How the embodiment of values connects with younger clients

With one of the youngest demographics in Asia, the Philippines is seeing its economic, social and cultural landscape being transformed by Generations Y and Z. Defined by their early and deep exposure to social media, they are hyper-aware of social issues around the world and their responsibility to enact positive change. As they enter and dominate the workforce, they have started to flex their financial power. Brands see that they are both savvy consumers and conscientious citizens, readily voting with their wallets to support products, services and experiences that align with their values. This phenomenon is not limited to consumer goods alone; it extends into financial advising. 

Three MDRT members from the Philippines have found great benefits in embodying their values and championing social causes they genuinely believe in when reaching out to this emerging cohort of prospects and clients.   

Building trust 

Adriano Torreon, a four-year MDRT member from Bohol, dedicates himself to helping underprivileged students complete their college education by channeling some of his commissions into scholarships. He started supporting four scholars with his father and his wife. He now has 10 scholars under his wing and aspires to expand his efforts to 20 in the coming year. One of his motivations for working hard as a financial advisor is for him to be able to support more scholars.  

This unique role as an education advocate has given Torreon valuable insights into the younger generation's financial needs and literacy. As a financial advisor, he educates his young clients about the importance of insurance and general financial literacy. Torreon's advocacy is widely known in his hometown, facilitating referrals and connections with the youth.  

His devotion to service has underpinned his work as a financial advisor. “I believe that fulfillment is found in serving others. This commitment has gained the trust and confidence of clients, which, in turn, has helped me in our work securing and protecting people’s future.”  

Establishing relationships  

Christianne Santos, a one-year MDRT member from Quezon City, leverages her background as a social worker to connect with clients on a deeper level. Santos organizes financial literacy workshops in underprivileged communities and allocates some of her commissions to assist those in need. While she was initially apprehensive about talking to those with minimum income workers about insurance, several experiences taught her that their financial vulnerability makes it all the more necessary to educate them about financial protection. “The non-profit group I work with once had a scholar I initially hesitated to approach about insurance. When the scholar faced a medical crisis, my peers and I raised funds for him. It highlighted the importance of engaging those I know would struggle with unforeseen expenses.”  

When she introduces herself and shares her credentials, clients sense her authentic desire to help rather than a mere sales pitch, establishing a good relationship.  “Social work has helped me develop the skill of meeting clients where they are and building from there.”  It comes in handy, especially when engaging younger prospects. “Even though they may not be earning a lot yet, they tend to be healthier, have time on their side, and their premiums are more affordable.“  

Developing tenacity 

Bea Pelayo, a one-year MDRT member from Valenzuela City, Philippines, feels passionate about addressing the enabling culture burdening the "sandwich generation." Caught between caring for their family and creating a life for themselves, these young adults often grapple with the deep-rooted Filipino concept of "utang na loob," which loosely translates to the debt of gratitude one owes to those who have been generous to you Often, these individuals find themselves pouring significant time and resources to support their parents well into old age, who likely did not invest in insurance policies and have no recourse but to treat their children as living retirement plans.    

Pelayo recounts the story of a client, a 27-year-old construction company employee whose mother was an overseas Filipino worker (OFW). “Even from an early age, she was already her family’s breadwinner, as her mother’s contributions were insufficient. While she was interested in an insurance policy, after a comprehensive financial assessment, we recognized that she may not be ready to avail of one. We devised a game plan for her to build liquidity and an emergency fund good for at least six months. Once she achieves these goals, we will revisit getting an insurance plan.” While covering such prospects takes months, Pelayo has the tenacity to play the long game and emphasizes the importance of a holistic financial approach, which includes effective money management and asset diversification. 

Contact: MDRTeditorial@teamlewis.com