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Success was always the plan – life and legacy with Ivan Daniel

ARTICLE BY

  • Momentum

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We recently spoke to Consult by Momentum Financial Planner Ivan Daniel, getting an in-depth look into the professional philosophy, client experiences, and personal values that have resulted in this seasoned financial adviser being a well-respected and sought-after planner with an established reputation as a retirement specialist.

    1. The obvious first question is, how do you define success, Ivan?I mean to me, is it is that I am no longer where I was. It’s about continually growing, keeping moving towards a defined goal and not losing steam towards an outcome. Practically – my desired goal is to have a bond free property and to make sure my properties (and investments) are secure. And to make sure that both my daughters qualify in their careers and achieve. You know, I just want them to achieve.When sitting with clients you’re not trying to have a perfectly outlined PLAN; you’re trying to get the kids through university, you’re trying to have a home that is forever yours and thousands of other personal aspirations. That is the kind of stuff I am looking at.
    2. What is the most important or unusual conversation you have had with a client?
      I had a chance to sit down with a police detective, close to his retirement age. He’d served and worked hard throughout his career, so I was happy to come up with a solid plan for his retirement. I remember his wife always sat in at our meetings. And I told him that you know what? I can see that you’re not too happy living here. Because from what I hear, your wife is complaining. I took a highly family-orientated approach and listened attentively and honed in on a family wish. I told him about a new development in Ballito, connected him with the estate agent, helped him take the right steps and the way I planned his pension he now lives in that dream house in Ballito with his family.Because of that one relationship, listening carefully and the excellent service and of course going above and beyond financial planning, he referred me to his colleagues, and I have to this day, enjoyed excellent referrals. I’ve found a niche of people that that trust me and come to me. Word spread and I’m known as a retirement specialist in the police circles. And teachers and educators too. The word is out there that if you’re planning retirement, you’re planning pension. Ivan is your man, you know, because not only did he help me plan my pension and tailor make it to my needs he improved my lifestyle. That element of trust is 110%.
    3. You mentioned including your client’s wife in your meetings – how important do you think it is, having a family-orientated approach to financial planning?Whenever I start speaking to a client, I just don’t talk to them, I try to get the family involved because I also try to gauge what type client that I’m dealing with, their decision-making process or if they prefer to handle things solo. For about 70-80% of my clients who are couples, if I were to ask them how much is in their bank account, they’ll say check with Mrs. So now I see women as the in-house financial planners.Legacy or leaving something of value to your family after you are gone is important. A father would want his children to be better than him. If you leave them with debt they are never going to fly. That is the emphasis I put on good financial planning. You know we also have to prioritise looking after our parents.Once upon a time they took care of me, you know. And today it is my duty as a son to make sure that they are well taken care of over and above me taking care of my family. It is part of my budget to help with their medical aid or a home carer.I also enjoy the financial security of being able to be the family hub. Family point their GPSs straight to Ivan’s house, you know, and family is welcomed at any time. That too for me is success.
    4. If you want to advise people to modify one behaviour or give up one thing to achieve financial success, what would it be?To buy into what appreciates and not into what he appreciates. Think of a car, as soon as you drive it off the lot, it’s worth half, it depreciates.Talking about the worst investment I’ve ever made, and what did I learn from it. I bought a brand-new, shiny Mercedes at the age of 32. It was new, it was a dream of the sunroof and all funny, funny things directly from Mercedes. At the time you think you’ve made it – you’re there. But the lesson that I’ve learned is vehicles depreciate whilst property appreciates.
    5. What is the strangest or most challenging professional question you have ever been asked?Sometimes clients want you to do business with no commission. They want you to 100% forego your commission and make the sacrifice for future goodwill. You can make that choice, but I want to emphasise that you’re worth your commission and we want to always emphasise the professionalism. You’d never go to a doctor and say can you please operate on me for free or haggle for a discount. Your expertise can’t be discounted, and people shouldn’t try and undercut your value.
    6. One last question, if money wasn’t an issue, what would you buy?If money wasn’t an issue, I’d buy a jet-ski, because we love the water and my daughters are water freaks. And another property. An appreciating, investment property!

Momentum Intermediary Development ProgrammesIvan has successfully participated in the Momentum Intermediary Programme that focusses on improving access to market. He was given marketing support to generate strong leads and convert clients. His hard work and dedication have reaped benefits, including improved revenue and commission, increase in client numbers and a steady stream of client referrals. The Momentum Intermediary Development programmes support advisers personally and professionally. For more information on the programme contact: fiona.ally@mmltd.co.za

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