Choosing a financial advisor can feel like a leap of faith — you're trusting someone with details you might not share with close friends. A few practical checks can turn that leap into an informed decision.
Understand what kind of advice you actually need
Some advisors focus narrowly on investments. Others cover a broader scope — retirement, insurance, cash flow, and estate planning as one connected plan. Neither is wrong, but they're different services. Before you meet anyone, get clear on whether you want a single product recommendation or a comprehensive financial plan.
Check credentials and MAS representative status
In Singapore, anyone giving financial advice on regulated products should be a representative registered with the Monetary Authority of Singapore (MAS), which you can verify on the MAS Financial Institutions Directory. Professional designations like CFP (Certified Financial Planner) or ChFC/S (Chartered Financial Consultant) indicate a level of formal training in financial planning, beyond product licensing alone. It's reasonable, and expected, to ask an advisor for their MAS representative number and qualifications directly.
Ask how they're paid
Advisors are typically paid through commissions, fees, or a combination of both. Neither model is inherently better, but you should understand it clearly, since it can shape which products get recommended. A good advisor will explain their compensation without you having to ask twice.
Look for a planning process, not a product pitch
A good first conversation should be mostly about you — your goals, your concerns, your current financial picture — not a presentation of products in the first meeting. If a recommendation arrives before your situation has been properly understood, that's worth questioning.
Trust the fit, not just the résumé
Financial planning is a long-term relationship, often spanning years or decades of reviews and life changes. Credentials and process matter, but so does whether you feel comfortable being honest with this person about money, which is rarely a purely rational topic. It's worth meeting more than one advisor before deciding who you want in your corner.