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FINANCIAL SERVICES | Staff Reporter, Singapore

NTUC Income to set up financial advisory firm

It will offer tailored financial advice and fact-finding services.

NTUC Income is establishing a wholly-owned financial advisory firm called Infinitum Financial Advisory (Infinitum) following the acquisition of financial advisory firm, Elpis Financial, an announcement revealed.

Through Infinitum, NTUC Income aims to invest in technology to drive efficient, value-added financial counsel by offering tailored financial advisory and fact-finding via a proprietary electronic platform.

Income will reportedly accelerate Infinitum’s growth and competitiveness in the industry through acquisitions of well-established licensed financial advisory firms in Singapore. Additionally, Infinitum will be investing in technology to enhance customer-centricity and strengthen income as a multi-channel insurer.

Around 80 financial advisory (FA) representatives and staff from Elpis will join Infinitum as part of the acquisition as the new FA firm takes over management of Elpis’ clients, products, and services.  “To ensure a smooth transition following the acquisition, clients will continue to be served by their current FA representatives. The same will also apply to Financial Dynamics when the acquisition is completed.”

Income’s acquisition of Financial Dynamics is also expected to be completed by end-July.

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