Start Building your Future Knowledge.

~ by Farrell Hots 1.618 Executive Advisor ~

My role as an Advisor is to meet with people and to get a basic understanding of the person - as well as understanding their needs and advise on three different elements of financial savings. These are: • Short-term savings - which are all your flexible investments; • Medium-term investments - which is generally a 5 to 10 year plan. • As well as advising clients on retirement planning.

I also advise clients on how to structure their finances that are the most tax efficient and how to invest either locally or offshore. It's one thing advising clients on investments for the future, but I also have to take into account that, unfortunately in life we're faced with certain unforeseen circumstances, such as death, dread disease and disability.

People generally feel invincible and love to think that they will never fall ill, never not be able to physically earn an income, and think that they are immortal and will live forever. It's almost as if they've blocked the unthinkable out of their minds.

The challenge I face is that life and risk cover is never bought - it always has to be sold. It's generally a grudge purchase - but my job as an advisor is to educate people that things unfortunately do happen, and if they do, provision is made to cover all debt expenses.

People like to generally see Advisors as pests, but when - God forbids - the unthinkable happens to people, the Advisor is generally the first person they or their beneficiary call or turn to. People are so quick to insure their homes, cars, watches, jewellery but not theirs or their families life - which still to this day - I cannot work out why.

It's my job to ensure that if the unthinkable happens, their families are not left paying their unpaid debts or be left destitute. I also advise and ensure that in the event of disability, severe illness or death, families have enough money to pay for their kids education. I then make sure that I look at how much money in excess is needed on a month to month basis for their families to live for a certain period of time.

The advice that I give to my clients is also based on their particular budget. A story comes to mind of one day when I went to a company and I met with 7 people from the company. No one in the company took any form of risk cover as they believed it wasn't necessary and a waste of their hard-earned money. A few weeks later, unfortunately, one of the ladies working the company's - husband was cleaning leaves from the roof. He fell off the roof and was left paralysed. Literally the next week everyone in the company signed a risk policy that they could afford as they saw the importance of having these things in place.

What do you need to put in place to insure your future and the future of your family?