License – You want to make sure that the company has the necessary licence for you to conduct your business. For example, if you want to conduct unit trust business with multiple unit trust companies, you want to make sure that the company has CUTA license
Experience – You want to confirm if the company is experienced in insurance business, investment business, estate planning or fee-charging financial planning. Ask them to show evidence for the strength that they claim. For example, if the company claims to have experience in fee-charging financial planning, ask them how many clients have paid fee for the service.
Support – You want to make sure if the company only has staff to give you basic support on compliance and training or the company has a big staff team to also support your business running as follows:
– Latest industry product update
– Preparation of insurance sales illustration
– Preparation of insurance proposal comparison table
– Financial Plan (holistic or modular) preparation
– Investment research support
– Insurance research support
– Joint meeting by mentors
– Prospect’s current unit trust portfolio analysis
– Prepare portfolio rebalancing/ restructuring calculation & paperwork
– Investment/ UT online analytical software
– Notice to take profit and reinvest profit
– Coaching support during market downturn
– Coaching support on various investment products
Established – The company which has been founded and making profit for long time gives you security and certainty of business as compared to newly founded companies (less than 5 years)
Business philosophy – Some companies emphasize on fast transaction and short-term profit and some companies is willing to invest into long term client relationship and profit.
Revenue sharing – Most companies shares between 60 – 80% of revenue with a licensed advisor. The companies who share 60% generally offer strong and comprehensive support. The companies who share 80% generally offer less support.