Industry Interview – Wally Bodin

Having worked as a Financial Adviser for 24 years, Wally is passionate about ensuring his clients have the right cover in place. We asked him about the importance of Income Protection and what he believes is the secret to his success.

1. Who do you work for and where are you based?
I have my own brokerage, Elite Financial Planning, based in Durban.

2. Do you tell your clients that Income Protection is an ‘essential’ insurance?
I tell them that it is an important insurance to have in place. If they don’t have it and they fall ill or are injured and can’t work, they will battle for cash flow. Replacing your income isn’t easy but it also isn’t the first thing that people think about when they take out insurance. So, when I do a FNA with a new client, I include income protection as part of my proposal for full cover.

3. Why do you recommend FMI products to your clients?
I’ve worked with FMI for a while and I like the products. They offer good benefits and I particularly like the simplicity.

4. Do you have Income Protection? Why?
Yes. It’s important to have income protection, especially if you are self-employed. I learnt that the hard way many years ago when I had to claim after being booked off work after a bad cycling accident. FMI offers a good product. I wouldn’t market it to my clients if I didn’t believe in it myself.

5. What does it take to be a successful Financial Adviser?
Being honest and ethical with your clients. I place a high value on trust. It’s also important to love what you do. I love this job because it is rewarding, especially when it comes to successful claims. When I see how a claim can really help a client in need, it leaves me with a sense of achievement and having served my client well.