By Karla Cloete
Edited by Randy Tsubane
Money has the ability to make people nervous. Whether it’s splitting the bill at dinner, or asking a friend for the money they owe you. Managing your finances is complicated, especially with the world telling you where to put your money. However, for Therisa Broekman, finances are more empowering than confusing.
According to Forbes, a financial advisor is:
“A professional who is paid to offer financial advice. Just as you would hire an architect to create a plan for your home, you hire a financial advisor to create a plan for your finances. It’s all about paying someone for the expertise you need to reach specific goals.”
Financial Advisors can assist us with:
- Investment advice
- Saving for your education
- Managing your debt
- Budget management
- Planning for retirement
- Estate planning
- Planning your taxes
52-year-old Therisa is a senior financial adviser who works at PSG and specializes in investments. She loves gardening, reading and being outdoors with her two children (22 and 23).
Today she sees clients from all over South Africa, but also advises people Internationally. From countries such as New Zealand, Australia, Abu Dhabi and from across Africa.
Therisa loves what she does, but becoming a financial advisor was not her first choice. Her passion was in investment. Between her accounting background and the limited work opportunities in her hometown, it was unfortunate that she struggled to find her way.
Her mother-in-law suggested she join her at Old mutual. At first, Therisa was skeptical. She didn’t want to sell policies. She also had a small windowless office where she had to make 3 sales before they would even consider sending her for any training.
However, with Therisa being as competitive as she is, she managed to do her first 3 investments in just 2 weeks. She jumped in immediately; doing every course and seminar she could get her hands on. She finally completed her qualification as a financial planner.
For Therisa, being a financial adviser means carrying vast responsibility. People work hard for their money and they trust her to give them peace of mind. This means that she needs to understand the economy, be up-to-date on local, as well as International news, and to constantly be learning from her mistakes in order to give her clients the best possible guidance. Therisa has established that working in finance isn’t all stocks and spreadsheets. Her favourite part of the job are the relationships she has built with her clients. Getting to know them, their heart’s desires, and to share in their joys. She helps them make life-changing decisions.
To know you were part of that journey, is the ultimate satisfaction.
As much as a financial planner is there for the joys and triumphs of their clients' lives, they are also there for the worst moments of their clients’ lives.
Therisa offered her services during the Hoërskool Driehoek tragedy. In February 2019, a concrete slab above a corridor of the school collapsed and fell onto 26 pupils. The accident injured many students and sadly claimed the lives of four students- Roydon Olckers, Jandré Steyn, Marli Currie and Marnus Nagel.
The accident shook not only the school but the whole community and country as news of the tragedy spread. Parents, students and on-lookers felt completely helpless in the wake of the devastating news. Offers of help, both services and financial aid for the injured students- poured in from every corner of South Africa.
It was during this time that Therisa became involved. As a parent in the community herself, she was touched by the plight of these parents. She offered her time and skills to manage the donation fund. She also ensured that the families got the money they needed to get their children medical help.
“The extra financial expenses in some families were more than they could afford. I truly believe, to be able to assist financially, made a huge difference in a time with more questions than answers. There were difficult decisions to be made, but I do believe we made a big difference in a number of families' lives. By the Grace of God, we are better prepared for what the future may hold.”
Therisa’s advice to young people educating themselves on finances:
Always work on a budget, and always keep your budget to a maximum of 70 percent of your income.
She says that this can serve as a buffer for when life happens and can certainly save us from unexpected expenses and disasters.
Therisa also advises young people that they needn’t wait to start “earning enough, or to be settled” to start learning about finances or to seek help from experts. As soon as you receive your first pay cheque, you should start setting goals and seeking guidance.
What should you look for in a financial advisor?
It needs to be a partnership with an advisor who understands you and your goals. This includes your spending, your needs and your expenses as well as your expectations.
Therisa also warns that a number of financial advisors can use a lot of smoke, mirrors and wwe. We shouldn’t let or allow ourselves to be misled by impressive schemes. It’s important to choose someone who can guide you through the minefield of products, laws and companies.
Doing thorough research and finding someone who meets your short goals, long-term goals, needs and has experience in the areas you would like to focus on. The person you choose should be qualified with an economy based degree, should have passed the regulatory (RE5) exam, and they need to be registered with their CPD points up to date.
Therisa says they should also have good working knowledge of their products as well as the law. They should have great people skills and get to know your needs.
Resources:
Napoletano, E. and Curry, B., 2020. Financial Advisors Help You Plan For The Future. [online] Forbes Advisor. Available at: https://www.forbes.com/advisor/investing/what-is-a-financial-advisor/ [Accessed 7 September 2021].
Ngqakamba, S., 2019. Hoërskool Driehoek gets newly built walkway after deadly tragedy | News24. [online] News24. Available at: https://www.news24.com/news24/SouthAfrica/News/hoerskool-driehoek-gets-newly-built-walkway-after-deadly-tragedy-20190423 [Accessed 7 September 2021].
Karla Cloete is a 22-year-old student, from Gauteng, currently doing her honours in Creative Writing at the North West University. She did both her undergraduate and honours degree in psychology. She is an avid reader and plant collector. She is also passionate about mental health, women’s rights and working with young people and children. Karla also dabbles in art and loves participating in debate in her free time. She also has a background in theatre and acting. Her ultimate goal is to become a psychologist and to work in children’s literature.
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