See full profile: Sandton Financial Advisor- Reneè Roe
Were you always planning to be a Financial Advisor and why?
No, I originally planned to be a professional equestrienne! But I decided to go and study, and during the course of my third year (Bcom Finance degree), I realised I loved financial planning and decided to pursue that route. No regrets!
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, Online meetings are very popular.
What is your preferred mode of communication with your clients?
Email, Phone, Face to Face, Skype, WhatsApp, any method is used, I do not have a preference.
Have you ever done an online video call with a client?
Yes
What do you love most about being a financial advisor
I love the interaction with unique people, and it gives me great joy in adding value to their lives through helping with their finances and financial plans. It is very satisfying having clients let me know they feel "better" or at ease after a discussion and that I've taken a great weight off their shoulders.
Would you recommend becoming a financial advisor as a career for school-leavers, and why?
Yes, but as with anything, you do need the right qualities for this career. It is immensely satisfying knowing you can make a difference in a person's life and leads to a lot of job satisfaction. It's an interesting career with a lot of variety, but does test your problem-solving capabilities!
What qualities should South Africans be looking for in their financial advisor?
Honesty and integrity, empathy and curiosity, be knowledgeable and have problem-solving skills.
What is the biggest challenge facing financial advisors today?
I do believe advisors and brokers acting unethically and not in the best interests of their clients have tainted the industry somewhat, and there is a general mistrust of financial advisors. There are too many "hit-and-run" brokers selling products for commissions only and not to foster a long-term relationship with a client. Clients cannot always discern the good from the bad, and they would rather not engage with an advisor at all, even if they would benefit from having a proper financial advisor.
What aspects of financial advising do you focus on most?
I take a holistic approach and start from building a proper budget and move on from there. Estate planning is very important and does not get enough attention, with too few people having properly drafted and valid wills in place. Retirement planning forms a large part of my advising focus. Further to this, I have been doing more and more financial coaching.
Describe your average client:
I deal with a variety of clients, all unique and from different backgrounds. I cannot really state an "average" as everyone is so different, but will say that majority of my clients are hardworking and serious about their financial wellbeing and looking to team up with someone to help guide and collaborate with them on this journey.
How far away from your premises is your furthest client?
I have clients as far away as China and New Zealand!
From your financial advising experience, if you could cite one of the biggest reasons financial goals, what would it be?
Lack of financial literacy, this should be taught from school level - how to save, how to invest, how to do taxes, etc. I have also found South Africans to be quite concerned with their "image" and taking on a lot of debt to fund unnecessary expenditure and luxury items. A big concern is the lack of financial literacy and financial opportunity amongst women especially, with a lot of women unfortunately either choosing to or having no choice but to be financially dependent on their spouse instead of having their own financial plan in place.
What financial software do you like best?
I currently use Atwork and have found it very useful in drawing up financial plans and projections for clients. The various service providers I use all have their own software and I regularly use some of this too.
What other software, online services or apps do you use?
An app called "Financial Calculators", 22Seven, QuicklySign for their online document approval capabilities.
Do you think the coming wave of automation in the next few years will steal some financial advisor jobs and why/why not?
I believe those who do not have a good inter-personal relationship with their clients might be in trouble. With the amount of information available these days, anyone can quickly open an RA or TFSA, but people still want another person to speak to, to be a sounding board and help them make good financial decisions. A robot cannot offer that human-to-human interaction that so many want and need.
What is your opinion on Bitcoin?
I believe it can be considered as a bit of a diversifier in a well-balanced portfolio, if you have some extra money and you're not sure what to do with it, you can consider buying Bitcoin. Just be prepared to lose it too! But Bitcoin mining does have a significant environmental impact that's not always considered and the unregulated nature of it is something one should be mindful of, we have seen an incredible amount of scams and "rug-pulling" around Bitcoin.
What do you enjoy doing in your spare time?
Riding and interacting with my horse, walking and doing agility with my dogs, reading, tending to my houseplants and socialising with friends.
What is the most interesting thing on your bucket list?
Seeing a wild Orca, preferably up close!
What has your experience been on FindanAdvisor?
Easy to work with and smooth experience so far. I have not yet had any potential clients contacting me, but it may take some time. I am considering writing some articles for additional exposure.
See how our other local South African financial advisors have answered the above questions.
