Ryan Phua

Financial Services Consultant

Contact: ryanphua@aia.com.sg

I am Ryan Phua and here is my why of joining, and staying, in the financial planning industry.

Growing up, my life seems pretty comfortable and smooth-sailing.

Being the only child in the family, my parents supported me in every way they could. Academic wise, I was able to get into SMU pursuing double degrees as well as being awarded a scholarship.

I first chanced upon the financial planning industry as an intern towards the end of my first year in University.

After the internship, I felt that being a financial planner resonates well with my outgoing personalities and interests in Finance.

Hence, I made up my mind to take up a part-time role of being a financial planner, while juggling alongside my full-time undergraduate studies.

Throughout my two years in the industry, I experienced many ups and downs.

Striking the balance between studies, having a social life, and being a financial planner is tough.

There were plenty of times when I wanted to give up so badly.

I have explored other industries as well throughout my university days.

I have completed internships and even secured a priority offer in a top consultancy firm.

However, my heart still stays with the financial planning industry despite all the objections from my loved ones.

Being in this industry is never easy…

First, the income is hardly stable.

Secondly, the industry is seemingly over-saturated.

Third, having double degrees in the industry may seem to be over-compensating.

However, in my perspectives, here is how I view the three concerns above.

First of all, income in the financial planning industry is pegged to my efforts. The harder I work, the more I will earn.

There is no corporate ladder to climb and you promote based on merits.

The idea of waiting for my superior to promote or leave the company before I can promote scares me.

Secondly, the industry may have experienced a surge in financial planners over the last few years, but the broadness and sustainability of the customer base reassures me.

Every rational person regardless of age will require constant enhancement of his or her insurance coverage, as well as retirement planning as he or she progresses in life.

Lastly, having double degrees mean that I am better equipped with knowledge to provide more insightful and valuable advices to my clients.

I treat this as a differentiating point between myself and the rest of the financial planners in the industry.

Above all, I believe that it is my passion of making a difference in another person’s life that kept me going.

A story about one of my clients, Ian (not his real name)…

I met Ian who was in his 50s during a road show.

To my surprise, he has no existing policy at all.

I sat down with him and managed to convince him of the importance of transferring away the major risks in his life through insurance coverage.

Eventually, he picked up three basic plans from me to cover himself sufficiently against the major risks.

Fast forward eight months later, I received a call from Ian’s son.

He told me that his dad suffered a stroke and he is calling to enquire about the policies he bought eight months ago.

I was dumbfounded.

Ian was a healthy and outgoing individual. An individual that actually made the effort to exercise at least 30 minutes daily.

How is it possible that he suffered from a stroke?

I proceeded with managing his claims.

I was glad that the pay-out was sufficient to support his family during this difficult time.

Ian did not have to be concerned about the treatment cost nor the living expenses of his loved ones, but instead could focus on the recovery process.

Through this story, I would like to bring across the importance of being covered regardless of how late you start.

At least, get started.

I could not imagine how will it be for Ian if I did not meet him eight months before the unfortunate incident.We will not be able to predict when will we fall ill or run into any mishaps.

The best we could do is to ensure that when one something unfortunate happens, finances would be the least of our concerns.

A person would be stressed enough when faced with a mishap, we and should not let the finances or treatment costs add to that stress.

When one life is gone, the others must live on.

Once again, my name is Ryan Phua.

I have listed out my why of joining the financial industry.

It will be my pleasure and honour to be able to work together with you in planning out your bespoke insurance and retirement portfolio.