Embrace Change Our journey to being future-fit. Financial Planner Commission Compliance Value Add What needs to change? Embrace Change Client Expectations.

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Presentation transcript:

Embrace Change Our journey to being future-fit

Financial Planner Commission Compliance Value Add What needs to change? Embrace Change Client Expectations

Job satisfaction Respected profession Relevant Why is change necessary? Are you learning as fast as the world is changing? Embrace Change Indispensible

Commission Commission is going Embrace Change After commission? Plan fee % Ongoing fees Rand based fees Hourly fee Implementation fee Salary Menu of services

Embrace Change Compliance It is all or nothing Regulatory exam Best practice TCF Conflict of interest Product category Exams

Embrace Change FSB Audit Dotting your I’s and crossing your T’s Details. Procedure. Process. Documents TIP: Put someone detail oriented in charge!

Embrace Change FSB Audit What worked for us... Specialists Business structure CAT Scan Enter competitions Educated Team Internal compliance officer Up to date documentation Close skills gap Electronic filing Know your client

ROI (Return On Investment) ROL (Return On Life) Life The money is the client The person is the client Embrace Change What is your value-add? Giving your clients the best life possible with the money they have

aSSE Asset management Tax planning Risk management Cash flow planning Estate planning Will planning Who is your client? Embrace Change An holistic financial plan is one based on the clients dreams and goals

House Goals Unit trusts Travel Health The role of the financial planner has changed? When building a puzzle where do you start? Provident fund Beach house Car Spouse Daughter Grandchild shares Embrace Change insurance

CEO CFO Stock broker LawyerAuditor Tax consultant Private banker Investment consultant Retirement fund consultant Healthcare consultant Embrace Change What is a financial planner? How do you position yourself?

Embrace Change Client expectations have changed! Clients want to connect Heart Head Gut

What’s in it for the client? Client-focused financial planning

Embrace Change Get ahead of the game! Change begins with you

Embrace Change Thank you