A father-daughter team teaches you how to be rich with financial literacy

MANILA, Philippines - Before the stock market made Edward K. Lee the wealthy man that he is today, it made him bankrupt first. Then a college student, Lee saw all his investments and then some vanish when the market crashed in 1974.

Still, it was this experience, as well as his belief that “every Filipino deserves to be rich,” that served as the foundation of COL Financial, the leading and fastest-growing online stockbrokerage firm in the Philippines, of which Lee is the chairman and founder. Formerly CitisecOnline, COL Financial advocates financial literacy and independence through long-term investments in 16 blue-chip Filipino companies. The companies, which include the likes of Jollibee, Ayala Corporation, and SM Corporation, are all carefully chosen and highly recommended for their consistent performances and profit opportunities.

Solid enough to withstand everything from a political upheaval and economic crisis to earthquakes and typhoons, these companies, Lee points out, are run by families poised to be around for generations. “Can you imagine the biggest corporations in the Philippines working for you?” he says. “And all you have to do is allocate 20 or 30 percent of your income a month to investing in the best companies in the country. Twenty or 30 years later, no matter how small your money was when you first invested, you would have made more money than you ever thought.”

Like the thousands who have benefited from the online brokerage firm’s seminars (its Investor Education Program empowers clients with historically- and data-backed strategies for them to make more informed choices about their money; the popular Easy Investment Program teaches newbies how the stock market works), Lee’s two sons and daughter have applied their father’s teachings on financial literacy and independence in their own lives.

“Believe it or not, I never forced any of them to join me,” says the senior Lee. “But I also really don’t believe that you should be trained by other people before you join the family business. I think it’s all a matter of talking to your kids constantly about the value of making money and they believe as well as I do that the stock market is the way to go. They believe in our business and that’s where it has to begin.”

Middle child Eleanore is certainly proof of that. Asked how she, with her well-to-do background, continues to devote her time and effort to building the business by educating the public about financial literacy, she says, “people think it’s some complicated science but actually it’s not. My dad just spent time talking to me every day about his life and how difficult it was when he didn’t have any money and was trying to earn a living. Stories like that really make you appreciate what you have. If he didn’t spent time with me, I don’t know where I’d be!”

Indeed. Despite being the only girl, and one who was doted upon by Dad growing up, Eleanore saw the value of saving and making her own money early. Earning her keep in radio before she worked in an advertising agency then for COL Financial in 2008, Eleanore says she and her fiancé (now husband) already had similar habits regarding personal finance when they first met. They had both started early on to dutifully set money aside and watched it grow slowly but surely in long-term investments. “Thanks to that, we were well prepared for the big life goals, like getting married, having a baby and providing a good education for our child. It probably wouldn’t have happened if we hadn’t begun investing at a young age,” she says, beaming.

In hindsight, COL Financial’s marketing manager had been working for her father long before she joined the family business five years ago. At 13, Eleanore was, as the senior Lee put it, “chief entertaining officer,” a smart and charming associate who conversed with her dad’s many business friends and colleagues. “She was always beside me in the office,” recalls Lee, a former Philippine Stock Exchange governor, with a twinkle in his eye. 

As such, people have said she is exactly like Dad, an observation that makes her laugh yet one which she doesn’t deny. “I’m a mix of him and my mom,” she clarifies. “My mom believes that a woman’s place is in the home and behind every successful man. My dad is more career-oriented, he’s very driven. One of his biggest priorities is growing businesses and making them successful. I learned that from him. So growing up I was very strong-headed and strong-willed.”

Thus, disagreements between the two are to be expected, especially when you have thousands of investors’ best interest at heart, reasons Eleanore. Still, if there’s one thing this dad and daughter agree upon, it’s the fact that we’re in a company that has a purpose and is doing something good for people,” she declares. “Financial literacy is an advocacy and I love that aspect of it. When I market it, I can talk about it with so much eagerness.”

Today, the family that committed to helping people make money is experiencing a growth spurt of its own. COL Financial controls 70 percent of online transactions, and its clients number rising to 50,000 and counting — that’s 45,000 more than in 2008, which goes to show how exponentially their financial education campaign has inspired new investors in the past five years.

While both father and daughter never expected the company to expand to such overwhelming proportions, such rewards are merely the laws of life in action. Of the many lessons learned from her dad, Eleanore believes responsibility is most important. “Coming from a good family and having been loved unconditionally and taken care of by my parents, my role is to love and look after my own kids in the same manner,” she says. 

For the self-made man Lee, who can never say never to opportunities to educate people about their finances, mastering three words leaves him with a feeling of fulfillment all the money in the world couldn’t buy. “Gratitude, compassion, and generosity,” he enumerates. “If you can learn them, you’re set for life. Especially generosity, not only in terms of money but in terms of time. The blessing,” assures this financial whiz, “is tenfold.”