Is a financial adviser a must?

(Shutterstock)
(Shutterstock)

A Fin24 user wants to know if it is compulsory to appoint a financial adviser when one retires. He writes:

Is it compulsory to appoint a financial adviser in the case of my retirement?

Gustav Potgieter CFP® of Aurum Trust responds:

No, but it is advisable.
 
A qualified financial adviser can guide you through the gauntlet of tax and other legislation and can assist you in saving or gaining thousands of rands, depending on your retirement capital.

READ: Choosing a financial adviser

A qualified financial adviser can also help you to make the right investment choices. Remember, a product provider is seldom authorised to give advice.
 
In layman's terms: Depending on your illness, do you go to the retailer (off the shelf) or to the doctor?

If you are serious about your money and want it to do well, speak to a financial adviser (doctor), preferably a CFP®. Otherwise, do the DIY retailer method and face the consequences yourself.

ALSO READ: Do I need a financial adviser on retirement?

Disclaimer:
Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers. Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.

ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1368 votes
It depends on how the funds are used.
73% - 8860 votes
No. We should have gotten the loan elsewhere.
16% - 1959 votes
Vote