Mymy Nguyen has more than five years of experience in paraplanning and a Masters degree with Distinction in Global Finance. We love her enthusiasm for ensuring technical analysis delivers financial wellbeing outcomes as the means for helping clients attain a happier life. When not using her mind for money and maths, Mymy enjoys playing the piano in her spare time. In our first IFW Member Showcase, Mymy lets us know how she is implementing financial wellbeing in her work, and what brings her joy beyond work.
What’s your happiest memory?
When I travelled to Europe with my parents in 2019 and saw their happy faces to explore the Western environment for the first time.
What one thing do you wish you’d been told about finance when you were 15?
My net worth is not equal to my self worth.
What made you want to become a paraplanner?
I’m an analytical kind of person who loves this technical side. Paraplanning brings me purpose in life where I can convert numbers and words into more meaningful messages to answer the client’s questions about what it means for them.
What prompted you to join the Initiative for Financial Wellbeing?
I have been fortunate to get involved in financial coaching since I started my paraplanning career. When I wanted to upskill myself, I was confused about which structured materials or training I should take to learn more about this topic. So it motivated me to join the IFW.
Why were you drawn to financial wellbeing to underpin your business practices?
I came to early definitions of financial wellbeing when my first company had incorporated coaching into their financial planning process before I joined. Since then, I have worked with many advisers who strive to embed coaching into financial advice so I understand their powerful impact on the client’s wellbeing.
What’s the biggest thing you’ve learnt about financial wellbeing since joining?
Measurement tools of wellbeing introduced in IFW meetings and conferences, and how to incorporate it into the business to show the evidence on how we can improve the client’s wellbeing. These tools are backed by science or research from experts.
How has the way you work with clients changed since you joined?
I have paid more attention to the meeting notes and use the client’s words in the reports. The advisers are doing a great job incorporating wellbeing in face-to-face client relationships. I want to reinforce this focus by sending them a report that replays the soft facts and their language to reflect what it means to their wellbeing, rather than generic product/solution content in the spectrum compliance allows.
What or who is your favourite wellbeing book or guru?
‘Money Magic: Unleashing Your True Potential for Prosperity and Fulfillment’ by Deborah Price.
What are you doing to achieve your own financial wellbeing goals?
I have detached my self worth from my net worth as well as the amount of money I earn. I have an ongoing reflection routine to journal what brings me joy and purpose in life, then allocate my finances towards those areas from my experience at work. I have become more mindful of my narratives around money and now use empowering language to improve my wellbeing in general.