http://meyadosingapore.blogspot.com/
Whilst I am away keep up with the news
Thursday, October 21, 2010
On Holiday
Off for a week with the family to Thailand, can't wait.
Check in with
singapore@meyado.com
http://www.meyado.com.sg/
Check in with
singapore@meyado.com
http://www.meyado.com.sg/
Monday, October 18, 2010
Working in Singapore
OK, I'm biased, I have been in Singapore for 3 years now having been in Dubai for 6 years prior to that. Singapore is a great place to work. Firstly, the MAS regulates business in an efficient and fair manner. Provided you have achieved an employment pass in Singapore, there are three exams to take and then you can apply to become a Financial Representative under your firms Financial Adviser license. Regulation creates a level playing field and protects firms, clients and advisers. So all good there.
Secondly there is the location, South East Asia is a wonderful place. Singapore itself is fine but can get a little "samey" after a while, being an Island and a City State in one, so trips to Malaysia, Thailand, Indonesia, Cambodia, Vietnam make interesting short breaks. Further afield Japan, Australia, and India are all 5 - 8 hours away.
Then there is the taxation. Unlike back in my home of the UK taxes are very reasonable, you can expect to pay around 12 - 15% of your income in tax, and that's it. No extras like National Insurance, Council Tax and so on. VAT is 7%.
Being a small city it's easy to get around. In Dubai I would sometimes struggle to meet even 2 people in a day with traffic problems and distances between parts of the city. In Singapore 9 times out of 10 I walk to my meetings and easily meet 3 - 5 people every day.
The weather can be great or a challenge, depending on your perspective. My perspective usually changes depending on whether I am sat by the pool or walking to an appointment in my suit. It's a relatively constant 32 degrees all year round and it's either hot, or hot and wet.
Sure there are lots of drawbacks, for me being a petrol head cars and the ability to drive are a downside, but I make up for it with long drives into Malaysia from time to time.
Moving to Singapore right now, in my opinion, is one of the best moves anyone could make if they are looking to progress a career and seriously enhance their lifestyle. Feel free to email me at markpaine@meyado.com if you want to discuss opportunities here.
Secondly there is the location, South East Asia is a wonderful place. Singapore itself is fine but can get a little "samey" after a while, being an Island and a City State in one, so trips to Malaysia, Thailand, Indonesia, Cambodia, Vietnam make interesting short breaks. Further afield Japan, Australia, and India are all 5 - 8 hours away.
Then there is the taxation. Unlike back in my home of the UK taxes are very reasonable, you can expect to pay around 12 - 15% of your income in tax, and that's it. No extras like National Insurance, Council Tax and so on. VAT is 7%.
Being a small city it's easy to get around. In Dubai I would sometimes struggle to meet even 2 people in a day with traffic problems and distances between parts of the city. In Singapore 9 times out of 10 I walk to my meetings and easily meet 3 - 5 people every day.
The weather can be great or a challenge, depending on your perspective. My perspective usually changes depending on whether I am sat by the pool or walking to an appointment in my suit. It's a relatively constant 32 degrees all year round and it's either hot, or hot and wet.
Sure there are lots of drawbacks, for me being a petrol head cars and the ability to drive are a downside, but I make up for it with long drives into Malaysia from time to time.
Moving to Singapore right now, in my opinion, is one of the best moves anyone could make if they are looking to progress a career and seriously enhance their lifestyle. Feel free to email me at markpaine@meyado.com if you want to discuss opportunities here.
Tuesday, October 12, 2010
RDR in the UK
The Retail Distribution Review in the UK is becoming more and more of a theme here in Singapore. The review essentially changes the way in which Financial Advisers can work in the UK. All advisers will now be required to hold a Diploma in Financial Planning.
Currently advisers in the UK are required to sit and pass the Certified Financial Planner examinations and further to hold specific qualifications in order to give specialist advice.
The new Diploma is estimated to take up to 600 hours of studying.
The common summary of the effects of RDR are the abolition of commission and the introduction of fees for advice. This essentially means that you will pay for your financial adviser just as you would for your accountant or lawyer.
What the effects of this will be on the investor on the street remains to be seen, it is new ground for investors as well as advisers.
In Singapore, there have as yet been no such moves but firms, such as Meyado, have started to introduce the option of paying an adviser fee and not paying a commission.
RDR comes into play at the end of 2012 in the UK and I am sure that there will be many further developments over the coming 24 months or so.
***by way of personal disclosure I hold FPC and CFP module examinations from the UK as well as M5, M8 and M9 in Singapore and am commencing study of the Diploma in Financial Planning ***
Currently advisers in the UK are required to sit and pass the Certified Financial Planner examinations and further to hold specific qualifications in order to give specialist advice.
The new Diploma is estimated to take up to 600 hours of studying.
The common summary of the effects of RDR are the abolition of commission and the introduction of fees for advice. This essentially means that you will pay for your financial adviser just as you would for your accountant or lawyer.
What the effects of this will be on the investor on the street remains to be seen, it is new ground for investors as well as advisers.
In Singapore, there have as yet been no such moves but firms, such as Meyado, have started to introduce the option of paying an adviser fee and not paying a commission.
RDR comes into play at the end of 2012 in the UK and I am sure that there will be many further developments over the coming 24 months or so.
***by way of personal disclosure I hold FPC and CFP module examinations from the UK as well as M5, M8 and M9 in Singapore and am commencing study of the Diploma in Financial Planning ***
Thursday, October 7, 2010
Neuro Linguistic Programming
Yesterday I spent the day participating in a Neuro Linguistic Programming (NLP) session presented by Neil Orvay of Evolution-U (www.evolution-u.asia) . A very interesting day, and a great introduction to what can be a controversial theme. NLP training helps participants become more aware of processes and techniques to increase rapport, influence negotiation, develop linguistic techniques and to engage in efficient and effective meetings.
Body language, eye movements, tone of voice, body position and so forth were facets I was quite familiar with. What I found interesting was how NLP can define these subconscious signals and help advisers, managers, salepeople get a better feeling for their clients / staff / customers and thus provide better service. So rather than steering the meeting the participant can gauge and alter their direction to create a productive outcome.
All in all an interesting session.
Body language, eye movements, tone of voice, body position and so forth were facets I was quite familiar with. What I found interesting was how NLP can define these subconscious signals and help advisers, managers, salepeople get a better feeling for their clients / staff / customers and thus provide better service. So rather than steering the meeting the participant can gauge and alter their direction to create a productive outcome.
All in all an interesting session.
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About Me
- Mark Paine
- I joined Meyado Private Wealth Management as an international financial adviser in 1993. I have lived and worked in the USA, Europe, the Middle East and currently reside in Singapore in South East Asia where I am Managing Director of Meyado Pte. I am a qualified Financial Representative in Singapore under the MAS Financial Advisers Act as well as holding UK FSA CFP and FPC examinations and a BSc in Business and Law from the University of Hertfordshire in the UK. You can contact me at markpaine@meyado.com
