Finding a financial advisor

IDEAL CFP TRAITS: TWO ADVISORS JOINTLY RESPOND TO A WORRIED READER'S QUESTION

- Elke Brink & Nelis Brink

The question: I need to find an advisor who has my best interests in mind and not simply a sales representative for a large institution pushing financial products that benefit themselves more than me.

My goal is to work with someone who can justify their advisory fees by providing value that exceeds the cost of the fees.

The advisor should be dedicated to helping me make sound financial decisions, with the advisory fees being less than the financial benefit gained by following their advice.

How do I find this advisor?

The answer

Choosing a financial advisor is one of the most critical steps in achieving financial security and optimising wealth.

The right advisor should act in your best interests and deliver measurable value by employing sophisticated, tax-efficient strategies.

Here's what to consider when searching for an advisor – and how professional advice can help you gain a financial edge.

1. Choose an independent advisor with CFP (certified financial planner) qualifications

When selecting an advisor, independence and credentials are critical indicators of professionalism and client-centric advice:

> Independence matters: Independent advisors are not tied to specific financial institutions or products. This ensures that the advice you receive is free from conflicts of interest and based solely on your financial goals.

Avoid advisors incentivised to sell specific financial products, as their recommendations may not align with your best interests.

> CFP certification: A certified financial planner designation is gold in financial advice.