From a Young Student Adviser Then to Full Time Wealth Manager and Currently Spear Heading a Advisory Team
With ZERO sales experience and no network, I jump into it, as I was promised a $1500 basic monthly income for one year, and I wanted some experience related to my degree.
Rising trend in financial planning in Singapore. As the unprecedented Covid-19 pandemic hit globally, Singaporean do realise the importance and essential of having a sound and prudence financial portfolio.
How I begin my journey:
Dylen Er embark on this financial planner journey at the age of 23 (before the age of 23) when he was still a study in SIM , pursuing his degree in Banking & Finance.
With ZERO sales experience and no network, I jump into it, as I was promised a $1500 basic monthly income for one year, and I wanted some experience related to my degree.
Being young and inexperienced, I avoided approaching friends and relatives. Despite that, over the years there are a few closer friends who came forward to me and I am very grateful even due today. My clienteles are mainly 40s-50’s who entrusted their financial portfolio to me. Many of them are strangers, turned clients and over the years we got even closer like friends.
I can still remember myself heading to roadshows and appointments after my lectures. I was working around the clock, other than school, I typically spend 6-7 days a week prospecting and meeting new clients.
I studied and worked very hard. In 2016, after two full years as a student advisers, I graduate with a 2nd upper Honours degree and achieve my Million Dollar Round Table (MDRT) recognition. Looking back, it was quite incredible. Surprisingly, I wasn’t sure how I manage to juggle both work and school at the same time. What I came to realise is that to succeed in any trade or career, a good mentor is essential. I am fortunate to have a great leader in my industry who can constantly inspire and motivate me for greater success.
How had you celebrated your success:
At the age of 27 I decided to form my own team of associates. I made the biggest purchase of my lifetime, I bought a BMZ Z4 convertible sport car, with full cash. It was the year before that I had achieved my Million Dollar Round Table (MDRT) recognition.
As a child I never dreamt that I will be able to own or drive any luxury car before 30. It was quite unbelievable, I felt great as I did not took up any loan . My dad, who is a typical ‘chinese’ father, he ever drove out a few occasion, I am thankful that he can experience the ride too. I can still remember the big smile when I drove my mum out for the 1st time. I had also invited her to one of my organisation awards night, to celebrate on my achievement, that night I looked into her eyes I can see how proud she was on my achievement.
Looking back, I manage to achieve all these because of the decision I made in 2013. Most importantly because of this phrase "One may distinguish himself in any trade" (in mandarin) which my mother said to me when I asked her for opinion whether to join the industry. Having that said, I am truly grateful to that.
Of course the fulfilment I received from my clients is another form of recognition of my hard work. Important and special occasions I will be there to celebrate with them.
How do you value add to your clients
I consider myself as a very active learner, I live by this saying “investment in knowledge always pays the best interest”. Whenever I acquire any new skills or knowledges, I immediately put it into practise and maximizing the value I can create to my clients. Just last year I completed my will writing course, and I am a certified estate planner. As of 2020 I have assisted more than 10 clients to either draft their wills or Lasting Power of Attorney (LPA).
Personally, I will ensure that I schedule and go for periodic financial review with my clients. Is important to stay connected and involved in your clients’ life. To me, is not all about selling, you must proof that you are a dependable adviser, and put effort to strengthen existing relationships this in turn improve retention and foster new client acquisitions.
Like the current COVID 19 situation, with such uncertainty and volatility in the economic, these regular financial “check-ups” I put in place had payoff extremely well. Most of my clients feel empowered with certainty and clarity on their financial portfolio. The trust and confident I built in my clients have bought me a lot of referral especially during this turbulence time.
Throughout the years I have gain valuable insights from many of my clients as well. The beauty of this industry, is over the years I have learnt the art of “Connecting with People from the Heart”.
What do I aim to persue next:
The next big thing could be Fintech and AI, I looking to integrate this technology into the advisory process to bring more convenient and technology to our advisors and clients. Perhaps a software or a system to complement post servicing. For example, bringing AI into investment platform to update and track portfolio performances on a regular basis. This will bring benefits to both advisers and clients.
Last but no least, at all times, I am seeking to buy assets that generate passive income. Ultimately, to convert my active income into passive income. I am a big fan of good of asset class that pay good dividends. Even with the current market condition, I am still holding some of my shares. I see plenty opportunity in the local property market as well. I will be attending property courses and invest in a few undervalued properties to enjoy passive income.