What type of services do financial advisors provide?

Toni: I would say, you know, a common question that's in line with that is, do people really need us? And that's a common question that I get, even on TikTok. Come to think of it, today, the most common problem that we see is that people have, you know, there's a lack of financial education. I mean, you can admit that they don't really teach personal finance in schools, or at least in my school, they don't. And number two is that they don't have a financial game plan. And then number three is they don't also have their own financial coach or a financial mentor.

So we can all agree that people need guidance when it comes to their finances. And I would say that there are times wherein, you know, a lot of financial advisors, they’re a number of them just push products. Right? But you know, that should not be the case. And in my team, we’re trained to do it the right way. So what we do basically is, okay, let me visualize it. So there's this point A which is their financial situation now, and then their point B. So part of our jobs is to know what their goals are. How can they reach from point A to point B? Or how can you bridge their gap?

So when clients approach me, they're looking for something bigger than what they have now. It's either insurance, educational planning, or health insurance or retirement funding, and all of that. So there's always a gap. And most of the time they don't even know it. Like, let's say for example, when I do a policy review or when I tell someone that, okay, do you have insurance? You'd be like, okay, I have a policy already. But then when you do the calculations, when we do the numbers, you can see that sometimes there's a gap. They actually need like 3 million coverage for their whole family, but they only have one million.

So in other words, we help clients reach their goals. We help them bridge the gap between point A and point B in a sense, you know, you can see us as financial doctors. So right whenever you go to a doctor, doctors ask questions and then from there on, they make a diagnosis. So it's the same for us, right? We ask questions and if the clients give us the right data, then we can give the right recommendations. Because our rules at the end of the day are to help them reach their own financial goals and identify those gaps.

Now, to be specific about the services, as I've mentioned, we do insurance planning, we do educational planning, investments, we also do debt management, and even tax planning. But there are also other financial advisors that offer more services. So there are financial advisors who are also accountants. Or there are also financial advisors who are lawyers, right? So you can also get extra services from them. And, you know, it really depends on every financial advisor. So those are the services that financial advisors usually offer.

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