Why should you talk to your financial adviser regularly?

As an independent and educated gauge, your financial adviser fulfils the important and often indispensable role of financial touchstone.” – Moneyweb

9 reasons to engage with your financial adviser:

Saving you time

Making time to manage your work, family, social and health is hard enough. Add onto that the complexities of financial planning, and you’ll be running around all day. Your financial adviser can give you quick answers and provide relevant solutions. Then you can focus on doing the things you want to do.

Saving you money

Independent Financial Advisers are not limited to a few Insurers / Investment Managers when they make their recommendations. They can advise on the best solutions available to ensure you get the most bang for your buck. Engaging with your financial planner regularly will avoid mistakes like not using your tax breaks or investing too conservative/aggressive.

Adapting to Life Changes

Financial events include:

  • Marriage
  • Property purchase
  • Change of employment
  • Birth of a child
  • Divorce
  • Retrenchment.

These events have a significant impact on your financial plan. Your financial adviser will advise you on the impact of these events. With the help of your adviser, you can make the necessary adjustments to ensure you stay on track to reach your financial goals.

Holding you accountable

A plan without action is just a dream. Taking action and having a plan will change your future. Your financial plan requires constant implementing. Life events will require adjustments. Engagement with your financial adviser will ensure you stick to your plan and reach your financial goals. Like your yearly check-up at the dentist or GP, you need to talk to your adviser to improve your financial wellness.

Controlling your emotions

Financial advisers provide financial education to their clients to enable them to make informed decisions. Your adviser will remind you of your long-term goals and educate you on reasons for volatility over the short term. This keeps you focused on your objectives and avoids rash emotional decision-making.

Making informed decisions

It is easier than ever to spread information. Unfortunately, this leads to an increase in misinformation. Trending topics tend to attract a lot of information in the short term and then quickly fade away. Financial advisers will help you to ignore fake news. They will research investment opportunities pointing out scams, dangers and risks involved. With this objective insights, you’ll be able to make informed decisions.

Understanding Legal Intricacies

Financial advisers are educated in a range of legislation, including:

  • Income Tax Act
  • Matrimonial Property Act
  • Divorce Act
  • Administration of Estates Act
  • Trust Property Control Act
  • Medical Schemes Act
  • Pension Funds Act

This knowledge enables advisers to assist with business contracts, deceased estates, succession, setting up and administering Trusts, withdrawing from pension funds, etc. Mistakes in these areas often have far-reaching and irreversible implications. Check-in with your adviser when you are dealing with these matters.

Reducing your tax burden

Your financial adviser will provide tax-efficient solutions to your financial needs. The ever-changing nature of tax legislation requires engagement with your financial adviser. This ensures that you have the optimal structure in place.

Making it personal

Automation has increased convenience at the expense of personalisation. Financial planning extends beyond financial products. Your financial adviser will consider all factors and provide solutions that are tailor-made to your needs. These needs change over time, making engagement with your financial adviser a top priority. 

 

The reasons above are based on the services we offer at TVC Wealth and Health Managers. We want to engage with you as your partner and mentor. In an age of Artificial Intelligence and Automation, we believe in the value of personal service and human interaction. Navigating through this complexed administrative, legal and financial environment, is a team effort. 

Let’s get to know each other!

Reach out and start your journey to financial wellness.

Phone: +27 21 914 7480
Cell: +27 82 893 2795
Email: info@tvc.co.za

For more relevant financial information, advice and tips, follow us on:

  LinkedIn

  Facebook

 

Related Articles