The Often Misunderstood Role of the Financial Adviser ( Cont .)
experts . The field of personal financial planning is extraordinarily wide , and one person cannot be a master of all the aspects related to personal finance .
There are tax advisers , bankers , fiduciary specialists , overseas investment specialists , lawyers , and many more . Clients of such an adviser , like patients of a trusted medical general practitioner , have peace of mind when they use these experts , because they have looked into the eyes of their trusted adviser who referred them .
A good adviser also gives assurance to a spouse and a family , because if anything happens he / she is a port of call who is on top of it all .
Finally , most professionals are time-deprived . Time is a scarce commodity in their busy lives . They could do some of those jobs themselves , sure , but personal administration and planning often drop to the bottom of the priority list and get neglected . How many professionals really want to do personal financial administration in their precious free time ? It is often better to leave it in the capable hands of an adviser or his / her assistant to mop up the admin .
At PPS the professionals who have taken up our financial solutions are not only clients . They are members of our mutual eco-system . We have created solutions to assist them and their advisers in covering the full spectrum of financial planning . An example is our Specialised Support Services ( S 3 ) unit , that works with our members ’ financial advisers .
What makes this team unique is that they are not allowed to implement advice . That is the job of our members ’ trusted financial advisers . We have created an environment ( 1 ) where professionals can talk to professionals , and ( 2 ) which is void of any sales pressure , as these consultants are not remunerated for the solutions they offer . In other words , they do not replace our members ’ trusted advisers , they support them . It is a unique value proposition in the financial services industry , a solution that is arguably only possible in a mutual context .
At PPS we are blessed to be associated with thousands of South Africa ’ s top financial advisers . It is our privilege to assist them with our S 3 unit , because even the very best cannot be experts in everything . And the ultimate winners are our members .
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