Caty Naude Why do I need a financial Advisor 18Nov2023

Why do I need a financial advisor?

By Caty Naudé (CFP®)


Why do I need a financial advisor? -  I manage my own financial planning

“Retirement funds do not work. I have contributed towards a pension fund my whole life and I am not able to retire comfortably.” As a financial advisor I have heard this comment often. This is a retirement planning problem that could have been avoided if expert guidance from a Certified Financial Planner was obtained much earlier in life. Often this happens when funds are invested too cautiously (insufficient exposure to growth assets), or simply contributions towards the retirement funds were inadequate when considering the client’s retirement objectives.

Fund choices, investment strategies, contribution amounts, effective tax structuring, different investment types, different investment and insurance companies, provision for a risk event like death, disability, or dread disease. These are just some of the elements to consider and balance when constructing a financial plan tailored to your specific goals and objectives.

Although there is ample information available when considering all these considerations, the art is to know how to effectively structure your financial plan before and after retirement.


Why is an optimally structured financial plan necessary?

  1. Have a tax efficient plan in place. Pay to SARS what is due, but nothing more!

  2. Ensure that you contribute to the correct part of your financial plan as this changes throughout your life. When you are young you may not have the budget to address all risk cover and retirement – here an adviser will guide you to establish what needs to be prioritized. As you grow older and your debt reduces and the need for risk cover may reduce, etc.

  3. Make your money work for you. If you are contributing towards risk and retirement products, make sure that the correct products are used, rather than finding out that it could have been better when it is already too late.

There is enough information available for you to build your own financial planning portfolio but acquiring the services of a trained and experienced CFP® professional may be the best investment you ever make for your retirement.


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