Hashtag

Prudential Financial Advisers drives business growth with more than 800 representatives

The company expects to grow its representatives’ headcount to 1,500 by end of 2025 to support growing customer needs

SINGAPORE - Media OutReach Newswire - 22 July 2024 - Since its official launch in April 2023, Prudential Financial Advisers Singapore ("PFA"), Prudential Singapore's ("Prudential") dedicated financial advisory arm, has expanded to over 800 PFA representatives.

The company is on track to have a 1,000-strong team of PFA representatives by the end of 2024 and aims to grow to 1,500 by the end of 2025.

PFA was set up to provide customers with more holistic professional advisory services amid the backdrop of rising longevity and increasing wealth management needs of the growing high net worth (HNW) segment in Singapore. The country is a growing wealth hub that is attracting an increasing number of ultra wealthy individuals. There were 333,204 millionaires in 2023, and this number is expected to increase by 13 per cent to 375,725 in 2028. Median wealth per Singapore adult was US$104,959 in 2023, up from US$99,488 in 2022.[1]

To attract more professionals to a career as a financial representative and grow its team of PFA representatives, Prudential enhanced its Management Associate Programme (MAP) earlier this year to better support fresh university or polytechnic graduates and young professionals in building their career as financial representatives.[2] It is also looking to attract mid-career professionals from the wealth sector, as well as those who have taken a break from the workforce and are looking for a new challenge.

Mr Ben Tan, Chief Distribution Officer and Chief Corporate Development Officer of Prudential Singapore, said: "Prudential remains committed to growing our financial advisory business and distribution network to serve more customers with diverse financial needs and goals. We will continually enhance our offerings and services to meet the evolving needs of Singaporeans who are living longer and preparing for a secure future."

Mr Jeff Ang, CEO of Prudential Financial Advisers Singapore, said: "We are proud of the milestones that Prudential Financial Advisers Singapore (PFA) has achieved in its first year of operation, with the support of our dedicated team of more than 800 PFA representatives and our corporate staff. We continue to grow our team so that we can better serve the needs of the mass affluent and high net worth customers with holistic financial planning and a broad range of insurance and wealth solutions from Prudential and our more than 10 product providers."

Mr Ang was appointed the CEO of PFA on 1 July 2024. He joined Prudential in 2018 as Head of Enterprise Business and was subsequently appointed Deputy CEO of PFA. He succeeds Mr Bernard Chai who is retiring at the end of the year. Mr Chai will remain at PFA as an advisor till then to ensure a smooth transition.

The launch of PFA marked a significant step for Prudential and added to its distribution ecosystem. The firm offers a wide range of insurance products and wealth solutions from more than 10 product providers. This includes general insurance such as travel insurance, motor insurance, and wealth solutions such as unit trusts and index universal life insurance, on top of Prudential's core offerings in life insurance, health insurance, savings plans, retirement plans, and group insurance. Customers can also tap on the complementary solutions and auxiliary services including estate planning, family office and tax advisory, provided by PFA product providers.

For more information on Prudential Financial Advisers, please visit: https://www.prudentialfa.com.sg/



[2] For more information on Prudential Singapore's Management Associate Programme for financial representatives, please refer to: https://www.prudential.com.sg/about/newsroom/press-release/2024/prudential-ramps-up-hiring

Hashtag: #PrudentialSingapore





The issuer is solely responsible for the content of this announcement.

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country's citizens for 93 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor's, with S$49.4 billion funds under management as at 31 December 2022. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,200 financial representatives.

About Prudential Financial Advisers Singapore
Prudential Financial Advisers Singapore is the financial advisory arm of Prudential Singapore, one of Singapore's leading life insurance companies. The company offers customers a range of insurance products and wealth advisory services. Prudential Financial Advisers Singapore is licensed and regulated by the Monetary Authority of Singapore (MAS).

Business News

HKTDC Hong Kong International Lighting Fair (Autumn Edition) and Hong Kong International Outdoor and Tech Light Expo will open this October

The upgraded Hall of Connected Lighting spotlights lighting designs, innovations and solutions HONG KONG SAR - Media OutReach Newswire - 7 October 2024 - Fair websites Hong Kong International Lig...

Hashtag.net.au - avatar Hashtag.net.au

Season Opener – CBRE Lantau 2 Peaks: Chan overcomes leg cramps to take overall Mens while Zhu says the watermelon saved her and helped with her victory

HONG KONG SAR - Media OutReach Newswire - 7 October 2024 – Sometimes in October Hong Kong gets typhoons and thunderstorms, while on rare occasions at the season opener CBRE Lantau 2 Peaks there is bl...

Hashtag.net.au - avatar Hashtag.net.au

Novautek Launches Autonomous Driving Robot to Address Pain Points in Traditional Industries, exhibiting at Inno4life - Creative Culture and Technology Innovation Exhibition

HONG KONG SAR - EQS Newswire - 7 October 2024 - Novautek Autonomous Driving Limited ("Novautek"), specializing in artificial intelligence and autonomous driving technology innovation, showcased a ser...

Hashtag.net.au - avatar Hashtag.net.au

World Economic Forum welcomes "SARABURI SANDBOX LOW CARBON CITY" a new member of Transitioning Industrial Clusters Initiative, accelerating Thailand’s green energy transition

BANGKOK, THAILAND - Media OutReach Newswire - 7 October 2024 - Thai Cement Manufacturers Association (TCMA) reveals another step forward of "SARABURI SANDBOX LOW CARBON CITY" to the World Economic Fo...

Hashtag.net.au - avatar Hashtag.net.au

ICONSIAM Wins Asia’s Most Innovative Shopping Experience Award from Cathay Members' Choice Awards 2024

Reinforcing Its Status as the No. 1 Global Destination for Tourists Worldwide BANGKOK, THAILAND - Media OutReach Newswire - 7 October 2024 - ICONSIAM, the global landmark along the Chao Phraya River ...

Hashtag.net.au - avatar Hashtag.net.au

TDCX Malaysia Recognized as Frost & Sullivan’s 2024 Malaysian Customer Experience Management Services Company of the Year Award

SINGAPORE - Media OutReach Newswire - 8 October 2024 - TDCX Malaysia, a company in the TDCX Group, an award-winning digital customer experience (CX) solutions provider for technology and blue-ch...

Hashtag.net.au - avatar Hashtag.net.au

Health & Wellness

Understanding the Environmental and Health Impacts of Waste Disposal: Essential Insights

Hashtag.net.au - avatar Hashtag.net.au

🌎♻️Explore the health & environmental impacts of waste disposal. Dive into essential insights💡for a sustainable future! #WasteManagement #Health🌿🌍 Waste disposal is an inevitable aspect of mode...

The Role of a Child Psychologist: Helping Kids Navigate Emotional Challenges

Hashtag.net.au - avatar Hashtag.net.au

Child psychologists play an important role in aiding children to overcome behavioral and emotional challenges. The experts will easily identify the developmental stage and emotional needs of the chi...

Therapy as a Preventative Measure: Maintaining Mental Health Before a Crisis

Hashtag.net.au - avatar Hashtag.net.au

In recent years, the conversation around mental health has shifted significantly. No longer seen solely as a response to crises, therapy is now increasingly recognised as a proactive measure for mai...

What Are Sleep-Wake Disorders? A Comprehensive Overview

Hashtag.net.au - avatar Hashtag.net.au

In our fast-paced world, the importance of a good night’s sleep cannot be overstated – sleep is essential not only for physical rejuvenation but also for mental and emotional wellbeing. However, for...

Tomorrow Business Growth