Facundo Saparrat, financial planning advisor, co-founder and director of the commercial team of Grupo Abax, a broker specializing in personal and corporate finance consulting, explains how society changed the way it manages its personal finances after the pandemic.
“The pandemic showed the reflection in most people how vulnerable we are economically and especially in countries like ours, of course it is not something that we do not know, but in the day-to-day bustle we do not think about this, and I think that being in our homes for a long time, seeing that we couldn’t go to work, that some of our businesses were closing or we saw that we could get sick or even die, somehow made us aware of the financial support we have behind us to coping with these circumstances that come without prior notice, this caused many people to worry and begin to deal with solving different economic and financial problems within efficient financial planning.
What changes do you think there were in the management of Argentine finances?
I think there was a paradigm shift that generated interest or a change in the management of finances. I am convinced that the pandemic helped us to stop the ball, footballingly speaking, and since we lacked different needs, we learned to value our freedom, our independence more , being able to share with our family and friends, basically being able to enjoy understanding that the most important resource we have is time, and in order to enjoy it we just need some way be calm financiallyFor the most part, many people found themselves in a situation where perhaps they maintained a good standard of living, but this happened because every day they had the possibility of going to work and generating their income, and suddenly the world stopped and this changed in many cases. We at the consultancy seek that our clients or their dependents achieve the concept of financial independence.
What is financial independence?
Not depending on anything or anyone financially speaking seems utopian, but it is not, in most cases they are not fulfilled due to lack of planning, knowledge and because we are raised in a short-term consumer society that wants everything now, without financial education and even a lack of confidence for many reasons, cultural, social, political and historical due to different events that have caused us to lose it. What we are looking for is to ensure that our clients during their active work phase build financial peace of mind for the future, that if they continue working it is for pleasure and not out of necessity, and that if unfortunately problems such as the pandemic or other eventualities appear, they have financial support so that they or their dependents maintain their standard of living without having to make wrong decisions or wait for help from third parties.
People think that we are rational, but in moments of shock, it is where emotionality wins over us and it is where we can make bad financial decisions, that is why it is important to be prepared.
What do you recommend to a person who has no knowledge of the financial world or time to dedicate to managing their finances?
First of all, most people think that to have a financial adviser or get into the world of finance they have to have a lot of money, and this is not the case, there are profiles and tools for everyone, the key is to be encouraged, to have the curious to ask and analyze that there are many variables that affect us day by day and our future, such as inflation, devaluation, political and economic changes and the lack of clarity where we are going, access to credit, retirement, etc. The good thing is that although it seems that everything is black, we can plan within these circumstances and I think that where there is more instability and uncertainty is where we have to do it the most.
Secondly, it is to understand that financial planning is personal and tailored, the financial advisor is a clinical doctor who, through a series of meetings and an exhaustive analysis of different variables such as objectives and needs that the client wants to achieve or solve, will be able to develop a strategy to comply with them, even when unexpected threats appear such as a pandemic or other eventualities that arrive without prior notice.
Facundo Saparrat, in addition to advising people and companies on their personal and corporate finances, is in the commercial direction of Grupo Abax, developing teams and selecting advisors who want to join the financial industry and its consulting firm.
Website: http://grupoabax.com/
Linkedin: https://www.linkedin.com/in/facundo-saparrat-8306943a/
Mail: [email protected]
Cell: +54 9 11 2 364 0849
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