Abandoned by your advisor? Here are the 4 things you must do

Posted 26 November, 2017 by Surely
in Educate Yourself

The words on the letter are clear.
Your insurance company has confirmed your fear.
Not the worst one really.
In fact, it should not be a fear at all.

Your agent has jumped ship.
Apparently, he has gotten wealthy by ditching you and other clients.
About a cool 100 million dollars richer collectively.

Or she may just be getting out of the industry.
She had enough of being rejected constantly.
And barely being able to make ends meet.


>> Relive the hardship that a typical advisor has to go through. <<


Whatever the reasons, your advisor has abandoned you.
You have no idea what to do next.
Doing nothing seems attractive but you are not entirely sure if that is wise.

We are here to help you cope with this painful breakup.
Put away your tissues and come with us!


Try the replacement.


You see a name at the end of the letter.
The insurance company has assigned you a new advisor.
The problem is you have no idea who he is.

You are not sure how he looks like.
Does he know his stuff?
Most importantly, can you click with him?


On 2nd thoughts, Ashley may be a lady. Time to make the call!

On 2nd thoughts, Ashley may be a lady. Time to make the call!


Actually, why not give him (or her) a chance before sentencing him to death?
Every friendship starts off with two strangers.
You may just find that he is the right one for you.
Financially speaking that is.
If you are also looking for something romantically, that may just be killing two birds with one stone.

Jokes aside, it may be well worth your effort to do a financial review with the replacement advisor.
At worst, you get another point of view about your portfolio.
You may even come to a realisation that your previous advisor was doing a lousy job!


Go back to your advisor.


If your advisor has moved to his competitor, he will come knocking on your doors soon.
He is keen to re-establish his relationship with someone who has trusted him before – you.

Do you feel the same way?
Should you be a tad irate for his abandonment?

The truth is that everybody does that nowadays.
Do you stay with the same employer for your entire working life?
If not, why do you expect your advisor to do the same?



For some people, a new year represents a new job.


In fact, he may have done so to reap more benefits for his clients.
He may have switched to an Independent Financial Advisor so that he can now recommend a wider range of products.
That represents more choices for you as a consumer.

At the end of the day, the advisor who has done a pretty good job previously is likely to do the same for you even if he has changed his affiliated insurance company.
He has been professional with his dealings so far and that is unlikely to change.
And this is the person that you have already trusted previously.

Unless he does the following..


Look out for churning.


When your advisor is employed by company A, the products are marvellous.
The highest coverage at affordable prices with the most comprehensive coverage in the market.
However, it seems that after he joined company B, the insurance policies that he has sold you previously seem to be worthless.

He is advocating that the products of company B are much more superior.
Although the premiums are higher, you will enjoy better coverage.
More importantly, he can continue to look out for you if and only if you switch with him.

This is churning.
Churning is the practice of an insurance intermediary advising the policyholder to generate funds from existing policies to finance part or all of the premiums for a new policy in order to earn more commission.

This is especially true in cases whereby the advisors have switched to a rival firm with huge incentives.
Those monetary rewards do not come free.
They have to meet a certain expectation before they can receive the full amount.


Well, you may look just like him.

Well, you may look just like him.


You do not want to fall prey to that.
If you have developed pre-existing conditions since, you will only enjoy partial coverage when you replace your old plans.
Exclusions or premium loading may be imposed.

The former may cause you to become the central character in a tragedy.
We implore you not to allow yourself to be that situation.


Stand on your own. With the support of many.


In the past, it is almost impossible to do it yourself.
Even if you are financially literate, you do not have the financial calculator or the ability to transact.
You need an advisor then.

Nowadays. you can do your own financial planning with the whole array of online financial tools that are available to you.
There are robo-advisory services for almost everything nowadays.
You name it, they have it.

>> Hey, they have a good one for life insurance here! <<


The new-new advisor is in town.
He provides a totally objective perspective and has no third party interest.
He is none other than you.

The new advisor assigned by the insurer?
You may continue to have him to service your policy.
The previous one that you have worked together so well with – you can continue to seek his opinions and get new products from him.

However, you get to decide which one to go to at which point.
You decide what the best is for you after listening to various opinions and double-checking online.
After all, it is not a cardinal sin to have more than one financial advisor!




With more and more IFAS and tied FA being started over the past years, the turnover of advisors is going to continue.
You will almost inevitably lose your original and even the replacement advisors to poaching, termination and even death.


At least we know that advisors are usually properly insured.

At least we know that advisors are usually properly insured.


There is no point blaming your advisors for abandoning you.
It is almost natural for that to happen.
Instead, you do what that is best for you.

After all, financial advisors are just means for you to obtain insurance advice and to purchase them.
In the very end, what you really want is to have sufficient coverage.
By doing all these things right, you can be assured that you are properly insured at all time.

www.ClearlySurely.com aims to eradicate the knowledge gap between consumers and Life Insurance. Our Vision is that one day, every Man, Woman, and Child will be properly insured.

  1. Sinkie

    Advisors are usually properly insured??

    Don’t know about now, but when I was moonlighting in the industry 10 years ago, easily 90% of the sales staff I worked with were not. Quite a few of them even bought flavor-of-the-month or designated-policies-of-the-month for themselves or family members just to hit their monthly or bi-monthly sales targets. Most had rubbish policies which they would terminate after a few months.

    And these were the “professional advisors” exhorting consumers to be properly covered & doing “financial analysis” for them. LOL!

    The kicker was when a senior director who had been with a major insurance company for 25 years told me privately that she wouldn’t buy 95% of the company’s current products for herself or her family or anyone who mattered to her.

    Having no “personal” advisor is often the best thing to avoid being regularly leeched.

  2. KH

    yah, alot of these so called agents actually have poor money management skills themselves. that guy who got 4 million out of axa also didnt fare well after he got rejected for the job, despite earning millions.

    but then 90% of them seems to be a high estimate. i would think about 30 – 40% is more reasonable

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