When Andy Peh's client welcomed a newborn with a congenital condition, the family faced the challenge of securing insurance coverage for their child. Under a traditional tied agency model, the outcome might have been a declined application. Instead, Peh was able to approach multiple insurers and eventually secured standard coverage with manageable premium loading. A result that gave the family crucial peace of mind during an already stressful time.

For Peh, a 10-year MDRT member with two Court of the Table qualifications, this flexibility to recommend solutions across providers is why he chose the Financial Advisory (FA) channel. When deciding which advisory platform to build his career on, he asked himself a fundamental question: If I were seeking comprehensive financial planning, who would I trust for the most balanced advice?

The answer led him to the FA channel. Its access to a broader range of insurers and product partners enables true portfolio diversification. But Peh also recognized that breadth alone is not enough. "Having access to multiple providers means little without the competence to apply it effectively," he explains. "The platform's strength must be matched with professional knowledge and sound advisory judgment."

"The one constant must always be the client's best interest," he adds. "Where some traditional models are tied to a single company's products, the FA channel gives me the independence and breadth to recommend the most suitable solutions across insurers, fund houses, and banks."

Addressing complex family needs

This independence proves particularly valuable given the complexity of modern family finances in Singapore. Peh's client base primarily consists of married couples with children, with roughly 80% comprising mid-level executives and management professionals who navigate multifaceted financial responsibilities.

"Many of my clients are busy balancing demanding careers with raising their children, which often means they have limited time to think deeply about their finances," Peh observes. "Yet their needs are complex. They must ensure adequate protection for their loved ones, save for their children's education, prepare for retirement, and simultaneously manage lifestyle aspirations such as buying property or building investment portfolios."

Rather than addressing these needs in isolation, Peh advocates for a holistic approach. "Holistic planning allows me to help clients prioritize what matters at each life stage," he shares. The process begins with establishing a foundation of risk management through adequate insurance coverage, then integrates investment strategies aligned with long-term goals while maintaining liquidity for education expenses and unexpected family events.

Flexibility becomes essential in delivering these comprehensive solutions, allowing Peh to navigate various client scenarios without being constrained by a single provider's limitations or product gaps.

Technology as an enabler

Building on this, Peh's firm leverages fintech innovations to amplify the advantages of the FA channel through its proprietary digital ecosystem.

The digital ecosystem integrates intelligent tools that enhance engagement and efficiency. Clients can track their investments, review portfolio performance, and identify gaps in their coverage through automated analysis features. A built-in reward system also encourages users to stay proactive in their financial journey. "This allows us to maintain meaningful engagement and help clients take small but consistent steps towards their long-term goals," Peh adds.

In volatile market conditions, this digital advantage becomes even more significant. "Our proprietary systems allow us to monitor and adapt client portfolios swiftly when markets shift — something that could be much harder to achieve under a tied model," Peh explains. The result is an ecosystem where technology does not replace the advisor but instead empowers them to deliver holistic, personalised advice with greater agility and clarity.

Yet Peh recognizes the double-edged nature of technological advancement. The rise of DIY financial platforms and robo-advisors presents both opportunities and challenges. "These solutions make investing and buying insurance more accessible, but they might also create a false sense of simplicity," he observes. "Many clients may believe they can self-direct their financial planning without realizing the gaps or risks that come with piecemeal decisions."

His strategy involves embracing technology while emphasizing human expertise. "We leverage digital platforms for portfolio tracking, analysis, and client engagement, which enhances transparency and efficiency. This allows me to spend less time on administration and more time on meaningful conversations with clients."

The irreplaceable human element

This emphasis on human connection reflects Peh's belief that technology, however sophisticated, cannot replace the advisor's role in understanding family dynamics and emotional needs. "Financial planning is not just about transactions. It is about integrating protection, wealth accumulation, and legacy planning into a coherent strategy that evolves with each life stage," he emphasizes.

"Technology can automate processes, but it cannot replicate the human dimension of empathy, discernment, and the ability to understand a family's unique circumstances," he continues. "While robo-advisers can offer speed, they cannot look into a client's eyes, sense their unspoken fears, and make intuitive recommendations that protect both their financial and emotional well-being."

Looking toward the industry's future, Peh anticipates that client-centric standards will become universal, regardless of platform. However, he believes the FA channel uniquely positions advisors to lead this transformation. "Being on the FA channel, I am better positioned to deliver that promise with independence, breadth of choice, and efficiency of execution," he states.

This positioning enables a fundamental shift in the advisor-client relationship. Rather than focusing on product sales, Peh's value proposition centers on partnership: "To stand alongside my clients with the confidence that I can offer the best solutions available, not just the ones I happen to have."

In a profession where trust is paramount and families’ financial security are at stake, this freedom to recommend across providers ensures that every solution Peh offers truly serves his clients' best interests, unmarred by institutional constraints or product limitations.

Contact: MDRTeditorial@teamlewis.com

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How the Financial Advisory channel gives this advisor the flexibility to meet different families’ unique needs