Beneficial: (clockwise from top left) Hazim, moderator Annie Tan, Tan and Ng speaking during the recent ‘Finance Advisory - A Road to Freedom’ webinar jointly organised by The Star and Manulife IM (Malaysia). For Hazim and Tan, helping clients navigate their way towards financial freedom and achieving their own has been incredibly rewarding.
PETALING JAYA: It is often said that financial advisors can help you save a lot of money in a world of confusion and noise as they offer expert advice to help you chart a course for your financial goals.
For Hazim Najmi Kosai Mohd Zihin and Cannie Tan, it has been incredibly rewarding for nearly two decades now as they help navigate their clients towards achieving financial freedom and at the same time achieving their own.
No doubt it took Tan a while before deciding to become a financial advisor after she quit her well-paying job because of work-life balance issues but she has never turned back.
“I had a choice and choosing to become a financial advisor was the turning point in my life,’’ said Tan, who is Manulife Investment Management (M) Bhd unit trust managing advisor.
Tan has over 15 years of experience in the unit trust industry. She co-leads the biggest agency in Manulife IM (Malaysia), Buffalo Investment Agency, which has 320 advisers and manages the group’s total net asset value (NAV) of RM820mil currently.
Initially, she was worried that she would lose friends if she turned to them to offer financial advice.
But it all turned out to be an enriching journey for them and it strengthened the bond not just with friends but her clients too.
“I am here not to make money just for myself but for my clients,’’ she shared during a recent webinar session “Finance Advisory - A Road to Freedom’’ jointly organised by The Star and Manulife IM (Malaysia).
Similarly, Hazim, who was involved in audit work, decided to get involved in the unit trust business after years of investing in unit trust.
“It has been many great years since. The best part of being a financial advisor is that I get to meet a lot of people who ask for guidance to manage their money. It is about making friends and making their lives happier for them,” Hazim said. He is Manulife IM (Malaysia) Unit Trust managing advisor.
He said there was a client whose account he managed and after seeing his portfolio grow, the client decided to join the unit trust business.
“That is all about being a financial advisor, helping others grow their wealth and at the same time you are able to grow your wealth,’’ Hazim added.
Manulife is a 130-year-old company that provides financial advice, insurance and wealth management solutions. It has been in Malaysia for many years. Financial advisors are experts who can help people articulate their financial goals and anyone can benefit from financial advice, not just the rich and famous.
Anyone can be a financial advisor, including retirees, according to Manulife IM (Malaysia) Retail Wealth Distribution head Ng Chze How.
“It is a business of networking. You will be well-trained and well-supported by our team and our wide range of products. We also have our digital platforms that can get you into the business,’’ said Ng.
Fear not about crunching numbers as the systems are in place and sufficient training and support will be provided on how to invest into markets and create financial portfolios for clients, Ng added.
Anyone above the age of 21 years who has completed SPM with three credits can be a financial advisor. Tutorial classes and guidance will be provided to enable them to sit for the exams necessary to become a financial advisor.
As Manulife IM (Malaysia) is a global company, it has wide exposure to local and global investment products for clients to choose from to build their financial portfolios.
Still, why should someone decide to be a financial advisor?
Ng said the unit trust industry has been growing steadily over the past two decades. This is despite the 2008 and 2010 global financial meltdowns and other major global events including the Covid-19 pandemic.
“Despite the global challenges faced over the past two decades, the industry experienced a 137% growth rate from 2008 to 2021,’’ Ng said, adding that that was potentially the kind of returns to expect as a financial advisor as the industry was still growing.
There is also about RM300bil in individual savings in the banking system that earning low interest rates. That in itself is an area of opportunity to potentially channel a portion towards products that offer higher returns versus the 1.7-2.0% in fixed deposit rates, he added.
Meanwhile, Tan said she had been investing in unit trust since 1995 when she was 25 years old.
“I am glad I have found this business as it allows me to grow my portfolio and that of my clients. I have the best of both worlds - financial freedom and flexibility of work schedules and time on my hands. There is truly work-life balance and when you enjoy something you really do not want to retire,’’ she said.
Hazim said what he liked most about the business was the yearly all paid overseas vacations. He currently has a NAV (net asset value) of RM218mil. While anyone can be a financial advisor, Hazim and Tan believe “passion and the right mindset’’ are essential to drive a business.
It boils to making the right choices, seizing opportunities and achieving financial freedom as early as possible in life. As Ng puts it, “Say yes first, then learn to work on it.’’
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