Financial Planning

A resource forum for those interested in buying, selling, or developing a business; for questions about retirement plans; investing and basically any aspect of acquiring, keeping and increasing one's personal stash of filthy lucre.

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Re: Financial Planning

Postby GuyInTaiwan » 07 Aug 2009, 01:00

Okami: Many are short-sighted in that case because if they meet you when you have three figures in the bank and treat you well, you'll be extremely loyal to them down the road when they've helped you get six figures in the bank.
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Re: Financial Planning

Postby Edgar Allen » 07 Aug 2009, 11:14

Okami wrote:Now I like Edgar Allen and what he's doing and hope to do it myself one day, but he just hit the crux of a problem that most genuine financial adviser/planners hit. How does he make enough money to justify the time and resources put into this business? I hope he has really good luck and finds a good set of clients that support him because of his financial acumen. There's a reason that financial planners have such a dodgy/aloof reputation. It's because you aren't worth anything to them without having at least 6 figures in the bank.


Okami

I absolutely understand the issue, which is partly why I started the business. In truth there is enough demand that I can see 5,6,7 people each time I come to Taiwan which even with small cases makes it worth my time.

I worked in Insurance for 8 years and Banking for 8 years before that and consistently heard horror stories about people getting ripped off. I have been very lucky with my advisers and saw an opportunity to start a business for myself where I can pass that along. I'm also not solely reliant on this for my living expenses - which means I don't have pressure to sell at any cost.

My colleagues in Hong Kong have similar backgrounds to me and one of them resigned from a major UK bank when his manager asked him to do something unethical to make the branch target.

As usual I appreciate the feedback and support.
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Re: Financial Planning

Postby Elegua » 07 Aug 2009, 12:01

For many funds IIRC
least 6 figures in the bank
is insufficient. You need at least 7, possibly 8.
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Re: Financial Planning

Postby Edgar Allen » 07 Aug 2009, 15:36

Elegua wrote:For many funds IIRC
least 6 figures in the bank
is insufficient. You need at least 7, possibly 8.


Do we want to clarify currency as well?
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Re: Financial Planning

Postby Elegua » 07 Aug 2009, 16:39

KRW? :lol: I was thinking USD.
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Re: Financial Planning

Postby Edgar Allen » 11 Aug 2009, 14:24

Anyhoo I think I should schedule a trip - I'll be back in town 21st through 23rd. Happy to travel to Taizhong/Kaosiung etc if you give me plenty of notice. Will follow up with those who have said they want to see me individually but if you are on the fence PM me and we'll set something up.
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Re: Financial Planning

Postby llary » 18 Aug 2009, 17:03

I just got back from HK with everything now signed and still very happy. EA and his partner spent a lot of time making sure I was clear about everything and established a portfolio that I was comfortable with.

I would suggest that anyone who has even a very small amount to invest each month get in touch with EA right now (I think the minimum is just a few hundred US$ each month). One nice thing about the plans he can offer is a very low barrier to entry that suits individuals just starting out with investment all the way up to multi-millionaires. EA is probably the first advisor/agent I met who seems genuinely interested in taking on what other advisors see as small cases and you will definitely not regret having a nice lump sum after a few years of saving.

:discodance:
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Re: Financial Planning

Postby Edgar Allen » 19 Aug 2009, 09:42

Thanks for the positive feedback Llary.

Was a pleasure meeting Mrs Llary. Look forward to seeing you both again soon.
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Re: Financial Planning

Postby citizen k » 27 Aug 2009, 14:42

I met with EA again last week, then on the weekend in HK. Most of all, I am happy with the way he first listens to an individual's situation and their objectives, both long and short term to create a profile before proceeding to offer advice. I've been turned off financial planners in the past because they tend to offer products that are miles off from what I'm looking for simply because they haven't taken the time to ask or listen. Not so with EA; he took great care to find something that appealed to me, outlined and explained it clearly and completely, and made sure I was completely comfortable before proceeding with any signing. :thumbsup: :thumbsup: :thumbsup:
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Re: Financial Planning

Postby engerim » 27 Aug 2009, 15:32

citizen k wrote:I met with EA again last week, then on the weekend in HK. Most of all, I am happy with the way he first listens to an individual's situation and their objectives, both long and short term to create a profile before proceeding to offer advice. I've been turned off financial planners in the past because they tend to offer products that are miles off from what I'm looking for simply because they haven't taken the time to ask or listen. Not so with EA; he took great care to find something that appealed to me, outlined and explained it clearly and completely, and made sure I was completely comfortable before proceeding with any signing. :thumbsup: :thumbsup: :thumbsup:

Sounds great. What exactly were you looking for? Make sure to get it checked by a third party before signing.
Watch out for the hidden costs.

llary wrote:I would suggest that anyone who has even a very small amount to invest each month get in touch with EA right now (I think the minimum is just a few hundred US$ each month). One nice thing about the plans he can offer is a very low barrier to entry that suits individuals just starting out with investment all the way up to multi-millionaires. EA is probably the first advisor/agent I met who seems genuinely interested in taking on what other advisors see as small cases and you will definitely not regret having a nice lump sum after a few years of saving. :discodance:

They said the same of Bernard Madoff, no? :)
You mean you entered a savings plan on a fund/certificate/bond?
Can you guys elaborate more? I'm interested in this too. :)
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