Guiding consumers since 2009

Are financial advisors still needed?

By Staff Writer

As consumers continue to get busier, their free time diminishes as does their penchant for doing anything that isn’t convenient or quick. Thus it is understandable how and why direct insurers have grown in popularity and market share.

But people underestimate the value of a financial advisor, whether in helping them to plan better so that they can not only achieve their monthly financial goals, but to look at the long term and start saving for the future too. Far from being an unnecessary expense, a Financial Adviser  can perform a similar role as having a fitness trainer at the gym – you know you need to do it, but without that extra motivation and expertise to guide you, you just never quite get round to it.

“Just as you would make an effort to find the right partner to build a relationship with at your bank, in your business or at gym, finding the right person to deal with your money is just as important -  trusting them and having confidence in them is key,” says Frank Schutte, MD of Retail Sales and Distribution.

Schutte, explains why advisors play such a valuable role:

Dealing with an insurance broker means that you can schedule an appointment and sit down to discuss your unique insurance needs. (S)he will be able to tailor an insurance policy to suit your cover requirements; at an insurance rate that will suit your pocket. If you prefer doing business on a face-to-face basis, and have someone who you can call whenever you have a question or an insurance related problem, then this is the way to go.

An experienced broker has, over the years, become expert and specialised in the art and science of looking for the best insurance deal that fits a particular customer. As a customer, you become interested in insurance issues only when you are about to purchase insurance; the broker deals with insurance every day of the year and knows so much more about insurance issues.

The years of experience as a professional in the business are not something a consumer can match with a few days of research, particularly changes in regulations covering financial services and the insurance industry.

Even the most diligent customer will probably not go beyond looking at five different insurance offers before deciding to choose one product. With so many insurance products in the market, you will not really know if you have looked at the best possible deal for you.

Provided that the broker knows enough about your particular circumstances to gauge your insurance requirements, the broker can offer you a much broader range of options than you would be able to generate yourself. This helps you find the product with the best value for you and make the most informed decision.

Whatever your preference, make sure your money is with a company you can trust.

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