Some sticks are meant to stay with you for life – like a trusty hiking stick that supports you through every climb, descent and unexpected detour. A great financial adviser can be just like that: a steady hand guiding you through milestones, market swings and major life transitions. However, not every stick fits every journey, and the same goes for financial advisers. That’s why it’s important to ensure your adviser meets your needs, goals and communication style, and that their wealth accumulation strategies are delivering the results you want. Of course, it's perfectly acceptable to let go if they’re not. Finding the adviser that truly fits can make all the difference in the road ahead. 

I’m not an adviser, but working in financial services has taught me the importance of finding one who’s not just a fit on paper. Credentials and personality matter – but so does the ability to go the distance with you. The right adviser has the foresight, agility and depth to help you secure long-term financial success, not just short-term fixes. That’s why it’s critical to know what truly sets a great adviser apart – especially if you’re an affluent individual with complex needs. Not every adviser is equipped to navigate the unique financial landscape you face. Choosing the wrong one could mean missed opportunities, costly missteps or even a plan that doesn’t grow with you.

Why more are turning to financial advisers

When you’re at the helm of a thriving third-generation family business, scaling heights in your career or juggling a growing portfolio of responsibilities (or maybe all three at the same time), the last thing you want is to feel uncertain about your finances. Yet even the most accomplished individuals can fall short when it comes to managing their wealth. That’s why more high-income individuals are turning to professionals for financial guidance. A financial adviser representative can offer a personalised wealth strategy built around your affluent lifestyle.

Strict industry standards – including mandatory qualifications and licensing by the Monetary Authority of Singapore – and a more financially savvy public have made engaging a financial adviser not just acceptable, but a smart, even expected, move. According to Singlife’s research, 49% of Singapore’s population consult a financial adviser, and this number rises to 52% for individuals earning more than $20,000 monthly.¹ And with good reason: affluence brings complexity, where finances are concerned. 

Singlife’s Financial Freedom Index 2024 revealed that 19% of wealthy individuals have property or real estate investments.² This not only means managing multiple income streams but also navigating loan obligations, capital gains considerations, market risks, and the complexities of inheritance and estate equalisation across family members. 

Additionally, 21% of Singaporeans plan to retire overseas³ – a goal that introduces new financial planning layers, such as cross-border tax exposure, currency fluctuations and international estate considerations.

A financial adviser can help make sense of these complexities. But here’s the thing: it’s not just about having an adviser; it’s about ensuring he or she is the best fit for your current position in life – and where you want to be.

Unpacking the complex world of financial planning for HNWIs

“High-net-worth individuals (HNWI) require comprehensive financial planning due to their multiple income sources and more sophisticated investment portfolio. Beyond wealth accumulation, HNWIs also require effective estate planning to safeguard and transfer wealth to heirs,” says Justin Ho, CEO, Singlife Financial Advisers. “Equally important to them is effective tax planning. A good financial adviser will be able to partner and journey with the HNWI to help him or her organise and strategise all the above.”

But for Justin, the importance of planning goes far beyond numbers and structures.

“I feel very strongly about financial planning, having personally witnessed how life-changing insurance can be,” he shares. “When my late mother was first diagnosed with cancer during my undergraduate days, the cancer insurance policy she had taken up just a year earlier allowed her to get the medical care she needed. It covered a second medical opinion and review that led to a subsequent surgery to remove residual cancer cells that were not removed in an earlier surgery. Her decision to buy that plan, which was her very first insurance policy, didn’t just save her life – it gave everyone around her peace of mind,” he says.

What HNWIs need in a financial adviser

Discover the traits that distinguish a top-tier adviser from the rest. Here are five things to look out for:

1. They should evolve with you

The financial strategies that served you in your early career may no longer be relevant as your wealth grows and your needs become more sophisticated. The adviser you knew back then, who was more focused on basic insurance or off-the-shelf investment tools which worked just fine, must be able to pivot as you progress to juggling multi-property portfolios, planning for succession or navigating international tax regimes. In other words, their expertise needs to keep pace with your evolution.

An effective adviser anticipates, adapts and grows with you. They serve as a strategic partner across the full arc of wealth: protection, accumulation, preservation, and ultimately, legacy. While they should be a constant presence throughout your journey, it’s during life’s inflection points when you have to make pivotal decisions that their true value is revealed. Transitions such as a major liquidity event, an unexpected inheritance, a family health crisis, divorce or the division of a family business are all emotionally charged and time-sensitive. They require more than technical know-how; they call for seasoned judgment and presence of mind. Your adviser should be able to deliver tangible value during these moments.

2. They should not treat you like every other client

Your financial situation isn’t standard, so your adviser’s approach shouldn’t be either. If you’re receiving generic advice or templated solutions, it’s a red flag. High-net-worth individuals expect – and deserve – tailored strategies that reflect their unique goals, risk appetite, family dynamics and lifestyle. 

It’s not just about the numbers or having a healthy portfolio. Do you feel valued? Top-calibre advisers and advisory firms specialising in wealth management for the affluent often provide access to bespoke privileges that align with their customers’ lifestyle and expectations – think preferred rates for elite experiences such as yachting expeditions, medical concierge services or legal consultations, and expedited policy applications and services.

3. Your portfolio should ride the tide of economic growth

Market volatility is part of investing – but consistent underperformance shouldn’t be the norm. If the markets are up, your portfolio should reflect that momentum. If it doesn’t, it may be time to ask why.

Say, for example, the S&P 500 returned over 20% in the past year, but your investments barely shifted. Is your adviser taking a too-conservative stance without aligning the investment strategy to your goals? 

A good adviser doesn’t just manage risk – they make your money work harder, transparently and with sound justification. Sure, market declines happen, but they should be able to clearly explain performance and adapt to changing conditions.

4. The relationship feels personal, not transactional

A meaningful adviser-client relationship goes far beyond quarterly check-ins or product recommendations. It’s built on trust, transparency, deep listening and a shared commitment to your unique goals. If your adviser only reaches out when there’s something to sell, or if conversations skim the surface – focusing solely on age, income and asset size, you’re not getting the engagement you deserve.

A true financial partner should be invested in you. They’ll take the time to understand your current life stage, short-term needs and long-term aspirations. They’ll ask the right questions, listen actively and dig deep to uncover what drives your decisions – your family, passions, fears and hopes for the future. From that insight, they can craft a tailored, step-by-step plan to help you move forward with purpose, whether your goal is to retire early, support a charitable cause, invest sustainably or leave a meaningful legacy. With that level of personalisation, your adviser is more than just a salesperson – he or she is like a coach and champion for your financial goals.

5. There is open dialogue that emphasises clarity and respect

A skilled adviser will encourage open dialogue. They’ll welcome questions – all 1,001 of them – demystify the fine print in terms that makes sense to you and ensure you’re always in the know. They should be able to empower you with financial confidence, not leave you feeling overwhelmed or dismissed. If your adviser is unafraid to tackle tough questions, uses jargon-free vocabulary and offers clear explanations that enlighten you, he or she is the one to stick with. Being able to communicate on your level, with both clarity and respect, is of prime importance in a client-adviser relationship.

On the other hand, when communication breaks down, confidence follows. You might start feeling unsure or start second-guessing advice or you may avoid financial discussions altogether. That’s a symptom of a breakdown in trust or clarity.

Start with a plan that’s built to last

Before choosing an adviser, it’s worth asking: what does a well-constructed financial plan look like? For HNWIs, the stakes are higher, which is why a clear, well-structured plan is critical.

Justin says it should be both practical and personal. It’s a mindset that guides his approach to money and life, and one he shares with clients and successful individuals alike.

“When we set out to do something, let’s do it well. A proper financial plan should be both comprehensive and diversified – covering risk management, wealth accumulation, tax efficiency and estate planning, while drawing from a mix of equities, real estate, bonds and alternative investments,” he says.

So, rather than chasing short-term wins or focusing on a single asset class, a strong plan should be designed to weather change, adapt over time and support the goals that matter most. 

Conclusion

Like any relationship, a financial partnership should grow, respond to changes and continue to bring value as life evolves. Ideally, your financial adviser should tick all the five boxes above. After all, your wealth deserves the same strategic attention and care that you apply to everything else in your life.

For me, the right adviser is far more than a convincing salesperson. They’re a partner in helping you live the life you envision. And with that in place, you’ll have the financial freedom to pursue your passion without compromise.

Choosing a financial adviser is a personal choice that’s critical for your long-term financial success. At Singlife, we have a network of trusted financial professionals who are committed to delivering the best service to the most discerning individuals.