Umesh Panta is a Senior Financial Planner with AIA Financial Wellbeing. He cherishes close ties to his community through volunteering and values his ability to help improve people’s wellbeing in small but significant ways.
ARTICLE
Meet the team: Umesh Panta, Senior Financial Planner
08 May 2023
3 min read
3 min read
Hi Umesh, first things first: What do you like about being a financial planner?
I really want to make a difference in people's lives, to ensure they have a good financial plan in place and are not financially exposed in case of unexpected life events.
How long have you been in the industry and what changes have you seen during that time?
I have been in the industry very close to 20 years now. In that time there have been significant changes in the way we do things and how we provide advice. But what hasn’t changed is the fundamentals: providing quality advice in the best interest of the customer, who has placed their trust in a financial planner to guide them on their financial journey.
I live every day with this value and I feel confident that I have done my best and honoured the trust of every customer to whom I have had the opportunity to provide advice over the course of my career.
What does financial wellbeing mean to you?
It’s staying fit and healthy for an inner smile every day and for every situation in life. My wellness and happiness support my passion to understand what's important to my clients, so I can add value to their lives, give them peace of mind and help improve their financial wellbeing through a solid financial plan. The best conversation is when I get that opportunity to reassure my clients that their financial plan is moving in the right direction to meet their goals.
What’s the most common question you hear from your clients?
How can you assist me and my situation? My response to my clients is always “I will use my many years of financial planning experience to develop a financial plan that is right for your situation.”
Many of us are feeling the pinch of the rising cost of living – what’s your advice on how best to manage these challenges?
The key is having a good budget in place, living within that budget, and regularly reviewing expenses including your home or investment loan interest rate. Is my interest rate competitive? Is a fixed or variable term loan the right solution for me? Living within our budget is also about priorities and sacrifices. For example, we might have to sacrifice an expensive overseas holiday in order to live within our means and absorb rising costs of living. Ending up in an out of control negative cashflow situation is definitely not good for our wellbeing, so it’s important we manage our budgets with discipline.
Crypto currency – good or bad investment?
Crypto currency is a high risk investment. It is not regulated, there are too many of them and competition is growing. Therefore I would approach investing in Crypto with caution. With any investment we have to be very clear about the purpose and time frame of the investment, and also take into consideration overall portfolio diversification and the risk tolerance of the investor.
If you won the lottery, what would you do with the money?
I would pay off my debt and then establish a charity to support disadvantaged kids with their education, because I believe that education is a fundamental right for each and every child. A good base level of education opens up more opportunity and choices in life and is key to closing the wealth gap between certain parts of society in a way that can improve things for generations to come. I feel lucky that I am the beneficiary of a good education system.
What do you do for fun?
Spending time with family and friends. I also enjoy sporting activities like golf, which I haven’t been prioritising much recently – note to self, make time to do that!
What’s important to you in life?
I like to bring the best version of me in everything I do. I want to make a positive contribution to people’s lives, even if only in small ways. From a professional perspective, I get satisfaction from making that little difference through financial advice, and I also enjoy making a personal contribution towards a better world through volunteering.
How do you look after your personal wellbeing?
I now better understand that my physical and mental wellbeing is truly linked to my financial and overall wellbeing. Therefore I aim for at least 5,000 steps or 30 minutes of exercise each morning to set me up for a great start to the day.
Talking to a financial planner can help you understand your situation and make confident financial decisions (big or small) so you can get the most out of life.
Disclaimer:
Copyright © 2023 AIA Financial Services Pty Limited (ABN 68 008 540 252, AFSL 231109), trading as AIA Financial Wellbeing. All rights reserved. This information is current at the date of this publication and is subject to change. This provides general information only, without taking into account factors like the objectives, financial situations, needs or personal circumstances of any individual and is not intended to be financial, legal, tax, health, medical, nutritional or other advice. Before acting on the information in this publication, individuals should consider its appropriateness having regard to such factors.
Copyright © 2023 AIA Financial Services Pty Limited (ABN 68 008 540 252, AFSL 231109), trading as AIA Financial Wellbeing. All rights reserved. This information is current at the date of this publication and is subject to change. This provides general information only, without taking into account factors like the objectives, financial situations, needs or personal circumstances of any individual and is not intended to be financial, legal, tax, health, medical, nutritional or other advice. Before acting on the information in this publication, individuals should consider its appropriateness having regard to such factors.
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