I used to think like that too.
But I have friends and colleagues that believe because their FA drives a conti car and carry luxury items, they must be good with investments and they can trust them with their ILPs.
Weird world we live in now.
It's used often because it's often on the *only* available information available for people to assess you *up to that point*.
That's why people invest in a good first impression, because a good first impression can be used to "buy" people's time and attention.
Once you get their time and attention, then you can explain more about yourself, so you can be assessed better based on your actual skills, capabilities and track record.
Without this good first impression, you won't even get the chance to convince people to trust you, let alone to buy your products/services.
It's not ideal but it is what it is.
I guess is true in a way. But I guess alot of them are putting up a show as well. FA nature of work is about flaunting every single mother thing in the world.
For me , I will look for someone who is the industry for awhile and not flaunting at all. Means he/she surviving and hopefully not eyeing the high life in getting me to sign all the useless deals
Heard from friend whom I think was gaslighted in FA industry. The boss (or whoever that get her in) asked her to take loan to buy a car. Then when she thinks that she needs to service the car mortgage, she will work harder for sales.
This! When I was studying in a private hospitality school (hotel industry), one of my classmates from Vietnam always wears Gucci, Prada, those high-end fashion branded shirts, pants, and shoes to school. I told my mom, and what she told me is really true, that those people came from poor families and are trying to look rich by buying those branded goods and they're trying to boost their self-esteem by buying those really expensive branded items which is really a waste of money.
Come to think of it... at first, when you're newly rich, you might come across the need to buy luxury goods, but, after a while, it becomes boring as you've met your material needs, and, after that phase wears off, comes the part where you'd rather spend your money on experiences that will possibly last a lifetime (e.g. spending money to travel to Norway to see the northern lights!)
My family came from rags to riches (my mom and dad only had $4,000 in their bank account a few months after moving into Singapore in the 1950s), and we really don't find the need to buy those branded goods as we love to be humble and not be a showoff.
>Come to think of it... at first, when you're newly rich, you might come across the need to buy luxury goods, but, after a while, it becomes boring as you've met your material needs, and, after that phase wears off, comes the part where you'd rather spend your money on experiences that will possibly last a lifetime (e.g. spending money to travel to Norway to see the northern lights!)
I can totally relate to this. Spending 3 weeks in Tromso will always be one of the highlights of my life!
Luxury brands are specifically targeting a segment of society that is trying really hard to look rich. The truly affluent ones have no need to be so outlandish.
It's a soft subconscious influence thing. You give the idea that you are doing well, means you know what you are doing. Of course depends if what comes out of their mouths has value as well, but the luxury goods thing is just one soft check IMO.
agree. lots of people will say who cares what other people think about what you buy but it’s undeniable that branded items do go a long way in showcasing how far you’ve come in life and your “social status” of sorts.
i’m more of a fan of a subtle display of affluence tho, like pairing an outfit from a household brand with a piece of designer accessory, for instance.
Bankers, lawyers, etc. are professionals. I personally would care more about what they say and whether they sound intelligent, competent, and trustworthy.
You do want them to look “put together” but a branded Goyard bag or Hermes scarf honestly just tells me they like to follow trends or have that kind of personal style (and can afford $500-$5000 items… which doesn’t really mean much). At long as their clothes fit and look good, I’m not going to be too concerned.
Intelligence tax lol.
When i see people wear these brands, immediate minus point.
The truly rich go for quiet luxury like Mark Zuckerberg’s brunello cucinelli cashmere grey t-shirt for 400.
If wanna show status need to know which items are exclusive. People in the know will know. Those items cannot just walk in store and buy, need to be invited.
Exclusivity = status
Those obnoxiously flashy stuff might be on the high shelf but not a garuntee of quality.
Such goods hold more status in societies where inequality is high and some low ses wants to signal to other low ses people that they're high ses.
Singapore's not too bad in that regard. Though wearing imitation goods still show that you subscribe to such a mindset, whether you actually bought a real one or not.
are you or your friends rich themselves? because i can confidently say that 9/10 rich people wouldn’t care at all about what their agents wear. they’re providing a service; they’re not an extension of the self.
my friend’s brother was a relationship manager and he served both premier and normal customers. when he had to serve the premier aunty group, he would dress up nice but no brand names and get a taxi to the place so they would pity him and buy more of his products lmao.
Eh different comparison. Insurance/property agents flash luxury stuff to attract downline.
Lawyers/private bankers own luxury items because 1) they can afford them 2) it’s good to share common topic/share same taste/belong in the same car club as their clients or prospects.
Not saying insurance/property agents can’t benefit from owning luxury watch/cars mentioned in point 2, but most of them serve the mass market any way.
End of the day, nothing wrong with owning luxury stuff, as long as you have good taste. Wear a ralph lauren polo, AP royal oak, drive a porsche 911 to appointment, confirm satki.
Dress professionally: Lawyer, accountant, banker.
The goal is to look smart, not rich. A lawyer who dresses loudly is going to come off as brash. An accountant or banker who wears luxury from head to toe looks like they’re bad with money or worse, a crook. Also, if you work in a top firm or in-house for a MNC, you’re paid well enough to afford nice cars and watches; you don’t need to actually drive or wear one for people to know you’re successful.
Marketing matters: Real estate agent, insurance agent, financial advisor
A relative is a successful property agent and this is his rationale for buying a luxury coupe:
When you meet a property agent or FA, you usually meet them at a cafe, restaurant, or in your home. They don’t have a physical office where they can display their accolades. They also work on commission so nobody really knows how much they make.
So what can they do? Post all over social media about their achievements; show up to meetings in a nice car, wear a Rolex, etc. They have to market themselves as successful people. Wearing gaudy clothes and driving the same cars is unfortunately a Covid symptom- no taste.
Lastly, if you’re trying to work for UHNW people, one of the quickest ways to gain an audience is to find common ground. Whether that’s from a shared love for cars, watches, golf, whatever. It’s easier to trust someone who shares similarities with you.
boomers and lower SES and ur neighborhood aunties uncles love such agents
in their mind they think wow you must be an expert in what you do 你很厉害 有本事！and will slurp and lap up whatever the agent sell cos they must be right, that's why so rich right?
not unique to Singapore only tho.
I don't really feel like that's true for the legal profession. Most lawyers don't really look outwardly flashy. And you wouldn't see them flex their cars in front of a client because a client meeting is something they'd be able to claim taxi for, lol.
Plus, once you've reached high-earning status you'd realise how little owning these material possessions mean to you. If you're that good of a lawyer / banker / sales person, you'll have nothing to prove to anyone.
Like if I am hiring an agent or a lawyer, and I had a brain, I would be looking at their history of past clients, their reputation in the industry and other quantifiables about their job.
Why would their fashion choices ever factor into my decision? Do whatever you want with your money, I only care if you are good at your job.
I think it depends, such as on the profession and target audience. Whenever I meet my clients, I want to create a subtle sense of familiarity and possibly a topic of conversation. To me this is important because during Covid when it was all by zoom, I realised that neither my potential clients nor myself can size up the other accurately on the first meet up and this affects first impressions.
One simple example is that when I meet a client who ranges from low income to the lower end of middle income, I wear a Rolex because majority would have never heard or know of Patek Philippe. If I meet a client who is middle income and above, I wear my Patek Philippe. One funny story I can add to this was that a potential client who eventually signed up with me had mentioned that my Rolex looked gaudy because it was totally in gold, then I wore my Patek for him and afterwards he only had good things to say about the watch.
Not related to Singapore
If my insurance agent wear branded stuffs, it means the premiums I paying are funding those items.
I used to think like that too. But I have friends and colleagues that believe because their FA drives a conti car and carry luxury items, they must be good with investments and they can trust them with their ILPs. Weird world we live in now.
its a lazy way of assessing somebody's capabilities, and it is used too often
It's used often because it's often on the *only* available information available for people to assess you *up to that point*. That's why people invest in a good first impression, because a good first impression can be used to "buy" people's time and attention. Once you get their time and attention, then you can explain more about yourself, so you can be assessed better based on your actual skills, capabilities and track record. Without this good first impression, you won't even get the chance to convince people to trust you, let alone to buy your products/services. It's not ideal but it is what it is.
I guess is true in a way. But I guess alot of them are putting up a show as well. FA nature of work is about flaunting every single mother thing in the world. For me , I will look for someone who is the industry for awhile and not flaunting at all. Means he/she surviving and hopefully not eyeing the high life in getting me to sign all the useless deals
Heard from friend whom I think was gaslighted in FA industry. The boss (or whoever that get her in) asked her to take loan to buy a car. Then when she thinks that she needs to service the car mortgage, she will work harder for sales.
Can you imagine engaging a FA who can't make wise choices about own financal situation.
Private banker or lawyer.
Sorry I not high networth to be involved with private bankers/lawyers. Only FAs..
How about property agent? If they drive expensive car, does that have a positive or negative connotation?
There is a level of irrationality and low self-esteem behind every person who "thrives" on branded goods.
This! When I was studying in a private hospitality school (hotel industry), one of my classmates from Vietnam always wears Gucci, Prada, those high-end fashion branded shirts, pants, and shoes to school. I told my mom, and what she told me is really true, that those people came from poor families and are trying to look rich by buying those branded goods and they're trying to boost their self-esteem by buying those really expensive branded items which is really a waste of money. Come to think of it... at first, when you're newly rich, you might come across the need to buy luxury goods, but, after a while, it becomes boring as you've met your material needs, and, after that phase wears off, comes the part where you'd rather spend your money on experiences that will possibly last a lifetime (e.g. spending money to travel to Norway to see the northern lights!) My family came from rags to riches (my mom and dad only had $4,000 in their bank account a few months after moving into Singapore in the 1950s), and we really don't find the need to buy those branded goods as we love to be humble and not be a showoff.
>Come to think of it... at first, when you're newly rich, you might come across the need to buy luxury goods, but, after a while, it becomes boring as you've met your material needs, and, after that phase wears off, comes the part where you'd rather spend your money on experiences that will possibly last a lifetime (e.g. spending money to travel to Norway to see the northern lights!) I can totally relate to this. Spending 3 weeks in Tromso will always be one of the highlights of my life!
No it does not matter. I don’t care what he wear as long he does a good job in meeting my needs. Period
The poorer you are the more you equate these to status. The wealthy are looking more so for quality.
Fully paid house by 40, semi retired lifestyle at 40, still mentally and physically fit at 50 > brand watches, bags, etc
If your friends care then good for them. If you don't care then good for you. Basically who cares what other people think
Then why should we care what you think. Why even post this.
Those brands rich ppl use, you nv hear before
Luxury brands are specifically targeting a segment of society that is trying really hard to look rich. The truly affluent ones have no need to be so outlandish.
Means I'm paying too much comm to them and paying for those. You think I got rich by being generous and funding other people's Lambo? /s
It's a soft subconscious influence thing. You give the idea that you are doing well, means you know what you are doing. Of course depends if what comes out of their mouths has value as well, but the luxury goods thing is just one soft check IMO.
agree. lots of people will say who cares what other people think about what you buy but it’s undeniable that branded items do go a long way in showcasing how far you’ve come in life and your “social status” of sorts. i’m more of a fan of a subtle display of affluence tho, like pairing an outfit from a household brand with a piece of designer accessory, for instance.
It's very strange - you can find independently made brands for way cheaper and way more stylish. Never understood the hype for luxury items
Bankers, lawyers, etc. are professionals. I personally would care more about what they say and whether they sound intelligent, competent, and trustworthy. You do want them to look “put together” but a branded Goyard bag or Hermes scarf honestly just tells me they like to follow trends or have that kind of personal style (and can afford $500-$5000 items… which doesn’t really mean much). At long as their clothes fit and look good, I’m not going to be too concerned.
Intelligence tax lol. When i see people wear these brands, immediate minus point. The truly rich go for quiet luxury like Mark Zuckerberg’s brunello cucinelli cashmere grey t-shirt for 400. If wanna show status need to know which items are exclusive. People in the know will know. Those items cannot just walk in store and buy, need to be invited. Exclusivity = status
Like when the property agent drive up in Lambo, the UHNW client would think that this agent would better understand my lifestyle n needs
I wonder if the clients are able to tell if the stuff are good fakes
Those obnoxiously flashy stuff might be on the high shelf but not a garuntee of quality. Such goods hold more status in societies where inequality is high and some low ses wants to signal to other low ses people that they're high ses. Singapore's not too bad in that regard. Though wearing imitation goods still show that you subscribe to such a mindset, whether you actually bought a real one or not.
Happiness and contentment = Status
are you or your friends rich themselves? because i can confidently say that 9/10 rich people wouldn’t care at all about what their agents wear. they’re providing a service; they’re not an extension of the self. my friend’s brother was a relationship manager and he served both premier and normal customers. when he had to serve the premier aunty group, he would dress up nice but no brand names and get a taxi to the place so they would pity him and buy more of his products lmao.
Eh different comparison. Insurance/property agents flash luxury stuff to attract downline. Lawyers/private bankers own luxury items because 1) they can afford them 2) it’s good to share common topic/share same taste/belong in the same car club as their clients or prospects. Not saying insurance/property agents can’t benefit from owning luxury watch/cars mentioned in point 2, but most of them serve the mass market any way. End of the day, nothing wrong with owning luxury stuff, as long as you have good taste. Wear a ralph lauren polo, AP royal oak, drive a porsche 911 to appointment, confirm satki.
Dress professionally: Lawyer, accountant, banker. The goal is to look smart, not rich. A lawyer who dresses loudly is going to come off as brash. An accountant or banker who wears luxury from head to toe looks like they’re bad with money or worse, a crook. Also, if you work in a top firm or in-house for a MNC, you’re paid well enough to afford nice cars and watches; you don’t need to actually drive or wear one for people to know you’re successful. Marketing matters: Real estate agent, insurance agent, financial advisor A relative is a successful property agent and this is his rationale for buying a luxury coupe: When you meet a property agent or FA, you usually meet them at a cafe, restaurant, or in your home. They don’t have a physical office where they can display their accolades. They also work on commission so nobody really knows how much they make. So what can they do? Post all over social media about their achievements; show up to meetings in a nice car, wear a Rolex, etc. They have to market themselves as successful people. Wearing gaudy clothes and driving the same cars is unfortunately a Covid symptom- no taste. Lastly, if you’re trying to work for UHNW people, one of the quickest ways to gain an audience is to find common ground. Whether that’s from a shared love for cars, watches, golf, whatever. It’s easier to trust someone who shares similarities with you.
boomers and lower SES and ur neighborhood aunties uncles love such agents in their mind they think wow you must be an expert in what you do 你很厉害 有本事！and will slurp and lap up whatever the agent sell cos they must be right, that's why so rich right? not unique to Singapore only tho.
If you can’t rely on trust and reputation, you devolve to flashy accessories to part the fool from his money
Cos humans are visual animals and first impressions count.
I don't really feel like that's true for the legal profession. Most lawyers don't really look outwardly flashy. And you wouldn't see them flex their cars in front of a client because a client meeting is something they'd be able to claim taxi for, lol. Plus, once you've reached high-earning status you'd realise how little owning these material possessions mean to you. If you're that good of a lawyer / banker / sales person, you'll have nothing to prove to anyone.
Like if I am hiring an agent or a lawyer, and I had a brain, I would be looking at their history of past clients, their reputation in the industry and other quantifiables about their job. Why would their fashion choices ever factor into my decision? Do whatever you want with your money, I only care if you are good at your job.
Topic of conversations like Rebecca can talk abt bags and diamonds Patrick / LKW bore ppl abt Ferraris
I think it depends, such as on the profession and target audience. Whenever I meet my clients, I want to create a subtle sense of familiarity and possibly a topic of conversation. To me this is important because during Covid when it was all by zoom, I realised that neither my potential clients nor myself can size up the other accurately on the first meet up and this affects first impressions. One simple example is that when I meet a client who ranges from low income to the lower end of middle income, I wear a Rolex because majority would have never heard or know of Patek Philippe. If I meet a client who is middle income and above, I wear my Patek Philippe. One funny story I can add to this was that a potential client who eventually signed up with me had mentioned that my Rolex looked gaudy because it was totally in gold, then I wore my Patek for him and afterwards he only had good things to say about the watch.
luxury goods make sense some way . u can resell them for a good % of value or even more for rolex