{"id":183468,"date":"2021-03-16T01:26:37","date_gmt":"2021-03-15T23:26:37","guid":{"rendered":"https:\/\/mypr.co.za\/?p=100161"},"modified":"2021-03-16T01:26:37","modified_gmt":"2021-03-15T23:26:37","slug":"questions-youre-too-embarrassed-to-ask-your-financial-adviser","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/questions-youre-too-embarrassed-to-ask-your-financial-adviser\/","title":{"rendered":"Questions you\u2019re too embarrassed to ask your Financial Adviser"},"content":{"rendered":"
<\/a>
Paula Walker (CA)SA, a Director and Advisory Partner at Consolidated Wealth<\/figcaption><\/figure>\n

Five questions that you\u2019ve always wanted to ask about your finances<\/p>\n

Do you have burning questions that you would like to ask your Financial Adviser but you\u2019ve always been too embarrassed to ask?<\/p>\n

Paula Walker (CA)SA, a Director and Advisory Partner at Consolidated Wealth, says that financial planning can be very complicated but your Financial Adviser is there to help you to navigate any uncertainty you may have.<\/p>\n

\u201cCertified Financial Advisers study for years to become experts in the field but ultimately, this is a people-oriented profession,\u201d she says. \u201cOne of our greatest responsibilities is to make our clients feel comfortable and this includes educating them to ensure they receive the best advise that\u2019s tailored to their unique circumstances. So there is no need to feel embarrassed about asking what you may believe are obvious questions.\u201d<\/p>\n

If you are one of those people who have nodded along while your friends talked about their financial planning only to secretly search the conversation afterwards, here are Paula\u2019s answers to what may be some of your embarrassing questions.<\/p>\n

1. If I am in debt will a Financial Adviser be able to help me?<\/p>\n

In the world of finances, managing debt is a specialised field and if you are in a fix, your best option is to speak to a qualified debt counsellor. Their job is to help you get out of debt and they will negotiate on your behalf with your credit providers. Once your finances are under control and you have cash reserves, then you should partner with a Financial Adviser who will help you achieve your financial goals such as saving for your retirement, buying a home or putting your children through university.<\/p>\n

2. How do Financial Advisers get paid?<\/p>\n

This is actually an important question that you shouldn\u2019t feel embarrassed about asking. There are a number of ways that Financial Advisers get paid. Advisers are remunerated by either commission, fees or a combination of the two. Traditionally most Financial Advisers received commissions from the company whose product they were selling but recently, more Advisers are opting for fee-only financial planning. This has distinct advantages as the Adviser can remain totally objective. There are however some advantages to the commission route \u2013 you can view the Financial Adviser\u2019s quality and level of financial planning before incurring any costs. Whatever route you choose, make sure you have clarity on the exact method of remuneration before proceeding.<\/p>\n

3. What is compound interest and how does it work?<\/p>\n

Compound interest is when you earn interest on your interest. Let\u2019s say you invest R10 000 at a realistic rate of 6% per year. In one year, your money will grow to R10 600. If it\u2019s in an interest-bearing account, in the following 12 months, you\u2019ll begin to earn interest on your original investment as well as the interest it has accumulated. So depending on the outcome required for your investment, the longer it remains invested, the better!<\/p>\n

4. Is there a minimum amount I need to invest?<\/p>\n

This is one of the most common questions asked by people who want to start investing. The answer is that the amount that you invest as well as the outcome required by the investment will determine the type of product that will be best for you.<\/p>\n

5. Do I need a Financial Adviser?<\/p>\n

Managing your money and making the right financial decisions takes time, skill and effort. Working with a qualified Financial Adviser will ensure that you have a long-term plan for your money, that you are making decisions that are tailored to your circumstances. A Financial Adviser will help you to make and save money in the long run by keeping you on track and proactively identifying any financial risks and opportunities.<\/p>\n

Paula concludes by saying that you should never feel embarrassed about asking even the most basic questions: \u201cYour relationship with your Financial Adviser is a long-term partnership that is based on trust and it\u2019s our job to make you feel comfortable that your money is in the best hands.\u201d<\/p>\n

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Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Paula Walker (CA)SA, a Director and Advisory Partner at Consolidated Wealth Five questions that you\u2019ve always wanted to ask about your finances Do you have burning questions that you would like to ask your Financial Adviser but you\u2019ve always been too embarrassed to ask? Paula Walker (CA)SA, a Director and Advisory Partner at Consolidated Wealth, […]<\/p>\n","protected":false},"author":1,"featured_media":183469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9021,1],"tags":[3257],"class_list":{"0":"post-183468","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mypr","8":"category-south-africa","9":"tag-mypr","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2021\/03\/questions-youre-too-embarrassed-to-ask-your-financial-adviser.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/183468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=183468"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/183468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/183469"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=183468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=183468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=183468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}