In a country where 70% of households feel financially insecure, wealth advisers have a powerful role to play; not just in planning, but in building trust that can weather life’s uncertainties.
70% of South African households are financially unprepared to face a major life event be it retrenchment, a medical crisis, or an unexpected family responsibility (Old Mutual Savings & Investment Monitor, 2024). That statistic reveals why financial advice in South Africa needs to go far beyond markets and numbers.
For South Africans, money is rarely just about personal gain. It’s about family, responsibility, and legacy. Whether it’s helping a sibling pay university fees or stepping in when a parent loses their income, financial decisions often come with emotional and cultural weight. That’s why confidence, not just in the markets, but in the person giving the advice, matters more than ever.
Understanding the South African Investor
South African investors are financially savvy, but many are under immense pressure. Some are part of the so-called "sandwich generation", supporting both children and parents. Others face job insecurity, unstable income, or the constant financial demands of black tax, supporting extended family in the absence of state support.
Advisers in this space are not just offering investment strategies. They are offering support, adaptability, and a plan that can shift when life does. That’s what builds lasting trust.
So how do we fund confidence:
Staying flexible when life happens
What works today might not work next month. A solid investment plan in January might need adjusting by June if your client is retrenched or takes on new family obligations. That’s okay. What matters is staying close enough to their lives to pivot when needed.
Regular check-ins shouldn't just be about the numbers. They should start with, “Has anything changed at home?” or “Is there something new we should factor in?” Because when a plan feels personal, it feels possible.
Define the purpose, not just the plan
Clear goals help clients stay calm during the chaos. Whether it’s saving for a child’s education, buying property, or creating intergenerational wealth, a clear long-term purpose gives meaning to every short-term adjustment.
A setback doesn’t mean failure, it just means we’re taking a different route to the same destination.
Communicate with honesty and calm
Clients do not expect you to predict the future, but they do expect you to talk about it honestly. When income drops or responsibilities increase, be transparent about the impact and walk through their options in plain language. Those conversations, the tough ones, are where trust is either built or broken.
Lead with empathy
Black tax. Retrenchment. The dream of sending a child overseas. These are not line items on a spreadsheet. They are deeply human experiences. The best advisers acknowledge this reality with compassion, not judgment. You don’t need to fix everything. Just understanding and adapting to the situation is already powerful.
Show up, always
Small actions build big trust. A follow-up after a hard discussion. A call after a market dip. A note remembering a personal milestone. These moments show clients they’re not just another number, they’re seen, heard, and supported.
Supporting financial literacy
The more clients understand, the more confident they feel, especially in uncertain times. Take time to explain the basics: how inflation eats into returns, why diversification matters, or what it means to have a liquidity buffer. Empowered clients are calmer, clearer, and far more likely to stick to the plan.
Let tech support, not replace, the human touch
Yes, digital platforms are useful. They help track performance and simplify communication. But they are just tools. The real work happens in conversations, the ones where you listen more than you speak and truly get to know the person behind the portfolio. In the end, clients don’t want perfect portfolios. They want plans that feel human.
Plans that can adapt. Advice they can trust. A guide who stays with them, not just when things go well, but when everything changes. Because when the future is uncertain and let’s face it, it often is, what’s more valuable than confidence in the person helping you face it?
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