Bernard Lim

Will You Join Me for a Free Live Q&A Session Tomorrow? Hey Advisors, I’m hosting a free live Q&A session on December 20th at 7 PM (Singapore Time)—and I’d love for you to join me. This isn’t about theory or fluff; it’s about solving real challenges and giving you the tools to thrive in 2025. Here's what we'll focus on: ✅ How to confidently approach and succeed in the HNW market ✅ Practical tips to refine your strategies for bigger wins ✅ A step-by-step breakdown of the sales cycle for maximum impact ✅ Proven ways to handle tough sales objections effortlessly ✅ Answers to your most pressing questions and challenges right now No strings attached—just a session packed with actionable insights and strategies to help you close bigger cases, grow your business, and gain clarity for the year ahead. 🗓️ Date: December 20th, 2024 ⏰ Time: 7 PM Singapore Time ➡️ How to Register: https://lnkd.in/gXegYVZY Let’s spend this time together to share ideas, solve challenges, and elevate your journey as an advisor. I can’t wait to connect with you!

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☕️ Sunday morning readings on parenting parents & vulnerable clients in banks….. 👶 👵 After the terrible Twos, there were horrible Threes and now it seems there are nerve wrecking Seventies! 📰 I read half-amused half-worried about Yuen-C Tham’s story in The Straits Times this morning and could relate to the conundrum. ‼️ Bottom line is to choose our battles - Yuen-C clearly gave up on trying to control her dad’s parking space. 😬 For our daughter when she was 2 years’ old, it was not to fight at 6am about a tantrum over clothes and let her proudly go to preschool with 2 tops but no shorts or skirt over her undies and let public opinion sort it out. A few kids kids laughed at her and she never did it again. (Chillax, I did pack shorts and a skirt in her bag). 👴🏻 So yes, it is about connection & control and what to give up. It is about respect too. Yes, our parents are vulnerable but try to tell them straight in their face and you will get into trouble. I will not forget my CEO’s « black face » when we were trying to establish an age around 65 as one of the vulnerability indicators for our PB clients. 💸 Which brings me to the concept of Vulnerable Customers, not in the parking space, but in the banking space. It is old news but on 21 July 2024, Tan Ooi Boon wrote about «Treating Customers Fairly » and « Why banks should not push older FD customers to invest ». I was puzzled at the date… 2024! 🏦 The Monetary Authority of Singapore (MAS) released Fair Dealing Guidelines 15 years ago and Individual Accountability & Conduct Guidelines 4 years ago making the board and senior management responsible to deliver 5 outcomes as follows: 1️⃣ Customers have confidence that fair dealings is central to the FI’s corporate culture. 2️⃣ Product and services are suitable to the target customer segments. 3️⃣ Representatives are competent. 4️⃣ Clear, relevant & timely information is given to customers. 5️⃣ Complaints are treated independently, fairly & promptly. 😩The governance still does not seem to be in place in some financial institutions & controls are not picking up the right issues. 👉🏻As a director or senior manager, make sure fair dealings and conduct risk are being tabled at board meetings. This is called tone from the top. But also: 👊🏻 Make sure middle management is aware & KPIs are in place to inculcate the right culture. This is the tone from the middle. 🤓 Read the full guidelines below. https://lnkd.in/g_rRPXZC

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Many individuals may harbour big questions about Estate Planning but are unsure where to gain the answers and how it applies to them. 📌 How do I distribute my assets to my loved ones? 📌 Do I need a Will and Trust? 📌 What should I do if I'm worried that my family will contest my Will? To better deal with complications that could arise in the planning process, it is helpful to equip yourself with a broad understanding of what it involves and to encourage your families and relatives to be similarly informed. Connect with me now and I will be happy to shine a light on estate planning. 📝 Disclaimer: The content above is provided by the person or company mentioned. The information or service is not provided by or related to Manulife Financial Advisers Pte. Ltd. #EstatePlanning #FinancialConsultant #SummitPlanners

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When you think about your future, how far ahead do you plan? Perhaps you've considered what your life will look like in 10 years, but have you considered your later years? While retirement planning is common, people often focus on the early retirement years. However, your needs and lifestyle wishes can change drastically over retirement and could last decades. It’s just as important to think about how you'll spend your later years as those first years when you are still celebrating retirement. Planning for later-life financial security means being proactive. The decisions you make in early retirement, and even before that, can profoundly impact your later years. We've put a full guide together for Later Life Care, read it here - https://lnkd.in/eAnv4x8i

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When you think about your future, how far ahead do you plan? Perhaps you've considered what your life will look like in 10 years, but have you considered your later years? While retirement planning is common, people often focus on the early retirement years. However, your needs and lifestyle wishes can change drastically over retirement and could last decades. It’s just as important to think about how you'll spend your later years as those first years when you are still celebrating retirement. Planning for later-life financial security means being proactive. The decisions you make in early retirement, and even before that, can profoundly impact your later years. We've put a full guide together for Later Life Care, read it here - https://lnkd.in/egq-9GWg

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It's an uncomfortable truth but, much like taxes, death is an inevitable part of life. Group Life Insurance or 'Death In Service' is a way to offer financial security to your employees' families should the worst occur while they're employed at your company. Director Ryan Oates shares the FOUR CRUCIAL FACTORS to consider if you're thinking of offering this benefit.  #grouplifeinsurance #employeebenefits https://lnkd.in/e764_nB5

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[Legacy Planning] Over the weekend, I met an elderly couple in their late 60s who expressed a heartfelt desire to leave a meaningful legacy to “help their children”. Our conversation inevitably turned to the exorbitant property prices today, And we wondered how the next generation would navigate the ever-rising cost of living. Their intention is for their inheritance to ease some of the financial burdens their children may face. As a parent of a two-year-old, I share the same concerns. I often wonder how my son will afford an HDB flat when it’s his turn to purchase one. Like many parents, I also want to help him financially. But this raises an important question: is legacy purely about money? Is it only about gifting a significant sum as an inheritance? My answer is no. As human beings, our legacy can and should go beyond wealth. How about leaving a legacy now? How about imparting the skills and values that empower the next generation to thrive on their own, So they become less dependent on inheritance? Here are some essential skills we can teach our children: 1️⃣ Financial Literacy – Budgeting skills and investment knowledge to make informed decisions about money. 2️⃣ Income Generation – Cultivating an entrepreneurial mindset and negotiation skills to create opportunities. 3️⃣ Self-Discipline – Practicing delayed gratification to prioritize long-term success over short-term desires. 4️⃣ Philanthropy – Learning to give back to society and make their own impact, creating a meaningful legacy. 5️⃣ Psychological Resilience – Developing a healthy money mindset and the ability to bounce back from setbacks. Instead of merely giving them fish, let’s teach them how to fish. By equipping them with these skills, we foster independence, resilience, and the ability to build their own financial success. In this way, your inheritance becomes a bonus - not a crutch.

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💡 A good business succession plan can protect the best interests of the family, minimise risks that can endanger business continuation, as well as provide the next generation with opportunities to realise greater potential. ‍‍‍‍‍‍ If you are a business owner who wishes to see the fruits of your labour flourish into the future, do consider creating a comprehensive Estate Plan. Let me show you how a Trust can be part of this plan, helping to manage and consolidate your assets for smooth succession. #SuccessionPlanning #BusinessContinuity #SummitPlannersCluster

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A good business succession plan can protect the best interests of the family, minimise risks that can endanger business continuation, as well as provide the next generation with opportunities to realise greater potential. ‍‍‍‍‍‍ If you are a business owner who wishes to see the fruits of your labour flourish into the future, do consider creating a comprehensive Estate Plan. Let me show you how a Trust can be part of this plan, helping to manage and consolidate your assets for a smooth succession. #KeymanInsurance #BusinessOwners #SummitPlannersCluster

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Following the 𝐂𝐏𝐅 𝐜𝐡𝐚𝐧𝐠𝐞𝐬 announced during 𝐁𝐮𝐝𝐠𝐞𝐭 𝟐𝟎𝟐𝟒, I’ve been getting questions from clients and friends about how their retirement will be affected. These changes which include 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐑𝐀 𝐥𝐢𝐦𝐢𝐭 as well as 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐨𝐟 𝐒𝐀 𝐟𝐨𝐫 𝐭𝐡𝐨𝐬𝐞 𝐚𝐠𝐞𝐝 𝟓𝟓 𝐚𝐧𝐝 𝐚𝐛𝐨𝐯𝐞 would have an impact on retirement planning. Even though we might not have control over CPF policy changes, there are still actions we can take to our advantage! 💪. To shed some light on this topic, we will be having a 𝐂𝐏𝐅 𝐔𝐩𝐝𝐚𝐭𝐞𝐬' 𝟐𝟒 𝐬𝐞𝐦𝐢𝐧𝐚𝐫 𝐯𝐢𝐚 𝐙𝐨𝐨𝐦, where we'll review the critical updates to the CPF system and how we can 𝐨𝐩𝐭𝐢𝐦𝐢𝐳𝐞 𝐭𝐡𝐞 𝐯𝐚𝐫𝐢𝐨𝐮𝐬 𝐂𝐏𝐅 𝐬𝐜𝐡𝐞𝐦𝐞𝐬 𝐭𝐨 🚀 𝐛𝐨𝐨𝐬𝐭 𝐨𝐮𝐫 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐚𝐝𝐞𝐪𝐮𝐚𝐜𝐲. Date: 18 July 2024 Time: 7-8:30pm 𝐃𝐨 𝐥𝐞𝐭 𝐦𝐞 𝐤𝐧𝐨𝐰 𝐢𝐟 𝐲𝐨𝐮 𝐨𝐫 𝐲𝐨𝐮𝐫 𝐟𝐫𝐢𝐞𝐧𝐝𝐬 𝐦𝐢𝐠𝐡𝐭 𝐛𝐞 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝! FYI: Here’s a summary from Channel News Asia about the CPF changes that were announced https://lnkd.in/gxkwJUe6 #BernardAssured #chieffinancialoptimizer #goodthingsmustshare

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🎁What are some of your 𝗳𝗮𝘃𝗼𝘂𝗿𝗶𝘁𝗲 𝗴𝗶𝗳𝘁𝘀?🎁 Recently, I visited my client's place to do a review of the family's finances.  🍽️Since she was cooking for her 4 young kids, she asked if I would like a share and join them for dinner.  😋I gladly accepted the treat! 👍It tastes so good to enjoy a warm cozy dinner with those you care. Over the years, we have all receive a fair share of gifts.  ⭐I always like personalised gifts specially prepared by the givers. ⭐It always warm my heart to know that the gift is prepared with love and to show appreciation of me. There is so much for me to learn from my experience. As a financial consultant, we often gift our clients. 🙅‍♂️However, for the longest period of time, I always gave very typical gifts during special occasions, just like every other financial consultant. You can almost guess that you will  👉receive a card or a cake on your birthday. 👉card or red packets during Chinese New Year 👉card for Christmas 👉mooncakes during Mid-Autumn Festival For Mid-Autumn Festival, my top producer friend gave something very different to her clients. ✅Instead of mooncakes and teas, she gave lanterns to her clients with kids. ✅Just from her gift, she easily stood out among her peers. Novelty of gifts can impress.  ❌However, if you receive the same gift all the time,  ❌end up with plenty of them without a space to store them,  ❌and no chance to use them, Is this present really better than a specially curated gift from a loved one? What is your most memorable gift?

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🌟 Unlocking Your CPF's Potential: Understanding the CPF Investment Scheme 🌟 Did you know that your Central Provident Fund (CPF) contributions can do more than just secure your retirement? With the CPF Investment Scheme (CPFIS), you have the opportunity to grow your savings further! 💡 Whether you’re looking to invest in stocks, bonds, or unit trusts, the CPFIS allows you to diversify your portfolio and live a comfortable retirement! 📈✨ Informed investing is key to maximising your CPF. As you consider this option, ensure you do your research, understand the risks, and choose investments that align with your long-term goals. Curious to learn more? Keep following for tips on making the most of your CPF and building a secure financial future! 💪💰 #CPF #CPFOA #CPFSA #CPFIS #InvestmentSG #LongTermInvestment

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In the The Straits Times today. Yes Income Insurance Limited has a social mission but reading between the lines, it seems like that’s a mission it is finding increasingly hard to fulfil. I’ve posted about my friend’s case where payout was denied for one side of the mastectomy and reconstruction surgery when she found lumps in both breasts, one of which had turned cancerous. Her mother and sisters are all breast cancer survivors. I’ve heard apocryphally that this insurer is particularly tight fisted when it comes to admitting claims. The reason for this may be financial and today’s positive business performance does not mean that it has the wherewithal to operate effectively as a small player in an increasingly global sector. Singapore’s greying population will add more strain to the situation. Older people have more medical needs and may already be drawing on finite savings. The industry as a whole may need some revamping, starting with the ability to get insurance coverage even for the deductible portions of insurance claims. This has removed the moral hazard of trying more speculative treatments (we might think twice if we have to co-pay). There may be other changes to be considered eg universal coverage so that employees do not lose insurance when changing jobs. There will be more fees to pay. It’s all very well to have a social mission if the insurer can afford it. That’s the question I think needs an answer.

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