Most people cringe when they here the words Financial Advisor, either because they are scared to share their finances or they just feel that the advisor is going to sell them insurance that they don't need.
People don't know the true value of having a Financial Advisor, and the benefit that one plays in their lives. The only time people might see the benefit of having a Financial Advisor would be when they are stuck for hours or days with different call centre agents trying to make a claim on one of their policies.
Today I heard a story of how a financial advisor actual changed someone's life.
A very prominent advisor who is one of the best in the country was looking for something to do as he had seen all his clients for their reviews. He asked a colleague if they had anything for him to do and they told him that they were busy sorting through a room full of old paper-based contracts that needed to be uploaded on to the system. The colleague asked if he would mind trying to trace the clients as some of the policies had matured.
The advisor who hasn't made a cold call in years, decided to take on the challenge and call a few. One of the clients he came across was a man by the name of Mr Rodriguez. He spoke to Mr Rodriguez and explained where he was from and why he was calling. Mr Rodriguez didn't say a word through the whole conversation and just told the advisor that he could meet with him on the following Thursday.
Thursday came and the advisor, dressed to the tee in his three piece suit and suit case, and arrived at Mr Rodriguez's home. He buzzed the intercom with no luck, tried hooting with no luck and was ready to give up but decided to call his secretary. He told her that no one was home but she said he should try again before he leaves. He hooted once more and a man came to the gate to open for him, it was Mr Rodriguez.
The advisor went in with Mr Rodriguez and proceeded to tell him the purpose of his visit. Mr Rodriguez had invested R100 000 in 1999 and it had matured this year and was worth R2.5 million. Mr Rodriguez's wife had invested R60 000 in 1999 as well and the investment had matured this year at a value of R1.9 million. In total there was R4.4 million that was due to the family. The advisor was about to tell Mr Rodriguez his options of reinvesting the money when Mr Rodriguez picked his finger up and pointed it at the advisor and told him, "if you are pulling my leg, you may as well just leave now."
He proceeded to tell the advisor that 10 years ago his business was declared insolvent and he lost everything. The creditors had attached everything. His daughter was a quadriplegic and she needed an operation that cost R25000. He was diagnosed with leukemia 18 months ago and hasn't worked a day since. He paid his last bit of money to his medical aid last month and he is now left with nothing.
He couldn't understand if the creditors had taken everything why they hadn't taken this policy. The advisor then realized that it was because it was stuck in a room in the insurance companies building as was still on a piece of paper so no one would have been able to trace it.
The man called his wife into the room and told him that the advisor says there is R4.4 million due to them. She also proceeded to say that they lost everything 10 years ago so it was not possible. The advisor then told her how it was possible.
Mr Rodriguez is out of debt, his daughter had a successful operation, he is back on medical aid and getting his treatments regularly and he still has some money left over.
You may not realise how important having a financial advisor is at this present moment, but years down the line - don't be one to regret!
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