Hi! My name is Yi Jun. Here is my short sharing about my path to working as an IFA.

I graduated from NUS with an Honors in Arts (Architecture), and while having interest in design and buildings, working in the architecture industry was not my calling. It is also when I freshly graduated that I chanced upon the financial planning industry, further ignited with personal experiences on the importance of money management that compelled me to join this career.

My parents are blue-collar workers and do not have high educational qualifications, and we led a simple, humble lifestyle. Growing up in a middle-class family inculcated in me a strong belief that one should not spend beyond their means. However, as I grew older, I realised that this principle alone is not enough. Sometimes, we can do no wrong with our choices, but misfortune can still befall upon us.

Once, my dad suffered a heart attack – thankfully, he got medical attention in time, and the hospital bills were covered by his insurance that he purchased a long time ago. Had he not been covered, the medical bills would have crippled my family’s finances.

Misfortune aside, I have come to understand the sobering truth that while we need to earn our living, the money we earn needs to be grown properly for us not to be trapped in an endless cycle of toiling at work, or as would the Chinese say it, “手停口停”. As we age, so do our parents, and it is my wish that they can work because they want to for an active lifestyle, and not because they are forced to for lack of retirement funds.

Despite my desire to learn about money management, I had a rough beginning to this career, as I was inducted in a tied agency of an insurance company (which means I am licensed to only distribute one insurer’s product) with a culture that I did not align with. I thus sought a more suitable environment, and I am glad to currently work here in an IFA team whereby I am not restricted to one insurance company’s products, and more importantly, have access to more investment solutions. This is important because insurance alone protects but cannot build wealth. We need to have the right tools and platforms to invest safely and profitably as well.

The topic of money is a fascinating one. It is a social construct, yet permeates all aspects of our lives. We should be a master of it, and not the other way around – for a better, more comfortable life for ourselves and our loved ones.