WHEN it comes to managing different aspects of our lives, we often seek the help of professionals. Whether it’s our health, education or legal matters, we trust experts to guide us with their knowledge and experience.
When it comes to our finances, however, many of us choose to navigate this crucial area alone. Just as we wouldn’t hesitate to consult a doctor for medical concerns or an architect to build our home, it’s essential to recognize that managing finances effectively requires the expertise of a financial professional.
This is where a financial planner comes into play. The architect builds your home, your teacher molds your mind, your lawyer gives legal advice, and your doctor takes care of your health.
But who, then, takes care of your financial health?
Each professional — the doctor, the lawyer, the teacher, the dentist and the architect — all have studied and trained in their field of specialization to provide for the specific needs of our society. They are professionals as they put the best interest of their clients — and patients — above themselves, unbiased in giving the best services and advice.
While each of us has our own dealings with them, most of us leave just to ourselves the most intimate and important aspect of our lives — our money. If we put the care of our home, our body, our health and our lives in these professionals, shouldn’t we also put the care of our finances to professionals?
What architects are to houses, teachers to minds, lawyers to law, and doctors to physical health, financial planners are to financial health.
Let us go back to the question earlier.
Who, then, takes care of your financial health? The financial planner.
The financial planner is the professional who “provides sound, coordinated financial advice to individuals and their families.” Money matters-wise, the financial planner would be your bet. The financial planner has studied and trained in personal finance, giving objective, unbiased advice and professional service to his clients. Having studied personal finance, the financial planner is knowledgeable in its different areas. Being unbiased, the financial planner rigorously seeks solutions and products in the market that would best achieve the client’s financial objective — without preference or loyalty to any financial institution or product. And as a professional, the financial planner upholds and seeks the client’s needs and best interest first, continuing to educate himself, thus improving his competence in personal finance.
Everyone can study personal finance, but not everyone is a certified or registered financial planner. A professional financial planner is a part of a body of professionals giving studies, training and expertise in the field. Being certified means that the financial planner has undergone sufficient training, has the necessary knowledge, and upholds a code of ethics of the practice.
When choosing your financial planner, ensure that s/he is certified with organizations of good repute.
As the profession totally dedicated to your financial well-being, the financial planner gives you advice on the following specific areas: cash flow management, investment planning, insurance planning, tax and estate planning, education planning, and retirement planning.
But is there really a need for a financial planner? Can’t each person be responsible for his or her own finances? Yes, each person is responsible for his or her own finances. But there is a need for expert knowledge and advice on how he or she would do it.
Imagine having a dedicated financial planner up-to-date with the latest economic trends and knowledge, able to steer your finances and investments through the rough sailing of economic up-tides and downturns, or design an insurance plan that would leave your family safe and secure should anything happen to you or someone who would help you craft, plan and realize your dream retirement lifestyle.
Imagine, then, not having to worry about your finances at all. That is what a financial planner is all about. Too often, people go to the doctor in the midst of illness, just to find out it is too late or it could have been averted.
Would we let this be the same with our finances?
Just as we trust doctors to care for our health, lawyers to handle our legal affairs and teachers to guide our education, we should recognize the importance of entrusting our financial well-being to a professional. A financial planner provides the expertise, objectivity and dedication needed to help you navigate the complexities of personal finance, ensuring that you can meet your financial goals and secure a prosperous future. Don’t wait until it’s too late — start planning for your financial health today with the guidance of a trusted financial planner.
Rienzie P. Biolena is a Registered Financial Planner of RFP Philippines. He is also a Chartered Wealth Advisor (CWA) and president of WealthArki and Consultancy, a financial planning firm. Learn more about personal financial planning at the 108th RFP program this October 2024. To inquire, email [email protected] or text to 0917-9689774.
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