Asking Tan Kin Lian For Financial Advice: S$200 Per Hour

[silverfox@]

Demanding for payment for financial advice is not wrong, but $200 is steep. He has to show his credentials why he is worth $200 per hour.

 

[myfoot123]

Time is money, especially when you are giving professional advices that help a person to save cost or lower his risk. That is fair enough. However, if you charge other people for asking road directions, that is a different story. I think we should know the difference here.

 

[ivebert]

Time is money, especially when you are giving professional advices that help a person to save cost or lower his risk. That is fair enough. However, if you charge other people for asking road directions, that is a different story. I think we should know the difference here.

Sinkies must learn how to reject idiots asking for directions.

Just shoo off the retards by asking them to use a GPS and Google Maps.

 

[eErotica69]

Legal advice fee is fair because lawyer pay school fee and rental differrent country have different regulation/law. For financial guru almost 99.99% are useless. If they really good they dont need $200/hour. They can make more than $20k/million/day in market just like Warren.

The Western pays financial planners a fee for consultation.
I guess the Financial Planning industry here is not mature enough for consumers to accept paying financial planners a fee.

No thanks to those Product pushers or one-product type agents calling themselves Financial Planners.

 

[chuckyworld]

Demanding for payment for financial advice is not wrong, but $200 is steep. He has to show his credentials why he is worth $200 per hour.

Time to buy US mkt symbol , LYG, IRE and C.

 

[cooleo]

$200 is the rate for some prostitutes. So if you ask me, one suck out money from you and it stays with them, the other suck out money from you with the possibility of getting returns several folds.

Your choice

 

[Rogue Trader]

The Western pays financial planners a fee for consultation.
I guess the Financial Planning industry here is not mature enough for consumers to accept paying financial planners a fee.

No thanks to those Product pushers or one-product type agents calling themselves Financial Planners.

financial advisors here are just salesmen for minibonds or other scams.

 

[da dick]

why do i care if idiots take wayang masters like tan ah lian sriously??

 

[lovesamleong]

This is the link that I've quoted.

http://tankinlian.blogspot.com/2010/11/asking-for-advice-from-tkl.html

If you wish to ask for my advice, please take note of the points stating in this FAQ:
http://tankinlian.com/admin/file.aspx?id=182

That is two different links. The second link you posted has the $200 reference.

 

[Zombie]

I guess the Financial Planning industry here is not mature enough for consumers to accept paying financial planners a fee.

that is because the risk profiles of most people in singapore are about the same.. no need plans to be tailor-made for each individuals

 

[Ramseth]

Demanding for payment for financial advice is not wrong, but $200 is steep. He has to show his credentials why he is worth $200 per hour.

I just quote him. I'm neutral on this. To be fair to him, he was NTUC Income GM/CEO for 30 years and an Actuarial Fellow. He's certainly qualified to give advice on insurance and financial matters. He's certainly worth the rate he quoted. However, from the other side of equation, it's certainly not worth the while to seek so highly qualified and rated advice for people only with a few hundred dollars per month to save or only a few thousand dollars in a lump sum to invest. That'd be disproportionately expensive. Yes, do your own homework or join FiSCA for a modest fee instead of looking for customised advice from qualified professionals.

 

[longbow]

No mention that he charges $200.

 

[Ramseth]

No mention that he charges $200.

If you read the links, what he's saying is that he can't provide customised advice just any case-by-case. For those who want it, it'd cost S$200 per hour of his time. What I'm saying is, it's a fair rate for his qualification and experience. However, it's too high a rate for small savers and investors to afford. But he still takes the trouble to give free generalised advice on his websites, people should take the take the trouble to read up his sites. Those investing regularly can join FiSCA for a modest fee.

 

[zuoom]

Erm, lawyers charge more than that no?

Know of one that burn 400 odd an hour.

 

[Ramseth]

Erm, lawyers charge more than that no?

Know of one that burn 400 odd an hour.

The last that I've heard, Chia Ti Lik @ S$300 per hour, Davinder Singh SC @ S$1,000 per hour.

 

[silverfox@]

Time to buy US mkt symbol , LYG, IRE and C.

I am already on C @ 4.10.

 

[silverfox@]

I just quote him. I'm neutral on this. To be fair to him, he was NTUC Income GM/CEO for 30 years and an Actuarial Fellow. He's certainly qualified to give advice on insurance and financial matters. He's certainly worth the rate he quoted. However, from the other side of equation, it's certainly not worth the while to seek so highly qualified and rated advice for people only with a few hundred dollars per month to save or only a few thousand dollars in a lump sum to invest. That'd be disproportionately expensive. Yes, do your own homework or join FiSCA for a modest fee instead of looking for customised advice from qualified professionals.

Like what you said, really depends on the portfolio of the investor. If only have 50K to invest and pays him $200 per hour, then that would be a bit overkill. Doesn't make sense. But if have millions to invest, then we are talking about another planet.

However those who have a big portfolio to invest will not knock on his door and pay for $200 per hour. They will instead look for the capable ones who can increase their portfolio by a few folds.

In short, he could just want to put a high tag to deter people from asking him. :o Or saying, don't bother me pls.

 

[chuckyworld]

I am already on C @ 4.10.

C @ 4.11, LYG @ 3.86 and IRE @ 1.44.

 

[shelltox]

Just give me 2 cents and I would give you my 2cents worth of advice. Should be fair enough. Motor workshops would definitely sick his advice on accident claims.

 

[Coolsaint77]

You dont need to pay $200 an hour for someone to tell you to put your money in NTUC insurance plans.

Everybody knows there is only one financial advice that needs to be followed. Whatever / whenever Warren Buffet (for US) and Peter Lim (for SG) buys / sells... just follow.