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Financial Planner Plays A Significant Role In Achieving The Nation’s Aspiration

In line with the nation’s aspiration to transition from middle-income to high-income by increasing per capita income from US$6,700 to US$15,000 by 2020, the government intends to work with the private sector to bring in and nurture wealth managers and product specialists who are best able to serve the needs of not just the affluent few, but to the general public as well. Such effort aims to create a same level playing field with the developed nations and remain competitive in the market place.

In achieving such aspiration, The Economic Transition Program (ETP) is the driving force; it focuses on increasing the wealth of the country by increasing wages, in an inclusive and sustainable way. The financial services sector has been positioned in the ETP as the bedrock of our high-income economy aspirations. As such, financial planner is a very critical enabler in the financial services sector to meet long term demands for talent.

With high-income comes the need for the populace to make better informed financial choices and discipline in their personal finance. An increase income clearly does not auger well if there is a corresponding increase in bankruptcies as both are not mutually exclusive. Unquestionably, financial literacy is critical to our prosperity as individuals as well as a nation.