Regaining the Confidence to Invest
Client: Azman Bin Talib
Goal: Retirement planning
“Kum Soon has a pleasant personality and he was very receptive to my fears and hopes. He did not try to hard sell the policies but provided insights on what to focus on for financial and retirement planning instead. I have confidence in Kum Soon’s ability to provide the most feasible solutions for his clients while taking into consideration their limitations and constraints.”
Being in his mid-40s, Azman was concerned about retirement planning. He knows investment is important to building up his retirement funds but, as someone without much knowledge on this topic, he felt it would be difficult and challenging for him to start.
Prior to engaging Kum Soon, Azman was investing under someone else’s guidance. However, that did not serve him well as his portfolio was recording a substantial loss. As a result, he found himself having to make a difficult decision: to stick it out and hope it recovers or surrender the investment and stomach the loss. This naturally left Azman with doubts and fears about investing.
Empathising with his experience, Kum Soon’s priority was to help Azman overcome his fears towards investing. When Azman’s financial accounts were handed over to Kum Soon, he set himself a personal objective to help Azman regain his confidence in financial advisors and investing. Kum Soon assured him with his experience and past successes and asked for time to prove himself. Azman agreed.
When the two met, Kum Soon first asked to review Azman’s financial situation and portfolio. Instead of advising Azman to take on higher-risk investments, Kum Soon considered his cash flow and restructured his portfolio while waiting for the right opportunities to emerge. This took some time to happen but Azman trusted Kum Soon’s advice and waited.
Eventually, the opportunity came. When COVID-19 struck in 2020, global markets were badly hit. Azman was advised to take advantage of the dip by increasing his investment and allocating more funds to equities. As a result, Azman was able to recoup his previous losses and even turned a profit. It was a nervous period for Azman as market news made daily headlines but Kum Soon assured him that they were on the right track. Time proved him right.
To help Azman improve his financial portfolio, Kum Soon constantly kept him updated and offered advice. Kum Soon also felt that his financial knowledge may not be what his client needed all the time as there are times when a sense of security and assurance are more important. During economic downturns, especially, words of assurance would be more helpful. Kum Soon believes in being present and approachable for his clients in both good and bad times. These little actions helped Azman grow confidence towards retirement planning again.
“I continue to engage Kum Soon as my advisor because of his performance and the positive results he delivers. I am very pleased to see my portfolio becoming profitable.”
Azman’s investments have continued to make great progress with good returns under Kum Soon’s careful watch.
If you would like Kum Soon to assist you with your retirement planning needs, contact us now.