Do you have a financial advisor?

Do you have a financial advisor?

  • Yes

    Votes: 58 32.8%

  • No, but I have family/friends that fulfil this role

    Votes: 4 2.3%

  • No

    Votes: 107 60.5%

  • Other

    Votes: 8 4.5%
  • Total voters
    177
12 years ago I contacted my "financial advisor" to show interest in a retirement fund. Said advisor coerced me into buying something which 10 years later it dawned on me that it was a life policy and not a retirement policy. So yeah FML. 10 years paying for nothing. Nobody but myself to blame.
 
Nope. Capable of losing my own money. No need to pay someone to do that for me /s
 
Yes, many years ago I hired a company to manage my business and personal advice. Paid off in spades.
 
Does anybody else also notice the following...

My obese/overweight friends are always ready with diet advice.
My brokest friends are always ready with financial advice.
My childless friends are always ready with parenting advice.
My dumbest friends are always ready with crypto investment advice.
 
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  • Haha
Reactions: 3WA
What counts under "other"?

Millenial TikTok/YouTube/Instagram finance "influencers"?

Oom Piet who rents a room on the smallholding outside town who's heard of this great investment called MTI?

Tannie Sannie who swears by Louis Liebenberg's pakkies?

Crypto bro's that keep on telling you that Bitcoin is the future?

Or do they fall under "Yes", if you heed their sage advice? Or are they under the "family/friends" tag?
 
Other - The call of adventure!
Ranger-Dice-stone-dragon-dnd-dice.jpg.optimal.jpg
 
Jojo Tank said:
12 years ago I contacted my "financial advisor" to show interest in a retirement fund. Said advisor coerced me into buying something which 10 years later it dawned on me that it was a life policy and not a retirement policy. So yeah FML. 10 years paying for nothing. Nobody but myself to blame.
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I think that guy deserves a beer, across the back of the head.
 
BBSA said:
Their advice is usually geared towards benefiting their commissions rather than your financial situation.
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Biggest problem with this industry is that there is no clear distinction between a financial advisor and a salesman.

I don't have an advisor currently, but I can see the benefit in having a sitdown with a genuine advisor once a year or so. Their payment should be for their time, with zero commission on any product they recommend.
 
I have access to them via bank, insurance brokerages, etc. - don't use them.
 
In this country they are out to make money and aren't really bothered with trying to help you if you don't earn a decent salary or if you are heavily in debt... Just my experience...
 
Speedster said:
Biggest problem with this industry is that there is no clear distinction between a financial advisor and a salesman.

I don't have an advisor currently, but I can see the benefit in having a sitdown with a genuine advisor once a year or so. Their payment should be for their time, with zero commission on any product they recommend.
Click to expand...
To be honest, the best advise is here on the forum. We also go further than financial advise and give relationship advise on top of that.
 
Been using a Financial Advisor to manage our investments, but also got them to assist with financial planning i.e. Life Cover, Education Fund, Retirement Planning and our Will (via a Third Party)

It's like any advice, every Tom, Dick and Harry knows something, so we rather opted to get all our financial advice from one single credible source, it's worked out well so far, as opposed to speaking to someone who says "I know a guy"..
 
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