Becoming an independent financial advisor does not have strict prerequisites, but having a relevant polytechnic diploma and a degree in a related field is valuable. Additionally, it is essential to successfully complete modules 5 to 9A of the Capital Markets and Financial Advisory Services (CMFAS) examinations.
To initiate the application for a financial advisor license in Singapore, the initial step is to establish a company if one is not already in place. The process of forming a company includes several crucial stages such as selecting a suitable company name and address, preparing the necessary company charter for submission, and completing the registration procedure. For more comprehensive information on setting up a company in Singapore, you can refer to the relevant article on Singapore company formation.
If you already have a company and plan to apply for a financial advisor license, you need to submit the application form found on the Monetary Authority of Singapore (MAS) website. Upon submission, you will receive clear instructions regarding the payment process and the subsequent steps to follow in order to become a qualified and reputable financial advisor.