Wagging tongues
South African cricketer Herschelle Gibbs is in trouble again. Hes on the receiving end of a two test-match ban for comments made during the Protea's recent encounter with Pakistan. Herschelle probably deserves a bit of sympathy... His outburst was in r
Talking without thinking is not an affliction reserved only for professional cricketers. Local radio is full of fast-talking disc jockeys that make the occasional 'foot in mouth' comment. Take a quick look at the Broadcasting Complaints Commission of South Africas (BCCSA) website if youre in any doubt.
Putting your foot in it
An FAnews reader recently shared one such incident with us. It is an excerpt from Jakaranda 94.2 's Breakfast with Kieno show. Kieno makes a sweeping statement which gifts financial advisers the title 'public enemy number one'!
Kieno: "Theres certain people you need to watch out for. Number one I think the first category of people you really need to be careful of: financial advisers.
Some of them end up in jail so its not a very good idea to always just take something your financial adviser tells you on the face of it. Maybe you should always, like a doctors, get a second opinion.
Source: Radio Jakaranda, Breakfast with Kieno, 7 November 2006 between 07h00 and 07h30
Kieno's comment casts the entire community of financial advisers in a poor light. At least one respondent felt aggrieved enough to report the statement to the BCCSA. We'll wait with interest to see if they take any further action...
Of course, the BCCSA will have to consider context and tone when analysing Kienos words. Given the statement preceded a comedic insert they may rule it was made in jest and should be treated accordingly.
This aside, individuals in the public domain should exercise more care before voicing their opinions.
Establish a trust relationship
Financial advisers take pride in their work and provide a valuable service to consumers of financial products. They work in an industry which is increasingly regulated and policed by a number of industry watchdogs.
The insurance industry has gone to great pains in recent years to improve relationships with both customers and regulatory bodies.
You dont need to "watch out for" your financial adviser as Kieno suggests. Instead you should work on building a trust relationship with him / her. If you feel the advice you are receiving from your adviser is of less than satisfactory quality, then by all means, get a second opinion. Check the facts with another financial professional or spend some time researching your options online.
Never commit your hard earned money to a policy or investment unless you are 100% happy with both the product and the advice received.
Editors thought:
I tend to ignore comments of a spurious nature. Learn to trust in the sensibilities of the general public. They will more likely be swayed by real-world experiences than random ill-thought comments.
