It all started four years ago when our careers were going through impending changes resulting from the Financial Advisory Industry Review (FAIR). Personally, I felt the Kairos moment and the need to rise up to the call to make a difference in our industry.
In the blink of an eye, I am now to receive the baton from our immediate Past President Leong Sow Hoe. The past years' executive councils had worked relentlessly on numerous fronts. I would like to advance these to a whole new level, paving the way as an industry thought leader.
The question before me has always been: Which comes first, the goose or the egg? My answer is – the goose. This being the case, we have to start making a difference in our nation's well being.
The finance industry has gone through very challenging times in the past three decades amidst all the changes in regulations and unhealthy publicity of the profession. Thankfully, we made a positive impact through the works done for the past two years – such as the Nationwide MediShield Life Pro-Bono One-to-One Consultation project, the ChFC/S being conferred the IBF Accreditation Status and many others.
As we move forward, what challenges will we face? It would mainly be the threats from external environment in this globalisation climate and changing trends of our society at large. We must be prepared in every way to weather it in the next 5 to 10 years. To ensure we stay current and prepared, we, at IFPAS would like to further:
- Widen our Social connection through more giving back projects where we engage the general public with our time, technical knowledge and even our finances. In the pipelines, we are looking at setting up an IFPAS Foundation where funds from our generous members could be channeled to educational aid for needy students and the likes.
- Deepen our industry Skills competency through a structured educational roadmap for members and regular educational seminars to advance and sharpen our professional knowledge and skills.
- Expand our membership for Self-regulation. Self-regulation is our long term desire as a professional association. To get there, our membership base needs to grow in tandem with our industry growth.
IFPAS EXCO will relentlessly and fearlessly advance the 3 'S'
We are committed and convicted to broaden our social presence and deepen our skills set to meet the demands of the ever-changing environment. It leaves us with an ardent request to ask of all members to help fulfil the last 'S' - Self-regulation. This journey can only be brought to fruition with unprecedented membership numbers. I call upon each and every one of you to bring in members to advance the 3 'S'.
Eventually, it is our desire that our industry be self-regulated, not unlike those in the legal, accounting or even medical field.
~ It was the late American President John F. Kennedy who said, “My fellow Americans, ask not what your country can do for you, ask what you can do for your country.” ~
Singapore's premier association for financial services and insurance practitioners dedicated to upholding the ethical and professional standards of the industry. Established initially as Life Underwriters Association (LUA) of Singapore in 1978 as a non-profit entity, we changed our name in 2003 to reflect the transformed financial landscape.
the interests of our members by being the leading voice of the industry on legislative, regulatory and policy-related matters. We do so by keeping them informed of new developments, providing them a forum to air their views on industry issues and being a channel of communication between members and other industry bodies and regulatory authorities.
our members by providing them with continual professional and educational development and professional indemnity insurance, as well as promoting ethical and professional standards in the industry.
in serving the community by providing members with a platform to do active social service which utilises their professional skills and knowledge.