Instilling IFA best practices for expat advice
Trevor Keidan of Infinity Financial Solutions
Apr 30, 2014
For Trevor Keidan, chief executive of Infinity Financial Solutions, doing things differently and providing value is at the core of his firm’s philosophy. While simple in theory, it is nowhere near as commonly practised in the broader advisory community as it should be.
In an environment where investors are skeptical about the objectives, independence – and, in some cases, integrity – of financial advisers, standing out simply comes down to doing the right thing for a client.
While this is hardly revolutionary, adding value is not what most firms or advisers do, says Trevor Keidan, chief executive of Infinity Financial Solutions.
As a provider of expat financial services across Asia with offices in Malaysia, Hong Kong, China, Cambodia and Vietnam, his firm focuses on offering a financial planning service to genuinely “make life better”.
“We’re here to protect, build and maximise a client’s wealth for the future security of them and their families,” he explains. “But most of all, we want to help them achieve their hopes and objectives, whatever they may be.”
Re-educating clients
Part of the challenge for the IFA community stems from clients’ expectations that the service is free. As financial planners, however, Keidan stresses the difference in approach at Infinity from a traditional financial adviser.
In short, this is holistic financial planning that leads with a discussion about protection, not product.
“Rather than become product pushers, our staff neither sells nor selects funds,” he explains. “Instead, Infinity helps clients assess the level of risk with which they are comfortable and recommend the appropriate Bestinvest portfolio. As a result, probably 99% of products which come across our compliance officer’s desk get discarded.”
Keidan predicts change in the IFA industry over the next five to 10 years. “How many times can a financial adviser recommend a capital guaranteed product to a client and then be surprised to find it doesn’t do that?”
To instill the right mindset, Keidan believes that his team should be incentivized by doing the right thing for their client and doing a good job.
Access to expertise
Another key component of the Infinity service is putting clients in touch with the experts and solutions they need to meet their goals and aspirations.
“My role is not to be the fountain of all knowledge and an expert on everything,” says Keidan. “It is to collate, support and qualify what’s available after understanding the needs an individual client might have.” So whether this is writing a will, getting tax advice or saving for a pension, it is about connecting
clients with the right third parties that can deliver what they need.
Our brand, image and approach to doing business hopefully reflects this.
Chief Executive at Infinity Financial Solutions
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