| The choice of a financial advisor |
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Over the years our clients brought us magazine and newspaper clippings that were published by one Nico van Gijsen. Usually we simply shake our heads in unbelief at the half-truths and bad insight the writer sometimes reveals. His contribution regarding divorce as published in the Rapport of 17th May 2009, deserves comment. His advise to his clients facing divorce is to "speak to their financial advisor first", "stand waiting in cues in front of his door" and that a financial advisor is in a better position than a lawyer or advocate to "give advice to a client regarding his/her options". His comments point to either an underestimation of the law concerning divorce, or an overestimation of his own abilities. In previous articles it seems that he deems himself better equipped than lawyers to advise people in matters of estates, trusts and other areas of the law. While not knowing van Gijsen's qualifications or background, we do know that lawyers specialize in the areas of the law in which van Gijsen represents himself as knowledgeable. This characteristic is the single biggest danger that clients should be warned about, namely a financial advisor presenting himself as an authority in all manners, not admitting to his own limitations. One gets good and bad lawyers and advocates. The same applies for financial advisers. Each profession has a role to play and there is room for the knowledge and skills each possesses. Professional people from different occupations often need to work together on transactions to the best interest of their clients. The person who is a know-all and doesn't know his own abilities and limitations is extremely dangerous, especially if he uses newspapers and magazines as a platform to hide behind. Even lawyers, advocates and accountants can't give authoritive advise on each area of the law. Therefore it is good advice to make use of people in practices that have the opportunity to specialise in a specific area of their discipline |