Wealth Wisdom Series: The importance of having a financial adviser

Why is it so important to keep a healthy grip on your money matters and plan for your financial future?

There is a deep connection between the state of your finances and your quality of life. Money is represented in our lives in the form of status, power, opportunity but also the lack thereof. This creates an environment of worry as we often question if we will be able to maintain our lifestyle in the next year, in ten years’ time and for many years to come. If the unexpected happens, such as a death in the family, will we be able to cope financially? Building wealth is about the journey to craft the lifestyle you want now and in future.

The Wealth Wisdom series will help you to reduce the time you spend worrying and replace it with peace of mind. The principles that we will share with you in each video is a no-nonsense common-sense approach to managing your wealth and is easy to apply in your money life.

The value of a financial adviser

In this introductory episode, I discussed the importance of having a financial adviser. In your journey of life, you may have had a sports coach, a senior at work, or even your parents who has had a profound impact on your life, who have provided you with wisdom and guidance to achieve success. A financial adviser is your personal guide who walks with you in your journey of life. The destination is achieving your dreams and ambitions and leaving a legacy to your family.

The value of expert advice

Many financial dilemmas start with uniformed decisions. Life and money seem to have become more complex and there is a daunting array of financial products and investment options. By taking into account your personal circumstances, a financial adviser will provide you with expert advice which will help you to make informed decisions and this will result in better financial outcomes.

We go through different cycles in our lives and the only constant is change. When you are young and strong, the world is your oyster and the last thing on your mind is a budget and saving for your retirement. As life becomes more complex and you have people depending on you, you must partner with someone with wisdom and experience to navigate you through the transitions in your life.

Sometimes you need a fresh pair of eyes to give you perspective and an objective opinion. Someone on the outside looking in will always see something you don’t. A financial adviser will help you to remain focused on your financial goals and maintain composure in an ever-increasingly confusing world.

There are many distractions in life that will prevent you to implement a good idea. We have become time poor. You have demands from your company, your business and family. You need someone to keep you focused on and committed to your financial plan. This gives you more time to spend on what you value most – your family, business, hobbies – giving you the peace of mind knowing that your financial affairs are in order. 

In summary

A financial adviser will provide you with expert advice, objectivity and time which will enable you to make informed decisions. Your relationship with your financial adviser must be built on the foundation of trust and mutual respect. It therefore makes sense to partner with someone with wisdom and experience to guide you in your journey of financial freedom.

In our next Wealth Wisdom episode my colleague, Magdeleen, discussed why you need financial goals in your journey to financial freedom.