Singlife Financial Advisers CEO to stick to growth roadmap

The market is ever changing, and SFA would adjust its strategy and pivot when needed.

Singlife Financial Advisers Pte. Ltd.’s (SFA) new CEO is harnessing Singapore’s ageing population and a growing number of high-net-worth individuals as drivers of growth, ensuring that the company would adjust to market trends.

“I do have aspirations to grow both the business volume and the number of representatives we have,” CEO Justin Ho told Insurance Asia in a Zoom interview. “But I’m also aware, from experience, that sustainable growth can only be achieved with a strong foundation of compliance and trust.”

“After 20 years of working in the financial service industry, with a fair bit of focus on revenue growth and leading business development teams, I’m definitely driven to push SFA forward,” he added.

Ho started his career as a financial consultant at Prudential Assurance Company Singapore and spent a decade at Singapore Life Holdings Pte. Ltd. (Singlife), SFA’s parent company, where he most recently served as executive director and head of business development. 

Ho, who has a Bachelor of Engineering degree from the National University of Singapore, said his leadership comes at a time when many Singaporeans are reassessing their financial health amidst persistent inflation. 

Almost two-thirds of Singaporeans want to be financially independent between 40 and 60, according to a CIMB Bank Berhad (Singapore Branch) study. More than half think they need more than $744.5k (S$1m) to do so. 

“In general, you could say that around seven out of 10 people do not feel financially free,” Ho said. “Similarly, a comparable number say that financial freedom is important to them — almost the same proportion.”

Despite a mandatory social security system that helps working Singaporeans and permanent residents save for retirement, healthcare, and housing needs, Ho said people still need a more comprehensive tier coverage.

“Financial services are actually a high-touch industry,” he said. “The need for human advisors who can tailor and customise and fully understand an individual’s financial service needs is there.”

Ho said the market is ever changing, and SFA would always adjust its strategy and pivot when needed.

“As we all know, Singaporeans are living longer, the aging population is growing, and healthcare costs are rising,” he said. “People are worried about living expenses, but that’s where we come in — with clear solutions and the eagerness to help people resolve these issues.”
He also cited a growing number of people who seek more affluent products, and Singlife and SFA would capitalise on this segment.
“I’m always very clear on my roadmap and how I want to grow SFA to achieve its goals,” Ho said. “As a corporate leader, I’ve always built teams that are aligned with the direction I set — teams with strong commonalities and highly motivated individuals.”