Aravind Sithamparapillai, an associate at Ironwood Wealth Management in Fonthill, Ont., worked as a bank teller before getting his MBA and eventually moving into wealth management.. Get exclusive investment industry news and insights, the week’s top headlines, and what you and your clients need to know. For more from Globe Advisor, visit our
In the Behind the Advice series, Globe Advisor asks advisors about their relationship with money from a young age, lessons learned over the years, and how their experiences influence the advice they give clients. Aravind Sithamparapillai, an associate at Ironwood Wealth Management in Fonthill, Ont., talks about using credit cards as a kid, his fear of failure and his foray into wealth management.Growing up, my dad would make me and my brothers read the newspaper and pick one article a week to talk about. Most of the time I would pick something in the entertainment section about movies or music, but one day I saw an article in the life section about students getting their first credit card.
Then, when I was 18, just before I was about to head off to university, my bank offered me a student credit card. When my dad asked about it, I reminded him about that newspaper story and said I didn’t want the temptation of a credit card. But my dad had a different take. He told me that having a credit card isn’t a bad idea if you pay the balance every month. He explained the benefits of building a good credit history.I did, mostly.