow the guidelines set by the MAS under the Financial Advisers Act to bolster consumer confidence levels once more.
On the health front, however, the number of deaths related to the H1N1 virus in Singapore has totalled to 17. Despite this unfortunate situation, Singapore is still doing a fantastic job at monitoring and curbing the spread of the virus.
In the face of such negative developments, this issue of The Practice explores how financial planners can recast the conversation and shape the world like how Starbucks did. Written by Lawrence Chong, Director for Strategy Development at Consulus Cato Partners, the article will give you a refreshing perspective on how to build a financial-planning brand that can shape our world.
We have also invited Bill Lexmond, Honorary Member and Advisor of FPAS and Managing Director of UBS AG (Singapore), to share tips on how to be good financial advisors by understanding and implementing the needs of clients effectively. Turn to page 15 to find out how this can be done. Given the fact that H1N1 looks set to stay, corporate risk management has been made compulsory in most financial institutions. Our editorial member, Cai Zong Zhen, will share with you her insights on how to finance business risk through insurance so as to promote business continuity. Clueless on how to invest? We outline fund manager Anthony Hoe’s systematic approach to investing. Read his article on page 17.
Finally, on behalf of FPAS, I would like to thank all members and contributors who have contributed and supported The Practice for two years since its inception. Rest assured that the magazine will continue to be an enjoyable and insightful read for all.
Happy reading!
