Finding the right financial partner

Standard Chartered Bank

Professional financial planning advice to help one achieve his/her financial goals in life is a specialisation that many people are now seeking.

There are many people offering financial planning advice these days and the question arises as to how good is this advice, how independent is it, are they qualified and for whom are these people really working – you or themselves?

Personal financial planning is still at its infancy stage in Brunei and is rapidly gaining importance as more people realise its potential value. At Standard Chartered, we are fully committed to providing personal financial planning services to our customers and we have taken the first step in this direction with our Total Money Management Solution. More initiatives are to come in the near future.

THREE STEPS IN TOTAL MONEY MANAGEMENT SOLUTION

There are three essential steps in Total Money Management Solution. They are simple steps that can be outlined by Standard Chartered Customer Relationship Managers (CRMs) or Personal Financial Consultants (PFCs). They can take each customer through the basic steps and help guide them further along the path to achieving their financial goals in life.

The first step is to get an insight into your current personal finances. Do you control your money or does your money control you?

You may be surprised at what you’ll discover with the Bank’s Financial Check-up Kit. In it you’ll find specially developed tools called Cash Flow Analysis, Net Worth Analysis, Financial Calculators and Current Investment Profile. Each of these financial tools will help you determine your financial fitness and highlight certain concerns and opportunities you may not be aware of.

Identifying your goals at different stages in your life and then prioritising them as realistic targets is the second step, an important step towards making your dreams come true.

Do you intend to buy a house soon? Want to educate your kids overseas? Hoping to retire early?

Once these goals have been identified, the third step is to start working towards achieving these goals. Together, we’ll chart out a Total Money Management Solution that’s customised to your needs. It basically comprises of three parts: wealth management which helps you to manage your day-to-day finances better; wealth accumulation, which helps you plan for short-term and long-term goals; and wealth protection, which protects you, your family and your assets. Each plan is clear and simple, so you’ll find it easy to choose the ones you want.

SEEKING PROFESSIONAL ADVICE

Most people can only devote a small amount of time to planning their finances and wealth as they have many other things to do in their lives.

The CRMs or PFCs at Standard Chartered have been trained to assist customers in the three essential steps in Total Money Management Solution. They will continue to receive training in financial planning as the Bank strongly believes in continuous staff education.

These CRMs or PFCs impart their knowledge and with the essential tools developed in-house, they can help clients make their own financial decisions. Establish financial goals and regularly review your financial plan is especially critical in times of economic uncertainty. Standard Chartered can offer invaluable advice on these matters and can save you valuable time.

INDEPENDENT FINANCIAL PLANNING ADVICE AND FEES

An important hallmark of personal financial planning partner is how independent they are.

Are they using financial planning as a tool to sell their financial product or honestly helping you to create a plan to achieve your goals in life. Ideally, you should seek one that provides independent financial planning guidance, with your interest at heart.

If he has vested interest in promoting his product, it is important that this must be made known to you upfront. Alternatively, you may want to ask your financial planning partner. Equally important, how much do you have to pay for the financial planning advice? At Standard Chartered, Total Money Management Solution is at no cost to you.

SOMEONE TO TRUST

There is a great degree of trust involved when others become part of your personal financial planning. It is crucial to have partners whom you respect, trust and are reliable.

As your financial planning partner, Standard Chartered provides objective guidance and financial plan designed for the personal requirements of each customer.

This enables individual customers to become more empowered to make informed decisions.

This article is for general information purposes only and while the information in it is believed to be reliable, it has not been independently verified by us. You are advised to exercise your own independent judgement with the contents in this article.