I am an insurance agent and also registered as a unit trust consultant. However I am never very active in promoting insurance and unit trust. For the past 10 years, I only managed to hit my target to maintain my licenses. :)
Nevertheless, I can tell you that I am more knowledgeable than many of the top sales insurance agency managers and unit trust consultant managers out there in the market. LOL.
Ha2. I just like to attend classes, seminars, motivation talks. Both these 2 fields allow me to gain a lot of insight by attending the many free (or minimal) educations they provide. I even obtained Register Financial Planners license and now registered as Financial Adviser.
I gain a lot because my knowledge has enabled me to better my financial situation. I am now well planned with my own financial matters.
How do unit trust companies teach their consultants how to choose funds for their customers? Most common used method would be to pick the high return funds at certain periods to show to the customers. Then, at the launch of new funds, will do a good projection of the funds with some deduction of sales charges. One Agency Manager even said it doesn't matter what fund to choose, they are all the same.
Anyway, it really depends on consultants' experience, knowledge and code of ethics when comes to selling of funds. If you meet a consultant who sees only commission and oversea trip incentive, then the customers would be the loser. I would suggest that if you were to invest a lot of money plus EPF in unit trust, do ask a lot of questions. And educate yourself. There are many useful website to guide investors. Happy investing!
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