FPI 2012 Financial Planner of the Year, Jan-Carel Botha is a Certified Financial Planner (CFP) professional and a member of the Financial Planning Institute (FPI).
He holds a BCom in Economics from Unisa and a Postgraduate Diploma in Financial Planning from the University of the Free State.
Why is it important to have a financial planner?
A professional financial planner can guide you to avoid the most costly investment and financial planning mistakes.
What services do financial planners provide?
Services can be vast and diverse but generally includes estate, tax, investment, retirement, cash flow and budgeting, insurance and medical aid planning.
How can you ensure that your financial planner is appropriately qualified?
All financial planners must be registered and approved by the Financial Services Board (FSB) and professional planners would have membership to the Financial Planning Institute (FPI), the professional body for financial planners.
Financial planners often double up as brokers for financial service providers. Are there independent financial planners and do they charge consultation fees?
Professional financial planners should not only act as brokers for products but should be very capable of charging a fee for independent advice. The product should be incidental and not the driver for the advice.
Can you get a second opinion on the advice given by a financial planner? How would you go about it?
Absolutely. A professional planner should present advice in writing and getting a second opinion is often advisable. I would however not recommend that you simply present the report of one planner to another as the latter might use this as a tool to discredit the advice of the first planner, who would not be there to defend him/herself. Ask the same questions to both without disclosing the other’s advice.