It's your future and the question of :" Will I have enough to live?" is always the question that burdens the back of your mind . Then you get the phone call out of the blue like a prayer was being answered.It's the financial advisor that calls you by your first name that you've never met and is setting up that appointment to discuss how they can save you money. The lead of this initial call is do you have a mortgage and how would you like to save money on what you are currently paying or not have to pay at all. You think wow this is perfect karma and take advantage of the appointment. Before you know it you've signed on the dotted line and are the proud owner of a new life insurance policy, critical illness insurance policy , a long term care insurance policy , disability policy and transferring your savings and RRSP ' s from already reputable investments because this telemarketer / Financial Advisor that is now in your home sitting at your table is the greatest thing since sliced bread and is going to take care of you. You brag to your friends that you have a financial Advisor taking care of your finances and that it's all bright roses in your future. You feel kinda privileged and associate yourself with the likes of successful financial investment families..... Ha! Ha!
Now the truth . Low and behold you just took advice and bought from a person whom 3 months ago wasn' t able to balance their own affairs let alone anyone else's. But they knew all the buzz words to capture your attention... always geared towards greed, guilt and fear that everybody else is doing it and you're getting left behind. The whirlwind doesn't stop . Now you get the regular calls similar to those Duct Cleaning solicitations and requests for referrals of friends ,family members, workers ... you get the idea.At first you're polite and want to be helpful then you realize after a while this plague is not going away and you question what have I gotten into. Don't get me wrong a good and professional Advisor with a proven history is worth their weight in gold ( at today's prices around 5 million ... LOL!) But those advisors are about 2 in 10 . Oh and guess what... They don't telemarket.
So caution before you open your door and your life to that financial Advisor that calls you out of the blue. Chance's are you'll be better off without their Financial Advice.
Sun Life Financial - Daniel Botha