How it works
Recruitment runs like a sales pipeline with people in it. A first call, an opportunity talk, an interview, then a contract. Most agencies recruit from referrals first: their own advisors, their clients, and people who've sat in on a talk.
In Singapore, a new advisor becomes a representative of your firm under the Financial Advisers Act, and MAS sets what they need before they advise anyone:
- They must be 21 or older and meet MAS's academic minimum.
- They must pass RES5 and, for life policies, M9 and M9A.
- They must meet MAS's fit and proper criteria.
- Your firm notifies MAS and certifies them as fit and proper. Their name then goes on MAS's public register.
When the recruit has been an advisor or a supervisor at another firm, MAS's Guidelines FAA-G14 add a check. The new firm should ask for the last four balanced scorecard grades their previous firm gave them in the past 10 years, and weigh them before contracting.
In the US, a new advisor needs a state producer licence for each line they'll sell. They also need a FINRA registration if they'll sell variable products.
Worked example, with made-up rates: to contract 1 advisor a month, say 1 in 4 interviews ends in a contract and 1 in 3 first calls reaches an interview. That's 4 interviews and 12 first calls a month, about 3 a week.
Recruiting is half the job. The first year decides whether they stay, so the weekly coaching and the activity you can see matter as much as the contract.
Where it shows up in your week
Recruiting works best as a weekly habit. The guide to recruiting financial advisors covers where to find candidates, the licensing rules from MAS and US regulators, and a first-90-days plan.
Related terms
Questions advisors ask
Sources
- MAS Notice FAA-N26, Competency Requirements for Representatives of Financial Advisers (in force 1 April 2024), read 26 September 2026, via /guides/recruit-financial-advisors
- MAS Guidelines on Fit and Proper Criteria, FSG-G01 (last revised 30 May 2025), read 26 September 2026
- MAS, Appointing a Representative for Licensed Financial Advisers or Exempt Financial Advisers, read 26 September 2026
- MAS Guidelines FAA-G14, Balanced Scorecard Framework and Reference Checks (last revised 29 December 2025): paragraphs 21 and 23, read 27 September 2026
- NAIC Producer Licensing Model Act (#218), read 26 September 2026