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How do you get into Financial Planning?

By Mzukona Mantshontsho

Financial Planning involves working with individuals or institutional clients to assess their financial needs and help them achieve financial goals, such as choosing investments (money market, real estate investments, stocks and bonds), and they also explain tax laws relevant to certain investments and help with insurance decisions.

Spoke to Wandile Kunene, Financial Advisor at Liberty Financial Planning Services about his job and the role he plays in people’s financial planning journeys.

Growing up just like any child I had various ideas of what I wanted to do when I grew up. Unfortunately, life had its own plans.

We wanted to be what our parents did because that’s what we were familiar with, and we looked up to our parents. School was designed to help us go through our daily lives and not what we wanted to do in our profession but yet it helped us to better understand what we want to do.

Richard Branson a multi billionaire who started selling music records in his parents’ garage, never finished school and now the owner of virgin and make it in through dedication and hard work. Knowing your skills at an early age. I have always wanted to have my business an early age, sold sweets and always thinking money in everything I see but life had its own plans and I found myself in the insurance industry which I had never thought of in my life. I realised how the insurance industry played an important role in our lives.

From life covers

Funeral covers

Car insurance

Household goods e.g., TV, radio and watches so that in the event of lose it would put you in the same position you were in before you lose.

  1. Mathematics how to calculate risk (older low risk/ younger high risk hence you find 21-year-old paying expensive car insurance)
  2. English how to communicate with clients
  3. History. Studies were we from as a country and the world. (Natural disasters went as many years as possible ago and premiums were low and now with time and charges in the world which led to higher premiums high risk)

This is an industry dominated by mostly white people. I am now working my way to becoming a broker and that would be the interesting part which is your salary.

In this industry you can earn not less than R20k to a R100k on commission a month depending on your client/client’s investment.

The government has pumped millions through a programme called Harambee in trying to educate, encourage young black girls and boys in becoming brokers.

From a sweets business to my own broker firm and with dedication and hard work it is possible. School is not to secure a job for you, it is there help you understand the principles of life but it’s your God given skills that secure you a job. Your love for music has made you become a Disc Jockey, producer and a singer with no background in the music industry.