AmCham forum: Financial literacy key to investment success

Financial literacy was underscored as a vital tool for both novice and seasoned investors during a virtual event hosted by AmCham Guyana on Thursday.
Titled “Unleash Your Financial Future: A Beginner’s Roadmap to Financial Planning and Investing,” the session aimed to equip participants with fundamental knowledge in personal finance and long-term wealth creation.
The event featured a panel of leading financial professionals, including Richard Isava, Managing Director at Guyana Americas Merchant Bank; Lisaveta Ramotar, Senior Associate at New Hayven Merchant Bank; and Kevin Maraj, Executive Director at PwC Guyana.
Targeted at individuals seeking a foundation in financial planning, the session focused on core principles such as risk management, investment strategies, budgeting, insurance, retirement planning, and financial goal setting.
Ramotar, in her presentation, emphasised the importance of seeking expert guidance at the start of one’s investment journey.

“Work with an established, professional financial advisor. The reason is, while many of us have skills in medicine, or law or so forth, finance is a field on its own and there are very specific peculiarities and therefore by working with a financial advisor they’re going to be able to tease out your needs, wants, risk tolerance, etcetera. The other thing I would say is really discipline is required, so not every movement in the market you should be reacting to. And the last thing I would say is ensure that you have a diversified portfolio. You may think for instance that Apple stock is doing extremely well and all my investment should be in Apple, but that is not wise. Working with a financial advisor, you’ll be able to understand that having a diversified portfolio really allows you to reduce your risk and reduce your volatility,” she said.
Echoing these views, Maraj called on attendees to take a proactive approach to financial education.

“Learn continuously. The more you learn, I would say is the more you would actually earn. Money is not something that comes with instructions necessarily. Most people were not taught how to invest, how to budget, they don’t understand simple financial concepts, but you can teach yourself and the return would be massive– especially over the long-run…We have a number of financial podcasts that are available for free. It might be reading a financial book a year, but my best piece of advice would be to understand money, it would make you able to make better choices on loans, on investments, even job offers and those types of things,” he noted.
Meanwhile, Isava issued a warning against engaging with unlicensed financial actors, urging vigilance and regulatory compliance.

“Be guided by qualified, registered advisors in Guyana, to buy products that are registered with the Guyanese securities exchange commission…you have to be very wary of how to invest, who you deal with and what types of products you buy,” he cautioned.
The session reinforced the message that financial literacy is not only key to informed investing, but also to achieving long-term financial stability and success.