How to find the Financial Advisor suitable for you?

4:17:00 PM

I'm not getting any younger and my kids are starting to grow up really fast. This made me realize how important it is to start saving for my family's future. Unfortunately, I have no idea where to start but thanks to Arnel Bautista and Brian Macasa, I was given the chance to attend SunLife's #Money4LifeChallenge: Choosing a Financial Advisor conducted by Pesos and Sense's Aya Laraya.

Actually, I should've brought my hubby with me during the seminar because he has more knowledge than me when it comes to financial management because his brother works on that field. This could've been a great opportunity for us to both learn about where we should invest and who we could trust in managing our money.

Mr. Aya started the lecture with the question "How do you choose a profession who will work for you?"

  • First, you should know what you are actually looking for
  • You then must know if they are truly capable of doing what you require them to do
  • Lastly, you should be sure of what you really are looking for because a Financial Planner is actually a broad term without a clear standard. To clarify who you exactly need, let me break down the professionals and what they specialize on:
1. Real Estate - Realtor (for purchasing of property) or an Appraiser (sets the value for a property for sale).
2. Stock Market - Certified Securities Representative
3. Managed Funds - Certified Investments Solicitor

After figuring out what you want to focus on, in my case, I am very much interested to learn more about Managed Funds (based on what I've learned during the lecture), I have to find a Certified Investments Solicitor. Once you find the proper professional that would help you in your financial concerns, you must:
  • Clearly state your expectations but make sure that it is S.M.A.R.T (Specific.Measurable.Attainable.Realistic.Timebound)
  • Vet Agent - You must verify the company that your financial advisor is under and if their license are indeed what they are projecting in the company. You must also verify your financial advisor's license.
  • Ask questions with regards to his or her professional experiences, personal experiences, preferred clients, compensation scheme or fee structures and limitations.
  • Never ask about his/her income, discounts and guarantees.
  • Make sure that you take time in conversing with your financial advisor so that you may know your compatibility, whether you feel that he/she is trustworthy and someone you feel comfortable with talking about your financial concerns
Once you find the Financial Advisor suitable for you, start planning your specific goals with the help of your advisor so that you would be able to make smart financial moves that would result to a more controlled future. You should also be transparent in conversing with him/her because it is just like consulting with a doctor, you should always tell accurate information about your problem/concern so that he/she can provide the best solution. 

Again, in finding the Financial Advisor for you, keep in mind the competency of the person you will work with, make sure that you feel a compatibility whenever you are conversing, you should have a mutual agreement with regards to the cost and accessibility should never be a hindrance.

photo taken by sir Arnel Bautista
If you want to learn more about this topic and for those who are looking for a Financial Advisor, you can visit Sunlife Philippines Website and they will be very happy to assist you.

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