MoneyOwl partners with NTUC
Partnership will subsidise 75% of MoneyOwl’s Comprehensive Financial Planning (CFP) service fee for NTUC Union members.
NTUC social enterprise MoneyOwl, the award-winning trusted financial adviser and fund management company, today announced a partnership with the NTUC for a 75 per cent discount on MoneyOwl’s Comprehensive Financial Planning (CFP) service fee for NTUC Union members from 1 June 2021 to 31 December 2023.
There is a need among Singaporeans for better financial planning. The latest Money Relationship Monitor report shows that 41 per cent of Singaporeans do not have a financial plan. Many also struggle with the basics of saving, citing as top reasons the high costs of living (38 per cent), lack of discipline when spending money (37 per cent) and inability to balance between expenses and income (28 per cent).
MoneyOwl’s Comprehensive Financial Planning service sets out a holistic and unbiased plan that is separate from product sales, and which integrates CPF LIFE into retirement income planning using the projection capabilities of its proprietary MoneyOwl CPF Analyser. Users start with a simple fact-finding journey accessed at their convenience through a digital comprehensive financial planning platform, which was the first to be launched in Singapore in 2020. Consultation sessions are conducted face-to-face (or via video conference) by MoneyOwl’s fully salaried Client Advisers, all of whom are on the internationally recognised AWPcm /CFP® programme.
According to MoneyOwl’s survey, 4 out of 5 CFP users understand their financial position better and saw an improvement in how they make better money decisions. Through the service, MoneyOwl clients learn about their current financial health and how they can improve their cash flow, protect their assets and income, grow their wealth and optimise their CPF for retirement. For those with children, the plan also addresses how they can fund their children’s education, and eventually pass assets efficiently to their heirs.
“Many of our clients tell us that they avoid “free” financial planning offered by other advisers because they feel that it is just a sweet wrapper for commission-incentivised sales. There is also a misconception that fee-based advice is unaffordable and only for affluent people who have a lot to invest, or that it was very difficult to do.” said Ms Chuin Ting Weber, Chief Executive and Chief Investment Officer of MoneyOwl.
For more information, please visit www.moneyowl.com.sg.
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