With our baby coming nearly, I inquire in Philequity on how to open mutual fund account for kids. I know we can do that as parents, I’ve watched it on ANC On the Money segment with Rose Fausto as the guest. Parents, in case you don’t know her, she’s the author of the book teaching her kids on investing in stocks and other financial literacy lessons. I recommend you get a copy in the National Bookstore and apply it with your children.
Instead of getting a college insurance plan for our baby, we’re planning to get a mutual fund account for him instead. Even if it’s Php 1K every month, by the time he goes to college, he can choose wherever school he wants to enroll without any financial issue.
For Philequity, the process is almost similar in opening ordinary mutual fund account. Here are the steps:
1. Download and fill up below forms
- Signature card (On the signature card no need for the signature of your child, only the parent)
- Account Opening Form – Under the Account Name please write on this format: (Your Last name, First name Middle Name “ITF Last name, First name and Middle name of your child”). (Only one can be the primary holder, both parents cannot joint account for this one)
- Investment Application Form (Parent will fill up)
- Investor Risk Profiling Questionnaire (Parent will fill up)
2. Provide clear copies of 2 valid id with visible signature and photo (1 id should be gov’t issued and must not be expired). For OFW, add another working pass ID issued by the current country you are working
3. Provide clear photocopy of child’s Birth Certificate and If student, kindly provide his/her school id
4. Provide proof of Initial Investment. Click here for their bank account.
5. Put all these documents in an envelope and mail to their address below:
Philequity Management Inc.
Unit 2004A, 20/F, East Tower,
Philippine Stock Exchange Center, Exchange Road,
Ortigas Center, Pasig City Philippines
Follow this procedure for applications in the Philippines. For OFW’s, there’s an added steps for your account to be approved. They need the primary account holder to be validated and make sure of the identity. There are 2 ways to do this. First is you go to the embassy and ask them to stamp a CERTIFIED TRUE COPY of your passport photocopy before sending it to them. Second way is they will schedule you for a SKYPE video chat to meet your on camera and brief interview.
(If you are abroad, you can open Philequity account. You just need to provide the application forms and your initial deposit. To know more about it, just message me on Facebook. )
P.S. A year ago, I do not know anything about investment. Then I joined Truly Rich Club by Bo Sanchez. It was the best decision I ever made in my life. Brother Bo is a spiritual preacher and at the same time, financial literacy advocate whose purpose is to help people become rich in order to serve the LORD with the money that they have. He guided me along the way, explaining how I can manage my money and make it work hard for me. Now I’m investing in stocks and mutual funds and have a clear path for my future. Soon I’ll open UITF account as well. All are made possible by his guidance and teachings on every steps to become an investor. Being OFW isn’t forever, this is my EXIT PLAN. It’s amazing how his teachings change my life. I’m inviting you to join the club too, JOIN TRULY RICH CLUB. If you have any question, feel free to leave your comment below. CLICK HERE TO JOIN