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Estate plans and advice – financial doctors prescribe regular checks

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When discussing the value of the financial profession, financial advisers are often compared to medical doctors and are sometimes even called ‘financial doctors’. The reason behind this is that financial advisers look after the financial challenges of clients in much the same way that doctors look after the health issues of patients. This is not a perfect analogy, but there are certainly some comparisons to be drawn.

Why business owners should work with IFAs

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In today’s complex financial landscape, business owners need more than just insurance policies. Business owners need the comprehensive, unbiased advice that can only come from an Independent Financial Adviser (IFA) to create a holistic financial plan. It is important to understand the distinction between a ‘tied agent’ and an IFA.

Why an estate plan & a financial plan need to co-exist

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When we think about estate planning, we think of a plan outlining a tax-efficient way to deal with our assets when we pass away. Instead of viewing this as a ‘death plan’, try to think of it as a ‘life plan’ – a strategy created during your lifetime to ensure that your wishes are fulfilled, and that your loved ones benefit as intended after you pass away.

The importance of redefining private banking

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For too long, private banking has been stuck in an outdated transactional mindset, focused solely on expediting daily banking needs for wealthy clients. True private banking needs go far beyond mere transactional prioritisation and convenience; it requires an understanding of the powerful emotions tied to an individual's finances and life goals and a fundamental shift towards a model that provides comprehensive value-adding advisory solutions.

Pension funds & emigration – tax impact

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Investing in an offshore retirement fund is one way of growing your wealth in a stable economy over the longer term, or even gaining residency in a foreign country. However, for South Africans, this scenario presents as many challenges as it does opportunities and should only be considered after consulting with a financial adviser and tax expert.

Tap into tax benefits this February

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If you’re saving for your retirement, both retirement annuities (RAs) and tax-free investments (TFIs) are good investment choices. But which one offers the best tax benefits? The answer depends on your investment goals and unique circumstances. While there are tax benefits associated with both RAs and TFIs, the benefits are structured differently, and the product rules and restrictions are quite distinct.

Trusts, far from obsolete

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Locally, as trust compliance becomes more complex and trusts become more costly to administer, their value is increasingly being questioned. However, a trust’s worth extends beyond its financial benefits, and as such, they are still very relevant tools to use in a well-crafted estate plan, especially for high-net-worth families. 

Why a will & estate planning go hand in hand

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According to recent research from the Master of the High Court of South Africa, it’s estimated that 15% of South Africans who die have a will in place, which means that five out of six don’t. If you die without a will, your estate will be intestate. This can be a long and drawn-out process, and the assets from your estate will not be in line with what you wanted.

What to consider when choosing the right financial planner

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As we journey through life – from our first jobs to marriage and children, retirement and planning your estate – it is essential to have a certified financial planner. They can guide us through every stage in life, helping us to save enough and leave a legacy for our loved ones.

Everything you need to know about winding up an estate

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The passing of a loved one is always a traumatic experience. Not being prepared for the financial realities can add more anxiety to an already painful and stressful time in your family’s life. According to Statistics South Africa, more than 70% of South Africans don’t have a last will and testament. I suggest that you get your estate plans in order as soon as possible. You never quite know when your time is up.

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