Cape Argus E-dition

Why a financial adviser is worth it

I’ve been wanting to get a financial adviser, but I’m afraid of wasting more money on something that doesn’t get me out of trouble. What should I do?

Name withheld

Richus Nel, a financial adviser at PSG, responds: There is a common hesitation when it comes to appointing a financial adviser when you’re already short on finances. Modern society is, however, convinced in most disciplines that knowledge, technique, applying proven principles and having a plan result in superior outcomes

Sports coaching is very similar to financial advice – as we all have behavioural routines (driven by our emotions) that might cause financial imperfections. These can quickly unravel our investment plans and expose us to unnecessary financial risks. Most of us need assistance in identifying our financial blindspots and, second, in being equipped/trained to break these routines in order to become better at managing our finances.

Clients who are assisted by financial advisers in a “coachlike” manner are empowered and better prepared through mentoring to improve the areas that have proven superior outcomes. In this sort of coaching dynamic, it’s highly beneficial for both individuals to be honest, admit failures/ mistakes and celebrate the victories along the way. Victory shows evidence of progress and inspires clients to greater financial heights.

We cannot always remain objective when it comes to our own finances. Having a financial adviser who can prepare you to overcome financial challenges is worth every cent. In time,

advisers assist their clients to understand their individual financial journey, set realistic goals and avoid financial mistakes. Repetition of proven principles and continued refinement soon results in maintaining a positive bank and work-life balance.

PERSONAL FINANCE

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2021-07-31T07:00:00.0000000Z

2021-07-31T07:00:00.0000000Z

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