Professional Documents
Culture Documents
04 May 2016
PROJECT PROPOSAL
FinEd
TABLE OF CONTENTS
I. Summary
II. Introduction
III. Needs/Problems
IV. Goals/Objectives
V. Procedures/Scope of Work
VI. Timetable
VII. Budget
IX. Evaluation
10
X. Endorsements
10
11
XII. Appendix
11
I.
Summary
Wilson & House started in 1990 and in the 26 years, it became the leading consulting
firm in the country. The company aims to help companies as well as individuals in their financial
endeavors by providing services for taxation processes, budget management, and consultations.
Aside from these services, financial literacy is highly valued by the company. Thus, Wilson &
House expanded to offering investment analysis and conducting seminars and classes on
investing.
FinEd is one of these projects tackling financial literacy. Unlike past projects done by
Wilson & House which had been for barangays, FinEd targets students of the University of the
Philippines - Diliman. This project will be composed of financial literacy classes held weekly
and a simulation contest wherein students can apply what they have learned in the classes. The
topics of the classes will depend on the initial survey regarding preferences and interest.
Meanwhile, the simulation will be a mock stock market coupled with case analyses.
This project aims to increase financial literacy among students and to encourage them to
open accounts to start investing and properly manage their money both for present and future
use.
II.
Introduction
Wilson & House is the leading financial consulting firm in the Philippines. Established in
1990, the company has ventured from simple financial management consultations for businesses
to tackling individual financial literacy. In detail, from offering services for taxation processes,
budget management, and strategy consultations, Wilson & House now offers investment analysis
for small and medium enterprises (SME) and students. It also conducts seminars and classes on
investing. It is now recognized internationally and has recently been ranked 3rd in the worlds
"Most Admired Knowledge Enterprises" in the 2015 Global MAKE study.
Wilson & House values growth in intellectual capital and financial literacy, especially in
the Philippines where only 25% of Filipinos are financially literate. We believe that not only the
well-educated and wealthy can invest, but anyone regardless of educational attainment and
income. In addition, technical skills are not required to invest. With these in mind, we do our
best to create projects that aim to teach the basics in order for people to be able to begin
investing. For example, we have executed seminars in Barangay 159 Zone 17 Malibay, Pasay
City. Malibay is a large community whose population is composed primarily of wet market
vendors, students, contractuals (working in the Mall of Asia). After a two day seminar, 57 out of
the 80 attendees opened an account, 45 of whom still continue to invest.
We also hold seminars for our employees and even hold contests to further encourage
them in their investments and ventures.
III.
Needs/ Problems
As mentioned earlier, only 25% of Filipinos are financially literate. The government has
recognized this problem but no direct solution has been executed to tackle it. The government
pushed for accessibility of bank accounts and financial services (Caraballo, 2015). However,
even with the increased accessibility, people are still, generally, financially illiterate and these
services turned out to be of no use to them. Also, President Benigno Aquino III signed on August
27, 2015 RA 10679 or the Youth Entrepreneurship Act which was supposedly for financial
literacy, but it focused more on teaching entrepreneurship (Bacani, 2015).
In addition, Asian Development Bank (ADB) conducted a study and concluded that the
Philippines does not have a national strategy for financial education. The school system in the
country does not teach students to handle their money (Mendez, 2015). This poses a problem
people deal with money all their life but are not taught to handle them may it be from money
saving tips, debt management, money handling, or investing money for the future.
To assess and specify the study on financial literacy among UP Diliman students, Wilson
& House conducted a survey among 100 students from different colleges excluding the School of
Economics and the Virata School of Business. 12 of the respondents have enough confidence to
say that they are financially literate. Meaning, they have knowledge on stocks and other financial
options. Out of the 12, 8 (0.08% of the respondents) said that they have already started investing.
61 of the respondents said that they do have minimal knowledge (aside from knowing the term
per se) about financial options open to individuals. The remaining 27 respondents said that they
admit to know only the names of these financial options. From this survey, we have found the
need to really push through with our project to promote financial literacy among those with, full
or partial, or without knowledge on their financial options as students.
IV.
Goals/ Objectives
FinEd aims to:
Provide an avenue for students to test their skills and learnings through
simulations
Inform students how being financially literate can make the country grow and
create an impact on its economy
V.
They will be asked to form teams of one to three students for the competition.
They will be given access to the case materials and the simulation programs and provided
with currency to invest with at will on the given platforms.
There will be a designated member of our team tasked to answer any queries
regarding the competition rules and regulations. A page will be set up in order to
consolidate all queries and view the leaderboard.
At the end of the series of classes, the winner will be decided and prize money of
Php 30,000 will be awarded to the most successful individual or team. The others part of
the top 4 will be awarded Php 5,000.
3. Sustainability
Students will be offered a stock investment option. In this option, a minimum of
Php 2500, lower than the regular option which is Php 5000, is needed to be able to open
an account. Wilson & House will be handling the investment with 0.25% brokerage fee
for every transaction.
For students who cannot reach the minimum amount individually, they can sign
up as a group. They will be asked to sign a contract containing the individual amounts
given by each one and their percentage to the total amount. These percentages will
determine the share each one will receive when there are returns. The letter will also
contain a clause that states consent of all on the team members must be acquired before
money is withdrawn from the account. A withdrawal form with all their signatures must
also be filed. This type of contract only applies for contributions below Php 5000. Once
an individual contribution exceeds this amount, it will be converted to a regular
individual account.
VI.
Timeline
Description of Work
discussed
Finding and inviting credible speakers for the classes
Canvassing of materials needed
March 2017
VII.
Budget
Description of Work
Projected Budget
23 950
5 000
Food
20 000
Advertising materials
25 000
Description of Work
Simulation
Projected Budget
80 000
Prizes
50 000
130 000
VIII.
63 950
193 950
Key Personnel
Client
Project Manager
Maryclaire Cribe
Team
IX.
Evaluation
Success metrics are the following:
Target number of people who will join the simulation competition is 200
For every talk, an evaluation form will be distributed to the attendees. The form will be
used to rate the relevance of the topic, speaker, venue, time and program. Attendees will also be
asked for suggestions and comments.
X.
Endorsements
The following support FinEd:
Department of Finance
Furthermore, the Philippine Stock Exchange (PSE) has already approved partnership for
the simulation contest. They have agreed to use their data, platform, and website for a beta
version exclusive for the contest. In exchange, they have requested for a time slot in the contest
frame. The time will be used to tour the PSE building and promote fields vital for the company.
10
XI.
Next Steps
Upon approval of this proposal, we ask the UP Administration to endorse this project to
the Student Council to effectively communicate to the students, the immediate beneficiaries, all
relevant information. Through their cooperation, we expect more students to avail of this project.
We ask the Virata School of Business for the reservation of its room for the dates
indicated in the provided timeline. In line with this, we would like to request incentives from the
UP Administration regarding the dues for reservation as we believe this project would greatly
benefit the students, a large part of the UP Community.
Lastly, we ask the Philippine Stock Exchange to provide us with the beta version of their
platform for the contest. Troubleshooting and trial runs will be conducted to prepare for the
simulation. Assessments and revisions will be made to cater the rules of the simulation.
XII.
Appendices
Appendix A - Speakers
Mr. Roel Refran, COO Philippine Stock Exchange
Mr. Edmund Lee, President of Caylum Trading Institutes
Mr. Jonathan Yabut, Winner of Apprentice
Ms. Maria Francesca Tan, CEO and Founder of MFT Group
Mr, Kenneth Abante, Office of the Secretary of Department of Finance
Ms. Maria Rochelle Diaz, CFO of Strategic Landbank Management
11
OUTFLOW
Description of Work
Amount
23 950
Financial Literacy
Classes
Token
5 000
Food
20 000
Advertising Materials
15 000
63 950
Description of Work
Amount
80 000
Prizes
- Top 1: 30 000
- Top 2-5: 5 000
50 000
Total
130 000
Php 63 950
Simulation
12
INFLOW
Description
Amount
Registration fee (assuming 30 individuals (Php 150), 40 pairs (Php 250), 30 groups of three
(Php 300))
23 500
Investments (minimum investment for students is Php 2500; target opened accounts is 90)
225 000
262 067.60
33 976.12
TOTAL INFLOW
544 543.72
Profit
Appendix C - Bibliography
Bacani, L. (2015, September 2). PNoy signs law promoting financial literacy, entrepreneurship
among students. Retrieved from
http://www.philstar.com/business/2015/09/02/1495121/pnoy-signs-law-promotingfinancial-literacy-entrepreneurship-among
13
Caraballo, M.U. (2015, December 2). Only 25% of Filipinos financially literate -- S&P.
Retrieved from http://www.manilatimes.net/only-25-of-filipinos-financially-literatesp/232428/
Mendez, C. (2015, November 12). Poor financial literacy hampers Philippine growth. Retrieved
from http://www.philstar.com/education-and-home/2015/11/12/1520915/poor-financialliteracy-hampers-philippine-growth
Palomar, M.I. (2016, May 2). Inclusion of financial literacy in school curriculum pushed.
Retrieved from http://www.congress.gov.ph/press/details.php?pressid=9508
14