The Insurance and Financial Practitioners Association of Singapore (IFPAS) has announced its 2023/24 Executive Council following its 49th Annual General Meeting.
Money Playschool brings you an insider’s look at what this is all about and why it matters to you.
What is IFPAS?
The Insurance and Financial Practitioners Association of Singapore (IFPAS) is a professional non-profit association in Singapore that represents individuals who work in the insurance and financial planning industries.
IFPAS takes the lead in raising the industry’s public profile, holistically, by providing continuous educational development, promoting ethical and professional standards and developing community engagement activities that utilise the financial practitioners’ knowledge and expertise.
Financial practitioners who are IFPAS members adhere to the association’s Code of Ethics, which it enforces strictly to ensure a high standard of membership, as well as to protect the public’s interests, the institution of life insurance and the institution of insurance and financial services.
IFPAS Code of Ethics
We shall :
1. PLACE the best interests of our clients before our own;
2. EMBRACE a culture of fair dealing and ensure high ethical standards in the conduct of our profession;
3. HOLD in strictest confidence, and consider as privileged, all business and personal information pertaining to our clients’ affairs;
4. MAKE full disclosure of all facts necessary to enable our clients to make informed decisions;
5. COMMIT ourselves to our profession so as to earn and enjoy the public’s continuing trust and confidence in the Insurance and Financial Services industry; and
6. Abide by and conform to all rules and regulations of IFPAS.
IFPAS 2023/24 Executive Council
The IFPAS Executive Council consists of volunteers from the financial services industry who represent and serve the industry, their fellow members, and the wider community.
The IFPAS 2023/24 Executive Council members are:
President: Sim Willing
President-elect: Ng Eng Beow
Vice President 1: Derrick Yip
Vice President 2: Tan Seng Chuan
Vice President 3: Ang Kim Soon
Honorary Secretary: Albert Tan
Honorary Treasurer: Sylvia Tan
Council Members: Leong Sow Hoe, Carlos Lee, Liu Jialong, and Chia Xian Min
Staying true to the core values of integrity, professionalism, and excellence
Mr Sim Willing, President, IFPAS, said in his speech: “I am thrilled to report to you today that our association has achieved tremendous success in the past year. Thanks to the hard work, dedication, and commitment of my team and to the support of members to our shared goals, we have made significant progress in advancing our mission and serving our community.”
He highlighted the success of IFPAS’ High Net Worth Certification Pogramme, with the support of its education partner – Kaplan Professional Australia.
“In 2022, we have recorded about 800 subject enrolments. When the programme was launched in 2021, our intention was to help financial advisers manage the complex financial needs of individuals with significant assets and for advisers to be able to provide customised solutions to help clients achieve their goals.
“At the end of 2022, we are proud to have 90 certified HNW advisers whose level of credibility and trustworthiness jumped a notch higher. We had our first HNW graduation ceremony in May 2022 and I want to take this opportunity for all of us to give them a round of applause for a job well done!”
IFPAS will continue to provide quality education and support to members, and deliver accurate and reliable information on a wide range of topics for industry practitioners to stay up-to-date on the latest trends and insights.
Mr Sim also took the opportunity to announce that IFPAS is now working on the resumption of the Fellow Chartered Financial Practitioner Programme (FChFP) in Singapore, with the full support of the Asia Pacific Financial Services Association (APFinSA) which owns the designation and Kaplan Professional Australia, its appointed education partner.
He shared that the work IFPAS has done, especially on the education front, has helped to forge a stronger and more positive image and profile of the industry in the eyes of the public, regulator, and other stakeholders. It will continue reinforcing this by participating in newspaper forums, TV and radio interviews, and hosting exclusive dialogue sessions with Ministers for both members and partners.
“Looking ahead, I am confident that we will continue to thrive and succeed, thanks to the dedication and commitment of our members, executive council, and secretariat. We have a strong foundation to build upon, and with your help, we will continue to grow and evolve, always staying true to our core values of integrity, professionalism, and excellence,” he concluded.
Learn more about IFPAS
Learn more about IFPAS here, whether you are a consumer looking to learn more about what IFPAS is doing to help the community or you are a financial practitioner looking to learn more about the benefits of becoming an IFPAS member.
*Main picture credit: IFPAS
(L-R): Carlos Lee, Tan Seng Chuan, Derrick Yip, Ang Kim Soon, Chia Xian Min, Sim Willing, Sylvia Tan, Ng Eng Beow, Albert Tan, Leong Sow Hoe, and Liu Jialong
Check out these educational content from IFPAS:
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