Choosing an Adviser

Your financial adviser or broker should be seen as your partner for life. This is why you need to choose one carefully. The financial adviser or broker needs to thoroughly understand your investment requirements as well as your current financial situation.

When dealing with an adviser you should insist on seeing their training credentials, FAIS accreditation, the products, solutions and services that they are able to provide and, if they are independent, a list of company contracts.

There are a number of things to take into account when choosing your financial adviser:

Qualifications

All financial advisers and intermediaries are required to be “fit and proper” in terms of the requirements of the Financial Advisory and Intermediary Services Act (FAIS). Ask to see their qualifications.

Trust and Integrity

Referrals from people you know and trust are a good way of selecting a financial adviser. Another option is to choose a financial adviser that represents a respected financial institution.

Support

Look for a financial adviser that has access to a range of specialist support services that you might need, for example, tax planning.

Advice, Analysis and Products

The role of a financial adviser is to assist you to analyse your personal circumstances, recommend products and compile a financial plan to help achieve your goals. Product recommendations should be as a consequence of such a personal analysis. Your financial adviser should reassess your financial plan on a regular basis.

Objectivity

Each person has a unique set of financial needs, and what is right for one person is not necessarily right for another. A financial adviser should provide guidance and support based on your personal circumstances.

Commitment and Passion

Financial advisers are passionate about empowering their clients to achieve their goals.

The Comfort Factor

Your financial adviser should be able to identify with your personal circumstances and priorities. Otherwise it will be very difficult for them to help you identify and realise your financial goals.

 

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