In today’s episode of Framework, Jamie talks with Phuong Luong, the founder of Just Wealth Planning — a mission-oriented wealth planning firm. Phuong is the first member of her family to be born in the U.S. and has had an interesting path to being recognized as the future of the financial planning industry.

Phuong was interested in personal finance from a young age. Being a first-generation American meant she had to navigate the U.S. financial system on her own, mostly out of necessity.

After college, she became a math teacher and went on to get her Master’s in special education. She knew she wanted to continue to help people but move out of teaching, so she went into financial planning.

She initially worked with a non-profit before striking out on her own and doing financial planning and consulting. She soon realized that the financial planning industry allows you to choose any path you want, work with the clients you want, and serve the causes you want, which gave her the flexibility and drive she was looking for.

Phuong talks with Jamie about her winding path from adolescence to post-graduation and teaching, why more young people should get into the industry, and how you can actively change the system rather than trying to change your clients.

(19:41) “I think my career, if you were going to summarize it, is changing the system to meet people’s needs rather than trying to change people. And I feel like that’s what the education system often does — it tries to change the people instead of changing the system. ~ @pt_luong

Main Takeaways

  • To young people looking to get into the industry, there are plenty of ways to become a financial planner and still pursue your interests. There are many different paths to take within the industry.
  • As financial professionals, we should be looking to change the system to fit people’s needs, not the other way around.
  • Be conscious of the companies you invest in. Understand what their values are and then ensure that you and your clients feel good about the investment.

Links and Important Mentions

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