Prudential Singapore launches financial advice arm
The business will be able to offer customers travel insurance products, alongside other financial solutions and services
Prudential Singapore has launched a new financial advisory firm, Prudential Financial Advisers (PFA), which will also be able to sell general insurance products such as travel insurance.
The insurance will be offered alongside wealth solutions such as unit trusts, and other ‘auxiliary services’ such as estate planning via PFA’s partners.
The company said the new business will ‘complement its existing distribution ecosystem’, and that one of PFA’s primary aims is to ‘support Singapore residents who are living longer as the country’s life expectancy continues to rise’.
PFA will be led by Bernard Chai, an industry veteran who most recently served as Prudential’s Head of Agency Transformation. Chai has also served as Prudential’s Head of Standard Chartered Bank Partnership, Director of Partnerships Development, and Head of Business Development.
“Customers today are expecting more one-stop solutions to meet their needs for all-of-life, especially on the back of rising life expectancy, and Prudential Financial Advisers is well-placed to meet this need,” said Chai. “We bring the best of both worlds to our customers - Prudential's life insurance offerings as well as general insurance and wealth management solutions from our partners. In this way, we help them to address their healthcare needs, as well as to protect and grow their wealth, so that they can better plan for their retirement.”