Each one of us are traversing a unique path, even our income can’t be the same down to the last centavo. In the same way that every household expenditures varies. That’s why all of these details should be discussed and put into consideration when you are ready to meet your FA.
After several sessions with Pesos and Sense founder and financial coach, Mr. Aya Laraya, “I’m now ready, so what’s next?”
State your expectations
Think of yourself as an employer who would want to grow your business. Ideally, you would look for a dependable employee who would be willing to learn the landscape of your company in order to do his job well. Your FA should be willing to do the same and learn the ropes of your lifestyle in order for him to address your financial needs.
Vet on you FA
Validate the company your FA is representing and check on its credentials. It would be a lot easier if you’re dealing with a reputable company such as Sun Life Financial, since its track record highly speaks for itself.
Gone are the days when having a half day seminar on insurance can merit one to be a financial advisor. So check if your FA has a valid license:
- For Stock Market – Certified Securities Representative (CSR)
- For Mutual Funds – Certified Investment Solicitor (CIS)
- For Life Insurance- Certification for Life/Non-life/Variable/Health
Subsequently, you may need to ask mutual question to your FA, such as:
1. How he is being compensated from this engagement?
- You may not want to indulge on an FA who wouldn’t want to discuss his compensation with you. Whoever thinks that this engagement is a one-way street should set you bolting out of the door.
- I wouldn’t feel comfortable talking to an FA who recites from a script. I might as well ask for an email direct from the financial company and read them myself.
- Though this may not be a strict requirement, it would be more convincing if my FA patronizes the product he is offering.
- It would best if your FA is within the same geographical location as you are, as there will be times when email or phone conversation will not suffice.
- Ask if he is comfortable getting calls or text messages beyond office hours. (Tip: Don’t indulge on an FA who is strict about his working hours).
I will keep you posted on my search for an FA, but I am pretty sure that I am betting on Sun Life Financial for my investments.
For more on Sunlife Financial and Money For Life, visit them 2/F Sun Life Centre, 5th Avenue corner Rizal Drive, Bonifacio Global City, Taguig City or visit their website: www.sunlife.com.ph for more details.