South East Asia

1 month

Why having mentors and advisers works well for financial planners with Rey Tacder – Transcript

Share :

Share on linkedin
LinkedIn
Share on twitter
Twitter

SUMMARY KEYWORDS

financial advisor, client, policy, insurance, money, mentor, life, working, agree, company, business, industry, philippines, friends, pandemic, pay, mindset, insurance industry, share, trading

SPEAKERS

Gwen Lazarito, Rey Tacder

 

Gwen Lazarito 

Welcome to the financial planners Southeast Asia podcast, a show dedicated to driving the positive evolution of financial advice specifically within South East Asia, to join a global community of financial advisors sharing and learning with one another to drive the positive evolution of financial advice. Head to x y advisor.com. Hey guys, welcome to another episode of the financial advisors, Southeast Asian podcast Gwen here. And today we have a financial advisor from the Philippines who’s not only a financial advisor, but who’s also an active stock market trader. And on top of that, he’s also an equities and security salesman. Please help me welcome right back there. Hi. Thanks for having me. Good. Go there pronounce your last name, right? rate it yes, there. Cool. Cool. All right. Sorry. We we’ve actually spoken before, and we’ve shared like a great heaps of conversation, and I know a little about you. But for the benefit of our listeners, I’d like to ask How long have you been in this industry.

 

Rey Tacder 

I’ve been a financial advisor since 2015. I actually joined when I was still in college. And I was introduced to the business by my sister who sort of forced me, quote, unquote, into the business, she said that she already paid for the training. So I kind of just listened to the opportunity that was offered. And, you know, at that point in my life, I was really looking for extra income, to pay for tuition paid for and just to have money all around. So it was kind of a situation where it was the right time and the right place for me to start.

 

Gwen Lazarito 

Yes. And that’s, that’s really good. But you know, it started with you being forced into the industry. And then six years. Your coax, you were coerced into the industry, and then six years later, you’re still here in the industry, and you’re not only thrived in in your chosen career, but you’ve also managed to, you know, take on a few more hats. As I said earlier, you’re also in equities and securities. And aside from that, you’re, you’re also actively trading. Now, what made you like decide to, you know, delve into this different niches in the financial industry? Hmm,

 

Rey Tacder 

that’s a really good question. Um, so I started my career in the insurance industry as being a national consultant. And I think the reason why you stayed for so long was my clients like, on maybe 90% are my clients because when I sold them a policy, I really gave them my word that I’ll be here for the long term. And, you know, US financial advisors are not just salesmen, we don’t just sell a policy, we also service them, you know, if they get sick, or if they make a claim, we’re the ones that are the frontline, there’s in that sense that we do the paperwork. And then at the end of the day, we give them the check to their families who needed the most. So this was mentioned at the seminar that I attended the recruitment seminar, and I think that’s what I gravitated towards. Initially, it was always about the money because honestly, broke college kid, you want some money, you know, to sustain yourself, but after a while, it becomes something more serious, more noble that you’re there to help service not just yourself, but also other people. So in relation to the other jobs that I have, as a stockbroker, I think it was just a function of my interest in, in the financial institution. I got into trading because my sister also, I was also introduced by my third sister to the markets at that time, I didn’t know anything about stocks or how it worked, but I just opened an account and really just started from there.

 

Gwen Lazarito 

Yeah, that’s wonderful. And, you know, I actually tried my hand on it wasn’t like a fit for me. But what made like, what do you think made, like trading so interesting, and how does it or how does this knowledge or this other nice In bed won’t benefit you as a financial advisor.

 

Rey Tacder 

So I started reading stocks at the same time I started working, which was back in 2015. At that time, like I said, I did not know anything. So I basically just choose, I chose a company that I like, which was totally be at that time. And I bought like 10,000 or 5000 worth of shares of that company. And for the longest time, I just held those shares. Actually, it was in 2018, that I started looking at my trading again. So there was a full three years where I basically forgot that I had stocks. And then when I checked in 2018, I’ve seen that my, my jollibee shares are worth 30% more. So I did the numbers in my head that, you know, every year it grew by 10%. So that was really the catalyst that really piqued my interest that either there might be something to this stock market thing. And I like what I took for granted in 2015. I didn’t understand. So even though it wasn’t a big amount, because 30% of fiver than, then gay is just small money, I was really looking at the percentage. So that’s what really encouraged me that if I studied this thing, which is stock market, I could potentially grow my money more, as I was comparing it to other vehicles, like the interest in the bath are the mutual funds in the insurance business. It did better than those things. So that guy really piqued my interest. And from there, I started learning on my own, I read books, I’ve watched YouTube videos, and I was so fortunate in August 2018, that I was able to meet a stock broker, and he was the one who mentored me to have a system in place. And ever since then my trading has gotten a lot better. Because it’s one thing to watch videos in YouTube is also another thing when you have another human being teach you this in front of you. And you can ask questions, and you can, you know, like tailor fit it to the Philippine market. Because one thing I’ve noticed, for sure a lot of the videos in there, they’re centered around US markets. Not really on the Philippine market. So you kind of have to make adjustments to fit it in our local markets.

 

Gwen Lazarito 

All right, yes, definitely. Because I yeah, I think that it’s really good to have, like a mentor. And especially when it comes to money, because and that’s what really like, in essence, what a financial advisor is like, it’s it’s your mentor, yes, to help you like, find better ways in order to manage money. And in your case, you had a mentor to help you build a really good framework and structure and how you can be better at trading. And now you’ve you’ve reaped the, like the fruits of that labor with the help of your mentor. And speaking of mentor, like, are you still being mentored by or like, do you still are you currently have a mentor right now,

 

Rey Tacder 

um, I think we all have a lot of mentors. Personally, for me. One of my heroes is really my mom was also a life insurance agent. And we’re working together since 2015. And so it has allowed me to learn so much from her. She’s a lifetime mdrt qualifier. So, Ah, nice. All the accolades that you could possibly get in the life insurance industry. She’s gotten at one point, she was part of the table. So Ah, from my mom, I have my sister who also happens to be my manager, the one who is also very, she’s also a very good producer. And she’s also a branch manager now in the company that we’re working. So I’m in no shortage of mentors. When it comes to the insurance industry. My uncle is also the head district, head of the company, we work in the family business at this point.

 

Gwen Lazarito 

To know that there are a lot of people within your circle who’s ready and willing to to help you that you can approach anytime because let’s face it, when we start this industry here, we are presented with a lot of setbacks, right. So not only with you know, not being able to get clients right away, but we also face setbacks with Trying to provide for ourselves while we look for new clients, because in the Philippines, we are a commission based industry. We don’t really have any recurring fees yet. that I know of. But, but so so yeah, like, can you tell us a little bit more about, like, your struggles when you were still starting out?

 

Rey Tacder 

Okay. So, um, when I started working, I had the benefit that I was taken care of, by my family. So I know some agents that really struggle in this industry, because there is no guarantee of income, which is just to say that you could really work your butt off month after month, but sometimes, it might not necessarily correlate straight to sales, right? So I’m not sure how to plant the seeds. So I really get that part. Some people might want us more stable source of income rather than a commission base job. So personally, I was taken care of by my family, so I did not really have to starve or really worry about the bills. So I’m very fortunate to have that. And I’m grateful for that. privilege. So to start, you know, like, better off. So my struggles would have been early on, I was always looking for something fixed, because I had that mindset where, you know, if I can just earn 20k or 30,000 a month, I’ll be fine. You know, I was big already. For me, at that point in my life. And being in the insurance, business, there’s no guarantee of income. So you might have huge commissions one month, and then next month have zero money, zero money coming in. So for me, I think that’s one of the struggles early on the instability of income. It’s probably my words, but

 

Gwen Lazarito 

that’s okay. Yes, yes, I definitely agree. Because, you know, so here in the Philippines is commission base, and if the, the client pays for the annual fees, when you get in one month, you get like a really huge commission, then for the next month, if you didn’t have any monthly clients, then you wouldn’t get any. And we do have this tendency to, you know, spend all of the money that we have. So it takes a lot of discipline to actually, you know, go ahead and budget that. And that’s like another huge topic that would like maybe we can talk about that later on. Because I think that’s also important. Being able to, you know, stretch out the commission, especially when when financial advisors are starting out, but now that you’ve overcome those hurdles, like how were you able to grow your client base,

 

Rey Tacder 

I basically just focus on the people I knew at the start. So I mentioned earlier that most of my family is in the insurance industry. And we’re basically in the same company. So going to your warm market. In this case, my family, it was kind of difficult, because

 

 

yeah.

 

Rey Tacder 

Everyone basically has a policy with either my mom, my sister, or my uncle’s my cousins. If you’re in that situation, I guess you really have to carve out a niche for your own. So I focus on people that aren’t really, that don’t have insurance yet. So that’s the number one priority. So one thing I’m really proud of was, I was able to go back to my high school teachers and get them insured, because these were the people that I grew up with in my formative years. And it’s also part of the reason why I’m who I am now. So for better or worse, though, the values and the habits that you picked up in high school, they stick with you. And they’re really a part of that. And so to ensure those people who helped me become who I am, for me, the one of the best things I’ve ever done in the insurance industry, even if it wasn’t it weren’t the biggest cases. I could ensure that your family has adequate protection that in case they weren’t here anymore, that they would be okay. So it’s one of the greatest feelings as an insurance advisor as a financial advisor to be a part of that, to give back to them.

 

Gwen Lazarito 

Yeah, definitely. And also you get to be able to, like, cultivate like an ongoing relationship with them as well. Because, you know, you update them with with regards to their policy, or they can contact you anytime, if they have questions and all that. So you’ve get to form great ties with your mentors way back in high school. Now, you started with with your teachers, because as you said that, while other financial advisors can always tap or communicate with other family members, you on the other hand, your family, most of them already has policies from your mom and from your sisters. So like, right now, six years later, do you have an ideal client base for yourself?

 

Rey Tacder 

Mostly? Right now I’m mostly relying on repeat business. So aside from my teachers, I also focus on my classmates, high school, college, friends from clubs. So basically, like anywhere I go, I just happened to share. So the thing with being a financial consultant is I don’t really hard sell. Usually, I can talk about it casually during and get together, if they have insurance, and like what your plans are, and it starts from there, the landing the idea in their minds. And I’m just surprised that I have clients from basically every part of my life, like grade school friends, high school, friends, friends from sports clubs. And also, for me, being a financial consultant is really more of a lifestyle. Because, again, as our job entails is, it tells us to be advocates of financial literacy, you know, like to get an insurance plan is the responsible thing to do. So why not share it with everyone that you need? But the trick always is, or like, the challenge is to do it in a way that it’s not off putting, it’s not like you’re selling to them, because no one wants to be sold to but everyone wants to buy. So that’s a nice one. Yeah, different strokes for different folks. Some people might prefer a direct approach, like, Hey, can I talk to you on your office and Monday, I just want to share an idea regarding your finances. And some maybe you can do it through small talk or indirect means. So that’s the fun part in our job really, is you figure out different approaches for different people, because there’s really no one way to go see a client. And sometimes it could take a while like he could tell them about idea. Yours before, and then when they’re ready, they’ll just call you like a ray, I’m out. I’m ready to start my policy. So that’s when I was planting the seeds early on in 2015 2016. But they only got the policies maybe during the pandemic because life change, right?

 

Gwen Lazarito 

Yeah. So that’s one of the things that changed. Yes.

 

Rey Tacder 

And people were like more hyper aware that, hey, things can change at the drop of a hat, right? produce a job, I could use a founding member. So this hyper awareness of, you know, that and life and the instability of life is actually, I think, a boon to insurance industry, because people are finally waking up and really seeing the value of life insurance provide to our clients.

 

Gwen Lazarito 

Definitely, I would, I would definitely agree with that. And like there after the pandemic hit, there were like more conversations gearing towards How can they like what would happen if, you know, I get positive? Like, is there a way that Where can I get the money? And then they open up? Yes, very expensive. And then, you know, and it opens up to HMO which leads to insurance, which leads to like, and there was like this thing where the market was crashing, and then there was an introduction that this is now the best time to buy stocks because of the because the market is actually crashing and all that stuff. So there were a lot of like, not so helpful information floating around in the internet. But yes, false news and but I think it’s It’s also good that those topics were opened up, because it also gives an opportunity for financial advisors and everyone else in the financial industry to answer those questions and maybe correct any existing stigma that runs around, especially here in the Philippines, where there’s still a stigma with regards to financial advisors to insurance advisors that, like, we’re only here for the commission, and then you’ll never hear from us again, after we’ve sold you this policy and all that stuff. So I think, yeah, I definitely agree that it’s, there were some things that have come out well, because of the pandemic. And speaking of the pandemic, we’ve already talked about this previously, but how were you able to fair jury the pandemic?

 

Rey Tacder 

Um, you know, just like everyone, when the lockdown happened during March, we, I went through a phase where basically, I didn’t want to work for a bit. Because I’m really used to depressing. Yes, like going out to see clients, you know, I wasn’t really into zoom meetings. At that time, zoom wasn’t even a thing yet, I think yeah. So definitely is really, really a tough pill to swallow to shift everything online, and drop it also adjusting to how things are now. So every time I talk to a client, now it’s through zoom. And then we we do the online platform for my company, when we’re, we’re going over, boasting a sale. So it’s a lot of learning a lot of adjustments, but it’s just a good thing that my company offers a lot of trainings and a lot of motivational session so that you still become productive, even though it’s locked down. So I’m really grateful.

 

Gwen Lazarito 

Yes, because like, I do notice that a lot of the companies now have this program where they help their employees get to the day and find new ways to be more efficient in their job. And I think one of those is like coming up with a new like app or software to help you become more productive right. Now. definitely agree on the zoom part, too. Like, I did not like zoom, I didn’t really know how to use it, because I was actually more inclined to Google meetings. And so but a lot of resume. Yeah. You know, it also took a lot of adjusting and also working from home, right, like, I know that you are the type of person who likes like a face to face meeting, but it’s now difficult to do it at home, like it can really, you know, have that physical feeling of being with a person. And, you know, sometimes when you’re talking to a person over a camera, sometimes they don’t need like, you can get their full attention. Like, that doesn’t happen to you, too.

 

Rey Tacder 

Yeah, it’s a lot different compared to being in person. Because I think when you’re first like, gonna engage them more, rather than over the computer where there’s so many things that can distract you that they have their kids or that, you know, are the number one issue really is the internet connection. So having a really bad internet connection, can really, really slow you down in terms of your progress. But, you know, like, what can we do? It just saw some of work over it.

 

Gwen Lazarito 

Yeah, yeah, definitely. Because not all the places here in the Philippines, for some reason have good internet connection. I can definitely attest to that until now. We don’t have fiber connection here and in the place where we’re at, and we’re still in the city, right, but, but I’m glad to know that you’re coping well enough right now because I know that there were a lot of people who are struggling as well, like some of them didn’t really, it didn’t like come up with the idea of working from home and so when the pandemic hidden, we weren’t able to go outside. Like they didn’t know where to start when it comes to working from home and you know, adjusting with the current situation. But now that we’re slowly opening up that The cities have is much more lenient when it comes to meeting up with in cafes and stuff, are you back on, like meeting clients face to face?

 

Rey Tacder 

For now just select clients, like, I’m not really doing face to face meetings all the time. Actually, tomorrow, I’m meeting a client of mine, who has been a client since 2018. And then it’s gonna get to more policies for his kids. Also. For new clients, I usually just focus on zoom and online stuff. But for existing clients, of course, you take all the protocols on social distancing, face shield face mass. But yeah, for those existing clients, I really take the time to go through them, and really explain up I see they’re getting and really be there in person, because I rather do it manually, like I’m just used to manual and I’m refusing to change. It’s a struggle. Yeah, I

 

Gwen Lazarito 

can definitely understand. And maybe there are some non financial advisors who are listening to this podcast right now. And let’s just explain this real quick. There’s actually a need to explain further, if your client already has an existing policy, right? Because we don’t really want them to be over insured in something or invest in something that is redundant, because they already have this initial type of investment. Right? So I think I definitely agree with you like, sometimes our most of the times when it’s already an existing client who wants to, like, either get a new policy for their children, or maybe get another type of insurance or investment vehicle, then it’s better to meet face to face. And, you know, it also builds, like a stronger relationship between you and your client, when you are actually meeting face to face.

 

Rey Tacder 

Yes, exactly. Yeah. I also take into account what do they really want? You know, like, for example, if they want some to start a program with their kids, like, okay, like, what is the goal here? Is this for college? Or is this just for general savings? So when I meet a client, it’s really more of me just asking a lot of questions, because I really want to understand where the person is coming from, and then I would have recommendations based on his answers. So the way I look at our job is really not just a salesman, we’re not a peddler selling our wares in the streets, not like it’s all pre package, what we are, we’re financial doctors. So we have to understand what are the symptoms? What is the person going through? What is the circumstance, and from there, we can have an effective diagnosis that because every client is different, they have different income, different backgrounds, different mindset. So it really helps for at least for me, like, that’s why I struggle over zoom, because it’s just lacking, of course, you can see the over the screen and can talk to them. But I don’t know, I can’t explain it that we have to be there in front of them to really understand your client. And that’s how you can be effective when it comes to offering our services is by first understanding what do they really want what they need? And what’s the best solution to their problem?

 

Gwen Lazarito 

Yeah, right. So I’m glad you actually brought that topic up. Because, yes, that’s one of the reasons why I think, you know, having a meeting is very important. Because sometimes, you know, your your plan says, I want to get this type of insurance policy, let’s say, but then with a closer inspection, what with conversing with them and asking the right questions, you figure out that he doesn’t really want this, but he needs this instead. And so you have to educate your client that this is like the, what he really needs and this, what he really needs is in this type of product instead of the one that he initially said that he wanted to have. So that’s really good, that you’re able to, yeah, to diagnose what he needs instead of you know, giving him what he wants. And I think like, sometimes I’ve heard this from other Like friends of mine who had policies like they’ve also had a bad experience, because it, they felt like they were just being sold to because it turns out that the Yeah, the policy that they’ve got, and that they were, you know, paying until now is not the right one for them. So it’s really good that you’ve mentioned that. And because it’s I think it’s a really good topic that, you know, financial advisors, especially here in the Philippines can talk about, like, for once really the mindset of a financial advisor when coming into a meeting, is it to sell a certain product, or to really determine what the client needs, that is most suited for, you know, that person situation, what they can actually maintain to pay. That’s like one of them? Because it’s, you know, I don’t know if you’ve heard, I think you’ve heard about this, like, some financial advisors would push a product, because it’s like, it’s, it provides, let’s face it, like the the biggest amount of commission, right, and then it ends up like the the client is unable to maintain the amount that they need to, to shell out every month or every year. Because it’s just not, you know, it’s just not really for them. Yes, it’s not realistic for their situation. I agree. I agree. Yeah. Because, and you mentioned earlier, right, like your first clients, although they weren’t really big, the policies weren’t really big, but at least it’s a head start for them. And because anyways, later on, they can actually pay for, like, they can increase their policy, right? So. Right? Yes, that’s right. As long as it’s what the client actually needs, and what like the financial, not like what the financial advisors want. So that’s just,

 

Rey Tacder 

I just want to add that, you’re gonna have to see your clients also, as they’re going through life cycles. So they’re not just gonna get one policy from you. So as they move on through their different stages of life, when, at first they’re young, single, professional, so you might offer them a policy for that time of their lives, and then they start a family. So their priorities will change. And there’s an opportunity there if you’re quick enough to really capture that market. And also, I see myself growing with my clients. And yeah, I see it as a long term view. So I don’t really I agree with what you said that some clients are some agents who push for the highest premium, because that’s, that gives them the highest commissions. But in a way, you’re killing your business. Because if the policy lapses, and they have a bad taste in their mouth, from that experience, they’re not going to get from you anymore, or they might be thrown off to insurance altogether, right. This is just an industry for money grubbers, or this is just for greedy people. So we don’t want to give off that idea. That is to be part of the chain. It could be the adviser that really understands your client well enough that you offer them something that’s realistic, so I just want to share quickly unexperienced I had a few years ago, I met this guy who was working in j center. So it’s a mall in in, in the city I live in. And what they really what really struck me was he was a really hard working guy is 21 years old, fresh from college and he was basically working whatever jobs in order to make money and I asked him why are you so hard working? Like are you are you have kids or not to provide for and he basically said, you know, like, I have so many goals, so many dreams. So I want to get as much money now when I’m young. And then I asked him if he had insurance. So apparently had three policies at age 21 yellow company, green company and the blue company. So he really shopped around and other decent size policies. So I also actually also offered him from my company. And so we decided to talk about it. And in my finding, I really realized that almost like 80% of your salary goes to insurance premiums.

 

 

Oh no.

 

Rey Tacder 

He was barely living on just like a sliver of his income. So Returning Are you sure you want to do this? Because you know, that 20% sick, your food, your rent, you know, then then the company was paying for his rent. So he was really just paying for, you know, food and additional personal expenses. But, um, so I told him that although Yes, it’s contrary to us normally, as agents, one of those the case for omissions but I really thought it was really against him and he already had production that was adequate. Yes. So I told him now, maybe now’s not the right time, because you might already have enough insurance, maybe you might want to save your money, maybe start a business. So I really just treated him as a friend and advised him because I was a bit older. So I was able to do that. So some clients. They’re the ones that advice me so. And he was also asking a lot of questions. So I was happy to answer and I hope I was able to help him. Because I, that guy was one of the most hardworking people I’ve met. And he was working in a department store at same time, so many sidelines. Yeah, we’re like, I don’t think he sleeps. So it was just a case where you really have to put the clients first. And it might not benefit you in the short term. But I really believe if you have that mindset going forward, it will just pay dividends later, the clients will see the value you bring them and, you know, maybe God will just reward you in its own way.

 

Gwen Lazarito 

Yes, and definitely agree with that, because I also had, like a Malaysian financial advisor, whom I talk to very, very good guy. Kevin, hello, Kevin. But he said that there, he had this one lady who approached him and she was crying because she couldn’t sustain herself. Big, and she needed help, because she doesn’t know like, how to go about with her finances. And then when my friend, the financial advisor, took to you know, checking all of her accounts, her all of her insurances it took, it turns out that I think, I’m not sure about with the numbers, or think she had nine policies. And she was Yes, and she was still paying for them. And some of them, the financial advisor determined was that the client simply didn’t need it. And imagine this person who she thinks of herself as a poor person, because she couldn’t even like, afford to buy the things that she needed. And yet she had nine policies that she, that her money gets deducted with on a monthly basis. And, you know, like after that after they reassessed and retained the ones that she needed, and then move her money around, she was able to live a more comfortable life. And she was eternally grateful for it. Because, you know, imagine, like, initially, having thought that you didn’t have enough money for yourself, when it turns out that you actually had enough money and then some. So that’s, yeah, and I fully support what he said, like, you may not have been able to close that particular sale, but who knows, like the, if a friend of that person mentions that he needs insurance, then he would refer that friend of his to you because he believes in you because you’ve provided that him a solid form of advice. And I think yes, that’s, it will reward you tenfold. But, and I think aside from that one Ray, like aside from giving, you know, solid advice, not just from in, like closing the sale point of view, like how else do you actually acquire more clients?

 

Rey Tacder 

The great thing about our company is that we have weekly meetings, we call them hurdles. And in these hurdles, we have different speakers from different backgrounds, some are bankers, some are, you know, fresh grads, some are architects, what different walks of life, and they share their stories on how they’re able to perform in the life insurance industry. So, for me, I just listened to these people and I try to apply it as soon as possible. So, it could be like, posing techniques, it could just be mindset. So how I go about it really is, I try whatever works, I throw whatever, whatever strategy there is and see what sticks in the wall.

 

Gwen Lazarito 

Yeah, yes. Oh, which reminds me and I just gotta share it. So I know you know my mods, right? So is my mods. My mods Jill’s mom? Okay? Oh, she’s one of the top performers in my husband’s company. Yes, for sure. Um, soon, I will definitely I just need to, like prepare myself. But she mentioned in one of these sessions, as well, like, you have to broaden your mental wallet, I think that was the, the term she coined. And that was because, like, for us, because the let’s just say, for me, we can only afford this amount of money. So if we pitch to a certain client, sometimes we have this certain bias, but we’re just going to maybe provide this type of insurance amount or investment amount to our clients. And then it turns out that they’re your clients can actually afford more and because you didn’t really make them decide, like you did a pro more on what they really what they can actually pay for. They end up like not getting the type of investment that they can actually afford, which is more than what you may have thought. An example for this is like you offered, like an investment of say, say 2000 per month. And but because you didn’t really pro more on your client, what they were actually thinking is that they can afford 5000 per month policy. And I’m sharing this because my husband has that experience, actually. And he so he had two experiences with that same one, the first one. You know, because he forgot about that lesson. He actually pitch like us smaller, like insurance policy for the client. And then his client later on said that, hey, like after everything was processed, like, Hey, I think this is too low. Because he No, I think I can afford more. So it’s like, Huh, so that and after that, like, he really remembered what Muhammad said. And then and so he was able to close a bigger sale afterwards as well. Because yes, one of those huddles is very important. I agree that you should be able to, like you should ideally, take the advice to heart as soon as possible. Because these people are actually your mentors as well. Right. So yeah, so they’ve already done the work for you. And all you need to do is follow like the better experience that they’ve already had. Because for sure, it was born about in, in in their mistakes, and then they’re in their trials as well. Yes,

 

Rey Tacder 

100% agree on that. I actually just want to add something, um, my sister said this early on, like, I’m not sure if it was right after I got coded as an agent. She basically just told me that if you want to go where you want to go, just look at the people who’s been there already. And you try to see what what road it took to get there. So I’ve done that for my life insurance business as well. That’s my stock market journey. So as a trader, and also as a stockbroker, I try to look for mentors who I want to, like, I want to be in 10 years, I want to be like them. So can I just pick their brains, see what worked for them and tried to see if it will work for me. So for those aspiring financial advisors, just look to someone that you can look up to and really just try to emulate what what works for them, like their good practices, the discipline, the drive their approach us, you know, and the great thing is, you can have more than one so you can have a mentor for prospecting governmental for dosing, you know, like, it can pick and match and when you do a good job, it’s gonna You’re honoring them, because a bit of them is a new. So yeah, learning from the previous generation and in the future, pass it on to the new generation. So that’s true of life.

 

Gwen Lazarito 

Yes, that’s true. And I’m, what you said was very interesting. Like, you get to pick the types of mentors that you have. So you actually have different types of mentors for, like different stages of your business. So that’s very interesting. And I think I only thought of that. So I’m very happy that you shared with us that information, that’s really nice. And this

 

Rey Tacder 

goes to more than just your business could be like the way you live your life in philosophy, and how you treat other people. So you know, it’s just, it’s everything, not just work. It’s your whole life. Yeah.

 

Gwen Lazarito 

Yeah. Yeah. I actually agree. Because I think we usually do that in life, right, like, pick the best advice. But we don’t seem to do that in business. But we try to stick to one. So yes, and I definitely agree that whatever you that you learn in life, in general, you can actually emulate that in different types in your different areas of your life, whether it be Parenthood, or what does that relationships, your intimate relationships or your business. Right. So Oh, and by the way, this is one important topic. So I was about to close the podcast, because I was, I didn’t want to take up much of your time. But really, thanks, Jerry. So we actually chatted about this earlier about your your recent YouTube. So you started your YouTube, your own YouTube channel. So before we end, I just really want to, to ask you more about that first, like, why did you start a YouTube channel?

 

Rey Tacder 

Yes. So it’s an interesting topic. Um, I basically joined YouTube or started a YouTube channel, because I guess I wanted to share my experience in the stock market, as well as provide value to the listeners, I’m not saying that I’m, I’m the best in creating or anything. In fact, like, I am actually quite bad at it at the start, and then where I’m, I’m somewhat decent now. So for me, it was a journey. And I love a lot of people had their hand in helping me improve myself. So one of it was YouTube videos. So I really just thought to myself that if anyone was interested in the stock market, I want to have a place where they can learn, and maybe also degrade the place where they can learn in safety, like, you know, and they can ask questions, and we can all learn from each other. So I wanted to create that environment, which I wish I had back in 2015 when I was starting out, so it was very hard to find YouTube channels that was focused on the Philippine markets, topics that are more centered towards us. So maybe that’s why I created a channel is to be a resource also in that department. Yeah. So yeah, also a great way to exercise your creativity. So I’m always pushing myself. I’m always looking for ways to push myself not just in work, but also in other ways. So it keeps like more interesting. Yeah, sure. Never pigeon pigeonhole yourself to one thing, like are disguised as an insurance agent disguised as a broker, you know, do something on the left field, something unexpected. So most of the time, it’s really just to surprise myself by you know, what works. What doesn’t work? What you know, just how fun Yes.

 

Gwen Lazarito 

Yeah, I agree. I agree. You You should always look for like, you never should stop growing, right? Yes. Yeah, because and we talked about this earlier, right? Like, you you kept putting the YouTube project off for for quite some time because you’re, you’re like me, like a really like class a perfectionist. But how did you like, managed to overcome that and really get that out there because I know that there’s, it’s not just you and me. There are a lot of people who are the same Wait, like, does not want to put out content that is not like 100%?

 

Rey Tacder 

Yes. So we’re both kind of perfectionist, right? And this actually stops us from just, I think for me, like, it stops us from growing. Because if you don’t put the seed in the ground, it’s never gonna grow. You know, I think what really pushed me to start it was, I just accepted that, things I do won’t always be perfect. In fact, most of the time, it won’t be perfect, but I accept that. And my mindset now moving on with this channel is, I’m just gonna learn as much as I can, I’m gonna take every feedback and see if I can use that to improve my content, as well as on the way I handle things in the channel. So I see it more as a progression sort of perfection. So that’s one of my mottos in life progression over perfection. don’t strive to be perfect, because it’s very hard to be perfect, there’s always going to be something off, but if you’re constantly improving, the quality of your work is gonna really go up. That’s my mentality now, like, yours. The self is always the harshest critic. So yes, what might be terrible for you might be actually insightful for some people. So that’s what keeps me motivated, listening to my friends who keep, you know, motivating me telling me that it was good. And at the same time, it’s about not being satisfied that you can be happy with your work, but never be satisfied. Always improve in your little ways. So, perfection is a very, very dangerous road to go down. Because it can mean you might never even start. No. So how can you improve something when you don’t even start? So I might say, Yes, just keep moving forward, and eventually it will lead you to a better place.

 

Gwen Lazarito 

Yeah, definitely. I definitely. Um, for those of you who don’t know, I do have a YouTube channel as well. backstory it actually took me five years. years and the Yeah, the like, the last straw, it will like he wasn’t really like the the main reason why I started but he was like, one of those like, last straws is the is the director of our community at this Clinton that Daniel, he’s the founder of x, y advisor. So he was the one who said, start it started. And he basically told me like, it’s going to be crap for one year. So don’t worry about it, the most important thing is for you to start. And that was the reason why I started. So I started about the same time that I started working for x y advisor as well. So and, you know, it’s really true, like, imagine five years. Right? But when I finally put it out there, like it was the biggest feeling of relief, because like, it’s like, I didn’t even notice it that it was actually stressing me out that there was like a plan that I’ve been always been putting off. So

 

Gwen Lazarito 

and I’m glad that you also started we’re now a really big community of YouTubers, Filipino YouTubers, in the in, in the financial advice community here in Cebu. So that’s really nice. Yes. And so really, thank you so much. So I really don’t take your time. But, yeah, then I do want to reserve a few more conversations for future podcasts. Yeah, and hopefully, you know what, we’re going to have more conversations about it about investing about being a traitor as a financial advisor. But for now, thank you so much for coming into the show. I’ve also learned a lot and hopefully our listeners a lot as well. Yes, no problem. And I hope let you know soon we can have another talk again. But for now. If there were people out there who want to get to know you more or get to know more about what you do, where can they find you can find me over on Facebook, to search up right up there. Thank you so much. Thank you

Listen to the podcast on the links below or on your favourite platform

General disclaimer for this podcast and all XY Media podcasts
https://www.xyadviser.com/disclaimer/