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Case Studies

Patsy Khoo

The Financial Wellbeing Architect

“I find it very empowering to be able to tell someone at a certain age, that he can choose to stop work if he wants to,” says Patsy Khoo.

Patsy is passionate about helping her clients find the right amount of financial protection they require, as well as empowering them to take steps towards early retirement. And she has a blueprint for it.

Today, she guides over 200 mass affluent and high-net-worth individuals in designing their financial journeys.

“Many of my clients have had multiple policies before they met me and did not know how all the different policies stacked up,” she explains.

“My job is to draw up their unique financial blueprints. I straighten out information on what they have so that they know where they are at, where they want to go, and how we can get there together,” she adds.

Patsy has many accolades under her belt, the most prestigious being qualifying for Million Dollar Round Table (MDRT) in 2020. She was also the Apex Advisory Group’s Top Producer in 2019, putting her near the top 5% of advisers at IPPFA. The high achiever’s drive has brought her far in her career; less than two years since joining IPPFA as a Financial Services Consultant, she has risen to the rank of Associate Director today.

Confidence is a Personalised Retirement Roadmap

Patsy first met Karen in 2019. In her early 40s, Karen’s primary goal was to retire by the age of 60, seven years ahead of the age at which Singaporeans typically stop working.

However, she had no idea how she could reach that goal. Upon reviewing Karen’s goals, needs and lifestyle, Patsy implemented a retirement blueprint to properly get her plans for retirement on track.

“This blueprint comprises a combination of strategies that I adopt when advising my clients. In general, the strategies must strive to achieve these outcomes – financial protection for life, passive income in both good times or bad, and investments that consistently achieve positive growth above inflation per annum,” Patsy explains.

Patsy then refines her blueprint to meet the specific needs of each client.

Karen, for example, had a number of scattered plans in her financial portfolio. She had insurance coverage plans, some which were bought when she first entered the workforce. She also owned an investment plan which value she was unsure of. When Patsy looked into the investment plan, she discovered that it was just at breakeven value, after almost 10 years of investing. Overall, upon Patsy’s assessment, the plans were deemed inadequate to meet Karen’s future needs.

The first step was to protect Karen’s wealth. Patsy first ensured that Karen was fully covered for any hospitalisation expenses and that her critical illness coverage was sufficient, in the event that an illness was to strike her unexpectedly.

To meet Karen’s goal of early retirement, Patsy structured an overall portfolio, with some resources put into varying levels of risk and return. The breakdown between what is at risk against the guaranteed returns is reviewed every year as Karen’s retirement age draws closer. In doing so, Patsy ensures that Karen’s monies are optimally allocated, at different stages of her life.

“When Patsy looked into the investment plan, she discovered that it was just at breakeven value, after almost 10 years of investing.”

On the Fast Track
to a Comfortable Retirement

Just one year after her first meeting with Patsy, Karen has now a clear path to achieve her retirement goal. Furthermore, she now expects to be able to retire earlier than her initial target of 60 years old. Currently armed with a robust investment portfolio, Karen can look forward to a steady stream of passive income, as well as wealth that is steadily growing. Her enhanced insurance plan also ensures that she can rest easy knowing that she and her aged parents will be well taken care should anything unexpected happen.

Today, Karen is more confident about making financial decisions than she was a year ago. For someone who used to find financial planning challenging, Karen now finds charting her financial path a more straightforward process – a transformation she attributes to Patsy’s ability to convey clear and concise explanations.

“Her enhanced insurance plan also ensures that she can rest easy knowing that she and her aged parents will be well taken care should anything unexpected happen.”

IPP Financial Advisers Pte Ltd

78 Shenton Way #30-01 Singapore 079120Tel: +65 6511 8888 enquiry@ippfa.com   

IPP Financial Advisers Pte Ltd

 

78 Shenton Way #30-01 Singapore 079120
Tel: +65 6511 8888 | enquiry@ippfa.com