Financial planning is a universal concept, but how people approach it can vary greatly depending on their cultural background. In the Philippines, understanding and integrating Filipino cultural values and practices is essential to building trust and ensuring practical financial guidance. Filipino culture strongly emphasizes family, compassion, and care, which influence financial behaviors and decision-making processes. Acknowledging and incorporating these cultural elements help financial advisors create more personalized and relevant strategies that resonate with their Filipino clients' unique values and needs. 

Three MDRT members from the Philippines share fundamental Filipino cultural values they integrate into their servicing to further their relationships with clients and their careers.   

Value your clients and their families  

Jorinah Manabat, a one-year MDRT member from Pasig City, Philippines, shared that Filipino clients involve their families in financial decisions and planning for a secure future together. This focus isn't just an observation for Manabat; it's central to her practice. When invited, she makes it a point to attend her clients' family celebrations, emphasizing her commitment to understanding and supporting their familial bonds. This personal touch extends to assisting and advising the entire family, reinforcing that financial planning is a collective endeavor. In effect, she becomes family to them, making them feel connected and understood.    

"My client and her husband recently retired, and both need guidance with financial decisions regarding their retirement funds and investment concerns," Manabat said. She worked closely with her client and helped fix their investment gaps. Helping her client with financial planning reassured them about the future.  

Her regular home visits show Manabat's dedication to understanding her clients' familial context. These check-ups are professional obligations and opportunities to build deeper connections with the family. "Getting to know the client's family is important, as this elevates comfort and improves communication. Total financial planning involves preparing for the future and celebrating life with your loved ones." This holistic approach helps her provide more personalized and relevant advice, especially during critical life transitions like retirement and hospitalization.  

Manabat advises that a thorough understanding of client goals is essential in financial planning. There is no one-size-fits-all approach; each client's situation is unique, shaped by their family's needs and dynamics. "By embedding ourselves within the familial framework of our clients, we can offer financial strategies that truly resonate with their values and aspirations, ensuring a secure and agreed-upon future for the whole family."   

Always be compassionate  

As a two-year MDRT member from Quezon City, Philippines, Catherine Tsang is known for her compassion and unwavering concern for her clients. While many aspects of the financial advisory process can be handled online, Tsang prefers a more personal approach. She prints all necessary documents and personally delivers applications and approved policies to her clients, fostering deep connections and ensuring they feel valued throughout their financial journey.    

Tsang's compassion extends beyond the administrative parts of her work. She believes showing genuine concern for her clients involves helping them understand how to show compassion and care for themselves and their families. It means advising them to protect their financial well-being, plan for unexpected events, and secure their loved ones. By guiding her clients to make thoughtful financial decisions, Tsang empowers them to create a safety net that reflects their concern for their family's future, inspiring and motivating them.  

A specific example highlights Tsang's commitment to her clients' well-being. She had a 30-year-old client who was exhausted from work and got into a motorbike accident, resulting in a skull injury and hospitalization. The client's relatives were still determining whether the accident was covered by insurance, so they contacted her. "I assured them the insurance policy covered it, providing much-needed relief. Throughout my client's stay in the hospital, I stayed in touch with his relatives. I even brought them fruits."   

Tsang advises that demonstrating genuine compassion involves more than just closing deals. It requires showing clients that your mission is to help them. Small acts of kindness significantly impact client relationships. "By prioritizing our clients' needs and well-being, we build trust, and our clients know they are more than just a transaction. We truly have their welfare at heart. Our compassionate approach underscores the importance of empathy and concern in client relationships, making them feel valued and respected.”   

Expressing genuine care 

Cleveland Crisostomo, a two-year MDRT member from Binan, Philippines, stands out in his commitment to show care and value to his clients. As a critical illness advocate and a registered nurse, Crisostomo extends his nurturing spirit to his prospects and clients. His branding, marked by the hashtags #TatakMalasakit (#TrademarkCare) and #TatakCleve (#TrademarkCleve), emphasizes his dedication to care and concern, qualities central to his professional identity.  

One significant way Crisostomo cares is through educating his clients about retirement planning. Drawing from his personal experience, where he and his siblings had to fully support their parents in retirement due to a lack of insurance, he made it his mission to help others avoid being in the same boat by preparing accordingly. "I assist clients in creating their retirement fund programs so they enjoy their golden years and live independently without financial strain on their children. We calculate how much they will need monthly for 20-25 years of comfortable living in retirement. With this figure, I ensure that at least 50-60% of the required amount is reflected in their policy's fund value, securing their financial future and providing peace of mind."   

Crisostomo's advice for fellow MDRT members centers on prioritizing clients' needs and satisfaction, emphasizing the importance of caring for clients as much as one would care for the family. "When clients are happy with you, they contribute to an advisor's growth by becoming loyal advocates and referring friends and family. My reputation for caring deeply for my clients creates high expectations among potential clients to receive the same attention and dedication."   

Consistently putting clients first and delivering exceptional care underscores the profound impact of genuine concern and service in building lasting and trusting client relationships. Filipino values are about going the extra mile for one another and fostering solid connections. It can happen that friends, or in this case, financial advisors, become family. 

Contact: MDRTeditorial@teamlewis.com