A first for holistic financial planning

Jacques Rossouw, Managing Director of Astute and Regard Budler, Head of Product Solutions at Momentum Corporate.

Many South African consumers have not yet embraced the idea of holistic financial planning. They tend to avoid paying for financial advice and end up with a suite of financial products that do not match their long term needs and goals. Due to their lack of knowledge in financial planning they are not aware of the implications of failing to ensure that all the elements of a financial plan tie in together. The impact of failing to structure financial affairs properly can be significant, for example many South Africans cannot afford to retire or are grossly under insured. This is why holistic financial planning is important.

Financial planning is inherently a very private matter, and the thought of exposing ones private financial affairs to a complete stranger is daunting. However, having a long-term relationship with a professional financial adviser who will offer appropriate advice throughout your lifetime is paramount to reaching ones financial goals.

Many financial advisers structure their practices in such a way to only focus on one aspect of financial planning, such as managing investments or building a health or short term insurance business opposed to being a holistic financial planning business which takes care of their clients’ holistic financial needs.

Although a financial adviser would need the appropriate licenses, the use of technology over the years has made it easier for them to offer their clients holistic financial advice as their clients’ information has been readily available through online platforms. However, no financial plan is completely holistic without taking a client’s group benefits into account.

It is for this reason that Momentum Corporate has partnered with Astute Financial Services Exchange to introduce the first ever Employee Benefit Switch in South Africa. From 15 March, financial advisers will be able to access their clients’ financial information including their Momentum Corporate employee benefits on Astute Online.

Regard Budler, Head of Product Solutions at Momentum Corporate

Regard Budler, Head of Product Solutions at Momentum Corporate says, “We are proud to be at the forefront of the technology evolution in the employee benefits industry, that will help financial advisers to service their clients’ needs holistically, by taking into account their retail and group benefits when offering their best-of-advice solutions.”

Jacques Rossouw, Managing Director of Astute says, “As part of our commitment to empower the Financial Services Industry, we are pleased to introduce the addition of group employee benefits information on our platform.”

Astute is compliant with The Protection of Personal Information Act and just like retail clients, members of group schemes will have to mandate their financial adviser to access their information via the platform.

“This innovation is testament to our commitment to partner with financial advisers and to provide them with the opportunity to grow their practices in both the retail and group benefits income streams. For example, in cases where a member’s group scheme benefits are restricted by their employer’s scheme structure, the shortfall can be supplemented with individual retail solutions to ensure that the client’s needs are met,” concludes Budler.

A holistic financial plan is vital in incorporating multiple financial strategies to allow clients to live their best lives while knowing that future uncertainties are taken care of.



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