Monthly Archives: June 2015

When bad news comes, Pray!

This is one of the prayers that I normally utter whenever I get bad news. I should respond and not react so badly. Hope you will get inspired
I am not shaken when I hear bad news. I will not let a bad report affect my joy or rob me of my peace. I will not let bad news discourage me or cause me to become fearful. God has a plan for me to overcome this financial adversity. This was no surprise to Him. He will make a way where there seems to be no way. I cast all the problems of this situation over on the Lord. I will not let worry, fear or anxious thoughts trouble me. The Holy Spirit gives me insight, wisdom and favor to navigate my way through this adversity.
God is my provider, my deliverer, and my strong tower. I have learned to live independent of circumstances. The Holy Spirit gives me clear and specific directions concerning what I should do. Jesus will never leave me or forsake me. Therefore I will not let my heart be troubled. I will trust in God and I will boast in His word. What the enemy has meant for evil, God will turn it to my good. I will patiently wait and see the salvation of the Lord.

John 14:27
Let not your heart be troubled, neither let it be afraid.

David Isaiah Angway is a Financial Evangelist

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Filed under Abundance, Bad News, Certainty, Prayer

Red flags of Investment scam

Image by EuroGamer
I am suspicious of all the things that the average people believes.”
H.L. Mencken
History shows that a lot of people are not learning   at other people’s mistakes. We may either blind, financially innocent or not really aware of it. Modern financial engineering is not new anymore. Some of us may be one of the victims of fraud or you know someone who was victimized by a large organization which is insolvent (Not having enough money). Identifying it is just one of the ways how you can prevent yourself from being financially distress. Self- awareness can help you bring   the red flags into the light.
1.   The products are too good to be true  
When someone tells you that the investment product has no risk involve, think again and run away from it. Someone is hiding the fact or keeping the truth from you. Everything has a risk. In every aspect you either gain or lose some of it. When you think about low risk and high gain, does it sounds good?  Yes of course, but no one is offering it aside from those scammers.  There were many people who took that bite and changed the course of their financial life. Lack of investigations will not resolve the issues.
2.   They promise guaranteed returns
Many scammers are selling the end goals but they seldom explain the process and the journey of it. They intentionally hid it from you and presented what you wanted to hear to lure you with the products and services. They always highlight the   return   with minimal financial sacrifices.       Maslow’s     hierarchy of needs tells us that we need security in our lives. If we apply it in investments, having a secured return of   it   will be a more financially sound decision for a lot of people. When a scammer addresses that need it will be a monster disaster when you get in.
3.   Be mindful of “The Credible guy”  
All fraudsters were credible guys before their skills were exposed publicly. Before Ponzi scheme became a worldwide term he became a financial advisor of Prime Minister Benito Mussiolini. I just want to remind that financial freedom is in your hands so do your own due diligence. You know someone who has credibility but check also their qualifications like their values system. Never stop asking questions until you get the right fit. The fact that they are credible, it should also be verifiable.  Most of the time we just trust and give all the money that we have blindly, not knowing the background of that con-artist.
4.   Everyone is buying that
Without checking your goals, visions and emotions you will be trapped immediately. The problem about the herd mentality is everyone doing it, so it must be good. Big no! The quick rich scheme mentality will easily gobble you up. The power of social pressure will pull you underneath the surface. Behavioral Finance Expert Daniel Kahneman states,” that driven by emotional reactions such as greed to gain money and fear in losing funds, you normally conform to the desire to be accepted by a group”. As a result, investors were seen joining frantic purchasing of that products resulting in economic crises. Example, the CAP (College Assurance Plan).
5.   They pressure you to get the products.
Biggest scam tactic is to let you feel that this is the last ride , limited editions, phase out and the availability of the product will not be visible for the next couple of years. Creating a false sense of urgency by claiming limited supply gives you this impression. Joining the bandwagon is good but be careful. The Budol Budol gang, the Aman futures group used these strategies to lure investors. The famous Ponzi scheme even tried to do this. We use emotion when we buy, but we use logic to defend why we buy things.
6.      The Reciprocity Tactic.
Many fraudsters asked investors to attend free seminars while other legal entities are also doing the same thing. Now, how will you know who is telling the truth? This is a tricky part. Offering to do a small favor for you in return for a big favor is a classic example. They give  materials, free lunch or dinner. Without you doing some intense research about the company, products, business model and the one selling the services you are at the brink of financial disaster.
These are just red flags but not totally immediate indicators that the company is a scam. Before you invest, be cautious, be aware and investigate.

But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction.  1 Timothy 6:9

David Isaiah Angway is a Financial Evangelist

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Filed under Finance Tips, Malicious, Scam, scheming, Win Long Term

Perception of Financial Professionals

Based on a Millennial Research Study
What is your perception about financial professionals?
(N=755 Principal financial group)
Financial professionals are stockbrokers, mutual fund representatives, insurance agents, tax preparers and financial planners are all members of this group. Financial Coaches, Estate planners and bankers may fall under this category as well. In order to conduct business with the public Advisors must carry licenses.
Engaging with financial professionals today got this common perception from millennials or generation Y today. Researchers use birth years ranging from the early 1980s to the early 2000s.
1.      Financial professionals have an expertise in financial services that I am not an expert in
Clients believe this since Advisors underwent so much financial training.  This is a must, since advisors are selling their skill set. As a knowledgeable individual, Advisors can educate you on what would be suitable to your needs. Advisors can give insights and expose blind spots that you are vulnerable in the long term.
2.      Financial professionals look out for the best interest of their client 
Part of the job is to make the client happier and achieve financial security thru different strategies for such a long time. Client centered, and not product centered is the main goal. As a client you deserve to achieve that satisfaction.
3.     Financial professionals are expensive to work with
Advisors are well trained and paid individuals, they put a lot of investment to it that’s why clients need to pay the right amount price for the service involved. We call it cost-benefit analysis. The advice and collaboration that an advisor can give is so valuable for a client to win, but somehow they think it is so expensive, that they cannot afford the service.
4.     Financial professionals are most interested in selling a product to make commissions or fee on.
Most clients get skeptical when a financial advisor shows no empathy at all with their situation. Many financial advisors focus on the product feature than emphasizing the benefits to their client. As a client they should feel right about the product and the person selling it.
5.     Financial professionals save me time           
One goal of a professional advisor is to assist and guide the client make a fitting and a workable decision for the client. As a client, it is understandable that you don’t know where to start. Advisors can give you a structure and help build your financial house in a timely manner. DIY project thru researching the best suitable products is great for clients but with the help of the advisor it can be excellent in reaching financial goals just in time.
6.      Financial professional provide more confidence 
Education and constant follow up is the way to build relationship. The advisor should build it brick by brick thru the course of time. The more your advisor communicates and updates you with the health of the market and coming up financial strategy, gives you the ability to make a wiser decision.
7.      Financial professionals only work with the wealthy
Many potential clients think this way because they feel that the money that they have is not enough that professional advisors will not really care too much. All financial professionals have a target market but since this is a profession and to become more effective, Advisors need to serve a specific market such wealthy families, low income and middle class individuals.
8.      Financial professionals don’t speak in terms that I can’t understand  
This is the sad truth about the advisors because some of them talk like aliens. The Advisors who communicate in a jargonized way has a deep problem understanding the client needs. Hence the reasons why most of their potential target market either run away or hide from them.
9.     Others (Theory)-  I am wiser than those financial professionals.
           Financial professionals are not ethical.
In conclusion, financial professionals should if not maintain, exceed the level of service that they are offering nowadays. There are a lot of strengths and opportunities in the financial services industry and the research shows how we can improve from it. Financial products, its just an icing on the cake since the clients needs is the main course.

Getting personal

·         What do you think about the financial services industry today?
·         What types of financial advisory group needs to improve?
·         Why do you think financial industry services should invest as well in low income families?


For more info about the study. Check Millennial Perceptions

If you have questions send me an email at

David Isaiah Angway is a Registered Financial Planner and a Financial Evangelist


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Filed under Financial Professionals, Market Research

Financial Coach VS Financial Adviser

Graph courtesy of Financial Mentor
Today you will know the big gap between the two. You might be confuse with the term but coaching process and giving financial advice is like a night and day.
Financial Advisers want to take care or manage the funds that you already accumulated while Financial coaches help you to be accountable and build your wealth your own way thru your knowledge and skills set.

This is the principle  financial advice is like giving a man a fish and expect  he will be  hungry again in an hour. If you teach him to catch a fish you do him a good turn and that is the impact of financial coaching process.

Financial coaching is driven by goals of the client, coaches help people develop skills and behaviors they can improve upon independently. The benefits of financial coaching are improves financial capability and increase savings.  According to center for financial security, coached clients are more likely to have a financial goal and be more confident in their ability to achieve that goal compared to those who do not work with a coach. You are in control of your finances because you are smarter and have skills in making a better informed decisions

Financial advice  focuses on your portfolio by providing specific securities and investment advice. The financial adviser business model is all about managing the money you already have. You give them control of your assets and they do the work for you. (Todd, financial coach, owner of the Financial Mentor  Website)
Investopedia defined financial adviser as professional who helps individuals manage their finances by providing advice on money issues such as investments, insurance, mortgages, college savings, estate planning, taxes and retirement, depending on what the client requests. Some financial advisors are paid a flat fee for their advice, while others earn commissions from the investments they sell to their clients. Fee-only arrangements are widely regarded to be better for the client.

Traditional Financial Advice will always fail you – and the Statistics Prove It
In a changing world and economy if you will follow the  old advice of your friend who is not well verse financially you might end up retiring without dignity. Not all advice will be good to you and not all financial products will be suitable to your needs.  

In a research based study the issue with retirement shows that 2 out of 100 can retire very well and live comfortably. Imagine yourself believing those money myths that you have now and I can guarantee that it will cost you a lot. Financial coaches and financial advisers can help you make sound financial decisions but you have to choose whether you will be the authority or not.

Getting personal

1.      What do you think is superior for you and why?
2.      Who do you prefer to have a collaboration when it comes to your wealth habit?
3.      Why do you need financial adviser and financial coach in your life?
4.      What particular character would you like to see from your financial coach and financial adviser?

David Isaiah Angway is a Financial Evangelist

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Filed under Financial Advice, Financial Coach, Financial Literacy, Personal Finance

Clench fist financial planning

A clench  (close)  fist in the area of financial management is full of greed that tightly held so that those precious funds (moolah) will never get away. The close fist represents someone who doesn’t know how to give. They think that if they hold those money so tight they think that they will reach financial freedom. People who don’t give because of shortsighted misunderstands how this so called money works. These folks are so weak and insecure, they believe that they get more by hoarding and gripping those funds.
The problem with clench fist financial planning ARE:
1. It is born on weakness 
 Maturity shows up when you don’t clinch. When you try to open your hand that means you are starting to open up your mind. It is also a gesture of invitation and acceptance. Dave Ramsey said  “When we are scared we fight, clench our fists and prepare for battle because we don’t have the perception or position of strength to avoid a fight. So while a closed fist is a sign of battle it is born of weakness.”
2. Insecurity is the motivation
There are many people who don’t give because they felt they don’t  have enough. The money they think they have right now will not be sufficient at all. Giving is a counter intuitive approach.  Open hand is NOT part of the vocabulary.  They let this clinch fist tactics to make their insecurity stronger than ever. Me, myself and I is the anthem of this people which is unhealthy at the long run.
3. Against Biblical principle
When you hoard too much, you exercise your free will  a lot. But, you were created to give something in the first place.   Giving is motivated by grace. Your capacity to give has a spiritual connection too. Remember that in relation to (Gal. 6:10) So then, while we have opportunity, let us do good to all men, and especially to those who are of the household of the faith. This passage shows  that we have no right to hoard money or possessions when we are aware of others in legitimate need. Once you are in clinch fist that means there’s an issue with stewardship. This principle applies to the Body of Christ, since we are part of the  family of God and we are consider as brothers and sisters of each other–and also to the non-Christian poor. 
4. You will surely stinks    

When you don’t take a bath for awhile your nasty odor will surrounds the whole place. It will be devastating for your friends, colleagues or strangers to be around you. Swamps are characterized by slow-moving to stagnant waters. When you hold that too much water without releasing it imagine the toxic waste that’s accumulating inside it this will make you stinky than ever. Clinch fist money management will help you become worst and not achieve financial freedom.
5. Financially imprison

Many people wants to experience financial freedom but still imprison with poor money mindset. You are in chain if you follow this rule.  Way back World War 1 and 2 there were many people who gave their lives to their country for the sake of freedom. Giving is one of the major reason why we are free today.  Break free from those money myth and you will achieve a higher purpose why you need to open your hand.

When it comes to financial planning and wealth building habits we need to be aware how to let go of the financial myths and renew our mind with new set of rules. 

Getting personal
1.      Can you describe your ability to give today in the aspect of Money, Time, Talents.
2.      How many percent do you normally give to the non profit organization like church, charity or orphanages?
3.      Do you have a budget for giving (Benevolent fund)? Can you justify why do you give the way you give?
4.      What are your action plans to prevent the clench fist money management?
5.      Where do you see yourself in the aspect of giving after a year?

David Isaiah Angway is a Financial Evangelist

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Filed under Financial Coach, Financial Planning