Finding a Financial Advisor

Hi all,

If you are trying to find a good financial planner then check out Objective Money (www.objectivemoney.co.za). They have a large database of verified financial planners and you can see what their customers think of them through the user reviews.
 
My first one I didn't exactly choose as they simply did a marketing exercise at my company.

I did a very small investment to see how he treats people who he thinks are poor, just to see if he pops out a year later to review.

To my surprise he did and I used him for about five years.

Then he just got less and less communicative and then suddenly I got a notice that he had buggered off and someone else took over. Presumably he was fired.

The guy that was forced on me was absolutely atrocious so I moaned to my friends and then got a word of mouth recommendation.

Been very happy since.
 
I see value in maybe paying an adviser once-off to get advice, but this whole commission thing is just a horrible scam, Liberty producing some of the biggest product-pushers around.

With a little research you can find the products and funds that will work for you.
 
Your best advice is to stay as far away from "financial advisors" as possible for investment advice. Stay far, far, far away. They do have some place for insurance products and limited tax advice, but definitely not for investment advice.

Rather just go the ETF route then.
 
The best financial adviser you can have is yourself and a lot if time spent researching. It is your money after all. If you must see a FA, make sure it's someone who earns by the hour, and doesn't earn commission. Regardless of what the hourly rate is, it'll save you an absolute fortune in the long run.
 
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Best way to find a FA is recommendation...
At the end of the day most people work through a couple of Financial Advisors before they find one that they are comfortable with. Remember the job of an FA is to walk a path with you through life. Eventually you build a friendship. If you current FA is not staying in touch with you or sitting down with reviews every 6 months then they do not care about you as a client, they only care about their own back pocket.
If you need any further advice please contact me as I'm a Financial Advisor with Liberty Life.
 
There is a new Law being set in place to differentiate the scam-advisors working only for their own pocket apart from those who actually do what is right for the client. They are busy putting 'RDR' into place. Basically Advisors will only run on As-and-when commission and most upfront commission will fall away especially on Retirement and Investment products as this is where most Advisors make a quick buck. Please read up about RDR and make sure to ask you Advisor if you have one. Those who are planning on being in this for the long run are starting to build their AAW now already so that we can survive when RDR kicks in.
 
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