Singapore-based ICMIF member NTUC Income (Income) is targeting to recruit 1,200 new financial advisors with the launch of its Sales Management Associate (SMA) programme. Designed to groom participants, such as fresh graduates and mid-career job seekers, with little to no financial advisory experience, to become sales specialists and leaders in the insurance industry, Income says SMA is the only programme in the industry that offers integrated career tracks in financial advisory that range from tied advisors, to retail and financial advisors. This gives participants a holistic exposure to the insurance industry and financial advisory before they decide on a career track to pursue.
The 18-month earn-as-you-learn programme offers a starting monthly base remuneration of SDG 2,900, even as participants sit for exams to obtain relevant licences. The SMA programme is also uniquely structured to hone a strong foundation in financial advisory by allowing participants to first complete their financial advisory licensing, undergo sales training and on-the-job career discovery, before moving on to full-time careers within the Income network.
After obtaining their licences, participants of the SMA programme will receive on-the-job training at Income’s Retail Financial Service (RFS) branches, to learn the basics of policy servicing, handling customer claims and customer service, as well as, one-on-one mentorship by the senior management team at Income. The SMA programme also offer participants the opportunity to undergo “job sampling” in the areas of insurance design, claims, product development, underwriting and more, so that they gain insights into Income’s front and back-end sales operations. This industry-first programme design allows participants to deepen their understanding of the insurance industry, before embarking on full-time financial advisory careers, with the flexibility to hone their skills either as a client advisor with Income’s RFS branches, tied advisors with Income’s agency force, or a financial advisor at Income’s financial advisory subsidiary, Infinitum.
Mr Fabian Ng, Income’s General Manager for Consumer Business, said, “Income believes in creating shared value for the company and the community that we serve. The launch of the SMA programme is extremely timely as it helps to create meaningful job opportunities for Singaporeans in the current economic climate. This specially curated programme is the only one that provides three career tracks, remuneration from the day you start which includes attractive bonuses, and not to mention well-rounded learning opportunities, including mentoring, across the different facets of insurance to hone strong financial advisory skills.”
“Our unique network and integrated approach allows us to groom the next generation of advisors holistically, and we believe that this will give them flexibility to carve a clearer path for growth in the financial services industry. The SMA programme will also enable us to double our agency force, to strengthen our distribution channels and better serve the evolving insurance and financial advisory needs of Singaporeans,” Mr Ng added.
Since the soft launch of the SMA programme in October 2020, Income has received positive response from fresh graduates, as well as mid-career job seekers, who are looking to kick-start a career in financial advisory.
Mr Jackson Soh, a fresh graduate from the Singapore Institute of Management (SIM) enrolled in the SMA programme, said, “Having previous experience in financial advisory during my university days, I am able to sharpen and hone my craft through the training provided by the SMA programme. What I thought is unique is being personally mentored by the senior management team which has allowed me to gain a much better perspective into the world for insurance, with deeper knowledge in the development and processes of the insurance industry, an area that many advisors may not have access to. Furthermore, as Income is currently the only insurer that offers a flexible career proposition, the SMA programme provides me with job security and allows me to explore the different career opportunities that I can pursue.”
Ms Kimberly Kong, a fresh graduate from the Singapore Management University (SMU) enrolled in the SMA programme, said, “Being new to the insurance industry, the SMA programme gives me the assurance of being a well-thought-out programme that provides a holistic experience which allows me to earn as I learn. The programme has introduced me to various aspects of the business, and the one-on-one mentorship provides great guidance that has inspired me to want to learn more. In addition, I like that it also gives me job and financial security with a good remuneration from the day I join the programme, while learning the ropes of the industry.”
To find out more about the SMA programme by Income, visit www.income.com.sg/careers/sales-management-associate.