Thriving as a successful financial advisor in Singapore's fast-paced landscape

In a fast-paced society like Singapore, financial advisors face unique challenges in building lasting client relationships. Lilian Ng, a 15-year MDRT member with one Court of the Table qualification, has found success by adapting her approach to this frenetic pace of life while prioritizing genuine human connections. Her 37-year career offers helpful takeaways for MDRT members looking to thrive in this demanding environment. 

 

Building client trust through human connection 

Despite the pressure for quick transactions, Ng emphasizes the importance of a personal touch. "In today's world, where financial advice can often feel impersonal, I aim to bring a human touch to the way I serve my clients," she explains. "My focus goes beyond numbers and policies—it's about connecting with people, understanding their unique concerns and addressing their needs with care and empathy." 

Ng's philosophy extends beyond mere financial planning. "Financial planning is not just about securing wealth. It's also about safeguarding clients’ peace of mind and helping them protect what matters most. This belief drives me to build deep, trust-based relationships where clients feel heard and supported," she shares. 

To achieve this, Ng employs the C.A.R.E approach—being Connected, Accountable, Responsive and Empathetic. She elaborates: 

• Connected: Regularly engaging with clients, even outside of sales opportunities, helps to foster lasting trust 

• Accountable: Taking responsibility for following through on promises, such as policy updates or quick claims processing, builds reliability 

• Responsive: Timely responses and keeping clients updated on their policy status ensure clients feel attended to 

• Empathetic: Understanding clients’ stress and challenges allows her to offer tailored advice that aligns with both their immediate needs and long-term goals, without overwhelming them 

Her commitment to her clients also extends beyond conventional advisory services. She recounts an instance that illustrates her approach. "When my client's wife was hospitalized, although their health insurance policies were with another provider, I guided them through the claims process, helping to avoid any potential mistakes. This was not about closing a sale, it was about being there for them during a challenging time,” she shares.  

This further reinforced her belief that financial advisory is about more than just policies. “Clients want to feel that their advisor is truly invested in their well-being, not just their financials. When you show empathy and care, you set yourself apart and strengthen these bonds," she adds. 

 

The 5 Cs for sustained success 

The foundation for Ng's long-term success in building lasting client relationships is based on 5 Cs: Competence, Credibility, Connection, Communication and Care. "These principles guide me in every client interaction, helping me navigate the unique challenges of our fast-paced environment," she explains.  

She shares more about various client interactions and how they have shaped the way she manages her practice.  

1. Competence: Ng constantly invests in learning to stay ahead of industry changes. She shares, "A client once came to me after having been advised poorly by another advisor, leaving them confused about their coverage and future planning. By applying my technical expertise, I provided a detailed analysis of their current policies and created a comprehensive plan to address gaps and align with their goals. This instilled confidence and led to a referral, showing how staying competent helps build trust.” To this day, she still constantly makes the effort to stay up to date with the latest industry knowledge, whether it's understanding new regulations or refining her advisory techniques. This makes her feel more assured that she is able to provide the best solutions to her clients.
2. Credibility: Transparency and integrity are crucial, especially during uncertain times. "During the height of the pandemic, I guided a client through a complex claims process. Although the situation was uncertain, I remained transparent, explaining possible outcomes and ensuring I provided consistent updates. This honesty reinforced my credibility, and despite the delays, the client was appreciative of the clear communication," she recalls. Whether the outcome is favorable or not, she believes that being transparent reinforces reliability in the long term.
3. Connection: Understanding clients' needs efficiently is key. She shares, "I once had a client with a young family who was concerned about both life insurance and children's education planning. I spent time understanding their aspirations and designed a package that met both their protection and future financial needs. This personalized approach not only met their needs but also fostered a strong bond.” Emphasising the importance of a personal touch, Ng ensures she regularly checks in with clients outside of regular reviews, such as on birthdays or when there’s a life event, to ensure she keeps up to date with their evolving needs.
4. Communication: Simplifying complex insurance concepts for her time-pressed clients also helps to make the process less overwhelming. She explains, "I helped a client who had difficulty understanding the differences between several life insurance products. I simplified the terminology and provided side-by-side comparisons, walking them through the benefits of each option." Using easy-to-understand language ensures her clients feel confident and clear about the choices they make.
5. Care: Going the extra mile builds lasting trust. Ng recounts, "One of my long-time clients faced a sudden health crisis, and I expedited their claim while coordinating with the hospital. I followed up personally throughout the process, ensuring everything was handled smoothly." Going above to demonstrate care can be a powerful way to turn a transactional relationship into a meaningful partnership. 

Ng emphasizes the importance of adaptability in applying these principles, "Depending on the situation, I might focus more on one area than another. Competence and Communication are emphasized during policy reviews or claims. Connection and Care come into play during personal milestones or challenging life events. Credibility is woven into every interaction by being truthful and reliable," she explains.  

 

Balancing efficiency and a personal touch 

It is also important to note that in fast-paced environments, advisors must also find ways to serve a large client base efficiently without sacrificing personalized attention. Ng achieves this balance through careful time management and strategic use of technology. She illustrates some of the strategies she incorporates into her practice: 

1. Time blocking: Dedicate specific blocks of time during the day for certain tasks like follow-ups (9–11 a.m.), client meetings (11 a.m. –3 p.m., 5–9 p.m.) or administrative work (3–5 p.m.). This ensures she is focused on one set of tasks at a time, reducing distractions and boosting productivity. 
2. Automating routine tasks: Leverage technology to automate repetitive tasks, such as setting up reminders for follow-ups or policy reviews. This reduces manual effort, allowing her to focus more on personalizing her interactions with each client. 
3. Setting boundaries: Set clear working days (Monday, Tuesday, Thursday and Friday) and communicate them to her clients. This helps manage expectations and ensures that she maintains a healthy balance between work, family and personal life.
4. Delegation: In addition to delegating tasks to her administrative team, she empowers them to take on decision-making in areas like client servicing, ensuring that they can handle inquiries and minor requests without her direct involvement. This allows her to focus on more critical or complex tasks, while ensuring clients receive timely support. 

"To thrive in Singapore's fast-paced life insurance industry," Ng concludes, "you need a holistic approach that combines technical expertise, a heart for service, and continuous learning with positivity and resilience." 

By adapting to the rapid pace of Singapore's society while maintaining a focus on human connection, advisors can build successful, sustainable practices. Ng's approach demonstrates that even in a time-pressed environment, thoughtful, personalized service remains key to long-term success and client trust. 

 

Contact: MDRTeditorial@teamlewis.com