Hi fellow practitioners and friends,
It’s an honour to serve a second term as IFPAS President 2017/2018. Thank you to all, especially the Executive Council (Exco), for putting your trust and confidence in my leadership. We have been through much in the last few years as a team. Working on the progress made over the years, these are what the team is looking to build up this year and beyond:
On the Social Engagement front, the community at large had good experience with the MediShield Life project. That is a good base on which IFPAS will continue to work on to bring our financial expertise to improve financial literacy among all, including the under privileged. Through these engagements, IFPAS has established good working relationship with various industry and community partners. This forms our Strategic Partnerships for the greater works to come on various fronts, on top of deepening and broadening ourcommunity reach and social engagement.
To further advance our social reach, we are setting up the IFPAS Love Fund, that provides members a channel to bless the underprivileged in Singapore financially and gets to enjoy tax deductions on their contributions.
In relation to deepening our industry Skills, in 2016, we started a series of technical workshops for members to broaden their general knowledge and deepen their understanding in niche planning fields like estate planning. The masterclass series, whichinvolves subject matter experts from within the industry and other relevant professionals,is to ensure our members continue to add value to increasing knowledgeable clients.
This year, we set our sights beyond local experts and industry specific knowledge, to the bigger world stage of wealth creation.
As financial practitioners, it is important to understand the many ways our clients is creating or can create wealth. This gives us more credibility as we add value providing an over-arching financial blue-print for this group of clients, helping them enhance the cycle of wealth creation beyond this current generation. To this end, we are supporting the inaugural World Wealth Creation Conference (WWCC).
In the Self-regulation front, we are thankful for the areas IFPAS has been able to engage the various authorities in, particularly in the area of policy formulation that affects the financial practitioners, and fair industry regulations for financial practitioners. This is not to be taken for granted, and the IFPAS STAR team will stay engaged with the authorities for the betterment of the common good.
The future is for us to be a credible and respected profession, as what we do is in the core of every family and business – providing the peace of mind to individuals and business owners regardless of race, language or industry. Deep skills development, social engagement and fair regulations are integral to the shaping of our practice. This multi-prong approach must be executed strategically in view of the eventual digitalisation of the industry. Going on-line is inevitable. IFPAS is taking steps, through the various initiatives mentioned above and more, to ensure our practitioners stay relevant or even ahead of the curve in changing times.
We will continue to strive as frontrunners of the industry, for the benefit of all financial practitioners. We would need you to be involved to carry it through – for now and for the future! No one is too small to be counted, it only takes a drop of water to create a ripple in the lake. Come and be a part of the change IFPAS is pushing through in the industry. Your service can make a significant difference in your life and in the lives of those we serve.
Thank you & may we all have a blessed year ahead!
Executive Council 2017/18