Top 3 Financial Advisors and Best Financial Planners In Singapore in 2024

The right thing to do if you wish to have your finances in order is to work with a financial advisor or a financial planner. These professionals provide tailored services to help you reach your financial goals. The dilemma however lies in making the right choice. 

Before choosing a financial planner or advisor, you need to carefully assess their credibility and expertise, services offered, alignment with your needs, and testimonials or reviews from past clients. To ease the selection process for you, this article will be exploring the top 3 financial planners in Singapore and the results they have had.

But before that, let's look at pressing questions that affect people's choices of a financial planner or advisor to work with. 

Who is a Financial Advisor Singapore?

It's one thing to need a service and another to understand the professional that is best at handling your needs. What do financial advisors really do? A financial advisor in Singapore helps individuals, families, or organisations to achieve their financial goals like saving and investing, tax planning, and more. 

This professional can be an individual financial advisor or a part of a financial advisory firm. A credible financial advisor in Singapore must be licensed  by the Monetary Authority of Singapore (MAS). Some financial advisors may have specific expertise in certain areas while others may offer general services. 

Who is a Financial Planner In Singapore?

Financial advisors and financial planners are often mistaken to be the same but service scope differs. Financial planners In Singapore help people to design tailored financial plans for the fulfilment of their goals. Unlike financial advisors, financial planners take a more comprehensive, meticulous, and specialised approach. 

Reliable financial planners in Singapore like TallRock Capital are licensed and regulated by the Monetary Authority of Singapore (MAS) under the Financial Advisers Act (FAA) or the Financial Advisers Regulations (FAR). 

Is It Better To Have a Financial Advisor or Financial Planner? 

Which is better to have: a financial advisor or a financial planner? The choice of which to go with boils down to your specific need. On average, financial advisors focus on helping their clients grow their wealth and investment portfolio. 

Financial planners, on the other hand, take the financial wellness of their clients more steps forward. They will assess the finest details of your financial life to help you make the best of financial choices. 

Differences Between a Financial Advisor, An Investment Advisor and a Financial Consultant In Singapore

Aside from the mix up between financial advisors and financial planners, a lot of people also confuse financial advisors, investment advisors, and financial consultants. 

Here are the main differences between these three professionals in Singapore:

	Financial Advisors	Investment Advisors	Financial Consultants
1.	Design financial plans, manage their client's finances, and help them hit financial goals.	Create personalised investment plans and manage their client's investment portfolios.	Provide comprehensive solutions for optimum financial health.
2.	Licensed by the Monetary Authority of Singapore (MAS)	Regulated under the Securities and Futures Act (SFA) and must be licensed by the MAS	Licensed by both the Financial Advisers Act (FAA) and the Securities and Futures Act (SFA),
3.	Payment is mostly commission-based.	Fee structure varies with service offered.	Fee structure varies.

It should be noted that these roles may interlap and some of these services are offered comprehensively by financial planners. 

Is a Financial Planner Better Than a Financial Advisor?

In general, a financial planner can offer financial advisory services but a financial advisor cannot offer financial planning services. A financial planner is like a specialist. The scope of services offered by financial advisors are broad while that of a financial planner can be seen as more in-depth. 

Financial planning is a subcategory of financial advisory. It is impossible to make conclusions on which is better as both roles have their strengths. However, financial planners are the go-to if tailored financial services are needed. 

Typically, financial planners provide services like budgeting, saving, investing, retirement planning, tax planning, risk management, and more. Financial advisors on the other hand may stick to generalised services or focus on an area like investment advisory. 

The question of which is better is subjective and depends upon your financial situation. 

Do I Need a Financial Planner? 

Knowing what you need a financial planner for will help you stay on track and assess the progress while working with one. To know if you need a financial planner, analyse your financial situation, the luxury of time you have, knowledge available to you, and your set goals. 

If you have multiple streams of income, a plethora of investments, tax considerations, and specific finance goals, professional insights will be very useful. A professional will also provide an objective perspective and hold you accountable to your set goals. 

Top 3 Financial Planners/Financial Advisors In Singapore

Now that you have a clear idea of what you need a financial planner for, let's look at the 3 best financial planners in Singapore. These three financial planners were selected after a close evaluation of their works and the reviews left by their clients. 

Unicorn Financial Solutions 

Unicorn offers reliable financial management solutions. Services offered by Unicorn include financial advisory, investment advisory, and securities advisory. They also function as an investment broker and fund management company. 

Unicorn Financial solutions is a financial advisory firm with a few select services across investments and securities. Their services are limited and people in need of all round solutions may not have all their needs catered for. 

Contact Information:

Website: https://www.unicorn.sg/

Phone number: +65 6887 3885

Synergy Financial Advisers

Synergy Financial Advisors offer tailored financial services with a focus on investment. They help their clients to manage their funds and also offer products like health and disability insurance. Their target audience are individuals and businesses. 

However, just like many financial advisory firms, their services are limited and not comprehensive. 

Contact Information:

Website: https://synergy.com.sg/

Phone number: +65 6654 1888

Address: 229 Mountbatten Road

#03-30 Mountbatten Square

Singapore 398007

TallRock Capital

TallRock Capital is a specialised financial planning firm that offers personalised and comprehensive services to meet the needs of their clients. They provide wealth management, insurance, and investment planning services along with all-round financial planning services depending on the unique needs of the client. 

The solutions offered are flexible and clients who have patronised TallRock Capital testify to their client-first approach. Choosing TallRock Capital means working with an intuitive financial planning service whose mission is to bring you to safety and satisfaction. 

Contact Information:

Website: https://www.tallrockcapital.com/

Phone number: +65 6817 4517

Address: 50 Raffles Place, Singapore Land Tower, 19th Floor Singapore 048623

Conclusion 

Financial advisors and financial planners will help you sort your finances and make the most of your money. This can be saving and investing advice, tax management, portfolio management, or more. The top three financial advisory firms and planning firms above can offer you the best financial services in Singapore.