FINANCIAL CONSULTANCY IN THE DIGITAL AGE: A PHENOMENOLOGICAL EXPLORATION OF THE LIVED EXPERIENCES OF LICENSED FINANCIAL CONSULTANTS IN QUEZON CITY, PHILIPPINES
Keywords:
financial consultancy, digital transformation, technology acceptance, sensemaking, data privacy, phenomenology, PhilippinesAbstract
This study examined the lived experiences of licensed financial consultants navigating the digital transformation of the financial consultancy sector in Quezon City, Philippines. Using a hermeneutic phenomenological design, the researcher conducted semi-structured interviews, participant observation, and field notes with seven purposively and snowball-sampled financial consultants who met defined licensure and tenure criteria. Data were analyzed following Colaizzi's seven-step method alongside Van Manen's lifeworld existentials, yielding forty-six codes, nine themes, and eighteen categories organized around three research questions. Findings show that consultants adapted to the digital era by integrating technology into client engagement while preserving the relational and advisory core of their profession; that they actively managed ethical and regulatory concerns around data privacy and information security, undergoing continuous compliance training; and that they viewed personal transformation, market opportunity, and sustained technology adoption as the path forward for the profession. The study is anchored in sensemaking theory and the Technology Acceptance Model, both of which were reflected in how consultants interpreted and adapted to digital change. It underscores the continued centrality of trust, ethical conduct, and regulatory compliance even as the profession digitizes, and it points to compensation structures and financial-literacy promotion as priorities for future research and industry practice.
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