BUSINESS NEWS - Opening an investment account can be as quick and easy as a few clicks, and suddenly you can buy shares, pick a fund, or move your savings into something new. Access has never been simpler.

But managing your own money is not just about transactions. The real challenge is what happens after you’ve invested: when markets swing sharply, or when headlines fuel anxiety about interest rates or inflation. 

Technology has changed the mechanics, but it hasn’t changed human behaviour. And behaviour, more than the products themselves, is what makes or breaks long-term wealth.

This is where financial coaching comes in. Advisers add value by helping you stay invested when emotions push you to do the opposite. 

They are not there only to choose funds or fill in paperwork; their role is to stand between you and decisions that might feel right in the moment but prove costly over time.

The hidden cost of behaviour

Paul Nixon, who leads behavioural finance research at Momentum, has shown through years of data that investors often pay what he calls a “behavioural tax”. It’s the hidden cost of switching at the wrong time, like selling out when fear spikes, or buying in after everyone else has already pushed up the price. 

His studies show that investors who follow emotion instead of strategy consistently underperform those who simply stay the course. In many cases, the behavioural tax costs more than fees or market volatility ever could.

Think back to 2020 when markets plunged at the start of the pandemic. Many investors rushed to cash, convinced the downturn would last for years. 

Within months, markets rebounded sharply – but those who had already locked in their losses never caught the upswing. A coach in your corner during that moment might have reminded you that your goals hadn’t changed, that diversification was built for moments like this, and that patience was the best response.

That kind of guidance is the difference between panic and perspective.

Of course, staying invested doesn’t mean never changing. The point of coaching is not to hold you in place, but to ensure changes are made for the right reasons. Switching is sensible when it reflects your goals, your risk appetite, or real shifts in your life, like a new baby, an unexpected health challenge, or even a happy windfall from Aunt Buhle.

In these situations, reviewing your plan makes sense because your life has changed – not because headlines have.

Contrast that with switching for the wrong reasons: chasing last year’s top-performing fund, reacting to a neighbour’s hot tip, or moving money out of panic after a market dip. Those decisions don’t reflect your goals; they reflect your emotions. Without a clear philosophy and a coach to hold you to it, those moments can undo years of progress.

Why real money advice needs a human voice

DIY platforms and AI-driven tools can execute instructions flawlessly, but they can’t replace the human X factor. An algorithm can crunch numbers, but it cannot listen to you explain your fears about retiring early, or weigh up the subtle trade-offs between supporting an ageing parent and helping your children through university. 

A real adviser can. Their blend of philosophy, experience and empathy is what technology can’t replicate. It’s not about competing with AI or apps – it’s about complementing them with something uniquely human.

That difference becomes clear the moment you sit down with an adviser. The conversation doesn’t start with products; it starts with your world: your goals, your risks, your will, your taxes, your liquidity requirements. 

From there, the plan is built. And that plan is not filed away in a dust-gathering folder – it is revisited regularly, updated when your life changes, and reinforced when market swings make you wonder if you should move your money. 

That process is what turns advice into a partnership, not a transaction.

As markets grow noisier and products multiply, you need the clarity and guidance of real human advice, not stock replies from an AI chatbot. Your financial adviser helps you cut through the clutter, stay grounded, and make decisions that serve your future rather than your impulses.

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