Darren Robertson, CFP®, Owner, Opes Wealth
How do you charge for your services?
We offer our clients unique remuneration models which suit their needs or philosophies, such as regular product commissions or an Assets Under Management (AUM) fee model or straight fees (such as hourly rates, monthly or annual retainers).
What do you enjoy most about being a financial planner?
For clients. I feel as though we, as financial planners, have such an important role to play as stewards of wealth and legacies for clients and their families. We also serve as teachers, guides, coaches and friends to our clients – and these relationships are beautiful.
For me and my family. The opportunity to build a practice which gives me the time and flexibility to spend time with my family and to be present in every aspect of their lives.
If you could have one wish for the financial planning profession, what would it be?
My one wish would be that we complete the transition into a fully recognised profession and that the distinction between CFP® professionals and product salespeople is clearly defined and distinguished so that there is no confusion in the public space. Furthermore, I would like to see more like-minded people who want to enhance and grow the industry joining instead of sales-oriented people.
Shaun Thompson, CFP®, Financial Advisor, Asset Tree Financial Advisors
How do you charge for your services?
We are remunerated by law up to a certain percentage or rand value that increases annually. Many people are not aware that built into the medical aid and gap cover premiums is a commission to the advisor.
What do you enjoy most about being a financial planner?
I feel the most fulfilled when I am sitting with a client, working through a plan and seeing the client value the advice given. The client’s appreciation expressed through a simple “thank you” after a productive meeting goes far beyond money for me.
If you could have one wish for the financial planning profession, what would it be?
That people stop thinking we are sales agents. As a financial planner, we want our clients to know we advise and build a comprehensive plan, and the products are put into place to assist with your goals for the future.
Bryan Nicol, CFP®, Lifestyle Financial Planner, Freedom Financial Planning
How do you charge for your services?
We work purely on a flat-fee basis, meaning our clients pay us an agreed-upon retainer fee (specified rand amount) to serve as their financial planners. For any adhoc work, we quote a project fee. No commission, no AUM.
What do you enjoy most about being a financial planner?
Positive client outcomes.
If you could have one wish for the financial planning profession, what would it be?
That more financial planners start valuing what we do. My observation is that many planners provide financial planning for free with the hope of being remunerated upon the implementation of recommended products. I think it is unreasonable to expect the public to value what we do when the message we’re putting out there is that we don’t. If we want to be viewed as a profession, then we need to act like one.
