When life changes, so can your financial priorities
A terminal diagnosis. Divorce in retirement. Priorities that shift over time. OCBC Premier Banking relationship manager Bryon Loke explains why good financial advice starts with understanding what clients really want and responds to changes in their lives.
A terminally ill woman walked into OCBC’s Jurong Point branch with a clear plan – to invest her money in a fixed deposit and insurance plan. However, after a conversation with OCBC Premier Banking relationship manager Bryon Loke, she decided on a different course of action. Loke initially asked about her financial situation and goals, discovering she had terminal illness and only months left to live.
He learned her healthcare costs were covered, and she had no dependents to support, prompting him to help her focus on what mattered most. Loke encouraged her to consider using the money to create experiences with her loved ones, emphasizing that sometimes, the right advice isn't to invest more but to make decisions aligned with her priorities.
This encounter highlighted how life changes can alter financial priorities, leading to a conversation centered on her experiences with family and friends. The principle remains that understanding the client's desires is crucial for meaningful financial advice.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
