South East Asia

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Why you should become a Certified Wealth Planner with Nalla Deligero-Salcedo – Transcript

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SUMMARY KEYWORDS

people, insurance, financial advisors, planner, estate planning, industry, certified, financial advice, certification, clients, filipinos, wealth, philippines, trainer, classes, podcast, nadia, exam, product, rejections

SPEAKERS

Gwen Lazarito, Nalla Deligero-Salcedo

 

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 X Y advisor, South East Asian podcast when here and today I am with a certified wealth planner from the Philippines, Nadia Marie sellside. Oh, hi, Nadia. Hi. Alright. Thank you so much for being here with me today. Thanks as well. for inviting me. Of course, of course. I’m actually very excited to have you on here because we are I actually have a specific topic that I wanted to talk about with you. And I won’t beat around the bush to it. So I mentioned on on my introduction that you’re a certified wealth planner. Can you tell us more about that? Because I know that here in the Philippines, most people only know financial advisors, but we don’t really. I mean, I haven’t heard of like a Filipino certified wealth planner. So can you tell me more about that? Yeah.

 

Nalla Deligero-Salcedo 

There’s actually quite a lot of us already. So the the certification, it’s very broad. So you get to be what would you say wealth planners. So not only that, you’d be certified in investment. Also, you’d be dealing with risk management and estate planning as well

 

Gwen Lazarito 

are very interesting notes to plan estate planning. And because that’s very interesting, because not a lot of Filipinos actually know anything about estate planning. My parents certainly didn’t know but let’s go on that a little bit further. But first I want to learn like where did you get your certification? Okay, so I got my certification from the Wealth Management Center. Center for communication research I NC. This is a flagship program WMC certified love planner, certified as hate planner, certify. Yeah, love planner, investment planner and risk manager. So they are Alright, so

 

Nalla Deligero-Salcedo 

this actually designed to help participants to confidently profit professionally respond to clients concern on not only their health finance, insurance planning, investment planning, and also investing.

 

Gwen Lazarito 

Alright, and how long did you have to take? Like the classes or like, are they classes are they seminars?

 

Nalla Deligero-Salcedo 

They’re really classes, online classes for now, I suppose, originally have to really go to a physical class, mortar class. Unfortunately, due to the pandemic, we’re offering it online now, which is even better, especially for people like me. Yeah, I think I wouldn’t be able to get it if I have to go there physically.

 

Gwen Lazarito 

Yes, because you mentioned we chatted here. Before we started the podcast, we chatted and you mentioned that their physical classes cost around 45,000. But now they’ve dropped it to 12,000 because it’s just like online classes.

 

Nalla Deligero-Salcedo 

I’m not quite sure what’s the reason behind. But when I heard about it, they grabbed the opportunity. Yeah, we’re at an opportunity and then at the same time is like it’s not like bulc not 12k staggered, but your job was like half and half. So half pre admission and then up the other half once you start the class now.

 

Gwen Lazarito 

Yes, that’s very interesting. And I think a lot of Filipinos are going to be really interested in this because it’s, it’s definitely better to learn more on how You not only learn how to help your clients navigate their finances, but also how to deal with your relationship with your clients as well. I’m sure you tackled on that, too. And how long does the online classes take before you get certified? Or before you take the exam?

 

Nalla Deligero-Salcedo 

I think it’s like, a month long. Because I started from not mistaken I started November, the November till December. Then after that I had my group Valletta in then the last one would be the certification where the exam itself,

 

Gwen Lazarito 

all right, and they’re so like it’s a pass or fail exam, or is it?

 

Nalla Deligero-Salcedo 

It is the pass or fail exam. So after after you finish your the training, you get the associate certification. But if you want to have the certification, per se, you really have to pass all three exams.

 

Gwen Lazarito 

Alright, so the exam for financial advice. estate planning

 

Nalla Deligero-Salcedo 

is Yeah. Okay. Well, you’ll have investment. We’ll have se in then the other one is for risk management and insurance. Oh, okay.

 

Gwen Lazarito 

So it’s, it’s just like taking an exam for from the government, I forgot

 

Nalla Deligero-Salcedo 

Exactly. Like taking a bath. It’s like taking a bar exam. It’s nerve racking.

 

Gwen Lazarito 

Oh, yes, definitely, Oh, my gosh, it’s a pass or fail. So you don’t really get a chance to have like an in between grade or anything like that. But I’m really glad that you passed. So congratulations. I’m really glad. Right now. So now you can offer like, different services for different life stages of your clients. And so like, are you still like, because you’re a certified wealth planner? Does that mean that your prospective clients are able to hire you full time as their like, financial planner? Or are you still in like a commission base? style similar to what we usually have here as financial advisors in the Philippines?

 

Nalla Deligero-Salcedo 

Oh, that’s a very good question. Well, since I’m still new, you know, I’m still based on commissions. However, with the certification that I have, I can already email ask people for a fee for my professional fee. However, if there’s anything, if it’s like insurance relief, then my consultation is actually just free. However, if someone would ask me, like for consultancy or something like that we can we can talk about the price.

 

Gwen Lazarito 

All right, all right. Well, that’s really good because it means that if ever you or other financial advisor decide to get certified as wealth planner, they can actually get a steady, more or less a steady paycheck. If if I may say, other than our commission in selling insurance, because let’s face it here in the Philippines, we don’t have the same business model as other countries where they can become really full time financial advisors because there is steady income coming in. Whereas here, if we don’t have any commissions, we don’t have any thing else to pay the bills and that’s why most financial advisors are just doing financial advice part time. And and yes, and we really, I think it’s a really good idea to start moving forward past that. And because I think that and the reason why I really wanted to talk about being a world assert you being a wealth planner first is because I think it’s a very interesting concept that we are gearing towards a more sustainable income. income for financial advisors and not just relying on credit missions from from the former selling insurance, and that we actually can offer different types of services aside from risk management. Right, right now, because your new your certified wealth planner, I know that this isn’t your like, I know that you weren’t in sales before. And financial advice usually relies heavily on sales skill. So I want to ask, what was your career before becoming a financial advisor?

 

Nalla Deligero-Salcedo 

Okay, so I’ll just pretend that he don’t know yet. Okay, so I was, I was, I was with the BPO industry or over, I’ve been in the workplace for over 15 years. 12, almost 13 years in training and development. So I’ve been a trainer, senior trainer.

 

Gwen Lazarito 

Alright, alright. So you have been a in the BPO. industry for a very long time. 15 years, in that 15 years, you’ve been a trainer, a senior trainer in the BPO industry for like 13 years. Now. That is like, you know how to talk to people in very large in a large crowd as well. But there’s not really any sense of sales involves. So how did you transition yourself from being a trainer to becoming a wealth planner?

 

Nalla Deligero-Salcedo 

Hmm, okay. Well, although I, that’s my profession, I’m a trainer, I greet people and all those. But in terms of sales, I actually consider myself as a salesperson. Like, I think it’s innate for me, I remember when I was still, like, very, I would come up with like, great ideas and what to sell. This is my I have that mindset. So I wouldn’t, it wasn’t a hard transition for me. And I see it as my advocacy. Even even when I’m not related to any financial institution, like as a breadwinner, and going through tough times, me sending myself to school and all those. So I am already a believer. And that even became stronger as when I joined the financial industry, because now I already have that knowledge. I already have the experience and all that.

 

Gwen Lazarito 

Why did you get into financial advice in the first place? Because I know that there could have been like, a lot of options for you out there. But why did you choose the financial advice industry?

 

Nalla Deligero-Salcedo 

Hmm, that’s a very good question. So I always believe that God has this perfect plan for you. And it just so happened that he guided me into this path. I wasn’t believed before. But now that I’m already in this industry, and with the people that I work with the company that I work with a team more from from a believer to a promote their, their become a promoter of this. So I have quite a few friends in the financial industry members, when one invited me to, you know, learn the business. I said, Yes. I think I was just really waiting for that opportunity. If it did not happen. I was about to approach one of my friends have been sculpted quite a quite a lot. I think. I think it’s because of my background. They they saw the potential. They they knew how hard working I am. And I think it’s just really innate for us trainers and me personally to you know, interact and build that kind of relationship with with the people that I’m around.

 

Gwen Lazarito 

Yeah, yeah. Right. And because you started your journey here in this industry. You took your certification, your classes and your certificate. Last year, did you experience any struggles adapting? Because you started amidst the pandemic?

 

Nalla Deligero-Salcedo 

That’s a very, very good question. I think even even the tenured ones really have to adjust and adapt due to the pandemic. First is a platform now that a lot of people are more, they’re more into the day life, the face to face interaction. But now they have to do it non face to face. They have to re strategize and all those. So I wouldn’t say that it was a very smooth transition for me. At first, you know, when you’re not in the role yet. You got to think out, I think I can do it with all the connections with all the experience, and I’m good at communicating I’ve ever seen quite a few people who’s not there, they’re actually thriving in this industry. So I wouldn’t, I wouldn’t see any, like, reason why I wouldn’t do so but one year into the role and get to experience all of those rejections. Yes. So this is really a road less traveled.

 

Gwen Lazarito 

Definitely, definitely. I agree. Because I actually started as a financial advisor before I jumped into teaching and just spreading the word. And the reason why I went out of that was because I just couldn’t deal with the stress of the rejection, I know you shouldn’t take it personally. But there were just it, it was just better for me, like, I realized that it was better for me to teach than to just provide them the services. And that’s why I branched out into like creating podcasts and helping our community of financial advisors. But for you, you’ve handled your rejections and you’re still going to handle a lot more. How are you coping with that right now?

 

Nalla Deligero-Salcedo 

I am coping Well, I will, I can say specially that I don’t take it as something negative. They might be rejecting now, because of a reason. But you know, you just don’t really have you just don’t stop teaching just don’t stop informing them just don’t stop letting them know how great this product is? How how it can help them they just continue? No, a just have to go back to your biggest Why? Yes, eventually they would see it. They may not they may not see it now. Because what’s what’s hard about the the insurance is that it’s not something aesthetic? Yes. Yeah, they can’t see it. That’s why a lot of the people would say no to a rather go for something they can pull, they can taste they can, you know, they can see. Rather than getting something which is like near in the future, they can use me in the future. So that?

 

Gwen Lazarito 

Yeah, a lot of a lot of the people I know ask if we have if there’s like such a thing as an insurance that they can just pay for five years? I don’t know. But like a lot, right? So

 

Nalla Deligero-Salcedo 

a lot of people would would actually go for like limited fees. That’s what we call it. So let it be go for five years, seven years, six years, seven years, 10 years, 15 years? And I don’t really I normally want to answer them. Yes, we do. But before we go deep into what product or what you like or how much budget you want us go first and understand. What’s your goal? Because when you get an insurance, it’s just like, one size fits all. You need to we have to determine what’s your need, and most often than not, what they want is actually not looking as a financial advisor, as a walk planner. It’s our job to make sure that they understand what what what’s they’re getting into.

 

Gwen Lazarito 

Yes, definitely now, because we’re transitioning to that kind of conversation now. Do you have like a specific niche of People that you want to service or like a specific age group, or are you open to all? I’m actually open to all. All right. All right. And I yes, I think I agree with with that, because you since you are a certified wealth planner, you have different types of services from, from all age group, like, for example, for estate planning, young people don’t need that. But certainly, like, older people do, agreed, agreed. And

 

Nalla Deligero-Salcedo 

these are just really are older people. But around so these with kids, with kids, or for those who, you know, they they have a lot of properties. They’re actually not aware. So most of my clients are not really well, they introduced me to their parents. So some of them, so some of them are, they got an insurance for me. And then when they knew that I also do estate planning. So they also introduced because I, I wanted when I when I present the product to them, I normally would tell them that there’s a lot of a lot of things that you can do with your insurance, not just for death. Yes,

 

Gwen Lazarito 

that’s true. That’s true. I, I, I understood the beauty of estate planning, when actually when my when one of my when my dad passed away, and he actually left with a few properties. But those properties like the taxes are in paid, there was no money to pay for the tax, and it was so expensive to pay the taxes. So that’s where I saw the beauty of estate planning, because most Filipinos think that estate planning are only for the rich, exactly. But it’s not. It’s for people as well, who has properties, who has who, who has a house. And they want to give those the relief to their children, that that’s all been taken care of. So So for those non financial advisors that are listening, that’s what an estate planning is for, you can actually reach out to Nadia, if you want to learn more. So and, and because like you are open to all age groups, you are open to having all of these clients in what are your goals for this year 2021 is you’re still in the first quarter

 

Nalla Deligero-Salcedo 

Well, for the business, I wish to cater more clients, not just on the size of the, you know, the cap, it’s not just for the size or the amount that they would put in, but more on to the coverage. It may be adult but at least like I wanted to read the the the influence the knowledge, let people get more. And you know, trust the insurance industry. Because in the first world country, or in first world countries, a person or a regular individual could probably have like more than two different but yeah, here in the Philippines, unfortunately, only 10% Yeah, that’s how little is the population. So there are still 90% of the Filipino out there that doesn’t own or have an insurance. I wanted to spread more advocacy, I wanted to spread more information. So I’m more focused on the coverage. So I wanted to have at least 100 clients this year. All right.

 

Gwen Lazarito 

Definitely, definitely this year. So that because I really, and that’s that’s actually one of the reasons why I’m such an advocate for financial advice as well is because, as you said, Only 10% of Filipinos are insured. And I feel like that’s part of the reason why we are so Still in the third world country, because those 90% of the people who were not insured, when their breadwinner dies, they get into debt. They lose their properties. So, so they, it’s just a sick cycle. And there are definitely like ways in how to prevent that. And if we can educate if we can start, if we can have as many people educate as many people as possible, to, yes, to spread the good word that there’s actually a system that’s out there. There are products out there that can actually have you a product.

 

Nalla Deligero-Salcedo 

Yes, I call it a magical product. But it’s a magical system, because it’s only insurance. It’s the only product that would create or produce money out of nothing. Yes. When you don’t need it. What When, when, when you need it the most, you know, it’ll be there.

 

Gwen Lazarito 

Yes, I remember there’s this one story from a fellow financial advisor that I heard that when a person dies, when a winter rich men died, there were like a few gentlemen who went to his funeral. One was his lawyer, and the lawyer went to the widow and asked for money. Then another one was a doctor, and he went to the widow and asked for money. And then there came the financial advisor, and he went to the widow, and he gave her money. So that was, that, to me is a actually, it might be a very short story. But it’s a very powerful one, that there is a way. And I agree with you, when you said that. Filipinos don’t really like insurance, because they don’t see it. It’s not fair. It’s just mainly a promise. But it’s, it’s a promise that is worth investing. So, yes, I’m glad that you’re targeting 100 people to to, to educate or

 

Nalla Deligero-Salcedo 

even more, yeah, that’s what helped me reach more people. It’ll be great. I’m not really aiming for awards. You know, for me, it’s just a fact that if I get like, everything I fire and national achievers award and MDR TDs. Awards. These are just really, you know, as a result of a job well done. Yes. So that’s why I’m more into coverage.

 

Gwen Lazarito 

Yes, that is true. And I definitely agree. Those are words are nice, but I feel like having heard, like, positive or great news from your clients is is even even better. Now. Final question for you. Before we, before we end the show, Nadia is what advice? What advice would you give to those people out there who want to get into this business to the industry, but are still in the fence? That they’re in depth doubts? Like, what what do you think would be? What’s so great about this industry that we’ve jumped right into it?

 

Nalla Deligero-Salcedo 

Mm hmm. So especially me that I’ve been working in a corporate for for for the past years. You know, if you just try to think of it that if you work hard if you work extra hard on your job? If you do you put extra time on it, will you be getting more than what you are expected? Will you be getting more than what your salary this? I don’t think so. All right. But But if you’re in this industry, you know, your potential, your earning potential is limitless, that really just depend on how you work. Because if you put effort you put your time in this industry, it also comes back to you. So you’re not just building you’re not just building your wealth. You’re not just building relationship, you’re your athlete, creating an empire here because every time that you get close and help and protect people, especially food, you know, people, you know, if you’re the result of that is of course you get you get something in return in that builds off throughout the year, all throughout the day, months. So you just really have to believe In this system, I did not jump out of whim as well, I, I fell in love. I fell in love with the industry I fell in love with abroad, I fell in love the company, I fell in love with the people that I’m working with, which is very important. When you start in this business, you really need to have a strong support system, if that’s what you need to really look for, you know, know the product, you have to be sold to the product first. Before you can sell it to others before you can let others you know, believe in get influenced by your product. You need to learn love it more. So join training, join seminars, knowledge is very important, especially in the financial system, in this industry knowledge and times your if you have that, that would be that would be your edge. All right.

 

Gwen Lazarito 

They’re great. Yes, totally agree with that. Phil, thank you so much Nadia for being here with me for giving our listeners some gold, especially with regards to being a certified wealth planner for sharing your journey here and your love for the industry. I’m excited to get this podcast out there and also to get you in here again, maybe next year. Let’s try to catch up on on your goals and things that you’ve learned throughout the year. All right.

 

Nalla Deligero-Salcedo 

Okay, sure. And I can certainly let you meet no people yet be part of this podcast as well. So these are really really great people who’ve been in industry for quite long, you know, I think they can provide more input in into your, into your session.

 

Gwen Lazarito 

Alright, definitely I would be very happy to have them. So let’s talk about that later on.

 

 

Have a good one. You too. Bye.

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