Financial Planning FAQs
Common Questions Answered
Our Financial Advisor is a Certified Financial Planner® with over 2 decades of experience in the industry.
The cost of a financial planner in South Africa typically includes two components: upfront fees and ongoing fees.
Ongoing Fees:
Most financial planners charge an ongoing fee based on a percentage of the assets they manage on your behalf, known as Assets Under Management (AuM). By law, this fee can be up to 1.5% per year (before VAT), but the industry average tends to be around 1% per year.
Upfront Fees:
Some financial planners may also charge an upfront fee to create a comprehensive financial, retirement, or estate plan. This fee can range between R30,000 and R50,000, depending on the complexity of your financial situation.
Discounted Fees:
In certain cases, planners who charge an upfront fee may reduce their ongoing management fee to 0.5% per year, offering a lower rate in exchange for the initial cost of creating the plan.
This fee structure allows flexibility based on the services required and the assets being managed, ensuring you receive tailored financial advice.
The fee will differ according to the service provided.
We are professionals and provide valuable financial advice and experience to help you plan for yourself and your family’s future. We cater for your retirement, investments, health care, life and disability cover requirements, as well as Employee Benefits for companies.
Do you get free advice and assistance from a doctor, a lawyer an accountant?
Our advice constitutes our intellectual property and, as such, has a value attached. In a nutshell, we guide our clients and keep them specifically informed on their portfolios and policies and generally informed about changes in legislation or products.
We operate in a highly regulated industry, and new legislation is reducing the payment of commission considerably because the purpose of meeting with potential and current clients should not be to sell a policy or switch a policy, but to actually address the needs of the client on a long-term basis.
Paying a service fee ensures continued servicing of clients and doing detailed needs and financial analysis when required. Selling a policy is not our primary objective.
No charge for an enquiry. We welcome them as we believe it will start a process which is to your benefit.
We are not looking for clients in any specific category, age or income band. Our services are applicable to anyone. The solutions and products can be tailored to the individual.
What is important is to actually find out what you should have and then to take action. In life, there is no such thing as the perfect time.
No, it will not, because you need to remember we guide you and help you select appropriate products to suit you. There is so much information out there, and do you really have the time to go through it all?