“A broker is someone who invests your money until it’s all gone.” – Woody Allen
Does your broker operate on a commission basis, receiving incentives from insurance and investment companies for each policy they sell, or do they charge their clients a flat fee for the advice they give? If you’re wondering what the difference is between these two approaches, and how they affect you as a client, here is an explanation that may surprise you. Continue reading
As a finance professional with several decades of experience in the industry, I have always been a believer in continued education.
Qualifying with a commerce degree or similar qualification is an excellent basis for a career in the financial sector, but this is only the beginning of the learning process that every financial advisor should take part in – you are never too old to learn, and there is always new information out there that can assist you to serve your clients more effectively. Continue reading
Is it really important to have a financial advisor?
This question is often asked by people, especially those who have had negative experiences with brokers who were less-than-honest in their dealings with clients. A good financial advisor should not be driven by commissions and incentives from investment firms – the most important focus of a financial advisor’s work should be ensuring the client’s financial success in good times and bad. Continue reading
A surprising number of people will spend hours planning their savings and investments – to provide security for themselves and their families later in life – without taking the time to draft a last will and testament. There is no doubt that dying without a will in South Africa is the one sure way to put your family’s financial security at risk, but many of us still play Russian roulette with our family finances despite the risks involved – here are four reasons why every person should have a will. Continue reading
Taxation is a topic that many people don’t like to dwell on, and for good reason – it’s never pleasant to talk about losing money. Although taxes are a part of everyday life, it’s easy to forget the impact of taxation on our net worth. Whether you are working hard to build your investment portfolio or are just a few years away from retirement, taxation will impact your finances directly. Continue reading
Financial advisors are professionals who are trusted by their clients to give them the best advice and guidance when it comes to money and investing. This makes it essential for all financial advisors to be ethical, responsible, and properly qualified to perform their duties.
To be an effective financial planner, at least two qualifications are needed – the Certified Financial Planner™ and General Tax Practitioner qualifications. Apart from this essential education, a degree in commerce is extremely beneficial for financial advisors. Continue reading
Regular meetings with your financial advisor are essential to keep your wealth creation on track, but how often should these meetings take place?
Depending on your income, your career, and how close you are to retirement, you may need to see your financial planner more often. Important events in your financial life may also make it necessary to schedule a financial planning session at short notice – here are some meetings you should schedule with your financial advisor: Continue reading