Aspiring private banker Lam Jing Jie
The birth of a passion
While on National Service, BBA Year 3 student Lam Jing Jie began to develop an interest in finance and market analysis. This quickly turned into a passion as he derived excitement from observing how global news, economic indicators and events moved financial markets. While students have access to finance-related resources in NUS BIZ, Jing Jie soon realised that the information needed to excel required tedious research. At the same time, he also observed that Asian millennials are becoming more independent in financial decision-making, and less likely to seek advice from financial advisors. Whilst the internet holds a wealth of relevant information, Jing Jie found that his peers were interested to learn about personal finance management but did not know how to apply the information. This prompted him to start building a community of like-minded peers who tap on on each another’s networks and insights to make wise investments.
Establishing NUS Wealth Management
Starting out as a member of the NUS Invest club, Jing Jie met and teamed up with fellow NUS BIZ student Daryl Ng to start a Wealth Management Interest Group. The duo then roped in more peers from NUS Invest Club and other clubs to eventually form a functioning executive committee. Their vision is to cultivate a pool of fresh and competent talent who can add value to private banks and family offices. The interest group got off to a roaring start, receiving an overwhelming 140 applications. But Jing Jie hopes to take modest steps forward by recruiting 20 to 30 members for its inaugural batch. While it was not easy turning down 80 per cent of the candidates, Jing Jie recognised the importance of starting out with a more tight-knit, focused community. The selection experience also taught him to take his own internship interview rejections in a constructive manner. He learned that a rejection did not mean he was not good enough, but rather that he was not the best fit to the role or organisation.
Lam Jing Jie (front row left) and his executive committee
We understand that networking is extremely vital to succeeding in the private wealth industry, so we aim share the network that we’ve already built with our members to give them a leg-up.
The power of mentorship
Jing Jie credits the Business School for building his confidence as a public speaker and professional networker, two crucial attributes he believes are required in relationship management. The NUS BIZ experience also trained him to stay hungry and driven.
He also emphasises the importance of having strong mentors, both within the School and in the industry. Jing Jie attributes the successful launch of his interest group largely to the support of Dr Helen Chai, Assistant Dean and Director of the BBA programmes and finance professor Dr Lee Hon Sing. He was also fortunate to receive valuable mentorship from Mr Joel Lim, a former Managing Director at Julius Baer Private Wealth Management.
“Joel’s advice on trading FX and commodities was short but impactful – stay off greed, avoid behavioural biases, and trade patiently with high conviction. Pennies make mountains. Instead of gunning for the swift wins, be disciplined to yield smaller returns with several trades.”
Through this journey, Jing Jie has learned that success in private wealth management is not won by speed and greed. Instead it is achieved by patience and sincerity in growing relationships, and diligent focus on the journey, not the end goal. This attitude and principle has paid off with him and his group mates recently clinching the top prize in the 2020 J.P. Morgan Asset and Wealth Management Challenge.
Lam Jing Jie (second from right) and his competition group, Regent Wealth Management
