Finding self-fulfillment and financial security on the job

Danna Peña

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Finding self-fulfillment and financial security on the job
For Jeffrey, Aron, and Lorenzo, being a financial adviser is not just a self-serving stint

MANILA, Philippines – Can a career in insurance provide you growth, security, and self-fulfillment? We interviewed three financial advisers to find out.

“Why do you look towards other countries for greener pasture when we have all that here?” asks Lorenz, a 38-year-old former Internal Auditor who used to be based in Doha, Qatar.

While he was in Qatar, that question came to him while he was reading a book called “Acres of Diamonds.” He then realized that being away from his family won’t get any easier, so he packed up his belongings and decided to head home.

As an Accounting graduate with a knack for sales, he ended up finding his calling in the life insurance industry. Lorenz has been a successful bancassurance financial adviser for five years now.

Nung nag-start yung training ko sa Makati, nakita ko, ang laki ng pagbabago (When I started training here in the city, I noticed a huge change),” shares Aron, former Marketing and Operations head for a Lucena-based company. More than the physical environment, the biggest difference she noticed was within herself.

“Whenever I talk to my friends now, I realize how much I’ve matured,” she explains in Filipino. “I tell them, ‘Once you get your pay, save it and don’t spend it right away!’ to which they shockingly reply, ‘Aron! Is that you?’”

Besides being a mother of two, 39-year-old Aron also helps her mom and her ten siblings. She has been a financial adviser for six years and has earned her own share of notable citations.

“I’ve gone through plenty of jobs,” Jeffrey, 27, shares. “Dati, di ko alam talaga kung anong gusto kong gawin at kung magtatagal ako sa previous jobs ko. Ang dami kong hinahanap (Before, I never really knew what I wanted to do, and I wondered if I would last in my earlier jobs. I was searching for so many things.)”

Jefferey recently purchased his own car – a symbol of career success among his age group. Constantly expressing a desire to help people avoid his past mistakes, which involved mindless spending and constant splurging, he now wishes to inspire today’s young professionals to be mindful of their finances.

An engineer by profession, a former BPO employee, he has now been a bancassurance financial adviser for two years. 

 

 

 

BACK TO HIS ROOTS. Lorenz left his job as an Internal Auditor in Qatar to establish a fruitful career as a bancassurance financial adviser in the Philippines. Photo by Martin San Diego/Rappler

A cycle of learning

Being a bancassurance financial adviser entails having a sense of compassion, understanding, and up-to-date knowledge about current market trends.

For Lorenz, apart from the insurance sales training and mentorship programs he enjoys at BDO Life, he makes it a point to attend external workshops to maintain his edge. To keep his knowledge and skills relevant, he reads business publications daily to stay updated about the global economy and the financial industry. This, too, helps him better understand his clients’ needs and provide them with relevant advice.

“Our work as Bancassurance Financial Advisors requires us to operate within a bank branch. Different bank branches have varying client demographics,” Jeffrey says. “I get to meet clients who are older and are quite established in their careers.” 

Jeffrey sees to it that his young age isn’t equated to lack of wisdom. That’s why he attempts to keep learning and building his knowledge to gain his clients’ confidence.

What they learn from their own life experiences also gets passed on to their clients. “My father died when I was five years old,” Aron shares. She recalls the financial difficulties their family had to undergo during that time. Finding a place to bury their father was one thing, paying for his funeral service was another. This experience drove Aron to influence clients to plan well in order to save their loved ones from going through similar circumstances.

Ang sarap ng feeling na nakakatulong ka (It’s such a great feeling knowing that you’re able to help them),” she shares.

 BREADWINNER. Aron, mother of two, also provides for her family of 10 siblings. She has been a financial adviser for six years. Photo by Martin San Diego/Rappler

Driving passion

Aside from the material rewards they enjoy as successful financial advisers, Aron, Lorenz, and Jeffrey are proud of how their careers have molded their values and enhanced their positive outlook in life.

“Being in a position to offer expert financial advice that makes a difference in people’s lives helps me see life more optimistically,” Aron shares.

THRIVING. Jeffrey, 27 years old, pursued numerous paths before arriving at what he proudly calls his dream job. Photo by Martin San Diego/Rappler

Filipinos are “not very open-minded” about insurance

According to the S&P Ratings Services Global Financial Literacy Survey conducted in 2015, the Philippines falls behind its South East Asian counterparts, with only 25% of the adult population considered as financially literate.

Jeffrey agrees that Filipinos have a long way to go in terms of achieving financial literacy. Having previously worked in the BPO industry where he was exposed to clients from abroad, he noticed how Filipinos in particular “require a lot of convincing” before agreeing to purchase insurance.

According to Aron, one of the keys to educating Filipinos is to share with them the benefits of life insurance through real-life experiences. In one to three minutes, she says that financial advisers should already be able to identify the client’s needs, secure their agreement, and recommend an appropriate insurance solution tailored for them. Sharing real-life experiences that the client can identify with helps clients appreciate the value of protection.

To assure clients that he practices what he preaches, Lorenz tells them that the people who matter to him – acquaintances, co-workers, branch colleagues, and most importantly, his loved ones – have all secured some form of coverage through him.

For Lorenz, being a financial advisor is not just about closing sales and hitting targets. More than anything, it is about preserving the financial dignity of the families of fellow “kababayans” through financial education. “That my work enables me to meet the needs of my own family is the icing on the cake,” he shares.

For Jeffrey, he considers the financial adviser career as his dream job. “There is nothing more fulfilling than seeing my hard work bear fruit through the lives I’ve touched and the personal goals I was able to realize. After years of being in different careers, I’ve finally found the one I truly believe in. I have found my calling,” he says. – Rappler.com

Take that step in fulfilling your purpose in life while helping others achieve their dreams. See BDO Life’s Financial Advisor career opportunity here. 

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