Is Financial Planning = Selling Insurance?

“So I decided to make 3 videos a week for the next 52 week”

Hello, welcome back to one of the first videos that I’m going to make in the year 2021 which is the money misconception series. Hi, my name is Ka Hoe and I’m the founder of J Advisory. So, I made a resolution this year to actually decide to make three videos a week for the next 52 weeks, where I’m going to share or debunk a lot of the money misconception that you have heard over the years.

“Why Financial Planning is seen as selling insurance, maybe because insurance is 1 of the basic component in Financial Planning”

The reason why i want to do this is a lot in line with what J Advisory really stands for and that is the first misconception I want to answer, right. So, a lot of people have been asking me what is J Advisory? Is it what you’ve been doing previously, selling insurance. So yes I have been working in a local insurance company for since 2008 but basically I have resigned because I have gotten my License in Financial Planning.

“Financial Planning is more than just insurance”

Sort of a promotion, that’s what I tell everyone since 2015. So, back then in 2008 because insurance is a part of financial planning, and at the point of time, I wanted to ask or I wanted to practice my financial planning skills, so, a lot of times when I tell people, “Hey you know let’s meet up where I’m going to share with you some ideas of financial planning”.

“Financial Planning includes investments, debt management, even Will Writing”

So, I guess that’s how the market has been confused to think that, you know, Financial Planning is selling insurance. But I guess, the true true nature which I want to share with you in this video is that, a lot of the components in Financial Planning is more than just insurance, because it includes investments, includes debt management, includes Will writing.

“I realize my strength is in helping people turnaround their finance for the better”

So, a License Financial Planner has the ability to do all of these things, although many of them may not focus on all the wide range of components, right. Like for me, although I’m a Licensed Financial Planner and I can do all that, I realize my strength is really a lot in helping people to turn around their finance. whether is it somebody who’s having a negative RM5,000 helping them to turn around to having a positive surplus like RM2,000 per month. Or whether are they having a negative net worth or low net worth, to basically two times or five times their net worth over a course of two to five years.

“I saw there is a big gap in Financial Education, hence we setup J Academy in May 2020”

So I’ve been following this passion of mine because I like to see how people get to transform their life, their financial life right, and that’s a lot of why I created J Advisory right. So along the years when I’m helping my clients, basically I found out that there was a big gap in financial education. Hence, that’s why we have launched J Academy this year. Thank you very much.

“J Advisory’s stand is to combat scams & close the gap on financial literacy”

And we wanted to close the gap on financial education and financial literacy, where we want to focus on selling education classes, helping people, to really get the real practical skills from my 12 years of experience, so when people come in and sign up, we do have free classes we paid classes.

When they sign up, they are assured that they are really learning something practical, it could be an investment hack, it could be a money management shortcut, a system. So this is all done because we want to combat all the scams. That’s the reason why Malaysia is 1 of the the highest countries or citizens that gets scammed, especially like the Macau scam and the Love scam right. So what other misconceptions that you’ve heard along the way. Do share with me in the comment section and I will be happy to answer them in the next video right. I’ll see you in the next video.