A new referral network targets the AAPI financial advisor trust gap

Jason Co, a CFP and founder of CoPlanning Financial, launched the Fiduciary Asian Advisor Network, or FAANetwork, during Asian American and Pacific Islander Heritage Month. Asian Americans have historically underutilized professional wealth management relative to income and asset growth. Co points to both consumer awareness gaps and a shortage of trusted advisors who understand diaspora contexts.

The network aims to refer consumers to vetted CFP professionals and raise demand for fiduciary advice within Asian American communities. FAANetwork maintains a public directory at faanetwork.com where consumers can search for advisors. The op-ed is promotional for the network while naming systemic issues. It is not independent investigative reporting on advisor performance.

Many diaspora professionals are the first person in the family to consider hiring a CFP. Parents may hear scam before they hear fiduciary because someone sold a relative an expensive policy at church. A referral network built for Asian American contexts acknowledges that trust is communal. You may need an advisor your aunt would tolerate on a video call, not just one your app recommends.

Co describes skepticism toward financial services among some immigrant families, including experiences with multilevel marketing sales channels that recruit within Asian American social networks. MLM insurance sales within immigrant churches and WeChat groups are a real caution tale. Education means teaching elders what fiduciary means in plain language, not mocking them for trusting a friend.

Families that concentrate net worth in real estate and feel cash-poor in retirement appear often in Co's framing. Real estate-heavy balance sheets are not failures. They are often the asset parents understood. The generational question is whether illiquid pride becomes a retirement trap for everyone.

Children of immigrants supporting parents who underfunded retirement because markets felt like gambling are a recurring client story. Adult children funding parent gaps while trying to max their own 401(k) will recognize that sandwich quickly. Skepticism toward markets can be respectful. Your job may be translating index fund basics, not winning a debate about gambling versus virtue.

If parents tie net worth to a rental unit with a clogged toilet nightmare, liquidity planning is emotional. An advisor who dismisses that fear will not keep the family at the table. Fiduciary standards matter, but credentials alone do not guarantee fit. Consumers still need to interview advisors about fees, conflicts, and experience with cross-border households.

FAANetwork is one directory, not the only path. Fee-only planners, employer benefits counselors, and CPAs still matter. The network adds optionality, not a monopoly on good advice. Interview advisors the way you would interview a pediatrician for your parents. Ask about immigrant clients, cross-border accounts, and how they explain risk to skeptical elders.

Co argues demand and supply must grow together: more educated consumers and more advisors willing to serve Asian American households profitably and respectfully. Launching during heritage month is marketing timing. The underlying need persists year-round: qualified help that does not treat Asian American households as monolithic.

Use the directory as a shortlist starter, not a blind hire. Two interviews beat whichever name ranks first. Generational wealth work includes upgrading who the family trusts for advice, not just how much they save.

Before you hire anyone, walk through How to Vet a Financial Advisor When Your Family Skeptical of Sales Pitches. Pair that with Taxable Investing Basics for First-Gen Professionals and First-Gen Retirement Planning Basics so the family conversation starts with vocabulary, not product pitches.