{"id":4497,"date":"2022-01-10T08:30:38","date_gmt":"2022-01-10T06:30:38","guid":{"rendered":"http:\/\/contattoblogs.timslatter.co.za\/?p=4497"},"modified":"2022-01-10T08:30:38","modified_gmt":"2022-01-10T06:30:38","slug":"ask-yourself-these-questions-before-switching-funds","status":"publish","type":"post","link":"https:\/\/zcp.co.za\/main\/ask-yourself-these-questions-before-switching-funds\/","title":{"rendered":"Ask yourself these questions BEFORE switching funds"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As financial planning conversations deepen and explore more value, we find ourselves moving from the empirical to the emotional, from processes to perceptions and from products to people. It\u2019s an enlightening journey that takes us away from numbers and allows us to reflect and reconstruct our future planning approach.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">But, it\u2019s also extremely challenging as we find questions we can\u2019t easily answer; but, that\u2019s still healthier than having answers we can\u2019t question! This point of reflection helps us form questions that enable us to navigate the flow and rate of change around us. The questions empower us to see choices more clearly and engage with our life and financial plan in a significant and impactful way.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">But, before we make any changes to our investment portfolio, there are some helpful questions to ask. A recent article from fbfs.com offered several questions; here are some of them.<\/span><\/p>\n<p style=\"text-align: justify;\"><b>Am I working with a financial adviser I can trust?<\/b><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In the same way, our personal and professional relationships depend on strong bonds of trust; our relationship with our money needs the same foundation. And, this begins by working with a financial adviser we can trust.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">We all have blind spots (which is why financial advisers ALSO NEED financial advisers for their personal portfolios!), so it\u2019s not just about working with someone our bank recommended; it\u2019s about working with someone who we know, like, and trust.<\/span><\/p>\n<p style=\"text-align: justify;\"><b>How have my circumstances changed?<\/b><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Some life changes are apparent, and we don\u2019t need someone to help us spot them, but other life changes are slow and gradual. When we\u2019ve been working with a trusted financial adviser, they can help us track and identify the gradual changes that will impact how we invest and plan for the future. Not all life changes require a shift in funds, but some might. This is how we build an investment strategy that consistently reflects what is important to us.<\/span><\/p>\n<p style=\"text-align: justify;\"><b>Has there been a change in my risk tolerance?<\/b><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Various factors influence risk tolerance, but one of the most significant is our investment horizon. Ask yourself: \u201cHas my financial timeline changed?\u201d For example, if you\u2019ve decided to move your financial independence (retirement) date, this might change your investment strategy. Your financial situation or a change in your risk preferences could also trigger tweaks to your investment portfolio.<\/span><\/p>\n<p style=\"text-align: justify;\"><b>Are any of my funds underperforming?<\/b><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">This is probably the question we ask ourselves most\u2026 but it\u2019s also one of the most detrimental if not answered correctly. A bad week, month or even year may not be a valid cause for concern for long-term investment strategies. However, consistent poor performance over several years may yield a legitimate concern and reason to reflect on your fund selection. But, even so, it still needs to be taken in the context of the entire portfolio and the outcomes for which we\u2019d hoped.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">No matter how much we plan and how meticulous we might be, things generally never go directly according to plan. So there will always be reasons to feel like we need to switch funds; some will be valid, others won\u2019t be. Hopefully, this blog helps you prepare for your next financial planning conversation!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As financial planning conversations deepen and explore more value, we find ourselves moving from the empirical to the emotional, from processes to perceptions and from products to people. It\u2019s an enlightening journey that takes us away from numbers and allows us to reflect and reconstruct our future planning approach. But, it\u2019s also extremely challenging as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4498,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,28],"tags":[],"class_list":{"0":"post-4497","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-blog","8":"category-market","10":"post-with-thumbnail","11":"post-with-thumbnail-large"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ask yourself these questions BEFORE switching funds - ZC PRETORIUS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zcp.co.za\/main\/ask-yourself-these-questions-before-switching-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ask yourself these questions BEFORE switching funds - ZC PRETORIUS\" \/>\n<meta property=\"og:description\" content=\"As financial planning conversations deepen and explore more value, we find ourselves moving from the empirical to the emotional, from processes to perceptions and from products to people. 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