Common Questions you Should Ask your Prospective Financial Planner in South Africa

Published on: 17th November 2023 by the Media Team at Best Financial Planners in South Africa

Common Questions you Should Ask your Prospective Financial Planner in South Africa

Selecting a financial planner in South Africa is a crucial step in securing your financial future.

Whether you’re planning for retirement, managing investments, or navigating the complexities of the financial landscape, having the right financial planner is essential.

To help you make an informed decision, here are 10 best common questions you should ask your prospective financial planner in South Africa.

Table of Contents

1. What are your qualifications and professional credentials?

Explanation: In South Africa, financial planners should hold recognized qualifications such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA). These designations ensure that the planner has undergone rigorous training and adheres to professional standards.

Reason to Ask: Qualifications showcase the planner’s commitment to professionalism and expertise, providing you confidence in their ability to handle your financial matters.

2. How do you stay updated on changes in the South African financial landscape?

Explanation: South Africa’s financial regulations and market conditions can evolve. A proactive financial planner stays informed through ongoing education, industry publications, and participation in professional networks.

Reason to Ask: Staying current is vital in financial planning. A planner who invests in continuous learning demonstrates a commitment to providing you with the most relevant and up-to-date advice.

3. What is your approach to risk management, and how will you tailor it to my financial goals?

Explanation: Every individual’s risk tolerance is unique. A good financial planner will assess your risk appetite and design an investment strategy aligned with your financial objectives.

Reason to Ask: Understanding how the planner evaluates and manages risk ensures that your investments align with your comfort level and long-term goals.

4. Can you explain the fee structure for your services, including any hidden costs?

Explanation: Clarity on fees is crucial. Financial planners in South Africa may charge fees in various ways, including hourly rates, flat fees, or a percentage of assets under management (AUM).

Reason to Ask: Transparency regarding fees helps you assess the cost of services and any potential conflicts of interest, ensuring a clear understanding of the financial arrangement.

5. Are you a registered Financial Service Provider (FSP) in South Africa?

Explanation: In South Africa, financial planners must be registered with the Financial Sector Conduct Authority (FSCA) to legally provide financial advice.

Reason to Ask: Verifying their FSP registration ensures that the planner operates within the regulatory framework, providing you with a level of protection and adherence to industry standards.

6. How do you tailor financial plans to the tax landscape in South Africa?

Explanation: Tax laws play a significant role in financial planning. A knowledgeable planner should consider tax implications and optimize your plan accordingly.

Reason to Ask: Understanding how your planner integrates tax planning ensures that you maximize your financial efficiency within the South African tax framework.

7. Can you provide examples of client success stories or case studies?

Explanation: Real-world examples demonstrate the planner’s ability to apply strategies effectively and achieve positive outcomes for clients.

Reason to Ask: Client success stories provide insights into the planner’s track record and their capability to handle diverse financial scenarios.

8. How often will we review and adjust my financial plan?

Explanation: Regular reviews are crucial to ensure your financial plan adapts to changing circumstances and market conditions.

Reason to Ask: A clear review schedule indicates the planner’s commitment to keeping your plan dynamic and aligned with your evolving financial goals.

9. What is your investment philosophy, and how do you select investment options?

Explanation: Understanding the planner’s approach to investing helps you gauge compatibility with your risk tolerance and financial objectives.

Reason to Ask: Aligning investment philosophy ensures that your planner’s strategy resonates with your long-term financial goals and preferences.

10. How do you handle ethical considerations in financial planning?

Explanation: Ethical conduct is paramount in financial planning. A good planner should prioritize your best interests and disclose any potential conflicts.

Reason to Ask: Emphasizing ethics ensures a trustworthy relationship, where the planner prioritizes your financial well-being over other considerations.


In conclusion, selecting a financial planner in South Africa is a critical decision that requires careful consideration.

By asking these essential questions, you can make an informed decision, choosing a planner who aligns with your financial goals and values.

Building a strong and transparent relationship with your financial planner is key to achieving long-term financial success in the South African market.