How to choose a financial adviser for your journey

Most South Africans know they need a financial adviser, but few know from the outset how to choose the right one. As a result, consumers often focus on cost rather than on the adviser’s professional status, experience, and track record.

It’s important to note that there is no direct, upfront cost associated with appointing or choosing a financial adviser; their ongoing commission or advice fees are factored into the pricing structure of the financial solutions available to you. Because the cost is built into the solution, the decision should never focus on finding the "cheapest" option. Instead, it should be about finding a partner who delivers genuine, tangible value.

At a time when consumers have to make increasingly complex choices, navigating this decision with clarity can have a profound impact on your long-term financial outcomes.

The value of an advice-led journey
Financial advice should never be treated as a once-off, transactional event of buying a policy or signing an investment contract. Instead, it’s an ongoing partnership that shifts as your life does.

An advice-led approach focuses entirely on your needs at specific life stages and your long-term objectives. A structured financial plan influences client outcomes by keeping you anchored during market volatility and ensuring your portfolio adapts to major milestones. In your early career, for example, income protection and basic savings could be important considerations. As your family grows, you may want to include education savings. As your career progresses, building wealth, a sustainable income in retirement and estate planning could deserve closer attention.

Throughout these phases, an adviser serves as an objective strategist, helping you weigh options, manage risk, and maintain the discipline required to build lasting wealth.

Look for FPI accreditation
When evaluating a professional, consumers often place emphasis on specific academic qualifications. While academic and technical degrees can be considered, the absolute baseline requirement to look for in a financial adviser should be professional recognition and regulatory compliance.

Look for an adviser accredited and registered with the Financial Planning Institute of Southern Africa (FPI). FPI registration is a compulsory benchmark for financial planning professionals in South Africa, ensuring the adviser also adheres to a strict continuous professional development (CPD) framework annually and a binding code of ethics. This registration is your assurance that the adviser has the current knowledge required to guide you.

Knowing your numbers: The ultimate reality check
Good advice is relative, which means labelling financial advice as simply "good" or "bad" misses the point. The success of an advisory relationship depends on your willingness to be completely transparent.

To get the most out of an adviser, clients must know their own numbers. Before your first meeting, map out your baseline realities and timeline horizons:

• Education: How much will your children’s education cost, and how many years do you have to accumulate those funds?
• Retirement: What is your realistic monthly income, and what is your current funding gap?
• Healthcare: Do you or your dependants suffer from chronic illnesses that require specialised medication?
• Individual goals: What are your short-to-medium-term savings targets, and what capital is required to achieve them?

When you bring accurate numbers to the table, an adviser can build an authentic strategy and financial plan rather than a generic template.

Five key questions to ask a potential adviser
Finding the right adviser is ultimately about personal and professional fit. The right adviser won’t judge you for what you don't have in place; instead, they meet you where you are on your financial journey and walk with you to where you want to be.

To determine if an adviser is the right fit for your journey, ask these four questions during your first interaction:

1. “Are you accredited with the Financial Planning Institute (FPI)?” This confirms their commitment to professional standards, ethical behaviour, and ongoing industry education.
2. “Are you independent, or tied to specific product providers?” This helps you understand the range of solutions available to you.
3. “How will we manage our ongoing relationship over time?” This establishes the review framework, ensuring they are committed to a long-term partnership rather than a single transaction.
4. “How do you tailor your advice to clients who are starting out or re-aligning their finances?” The answer will show you whether they are ready to meet you where you are and focusing on sound, steady progress.

How regulation is putting clients first
The push towards client-centricity is supported by an evolving regulatory framework. In early 2026, National Treasury formally introduced the Conduct of Financial Institutions (COFI) Bill to Parliament. The aim of the bill is to transition the industry from rigid, box-ticking compliance to an outcomes-based, client-centric model.

The foundation of COFI – and the broader regulatory environment – is Treating Customers Fairly (TCF). Under this framework, financial institutions and advisers must actively demonstrate that their advice, solutions they propose, and ongoing services result in fair, positive outcomes for the client. This regulatory shift ensures your interests remain protected and central to every recommendation made.

Choosing a financial adviser is one of the most significant steps you can take for long-term security. By focusing on accreditation, demanding transparency, and seeking an empathetic partner who respects your current reality, you can transform financial planning from an administrative chore into a powerful tool for growth.