How I opened my COL Starter account
Few days ago, I happened to read the free ebook of Bo Sanchez about how his maids became a millionaire. It caught my interest since I’ve been wanting to have my own investment and to learn stock market at the same time.
I decided to check some of Stock Brokers who I can transact with in the Philippines. Based on the research I did, most of the beginners in stock market prefer the COL Financial who first introduced the peso-cost averaging thru their Easy Investment Program.
I learned that COL Financial has COL Starter type of account that requires 5K monthly which will be used to buy shares of a company. To open an account I have to fill out CAIF, FACTA and OSTA forms. A photocopy of a valid government issued photo ID is also required. More about these forms and other requirements are on their website.
I downloaded the forms from COL Financial website, answered them and assembled together with other requirements. Earlier today, May 5, I went to PhilPost Office in NAIA road to send the envelop that contains the requirementa. It was my first time to send snail mail since most of the transactions I make is either via email or phone.
I handed the envelop to the clerk and she weighed it. She then told me 2 options, either to send it registered or ordinary. The difference is that the registered has reference number which can be used to track where it is. Based on the weight of my letter, the price if I choose registered is 35 while 17 if ordinary. I selected the former.
The clerk said that Taguig post office will receive my mail on Monday and will take the next step from there.
I have to wait next week until the COL Financial finally receives my letter. According to their website, I will be contacted by a Sales agent to schedule videoconferencing. I guess I will just have to wait and see what will happen next week.
I know I have to start from somewhere to finally learn even just the fundamentals of stock market. I hope that thru this COL Starter account I would gain more knowledge about it, and make my money earn profit eventually.
