Prudential launches financial advisory arm

New firm to offer life and general insurance plus wealth management solutions

Prudential launches financial advisory arm

Insurance News

By Kenneth Araullo

Prudential Singapore has officially launched the Prudential Financial Advisers (PFA), its financial advisory arm. The newly established firm will offer a wider range of insurance products including general insurance and wealth solutions.

PFA insurance products will complement Prudential’s existing distribution ecosystem. Travel insurance and motor insurance will be offered by the financial advisory arm, as well as wealth solutions such as unit trusts. Complementary solutions and auxiliary services like estate planning, family office, and tax advisory will also be provided by PFA and its partners.

According to a news release, PFA will be led by Bernard Chai, an industry veteran with more than 40 years of experience, almost 20 of which were spent with Prudential. Before being appointed CEO of PFA, Chai served as head of agency transformation.

"Customers today are expecting more one-stop solutions to meet their needs for all-of-life, especially on the back of rising life expectancy, and Prudential Financial Advisers is well-placed to meet this need,” Chai said. “We bring the best of both worlds to our customers – Prudential's life insurance offerings as well as general insurance and wealth management solutions from our partners. In this way, we help them to address their healthcare needs, as well as to protect and grow their wealth, so that they can better plan for their retirement.”.

In March, Prudential announced that it is now trading in the Shanghai-Hong Kong Stock Connect program.

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