Financial planning is not as big an industry here as it is in other countries, where it is an independent profession with board certification. In the Philippines, financial planning is mostly given as a service by banks, insurance companies, investment companies, accountants, tax lawyers, and stock brokerage offices. However, the scarcity of independent financial planners means that advice may come with endorsements of the products being marketed by the institutions that offer this service. The wise investor thus needs to sift through all possible options before committing to invest in a product.
A financial planner is someone who can give you advice on matters related to saving, investing, taxes, insurance, household money management, real property management, and retirement. His main aim should be to help you, and not sell you something from which he can earn a commission.
Read on for more tips on finding the right financial advisor for you.
Read these other articles for more financial tips:
- Maintaining a Money Mindset: 6 Ways to Think Rich--and Be Rich
- Be Money Wise: 8 Money-Saving Schemes Anyone Can Do
- The Right Way to Budget
- 10 Business Commandments Every Budding Entrepreneur Should Follow
(First published in Good Housekeeping Magazine, Money section as "Money Watch" in March 2006; adapted for use in Female Network)
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