People often wonder what the purpose of using a financial advisor is. A financial advisor is often linked or regarded as an insurance salesman or someone who’s e-mails or phone calls you must always ignore. This is a truly sad outcome as a Financial Advisor should rather be looked upon as a mentor and friend, who’s only objective is to ensure your financial freedom is most efficiently and economically achieved.
Your financial advisor should be someone that you can relate to, generally someone of equal age, someone who has gone through similar things in life and has a similar road ahead of them. Be sure to make use of a completely independent financial advisor who presents no bias towards any product provider. A financial advisor that is too focused on earning up-front commission is someone to stay away from.
Where can one find such Financial Advisors?
A good place to start is by avoiding the tied-in or institutionalised advisors. These advisors’ are often found caught with a noose around their necks for not reaching certain sales targets etc. They are given very little education or introduction to more client centric products as such products offer low up-front commissions.
Fee-based financial advisors provide more positive prospects as they only charge for on-going service and are often more establish and equipped to not force products on their clients.
What should I expect from my meeting with my Financial Advisor?
Expect 3 things:
The 1st meeting should leave you with a sense of ease and comfort. All credentials and experience of your financial advisor should at this stage be communicated with you. A good relationship must have formed already.
The 2nd meeting is often associated with the presentation of solutions and products. The financial advisor should clearly explain all the consequences, tie-ins and fees associated with the product. ALL products have pro and cons when compared to that of their competitors. Ensure these are completely explained.
If business is concluded and the advisor walks out the door. Expect a reasonable level of service and communication and expect him/her to regularly provide feedback on the progress of your application or investment. Ensure that when you communicate a query to your financial advisor that he responds to you timeously and comprehensively.
If you’re looking for a great financial advisor with experience and professionalism.
Be sure to contact Pioneer today.
Pioneer
Financial Planning is a Licensed
Financial Services Provider www.fsb.co.za
You’ve
seen him on TV, you’ve heard
him on radio and you may even have
read his newspaper articles...
Bryan is a financial commentator and
writes regular articles for various
Financial Publications, as well as
a
weekly column for Business Day and
The Sowetan.
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