Formula for Success Found in Financial Planning

Banco Popular’s Financial and Insurance Services, after 25 years on the market has been able to validate its position within the financial industry through a particular strategy that makes it unique in Puerto Rico

“Management of personal finances has changed a lot from the ‘80s until the present,” said Juan Guerrero Preston, executive vice president of Banco Popular Financial and Insurance Services group. “During that time, people were making their investments in brokerage houses, where they were assisted by an asset seller. When we decided to develop the service offering for our customers, we did it based on the concept of financial planning, because we understood that customers were not receiving comprehensive guidance regarding their financial situation. Although initially there were doubts and resistance, with time we have been able to achieve the integration of different teams and currently, we offer a platform that provides guidance, sells products and offers services with the help of professionals with knowledge in different areas such as banking, investment, accounting, legal and insurance, among others. This type of platform did not exist, and it became the key to distinguish ourselves from the rest of the market,” added Guerrero.

“There are fewer assets in the general market and people have lost money, but at the same time, we have seen more customers embrace Popular One’s offering because they have realized that the management of personal finances is much more complex than purchasing the day’s hot-selling product. In this process we must identify the risks, plan, be well-organized and diversify in order to obtain the desired long-term results,” Guerrero explained.

After more than 20 years of experience guiding customers from different Popular units and after a thorough analysis of the market, in 2010 under the name of Popular One, we launched the service integrating banking, investment, insurance and financial planning. Today, this project, which had been conceptualized since 1992 in the Private Banking division, is a platform aimed at providing personalized guidance with an ample variety of financial services. Today, ten years after its creation, Popular One reaps the success of its strategy.

“Investment Services offered through Popular One differ from traditional brokerage houses because, through Popular Securities, we have professional experts with ample knowledge and access to a diversity of areas of expertise, including financial planning, providing guidance in investments and insurance. We work together with our customers to identify their particular needs and understand their plans for the future, then draw the investment strategy to follow,” Guerrero said.

Within Popular One, we provide banking services via the Wealth Management unit, investment advice through Popular Securities which celebrates 25 years of service this year, and Popular Insurance, with 20 years of industry experience. Guerrero added that the “integration of the professional group that composes Popular One has been key in the increase of our customer’s satisfaction.”

Popular One is located in six offices in Hato Rey, Cupey, Condado, Ponce and Mayagüez.

The Popular One team is composed of more than 90 professionals with high credentials in their respective fields, including lawyers, Certified Financial Planners (CFP ^®), Certified Private Wealth Advisors (CPWA^®), Certified Investment Management Analysts (CIMA^®), Certified Public Accountants (CPA), Certified Insurance Counselors (CIC), Fellowship – Life Management Institute (FLMI), Certified Risk Managers (CRM), Charter Property and Casualty Underwriters (CPCU^®) and Chartered Financial Analysts (CFA), among others.