Here’s how a financial advisor can help you to become financially free

Heres how a financial advisor can help you to become financially free

– Chanelle Taylor (Director, Cornerstone Financial Planning)

Over the last few months, Cornerstone Financial Planning has focussed on the many ways you can empower yourself to improve your financial wellness and become more financially independent. The steps we mentioned are crucial to reaching your financial goals, but the truth is that it’s very hard to make the most out of those steps without expert help.

When you need medical advice, you visit your doctor or pharmacist. When your car is giving you trouble, you seek the help of a qualified mechanic. Therefore, when you need help to realise your financial dreams and become financially free, you need a qualified and experienced financial advisor to help you on your way.

What is financial freedom?

Financial freedom can mean different things to different people, depending on the stage of life they are in or their specific financial needs. For a retiree, financial freedom can mean having enough money to sustain a certain lifestyle for a few decades, but for a young professional financial freedom may mean having enough money to pay off a house or to afford a new car.

A general definition of financial freedom will be that you are earning enough to sustain the lifestyle you are comfortable with while being able to save enough for retirement.

What is a financial advisor?

A financial advisor is an individual who specialises in providing other individuals or businesses with financial advice. Advice can range between help with budgeting and expense management, estate planning, wills drafting, financial planning, life insurance, retirement planning etc. In a nutshell, a financial advisor is qualified to help you reach your financial goals, plan for financial emergencies and ensure that your loved ones are taken care of if you are no longer able to do so.

How is a financial advisor going to help me grow my wealth and become financially free?

A financial advisor will be beneficial to your wealth in the following ways:

  • By planning and mapping out your financial goals and setting up an action plan to ensure that you reach them.
  • Assisting you with budgeting to make sure that you are properly managing your income and expenses.
  • By ensuring that your funds are invested in such a way to ensure maximum returns at the most appropriate risk level as well as reviewing your investments frequently.
  • By drafting your will and estate plan to ensure that your loved ones are taken care of in the event of your death.
  • Helping you prepare for unplanned life events with a severe illness policy, life cover or disability cover. They will also be able to assist in protecting your income if you are unable to work due to disablement with an income protector policy.

There are so many frauds out there, how I can distinguish between legit and fake financial advisors?

Every financial advisor must be registered at the Financial Services Conduct Authority (FSCA) with a valid registration number. When you look for or are approached by a financial advisor, remember to ask them whether they are registered with the FCSA. Additionally, a financial advisor must have the relevant experience and qualifications from a reputable training institution in order to be registered as a financial advisor.

If you require any assistance with financial planning or any of the above-mentioned services, make sure you contact Cornerstone Financial Planning today on 011 794 6611 or email info@csfp.co.za. We are leaders in the industry and pride ourselves in providing excellent client service and expert advice. Also, remember to follow us on Facebook and LinkedIn for more interesting and informative content.

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