The Importance of a Financial Advisor: it’s more than the money

If there is one thing more deeply entwined in every area of life than anything else – it’s money.

Everything you do – from education to career to lifestyle – is about how you are going to earn it, save it, invest and benefit from it. Looking after it is paramount, but not that easy to do on your own. The benefits of engaging a professional advisor should far outweigh any fees you may be charged. The purpose is to increase your net value and secure your future. And perhaps there isn’t a price on that?

When seeking financial advice, you need to know you are talking to someone who is not only qualified and thoroughly experienced, but also trustworthy, dependable, courteous, empathic, and genuinely concerned about what is best for you. Because it’s not only about making money – it’s about your life, dreams, family and future. Good financial decision-making is the key to enhancing standards of living, peace of mind and lifetime security.

The numerous benefits of having sound professional financial advice:

• A well considered plan and strategy will provide an overall picture of your financial situation – and allow you to seize opportunities to monitor, review, and make the necessary changes to complement changes in your life circumstance.
• A financial advisor will give you not only the best of his or her mind, but also integrity, empathy and heart. A planner may often act as financial counsellor, coach and mentor to help motivate clients to live their lives and dreams to the fullest.
• An advisor is an important defense mechanism preventing you from deviating from your plan to your detriment. He or she is armed with the right tools and systems to help protect you from you, such as: cancelling investments or policies at the wrong time or for the wrong reasons. Advisors keep you focused on goals rather than the sensationalism of the media and unsettling, but usually transitory, world events.
• An advisor has the expertise and knowledge to help you choose investments that are more aligned to your values and ethics. Good advice can help you enhance environmental and social justice while still keeping your returns viable. Making your money worthwhile is a very popular choice among the younger investors.
• Your financial plan, developed by a professional CFP (Certified Financial Planner) will not forget the spectrum of life stages you need to plan for, such as: saving, budgeting, educational funding, tax management, insurance needs and the ever-vital retirement planning.
• A good planner will understand your goals, objectives and current resources. Through a considerate approach, trust and genuine friendship, financial confidence and security can be enhanced.
• You need to ensure that you engage a professional planner who fully understands the complexities of a changing financial climate and who will always seek to make recommendations in your best interests.
• A key benefit of sound financial advice is that you can avoid costly mistakes – mistakes that can destroy the health of your portfolio. While do-it-yourself may save you fees – you could lose far more through lack of an educated eye and misjudgement.
• A professional advisor will look for gaps in your financial strategy and highlight the costly dangers of not having: a long-term investment strategy; adequate insurance protection; a monitor on paying unnecessary fees and taxes; an up-to-date will.
• A good advisor should always be ready to take the time to explain how inflation, your savings rate, investment returns, and taxes will affect your financial plan.
• A financial advisor must utilise knowledge and experience to provide you with advice that is actionable, relevant, goal-driven, saves you time and makes you money in the long-term.

A summary of choices

Your quality of life will depend on your choices throughout your life. Lock the present and the future in one vision, one continuum by choosing the right life support so to speak, right from the beginning – a financial advisor who will:

• Work with you to identify and set realistic goals and objectives
• Examine the full spectrum of your assets, liabilities, income, insurance, taxes, investments and estate plan
• Develop a comprehensive plan to meet your financial goals, while helping you understand the risks
• Implement your plan and monitor the plan to help you stay on track
• Make the necessary adjustments to your portfolio and investments when necessary.

Adding quality to every stage of your life

Foster Private Clients, backed by the proud 28-year history of the Foster Group, believes in working for only the best results in all areas, from investments through to retirement planning, and including insurance matters. Creating a personal partnership with each client – and mindful of every individual’s plans, dreams and goals – we are there to guide and advise you on each milestone of your financial journey, not only during your working years but well into retirement.

For us it’s about more than just generating income and retaining capital in investments, it’s about the quality of your life each step of the way and your peace of mind. That’s why we focus on building sound relationships based on professionalism, experience, and friendship.
Find out more about us at: www.fosterprivateclients.co.za

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