The Association of Financial Advisers (Singapore) fully supports the Basic Financial Planning Guide initiative jointly created by the Monetary Authority of Singapore and various Associations. It is our hope, vision and commitment for our Association Members and Representatives to adopt these principles in their financial planning and advisory process for the betterment of the general public’s financial planning efforts and wellbeing. Together in partnership with fellow industry practitioners, we hope to raise financial literacy standards to greater heights!
The Monetary Authority of Singapore (MAS) and MoneySense, in collaboration with CPF Board and finance industry associations, have developed a Basic Financial Planning Guide to help Singaporeans take simple steps to enhance their financial well-being.
With so many tips on financial planning out there, it can be hard to ascertain if you are on the right track, especially if you do not have a financial adviser.
To help Singaporeans proactively identify and plug gaps in their financial planning, MAS and MoneySense, together with the CPF Board, Association of Banks in Singapore, Association of Financial Advisers (Singapore) and Life Insurance Association, have developed a Basic Financial Planning Guide with rules of thumb to support individuals taking proactive steps to address their savings, insurance, and investment needs.
From January 2024, this Guide will be available in six customised formats to better match the specific needs of individuals at different life stages.
Append herewith the link with both the press release by MAS as well as the relevant information on MoneySense website for your reference
https://www.moneysense.gov.sg/articles/2023/9/basic-financial-planning