Perhaps it is also timely to remind the public that being licensed does not automatically make someone's advice trustworthy. This is particularly so when the overwhelmingly dominant form of compensation model in Singapore’s financial advisory industry is commission-based. Whether it’s finfluencers or financial advisers, consumers need to understand the types and extent of conflicts of interest present.
Some of these influencers are persuading on certain financial or investment strategies over another and not products specific. More like delivering general finance tutorial online.
6:15 hmm legally, you said “ALL” to those questions and “ALL” to those stages. I wonder what’s the actual wording of the financial advisers act if it includes “ALL”. Case in court to argue by finfluencer that says I only watch CNA that says “ALL” to those stages by didn’t know that allegedly ( I didn’t read up on the act) if its “OR”. Thus Finfluencer given much reduced court sentencing or acquitted which result in miscarriage of justice. Interesting case study to monetise as mass communications cum legal thesis.
That only apply to sg law. Then do it else where but still continue with this content. Is it just a way to earn money? Sg can’t even enforce zero scammer :/
Perhaps it is also timely to remind the public that being licensed does not automatically make someone's advice trustworthy. This is particularly so when the overwhelmingly dominant form of compensation model in Singapore’s financial advisory industry is commission-based.
Whether it’s finfluencers or financial advisers, consumers need to understand the types and extent of conflicts of interest present.
Some of these influencers are persuading on certain financial or investment strategies over another and not products specific. More like delivering general finance tutorial online.
Hmm what about trading courses ....does the Financial Advisers Act applies ?
6:15 hmm legally, you said “ALL” to those questions and “ALL” to those stages. I wonder what’s the actual wording of the financial advisers act if it includes “ALL”. Case in court to argue by finfluencer that says I only watch CNA that says “ALL” to those stages by didn’t know that allegedly ( I didn’t read up on the act) if its “OR”. Thus Finfluencer given much reduced court sentencing or acquitted which result in miscarriage of justice. Interesting case study to monetise as mass communications cum legal thesis.
That only apply to sg law. Then do it else where but still continue with this content.
Is it just a way to earn money?
Sg can’t even enforce zero scammer :/
FLFC