Making better choices
is not always this easy


Do banks offer free advice from qualified financial advisor?

Our qualified financial advisors in Johannesburg address the topic of free financial advice offered by banks and why you need a qualified financial advisor.

Although banks often have a qualified financial advisor on their premises, their advisory services are vastly different to that of the bank teller.

When we visit a bank, whether it’s to print a statement, change our details or open an account, we deal directly with a professional consultant.

Unless, of course, we have made an appointment to see the financial advisor who is usually occupying a private office space in the back area of the bank.

Financial-advice - Qualified financial advisors Johannesburg

Can bank tellers give financial advice?

In many cases, bank tellers are considered customer service representatives and are there to help us with our daily banking transactions.

Although these representatives have in depth training or education on financial matters, it’s a far cry from being a qualified financial advisor.

This is not to say that you should be sceptical of the advice these professionals offer you, but it’s important to remember that the extent of their knowledge is mostly limited to the products sold by the bank itself.

Indeed, they will be able to offer you extensive information regarding accounts and other basic investment plans, but this is not the same as receiving life-long comprehensive financial advice.

Why do I need a qualified financial advisor?

Ask yourself, if your tooth needs extracting, do you do it yourself? Surely the answer is no? You would most likely see a qualified dentist.

Let’s face it, the DIY approach only works for some things. The more serious things, however, should be done by someone who is educated and trained.

The same applies to your personal world of finances. Having a financial advisor by your side offers you ultimate peace of mind.

You can rest peacefully at night knowing that your money is where it should be, rather than laying awake wondering if you’ve made the right investment or not.

The benefits of sound financial advice are far-reaching and should not be underestimated. Here are 5 reasons why you need a financial advisor:

  • There is more to it than investing – While taking care of your investments is part of an advisor’s role, they are able to do much more:
    1. Tax planning – Financial advisors are experts on all matters related to tax. They make sure you stay out of trouble with the tax man
    2. Rebalancing your investments – Your financial needs change as you age and an advisor can help you change the percentages you’ve invested in different areas in order to protect your wealth accordingly
    3. Estate planning – Your advisor can work alongside your estate attorney to make sure your assets are distributed according to your instructions
    4. Spending strategies – Monthly budgets, financial goal setting and deciding which income stream you will access first upon retirement are all things your advisor can assist you with
  • Objective outlooks are beneficial – A professional financial advisor can take a look at your financial situation from an objective point of view. They are not emotionally invested in anything, which means they are not blind to weak links in your financial chain. They can identify these weak areas and offer advice on how to fix them, before the chain snaps.
  • Staying on track is harder than it looks – When the going gets tough, even trains come off their tracks at times. A financial advisor can not only help you stay on track with your retirement savings plan, they can even put you ahead. Crunching numbers is child’s play for an advisor. In this case, don’t take matters into your own hands – leave it to the pro’s.
  • Financial emotions wreak havoc – Yes, the stock market has dropped. Yes, it will go up again. It always does. However, as humans are emotional beings, seeing a serious drop in the market feels like you are watching your money disappear in front of your eyes. So, the natural response is usually: “withdraw and hide under a mattress immediately!”. Financial advisors get in the way of your panic and ensure you stay smartly invested. On the other hand – they will also stop you from seeing dollar signs and cashing out as soon as the markets soar.
  • Time is money – Understanding investments, stock markets and other financial matters can require many hours of research. Many people don’t have the time it takes to do thorough research before making an investment. So, they end up simply not investing at all. A financial advisor has already done the time and has emerged with all the knowledge and power you need. By placing your matters into the capable hands of a financial advisor, you make the most of your money while you can focus on everything else.

Olemera – Financial Advisors in Johannesburg

Our financial advisors in Johannesburg are skilled, qualified and willing to guide you safely along your financial path.

By providing comprehensive financial advising services, we aim to help you reach your financial goals and dreams.

To speak to one of our professional advisors, contact us.

Comments are closed for this post, but if you have spotted an error or have additional info that you think should be in this post, feel free to contact us.


Get the latest updates in your email box automatically.