I am not sure why, during such terrible economic climate like this would financial planners be actively employing. I mean who is really gonna spend money on investments products at this climate? Many of those who has got buckets of cash to burn might, but ordinary folks are definitely spending much more time thinking about how wisely to spend their money. And I think unless you have a keen interest in educating the public on financial planning and not purely interested in the amount of wealth it can bring to yourself, it is an avenue to explore. Otherwise, I think its just going to be a really demoralizing and time-wasting experience – as a career path.
Personally, I am a believer of insurance and financial planning. I am keen to know how my money can grow at supernormal rates that can compensate me for the inflation that makes me poorer as time goes by. I want to be like Robert Kiyosaki, to have money working for me instead of me working for money. I want to be secure and have a comfortable retirement after 30 years of working. Who doesn’t want them, anyway.
But I simply cannot bring myself to listen on to what financial planners has to offer me. Its such a turn off most of the times. While they take pains to explain to you what their plan A and plan B can do for you, the bottomline is still – they are merely salesmen. To my dear financial planners out there, to really be a good one, I honestly think you should know how to draw the line between good marketing and hard selling. Its such a turn off when its all written from your words and actions that all you want is for me to sign on that freaking dotted lines and get myself committed for the next 25 years of my life. And I’ve grown to believe that hardselling is the reason why when Lehman collapse, so many people who could retire rich found themselves poorer by half.
I know some of my friends who are doing really fantastic as financial planners. I really have no prejudice against the proffesion. I once was inspired to be one, to share knowledge on how to plan one’s finances and how different instruments (of course with varying level of risk) can be balanced and make your money grow. But at the end of the day, I am not a sales person material. I am not one who loves working towards quota and statistics… I believe in being nice and let people have things their way. Thats why I prefer being in the service sector than the sales proffession anytime!
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Recently since my graduation, I have had several offers from financial institutions. One of my friends were doing pretty well, he has went on to set up his own agency and training his agents. He did approach me to join him but I politely declined. Which he respected and have never bugged me again. See, how nice things can be when we respect what each other wants!
One company called me up for an interview once. The position was “Business Development Manager”. So I thought I could give it a try. BUt the catch was this – the company was really dubious. They made no mention of the company’s name when they called me for an interview. Then they do not want to reveal their company’s location to me. They told me their company is at Fuji Xerox Tower and I can call them when I reach the lobby. What nonsense? After a long hesitation, I called the company and the poor HR girl reluctantly revealed that yeah, it is a financial planning position. I pulled out from the interview 10 minutes before the apppointment was up. You see, I was really afraid, once I enter the office, I couldn’t make it out alive!
At the education fair, I met this guy. He probably owns an agnecy himself and was out on prowl for new agents. He started his blah blah blahs on me and asked for my contacts to go to some seminar. Fortunately for me, before the seminar was up I already found a job. But he was not very polite after that I feel. While he did not blow up at me (and he has no rights to), his words were peppered with sarcasms. I told him I am now very pre-occupied with my present commitments to think too far ahead and will be giving this seminar a miss. He went on blabbering that I should have some dreams and what nots. Then I said, I am a very laid back person by nature. And he freaking retorted “You sure you are laid-back, not lazy?” WALAU EH!! Angry leh! Lesson: Some people just don’t deserve to be treated nicely. You got to yell at them sometimes!
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Seriously after writing so much, I am still positive about financial planning. The product is good, but the planner really need to have the customers’ interest at heart and not the dollars and sense that he/she can get out of it.This is one reason why I would really stick to one whom I am most comfortable with.
Hardselling is so passe. Don’t let it eat into your character. It pisses people off – in EVERY way! From being a potential customer, to being a potential employee; I just think this industry has so much spring cleaning to be done about its projected image.
At the end of the day, its a long term commitment.
The customer has to wait some years before he break even. And the shorter the term to achieve higher returns, the higher the risk. And before future returns become a reality, he is gonna make an immediate loss (due to all the admin fee) once he sign on the dotted line.
Other than harping on the posibility of financial freedom to every potential agents out there, kindly find some kindness in your heart to understand that the new agent is going to eat grass for the first few months. The going is be damn freaking tough and there’s no freaking guarantee on financial freedom – so don’t harp on it. Respect the fact that even in financial planning, there’s this thing called JOB FIT. Oh I forgot, seriously even if the agent is gonna eat grass for the first few months doesn’t really matter to the management. The poor agent with no basic pay gets by with little commission in his initial years, but the sales that he gather benefits the agency no matter what. -DUH!-
okok, dun answer me if your answer is No. I will just pretend no one read my blog and continue writing! LOL!
*Awwww… please don’t tell me I am supposed to abstain from them?! A few sinful calories won’t do much damages!* heheh!
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