Author: Hamilton van Breda
Date Published: 28 November 2012
South Africans’ reluctance to pay for professional financial advice has a price.
Many investors approach financial service providers directly because they believe they can get a better deal by cutting out the ‘middle man’, the financial adviser. Getting appropriate financial advice is however essential to your financial wellbeing – it mobilises you to take action when needed and helps you manage risks. Why are so many investors hesitant to get professional advice? This disconnect can largely be attributed to a focus on the costliness of financial advice, instead of the actual value of the advice.
Financial advice plays a key role in retirement planning, which is very relevant to South Africa
One of the most critical benefits of sound advice is preparing for a comfortable retirement. South Africans generally save far too little to generate adequate retirement income. This unfortunate situation is fuelled by the knowledge ………