Financial Planning In Cambodia



The financial planning market in Cambodia is still relatively young, underdeveloped and under-regulated. However, with a rapidly expanding economy, driven partially by a thriving banking and financial sector, and more and more expats settling in the Kingdom, the need for suitable financial advice becomes ever more pressing.

Andy Willard is the director of TAG Wealth, a subsidiary of the Australia-based TAG Group offering complete financial planning solutions to expatriates across the region. TAG Wealth entered the Cambodian market in 2013 with the vision to provide “impartial, simple, hassle-free advice and service” to ensure its customers’ “financial security and maximise their wealth.” Andy talks to the B2B team about the company he co-founded and the market where it operates.

B2B: What added-value does TAG Wealth bring to the financial services market? What do you feel is your selling point?

Willard: As a privately owned company, which is incorporated in Australia, we bring a fresh approach to Financial Services in Southeast Asia (SEA). We partner with our clients to tailor a financial planning package that is right for them. In essence, we are offering an independent, impartial and ethical financial planning service rather than simply selling financial products. We are committed to building a market leading presence based in Phnom Penh and will be providing our services to clients living in Cambodia and throughout the entire SEA region.

B2B: You have a wide range of products aimed at the expat. Which financial product or package is most popular among your Cambodia-based customers?

Willard: Our Portfolio Review package has been extremely well received. Many of our clients tell us that they have previously received poor or misleading advice from advisers that have since left the region. This inevitably leaves a client with products that are not fully understood, are not right for them and are never adequately serviced or reviewed.

We undertake a full review of a client’s existing arrangements and rectify any issues. We then prepare a new comprehensive plan and ensure that their goals and objectives remain on track for the future.

B2B: What are some of the companies TAG Wealth partners up with in Southeast Asia to provide their financial services?

Willard: We have a strong business relationship with Standard Bank, which offers day-to-day banking solutions designed for the expat market. We also recognised a need for Life Insurance and Income Protection Insurance products in the region and utilise the services of William Russell Insurance. These are in addition to Now Health, who offer private health and emergency repatriation services and a variety of funds management groups all offering offshore investment products to suit the expat market.

B2B: For the expat, what is the advantage of using the advice of an offshore financial services provider, such a yourself, as opposed to relying on local firms?

Willard: Expats generally enjoy careers that encompass roles in many countries throughout their working lives. Most expats require a mixture of short- and long-term plans and products to suit their busy lifestyles. We therefore find that most clients prefer to purchase or invest in products that can easily be retained anywhere in the world. We can tailor a solution that allows for their financial plan to be reviewed and updated wherever they choose to reside throughout their expat career.


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