Why a Financial Adviser is crucial to your financial well-being
with Tina van den Heever, Liberty Financial Adviser
Mapping out your finances to find the most successful ways of spending, saving, and investing, can be challenging. Tina van den Heever, registered Financial Adviser at Liberty, shines some light onto what a financial adviser is, and why you need one.
WHAT IS A FINANCIAL ADVISER?
“This is a topic that I am passionate about. A Financial Adviser is a professional that uses their knowledge, experience, and expertise to create and personalize financial plans that aim to achieve the financial goals of clients. I also see myself as an educator and life coach.”
WHY SHOULD I TRUST A FINANCIAL ADVISER WITH MY FINANCIAL FUTURE?
“Trust is earned. The financial services industry is one of the most heavily regulated industries in South Africa – and rightly so! A Financial Adviser needs to be registered at The Financial Sector Conduct Authority, formerly known as the Financial Services Board. I would recommend that if you are looking for a Financial Adviser, you do due diligence to ensure that they are licenced and registered, with a good track record.
They should also share your values and for this reason I always treat my clients with honesty and integrity, because I truly want to see them succeed in creating their wealth and reaching their financial goals, so that they can become stewards of their own wealth.”
HOW CAN I ESTABLISH A TRUSTING RELATIONSHIP WITH A FINANCIAL ADVISER?
“One of the most important building blocks to the Advisor-Client relationship is complete honesty and transparency, without judgement. I listen to my clients (this is so important) so that I may understand their unique needs and goals. There is no ‘one-size-fits-all’.
The complicated jargon is completely unnecessary. I ensure that my clients understand what I am saying, and I maintain consistent communication with them. Personal input is important so that I can respond promptly to their needs. I believe that you must let your personal values lead the way and for his reason I show them that I am in it with them for the long haul.”
WHY IS A FINANCIAL ADVISER CRUCIAL IN MY FINANCIAL PLANNING?
“One of the greatest benefits of partnering with a financial advisor is the teamwork. This saves you time and money! Having a trusted and well-informed partner to help you navigate the legal, financial, and administrative complexities of the industry, is comforting. People also think that you must have a lot of money before you can speak to a Financial Adviser. This is not the case. I believe the sooner you start with a solid financial plan, the sooner you will reach your financial goals, and ultimately, financial freedom.
When I think of couples planning to get married, my advice would be to speak to your partner about money before the wedding. Money can be a touchy subject, and no one wants to feel judged on their spending habits, but couples need to better understand their partner’s relationship with money before jumping into joint financial commitments. Set up Money Dates, where open and frank discussions can take place.”
WHAT IS A ‘FINANCIAL NEEDS ANALYSIS’ AND WHY DO I NEED ONE?
“A Financial Needs Analysis, in short, means to properly analyse your current financial position, your financial needs and wants, and how you can plan to achieve your financial goals. In other words, to have a holistic view of your financial position – present and future. Then I will have a look at your assets (houses, vehicles, investments, savings, and pension fund), your liabilities (all your debt and home loans), and most importantly, your budget and needs.
The most important reason for completing the Financial Needs Analysis is so that I can plan, according to your income, the means to replace your income in the case of death, disability, or critical illness. Do you have life cover to pay off your debt and estate duty taxes when you are not able to take care of yourself and your family? How much money will you need when you reach retirement, and are you using your tax perks on your retirement contributions? Are you ready to prepare and plan towards your retirement? Money for holidays, holiday homes, and children are also important topics to discuss. These are all the details I will need to know to help you plan your financial profile accordingly. Last, but not least, we will have to set up your Last Will and Testament.”
Armed with this valuable information, you can now make an informed decision and trust a Liberty Financial Adviser with your financial well-being. Call a trusted Liberty Financial Adviser today for your Financial Needs Analysis.
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