See full profile: Bedor Financial Advisor - Edgar Brunsdon
Were you always planning to be a financial advisor and why?
I was a Director of a local business. Running the financial side as well as the operational side of the business. When it became time to sell the business to a corporate company, I decided that it is time to make a carrier change as well. My personal financial advisor came to me and suggested that I consider a carrier as a financial advisor as she saw all the needed characteristics in me. This was an opportunity that grabbed my attention immediately.
When meeting with clients do they mostly come to your own premises or do you mostly go to their office?
I mostly go to my clients
What is your preferred mode of communication with your clients?
Email, Phone, Face to Face, WhatsApp, Zoom
Have you ever done an online video call with a client?
What do you love most about being a financial advisor?
After finishing my initial training and studies I found joy in assisting and educating my clients in finances. Having to go through many trial and errors, or excruciating processes my self as a director, I know how valuable some guidance is. Even more important to have someone who understands the fine print in contracts and can show you where to be careful. I further learned that the insurance industry has a wide range of products and Investment vehicles that will make it difficult to select the correct option for a specific need. Even though the advertisement sounds perfect for you, the 30 odd smaller factors that you will only find in the contract of this investment may not be suitable for you. This is why I feel passionate about being a Financial Advisor.
Would you recommend being a financial advisor as a career for school-leavers, and why?
I would most definitely recommend this carrier path to school leavers that is driven in making a success for themselves. My only experience is with Sanlam but I believe that through hard work this industry could assist you in furthering yourself as a person and financially improve your life. Although the emphasis is made on hard work and dedication.
What qualities should South African businesspeople be looking for in their financial advisor?
The first factor is, is your financial advisor a salesperson selling as many products as possible to you or does he identify a need and suggesting a solution to you?
The second factor I believe in does your financial advisor explain the different solutions and products to you in a way you understand.
The third factor is most definitely service. Does your financial advisor or supporting staff deliver appropriate service in a timely manner?
What is the biggest challenge facing financial advisors today?
My personal opinion is that the newer generations think they have all the knowledge they need at their fingertips with Google and other search engines. They also have the opportunity to assist themself by purchasing insurance, investments and other industry related products online without the help of a financial advisor. This often leads to disappointment and negative feelings regarding insurance as they did not select the product or investment most suited to their specific need or even fell for the headlines and never investigated the product properly.
What aspects of financial advising do you focus on most?
I pride myself on being a self-proclaimed financial educator. I always try to suggest 2 solutions to a client and then ensuring that they understand both solutions. Thereby empowering them to make an educated decision. This way they also add personal value to the solution and is more likely to stay loyal to the product or investment.
Describe your average client:
I do not have a preference as everyone could use financial guidance. But currently, my client base is widely spread in all market sectors. Mainly aged 30-45.
How far away from your premises is your furthest client?
Being able to work digitally I believe location is no longer an issue. I currently have clients who moved to Western Cape a few years back and they still wished to remain my clients and i still service them when needed or at least once a year. But the majority of my clients are in Limpopo.
From your financial advising experience, if you could cite one of the biggest reasons South Africans don't achieve their financial goals, what would it be?
Honestly, I find that most clients 50 years and older that are looking at their retirement complain that they did not have the knowledge or proper guidance at a younger age to save enough for their retirement. Their younger selves stayed ignorant and believed that they are saving enough. Some even claimed that they did not know about Retirement Annuities and placed all of their hopes on their Pension and Provident funds.
Younger clients I find are more lenient towards investment and they do see the importance of saving towards certain goals, but struggle to stay loyal to their goals with so many unexpected expenses.
What financial advising software do you like best?
Sanlam provides me with Sanlam`s own tools and software and I feel confident using them as I know all the needed safety measures are built in their software and they have a top IT department, stopping any personal information being hacked or leaked.
What other software, online services or apps do you use?
Do you think the coming wave of automation in the next few years will steal some financial advisor jobs and why/why not?
Referring back to a previous question: What is the biggest challenge facing financial advisors today?
"My personal opinion is that the newer generations think they have all the knowledge they need at their fingertips with Google and other search engines. They also have the opportunity to assist themself by purchasing insurance, investments and other industry related products online without the help of a financial advisor. This often leads to disappointment and negative feelings regarding insurance as they did not select the product or investment most suited to their specific need or even fell for the headlines and never investigated the product properly. " For this reason, I believe if we as financial advisors evolve with the changing times we will always be needed and be able to assist clients way better than any automated system. I believe without Financial Advisors the financial institutions will face large public relations problems and will feel the financial pressure. As there are just way too many different situations and scenarios for an automated system to cover.
What is your opinion on Bitcoin?
As a Sanlam Financial advisor I am very limited to discuss Bitcoin publicly. But believe once more that it could be a solution based on an individual situation for a specific client.
What do you enjoy doing in your spare time?
I love camping and outdoor activities like hiking and outdoor sport with my friends and family.
What is the most interesting thing on your bucket list?
Riding the most extreme Roller Coaster in my opinion, the Kingda ka. This is in Jackson, New Jersey, USA.
What has your experience been on FindanAccountant?
Currently, I am still new to FindanAdvisor but the few interactions I have had was pleasant and easy.