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INTRO New Guy from Singapore

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Kevin88660

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Feb 8, 2019
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I am in my early 30s. I did fairly well in school, majored in Economics.

The script was as follow.
1)The workaholic path. Go do internships for investment banks. Get a job there and work until 1am everyday. Then try to exit into private equity.
2) The “Intellectual Path”. Go and intern in a hedge fund and try to convert as a full time analyst. Learn value investing, security analysis and do a CFA. Hopefully you can become a portfolio manager. If you can run your own fund one dat you wll become a multi-millionaire

The problem is most of my peers can never even secure the internship, unless you have super good grades and network extensively to land the first opportunity. So most of us do a middle/back office roles in finance. Five years since we graduated most of us gave up trying to “switch”.

I was more interested in the “intellecutual path”. I couldnt get an internship in a hedge fund so I joined a Singapore bank as a mortgage banker for two years. Later on I took a pay cut to try proprietary trading in a small local firm. Its a mainly commission based role and we are only allowed to trade using the strategies developed by the founder of the firm. The problem is that in 2017 the strategies were not working and no one was making money. So many of the traders, including me left the place. The logical conclusion is to join a more established trading firm with better mentors and strategies. But times CHANGED. They don’t want people who know macro-economics or any knowledge in technical analysis. Established trading firms want people with strong programming background or advanced math degree. So we are useless to them.

What do I do next? Go do a STEM PHD to get a better trading job in finance? Thats INSANE. I still have a very good buddy struggling with the script. He was doing a compliance job in a bank until 8pm everyday and meanwhile studying CFA on weekday nights and weekends. Thats 80 hours of hard work per week HOPING for a better future. That’s insane.

I came to realise that if we have to work our asses off it would be better working for ourselves-run a business or be self-employed. The script does not work and it was based on tales with survivorship bias. There is nothing sexy about my motivation for entrepreneurship. The script was obviously broken. You cannot work for a company that does not want you or need you. Period. Better to spend time hustling for myself than to hustle for a hope to get a better job on a “career path”.

Internet business? Not my cup of tea. I evaluated my experience and strength objectively and decided to go self-employed as a financial consultant. I have decent network to tap on. I am currently tied to the biggest insurer in Singapore.

All that was what happened before I know about the fast-lane. Now I am here.
 

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Sheens

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
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Jan 13, 2018
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USA
Welcome to the forum and thank you for the great introduction!

Reading Unscripted would be an awesome resource for your consulting business! (if you haven't already!)

Are you finding or using any unique methods to differentiate yourself from the competition?
 

Ernman

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Feb 8, 2019
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Internet business? Not my cup of tea. I evaluated my experience and strength objectively and decided to go self-employed as a financial consultant. I have decent network to tap on. I am currently tied to the biggest insurer in Singapore.
I'm very new here and sure there are a huge number of vastly more qualified members to respond...but isn't that trading one job for another. What about the law of TIME? How will you detach consulting from your time?
 
OP
OP
K

Kevin88660

Gold Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
1,075
1,085
365
Singapore
I'm very new here and sure there are a huge number of vastly more qualified members to respond...but isn't that trading one job for another. What about the law of TIME? How will you detach consulting from your time?
I switched to financial consulting in early 2018. I discovered fast lane recently and read unscripted. The business model of financial consulting is about sales of financial products. It’s much more scalable than a 9-5 job but it’s far from a perfect model based on CENTS.
 
OP
OP
K

Kevin88660

Gold Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
1,075
1,085
365
Singapore
Welcome to the forum and thank you for the great introduction!

Reading Unscripted would be an awesome resource for your consulting business! (if you haven't already!)

Are you finding or using any unique methods to differentiate yourself from the competition?
I have read unscripted. May I know how do I put it below my username to show others that I have already read unscripted?

It’s a sales role. I get an appointment to meet a prospect to do a need analysis on protection planning and weath/retirement planning. Then I recommend the products to reach the kinds of financial goals. It’s literally selling the “slow lane service” if the prospect is a middle class income earner. “This is how much you need to save every month if you wish to retire at 60.”

The most benefical perspective I have gained from reading unscripted is to see time as the most important resource.
 

Ernman

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Feb 8, 2019
736
1,615
471
60
Florida, USA
I switched to financial consulting in early 2018. I discovered fast lane recently and read unscripted. The business model of financial consulting is about sales of financial products. It’s much more scalable than a 9-5 job but it’s far from a perfect model based on CENTS.
I've also done some consulting. In my case, marine engineering. So I can understand how it kind of fits the fast lane. If you take the position that one can research an issue once and sell it several times after repackaging for specific clients. But, to me anyway, that is still slow lane work. I must still physically go find clients, meet with them, listen to them, prepare reports, etc. Please don't get me wrong - I believe you are off to a good start. You are doing something about your life and thinking. That is something most people don't do. I just don't believe your track is truly fast lane yet. Looking forward to comments from more experienced members of the forum to help.
 

Sheens

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jan 13, 2018
206
434
215
USA
May I know how do I put it below my username to show others that I have already read unscripted?
Post on the thread I linked below for that badge. This is the same for "I've read The Millionaire Fastlane!"

GOLD! I've Read UNSCRIPTED!

I am not in the financial niche but something that strikes me is the shift from service to product. These are awesome threads by @UnrealCreative and @Andy Black, respectively. Both of these guys have an amazing way with words and a great depth of knowledge!


selling the “slow lane service” if the prospect is a middle class income earner
What if you were also able to introduce them to the books and a different way of looking at financial goals? Most of us are leaning at young ages the scripted dogma. Perhaps you can still help those people that need to straighten out debt, basic finances, ... and open his or her eyes to NECTS!
 

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