Who is a Financial Advisor?
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice.
Top Financial Advisors In South Africa
Financial advisors form a crucial part of the investing world and they offer a wide variety of products and services that can provide traders with an array of benefits. It is, however, imperative that traders ensure they only use legit professionals who have a fiduciary duty in acting in the best interest of their clients.
Thanks to social media, it is not easier for traders to connect with financial advisors through platforms such as LinkedIn, Facebook, and especially Twitter. The financial advisors that South African traders are advised to follow are viewed and discussed in the sections below.
Josh Brown (@reformedbroker)
Josh Brown is a financial advisor as well as the CEO of Ritholtz Wealth Management, working with the aim of helping traders and investors align their investments with the financial goals that they set for themselves in addition to helping manage their portfolios.
Clients range from net-worth households to corporations, retirement plans, and charitable foundations. Josh Brown reaches a large audience through his company website as well as his Twitter platform, sharing his insight with many who seek help, advice, and guidance in making improved trading and investment decisions.
Blair H duQuesnay (@blairhduquesnay)
Blair H duQuesnay is another popular figure on Twitter, with more than 13,000 followers and her own website called The Belle Curve. Duquesne is an investment advisor at Ritholtz Wealth Management and she works with a variety of clients to develop sustainable financial plans as well as investment strategies.
She has a weekly feature called ‘This week in Women’, amidst numerous other features on her website that focuses on an array of topics. By following her on Twitter, traders and investors are bound to receive valuable insight.
Sophia Bera (@sophiabera)
Sophia Bera has been on Twitter since 2011 and has more than 10,500 followers. Her feed is filled with a variety of financial topics including, but not limited to her opinions on business, advice on tackling financial tasks, how phone calls can save people money, how the pandemic could affect the ability of people to make simple business decisions, and much more.
Bera also has her own website called Gen Y Planning, which allows people to focus on their lives instead of on finances, helping them make their money match their values whether they are 20 years old, 40, or older.
Sheryl Garrett (@sherylgarett)
Sheryl Garrett has been a part of the Twitter community since 2009 and has more than 8,000 followers. Garrett also has her own website called Garrett Planning Network, with Garrett as the founder.
Garrett uses the Twitter platform to share a variety of insights in addition to retweeting valuable insights from other Twitter users and influencers regarding finances. This helps ordinary people in their journey to make better financial decisions and explore the options that they have for financial planning.
Jeff Rose (@jjeffrose)
Jeff Rose is a Certified Financial Planner (CFP) who is not only active on Twitter but hosts an array of YouTube channels that are focused on helping people ‘hack their wealth’. When clicking on the link featured on his Twitter Bio, people are redirected to a YouTube video titled ‘How I turned $509 into $10 million Dollars (as a side hustle).
Most of the posts on his Twitter feed surround a variety of topics such as how to get approved for credit in a financial downturn, how to improve your finances, scams that people must look out for, differences between successful and unsuccessful investors, and much more.
Marty Morua (@martymorua)
Marty Morua is not a financial influencer on Twitter, however, he does share a substantial amount of valuable insights regarding real estate as well as financial advice that may help a lot of people, even if it is merely to steer them in the right direction.
Russ Thornton (@russthornton)
Russ Thornton uses his Twitter account and subsequent website called ‘Wealth Care for Women’ to focus on helping especially young women, widows, and single mothers in obtaining financial power and freedom despite facing a variety of challenges.
How do I choose a financial advisor in South Africa?
Regulated industry
Stokes says it is also helpful if your financial adviser has a professional qualification. “The Financial Planning Institute (FPI) is an accreditation standards body for financial services professionals, and issues the Certified Financial Planner (CFP®) accreditation in South Africa.”
How much does it cost to hire a financial advisor in South Africa?
According to recent studies, the average fee for a financial advisor in South Africa ranges from 1% to 3% of assets under management. Some advisors may charge an hourly fee for financial planning, ranging from R1,000 to R3,000 per hour. The fees may seem high, but it’s essential to consider the value they can provide.
What is the difference between a financial advisor and a financial adviser?
Adviser. There are two common spellings for this financial term. U.S. laws and regulations spell out the rules for financial advisers, while many investment firms and media default to the more familiar advisor. Regardless of the spelling, all agree that there is no meaningful distinction between the two terms.