See full profile: Centurion Financial Advisor- Philip du Preez
Were you always planning to be a Financial Advisor and why?
Yes. I am passionate about people, math and money! This career just made sense. I worked as the CFO of a mining group after completing my CA (SA) articles. I realised then that I needed more interaction with people.
When meeting with clients do they mostly come to your own premises or do you mostly go their theirs?
I mostly go to my clients
What is your preferred mode of communication with your clients?
Email, Phone, Face to Face, Skype, WhatsApp
Have you ever done an online video call with a client?
Yes
What do you love most about being a financial advisor
I am able to add value to my client's life. My advice ensures that clients understand each product that they are buying, and the effects that it will have on their wealth, or their circumstances if a negative event were to take place.
Would you recommend becoming a financial advisor as a career for school leavers, and why?
Not everyone is cut out for this job. The industry is a very difficult one to get going. My advice would be to start under a mentor who is able to assist you in getting leads, and then converting them to issued business. I would suggest for school-leavers first get some market experience in other fields, and then becoming an advisor.
What qualities should South Africans be looking for in their financial advisor?
I am of a firm belief that anyone seeking advice should look at the financial status of their advisor. How can you trust someone to manage your wealth, if they are not doing a good job at managing their own personal wealth?
What is the biggest challenge facing financial advisors today?
Lead generation, and getting clients to invest what they actually have to. The cost of living has increased substantially more than the average salary increase over the past few years. This has placed a burden on clients to still save enough.
What aspects of financial advising do you focus on most?
I make a tailored package for each individual. PDPI is a boutique firm. There is no one size fits all solution here. I am most passionate about wealth creation, and the effects of compound growth on an investment.
Describe your average client:
My average client is a professionally qualified individual, who is either currently a high net worth individual, or at the start of a career and on the way to getting there.
How far away from your premises is your furthest client?
300km
From your financial advising experience, if you could cite one of the biggest reasons financial goals fail, what would it be?
Starting too late with their savings. Clients don't understand the effect that an extra 5 years of savings have on the PV of their retirement funds. It is of extreme importance to start saving ASAP.
What financial software do you like best?
I use Excel calculators
What other software, online services or apps do you use?
Momentum VIA
Do you think the coming wave of automation in the next few years will steal some financial advisor jobs and why/why not?
No, good advice will be tailored, and not based on a one size fits all approach
What is your opinion on Bitcoin?
It is a disruptor of everything we used to know around monetary products. It should be approached with caution, and treated as a hedge fund product or high-risk equity product. Clients can dabble in the Crypto space, but I would not recommend putting your life savings in there for now.
What do you enjoy doing in your spare time?
I am an avid fisherman, enjoy a round of golf and like watching most types of sport. I also enjoy spending time with my wife, and our French Bulldog, Monkey.
What is the most interesting thing on your bucket list?
I plan to own an operational mine somewhere in my life. When it happens, we will see...
What has your experience been on FindanAdvisor?
I receive around 3 leads per year, of which none have materialized thus far. The monthly premiums justify sticking around. I plan to give it another year, and will then re-evaluate
See how our other local South African financial advisors have answered the above questions.
