Formed in 2015, Manulife Financial Advisers (Manulife FA) started with just 199 representatives. In less than six years, it has grown more than six times to over 1,300 financial services consultants, making it one of the fastest growing Financial Advisory firms in Singapore. On top of that, Manulife Financial Advisers is majority-owned and receives strong support from parent company, Manulife Singapore.
In an interview with Mr Khoo Poh Huat, Chief Executive Officer of Manulife Financial Advisers, we find out more behind its phenomenal growth.
Open platform that offers a range of products
“We believe in giving our clients choice and holistic solutions covering wealth and protection,” said Mr Khoo.
Operating on an open platform, it offers eight insurance providers, as well as four wealth platforms. Coupled with its team of experienced and dynamic leaders and financial services consultants to provide guidance, clients benefit not only from having a suite of product choices that typically aren’t available on traditional insurer-tied platforms, but also expert opinions and professional advice from its financial services consultants.
Key highlights over the years
In 5 years, the number of MDRT achievers has grown by over 20 times. From 17 in 2015 to 358 in 2020.
“2020 was truly an exceptional year for us, despite being hit by the challenges of Covid-19, our sales grew more than 25%. In fact, 25% of our sales force achieved MDRT in 2020, and we are proud to share that we have 15 Top of the Table (TOT) and 66 Court of the Table (COT) qualifiers,” he said.
He added, “We have also been ranked in the Top 100 global companies for highest number of MDRT qualifiers over the last two years.”
Secret behind amazing growth
Manulife Financial Advisers’ unique platform for providing a suite of product choices is one of the keys to its amazing growth.
Another key to its amazing growth is its people and leaders. At Manulife Financial Advisers, three of its senior sales leaders are also part of the firm’s management team. This provides an unparalleled alignment between the sales force and the management team. And it shows in the results, with 25% of its sales force having achieved MDRT.
He added, “I’m also proud to say that our hunger, ambition, and a strong set of leaders have been the true driving force behind our amazing growth, and this has really set us apart.”
Moving forward
Besides planning to double its sales force over the next three years and continuing to be the premier Financial Advisory firm in Singapore when it comes to producing MDRT achievers, Mr Khoo shared that Manulife FA would also be a one-stop shop for all clients.
Providing the best onboarding experience for its representatives and cutting-edge digital tools for them to conduct the appointments easily is also part of Mr Khoo’s vision for the company across the next few years.
“We also want to provide them with best-in-class customer relationship management (CRM) tools and capabilities, so they can reach out to their clients easily, track their conversations and continue to engage with their clients regularly,” he shared.
Not forgetting the High Net worth (HNW) market, Mr Khoo aims to strengthen its HNW capabilities in terms of providing exceptional support for its advisers to reach out to this market group and meet their needs.
Lastly, a word of advice to all agents and advisers out there, “Always believe in what you do. The conviction in what we do every day is the one that sets us apart when dealing with our clients.”
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