Jason Co Launches FAANetwork to Link Asian Americans, CFPs

Jason Co launched the Fiduciary Asian Advisor Network during Asian American and Pacific Islander Heritage Month to connect Asian American consumers with certified financial planners. The online directory seeks to improve access to advisers who follow fiduciary standards.

FAANetwork operates as a public directory at FAANetwork.com where participating planners register to be listed. Revenue from registrations will fund educational content aimed at increasing awareness of fiduciary advice within the Asian American community.

Co is a certified financial planner and founder of CoPlanning Financial. He built his solo practice over several years with online video content and search referrals and reported that leads rose notably in his fourth year.

Co cited several reasons for creating the network. He noted that households in many Asian American communities worry about job security, supporting children and aging parents, taxes, debt, health care and whether they have saved enough for retirement.

He described two types of barriers. On the consumer side, cultural views often treat money management as a private duty and some people view hiring an advisor as an admission of failure or exposure of personal finances. Many are unaware that objective, certified advisors exist and some have distrust of financial institutions related to past economic experiences in their countries of origin.

On the adviser side, Co noted that some professionals stop pursuing these clients after doing initial planning work that does not lead to ongoing fees. He said the asset-under-management sales model, which offers limited planning up front to win long-term fee business, frequently fails with this population.

Co pointed to examples he encountered in his practice: families with most of their net worth tied to real estate who feel unable to spend in retirement, and immigrant clients who bought complex insurance products sold through community networks that did not serve their long-term needs.

The directory will highlight advisors with experience serving immigrant families and multigenerational households. Co expects registration fees to support ongoing educational materials to raise further awareness of fiduciary planning among Asian American consumers.

FAANetwork launched publicly during AAPI Heritage Month and is available at FAANetwork.com.