Model Client

Was chatting with a client/ friend today. He wanted to check whether he was adequately covered. He is the elder brother of my primary school classmate. Both of them are very successful businessmen. They are in semi-retirement mode since the beginning of 2009. They are aged 29 and 34 as of today. The elder brother was nice enough to let me share his portfolio on my blog.

Age next birthday: 35 years

Life policies held:
1) Traditional whole life. Sum assured: $50,000. (This was bought for him when he was 5 years of age by his parents. Today he is continuing to service the policy)
2) Traditional whole life. Sum assured: $300,000. Critical illness: $200,000 (Bought from me when I was in my first insurance company)

Term policies held:
1) SAF Group Term. Sum assured: $400,000. Critical illness: $300,000
2) Accident policy. Sum Assured: $200,000

Medical plans:
1) Aviva Myshield and Myshield Plus (Plan A)

Investments:
1) Unit Trust: $80,000 CPF-OA (Schroder BRIC, HGIF Chinese Equity) $20,000 CPF-SA (AIGIF Acorns of Asia Balanced Fund) $80,000 Cash (Fidelity China Focus, Legg Mason SEA Special Sits Fund). All bought from me! "Heng" the market rebounded!
2) $250,000 worth of high dividend yield shares traded on the STI index (eg. SPH)
3) Fully paid 4 room HDB flat in Hougang. Renting out for $1800 per month.
4) Fully paid freehold condominium in Newton. Renting out for $3800 per month.
5) 35% paid freehold condominium in Novena. Monthly installments: $3000.

Others:
1) Continental Car: 7 years loan. Monthly $750

I told him... please lah. You're more than safe. Just load up on maybe some medical stuff and reallocate your unit trust investments to something less growth focused and more capital protective. Will be meeting him soon.

Interesting how it took him a mere 12 years of working to amass this amount of assets. This person is prudent and investment savvy. Best type of client!