The Often Misunderstood
Role of the Financial Adviser
The role of the financial adviser , especially when it comes to serving professionals , is often misunderstood . There are some that argue that modern technology will eventually make most financial advisers obsolete . “ I am comfortable with technology and smart enough to do many things that advisers used to do ; I do not need one .” Others believe that the sole job of a financial adviser is to direct them to the fund or stock that will have record returns over the next few years . At PPS we disagree .
It is certainly true that there are many tools nowadays that enable professionals to get information , do research and calculations , populate application forms , and much more that in the past only financial advisers could do . And many professionals are smart enough by virtue of their professions as accountants , economists , actuaries , and other disciplines , to do certain aspects of the job of a competent financial adviser .
However , we are of the view that most , if not all , professionals can do with a good dose of financial mentoring from time to time , and for many reasons .
Firstly , a top-notch financial adviser often injects some necessary discipline into the system . Most of us know that financial planning is a balancing act between enjoying the fruits of our labour today ( instant gratification ) and caring for our future tomorrow ( delayed gratification ). It is tempting to stray from the plan and succumb to the persuasive power of advertising .
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