For many people, wealth is measured by the size of their bank account. For Ivan, true wealth goes far beyond financial accumulation. As the founder of Impact Wealth Advisory (IWA), he believes financial planning should empower people to live with clarity, purpose and confidence rather than simply focus on buying financial products.
After years in the financial advisory industry, Ivan recognised that many individuals and business owners were financially busy but lacked a clear strategy for achieving meaningful life goals. Through an education-first approach, he now helps clients build financial resilience, preserve family legacies and use wealth as a force for lasting impact.
What inspired you to start Impact Wealth Advisory, and what gap did you see in the financial advisory industry?
Impact Wealth Advisory (IWA) was founded on the belief that financial advisory should transform lives, not simply sell products.
After many years in the industry, I realised that many people still associate financial planning with insurance policies or investment products. In reality, money affects every aspect of life, including family, business, retirement, health and legacy.
The real gap was not a lack of financial products, but a lack of clarity, trust and education. Many clients were financially busy, with multiple policies, investments, CPF savings, properties and loans, yet they did not know whether everything was working towards a meaningful outcome.
For business owners, the challenge is even greater because personal wealth, business continuity, key person risk and family legacy are closely connected.
That is why we built IWA as an education-first advisory. We believe in purpose before profit, values before products, clarity before complexity and stewardship before sales. Wealth is not just about accumulation. It is about building a meaningful and impactful life.
Many people see wealth as simply accumulating money. How do you define true financial freedom?
To me, financial freedom is not the ability to buy anything you want. It is the ability to live according to your values without being controlled by fear, debt or other people’s expectations.
I see financial freedom in three stages. The first is survival freedom, where your basic needs are covered and financial emergencies do not destroy your life. The second is choice freedom, where you have the flexibility to make decisions about work, family and lifestyle without constant financial pressure. The third is purpose freedom, where your wealth allows you to support your family, give generously, build businesses and leave a meaningful legacy.
Ultimately, money should be your servant, not your master. True financial freedom provides peace, dignity, choice and the ability to create lasting impact.
What are the biggest financial mistakes you see individuals and business owners making today?
Many individuals confuse income with wealth. They earn good salaries but remain financially vulnerable because their spending grows with their income. Others delay important decisions such as insurance, investing or estate planning until it becomes too late.
For business owners, the biggest mistake is assuming the business will always run smoothly. Many neglect succession planning, business continuity, key person protection and liquidity planning for their families.
Another common mistake is mixing personal and business wealth without proper structure. A profitable business does not necessarily mean the owner is financially secure if all their wealth remains tied up in the company.
Good financial planning is not about predicting the future perfectly. It is about building a financial system that can withstand life’s uncertainties.
Why should succession planning begin long before retirement?
Succession planning is not a one-time event but an ongoing process of preparing people, leadership, ownership and values for the future.
Many people think succession planning begins with writing a will, but by then important decisions may already be too late. For business owners, it affects leadership, ownership, family harmony and business continuity. For families, it helps preserve wealth, protect vulnerable dependants and reduce future conflicts.
Starting early provides more options. It allows families to structure ownership, address liquidity needs, establish trusts where appropriate and clearly document their intentions.
Succession planning is not just about passing on wealth. It is about passing on responsibility.
What leadership lessons have you learnt from building and leading a team?
One of my biggest lessons is that leadership is very different from ambition. Ambition gives you a vision, but leadership requires patience, emotional maturity and the ability to guide people through uncertainty.
When I first built IWA, I believed recruiting talented people and sharing a compelling mission would be enough. Over time, I learnt that people also need clear structures, support and a defined path for growth.
Leadership has also taught me that everyone has different strengths. Some excel in education, others in sales or operations. My role is to place people where they can contribute best.
Ultimately, leadership is about building people, trust, culture and values that will outlast your own presence.
If you had a choice between five more years of life with just enough to meet your needs or one year to live with one million dollars, which would you choose and why?
I would choose five more years with just enough to meet my needs.
Time is far more valuable than money. Five more years would allow me to spend meaningful time with my family, continue serving others and create a greater impact.
Money is important, but time is the true currency of life.
What is your vision for Singapore in the next five years?
I hope Singapore becomes not only more prosperous but also more compassionate.
Economic growth is important, but we should also measure success by stronger families, resilient businesses, empowered communities and greater financial literacy.
I believe wealth creation and social impact should go hand in hand. If successful individuals and businesses use their knowledge and resources to uplift others, Singapore will become not just a richer nation, but a stronger and wiser one.
If you could have a superpower for one day, what would it be and why?
I would choose the ability to let people immediately experience the long-term consequences of their decisions.
Whether it is spending habits, financial planning, business decisions or acts of generosity, seeing the future impact of today’s choices would help people make wiser decisions with greater clarity.
I believe that kind of perspective would transform many lives.
Connect with Ivan: ImpactWealth, LinkedIn and Facebook.
