Real-time planning tool gives meaning to integrated wealth planning

According to the EY Future Consumer Index, 42% of respondents believe that the way they purchase goods and services will fundamentally change as a result of the COVID-19 pandemic. The report revealed that 34% of consumers would be prepared to pay more for local products, 25% more for trusted brands and 23% for ethical products.

Ferdi Booysen, Head of Client Solutions at Old Mutual Wealth

Old Mutual, which turned 175 this year, understands the importance of building shared trust and creating shared value for all stakeholders. “We value nothing more highly than the long-standing relationships we’ve built up in the financial adviser community. And our reputation in the industry is testament to our commitment in helping our partners run successful financial planning practices,” says Ferdi Booysen, Head of Client Solutions at Old Mutual Wealth.

He adds that the Wealth Integrator, Old Mutual Wealth’s flagship financial planning tool, will give accredited advisers a clear competitive advantage as consumer preferences change.  “Old Mutual Wealth’s entire proposition is summarised in our Integrated Wealth Planning philosophy, which centres on co-creating a financial plan alongside clients that enables them to achieve their lifestyle goals. Our proven wealth management methodology is focused on four distinct considerations that allow financial planners to develop a clear plan that enhances their clients’ financial well-being.”

Booysen explains: “We start with understanding the client’s current financial position and then determining their dreams and aspirations, and what quantum of assets are needed to achieve that. With this goal in mind, we then calculate the returns required to attain their desired lifestyle, and finally consider how long they’ll be able to sustain their lifestyle. The power of the planning tool is that it’s scalable and applicable to all clients, whether they have R100,000 or R100 million to invest.”

Booysen adds that the Old Mutual Wealth Integrator allows advisers to co-create, in real-time, a wealth plan that incorporates these four considerations.

“The ultimate role for any financial planner is to help their clients grasp the relationship between these four numbers and how they impact their overall financial plan. With the Wealth Integrator tool, we can calculate any one of these four numbers, if we have the other three.

“A good financial plan is one that takes into consideration all four factors as they apply, uniquely, to every person. With the tool, a client can now look at all the variables, in a level-headed, unemotional way, to fully understand the implications of their financial decisions.”

This has benefits beyond empowering clients to co-create their financial plan, rather than being dictated to by an adviser. Key among these is that the Wealth Integrator tool demonstrates that the advisor has discharged his/her fiduciary responsibilities by offering prudent, impartial advice.

The challenge, of course, is to translate this holistic financial planning theory into a practical, useful, financial plan.

“The ability to plug different variables into the Wealth Integrator tool gives advisers and their clients unprecedented insight into how decisions today will influence outcomes in the future. We believe this is a powerful aid in guiding clients in making the right decisions. Which, in turn, means that our advisers will be able to maintain stronger, and rewarding relationships with their clients.”

Old Mutual Wealth is an advice-led wealth management business, aimed at providing financial planners and their clients with a full suite of industry-leading strategies and services. For more information please visit our website: https://www.oldmutual.co.za/wealth



Latest


21 Sep 2020
Women are lagging in retirement savings and are debilitated by stress

In a recent study of their client base, Momentum Corporate revealed that almost half (41%) of the employees on the…

Women are lagging in retirement savings and are debilitated by stress

In a recent study of their client base, Momentum Corporate revealed that almost half (41%) of the employees on the FundsAtWork Umbrella Funds are women. With an almost 50/50 gender split across the client base, a one-size-fits-all approach to advice on employee benefits simply won’t cut it. This is according…

15 Sep 2020
Despite COVID-19, SA investors expect higher future returns

Even as COVID-19 halted the longest economic expansion on record and plunged the world into deep recession, South African investors…

Despite COVID-19, SA investors expect higher future returns

Even as COVID-19 halted the longest economic expansion on record and plunged the world into deep recession, South African investors expect to make an average annual total return of 12.67% – almost 2% higher than the global average predicted returns of 10.9%. This was revealed in the recently released Schroders’…

15 Sep 2020
Are cryptocurrencies here to stay?

The recent news that cryptocurrency giant, Digital Currency Group, has acquired cryptocurrency exchange company, Luno, has once again highlighted the…

Are cryptocurrencies here to stay?

The recent news that cryptocurrency giant, Digital Currency Group, has acquired cryptocurrency exchange company, Luno, has once again highlighted the rise of cryptocurrencies as a possible alternative to the current global financial system. According to Old Mutual Investment Group Director of Investments, Hywel George, Bitcoin, as well as a number…

10 Sep 2020
How too much choice is draining your brain

By: Paul Nixon, head of technical marketing and behavioural finance at Momentum Investments From the words of Francis Scott Key…

How too much choice is draining your brain

By: Paul Nixon, head of technical marketing and behavioural finance at Momentum Investments From the words of Francis Scott Key that dubbed America “The land of the free”, which stuck, to the unforgettable Mel Gibson monologue where an army of painted Scots were willing to trade their lives for the…


Top stories


10 Apr 2020
When the going gets tough, farmers are on familiar territory

South African farmers are old hands at adapting to uncertain and daunting circumstances, and our local agricultural industry has proved…

When the going gets tough, farmers are on familiar territory

South African farmers are old hands at adapting to uncertain and daunting circumstances, and our local agricultural industry has proved to be most enterprising in acclimatising to challenges as they arise.

13 Apr 2020
Investors should keep a reasonable investment allocation outside of SA

MoneyMarketing asked Roland Gräbe, the head of Tailored Fund Portfolios at Old Mutual Wealth, about offshore investments in the COVID-19…

Investors should keep a reasonable investment allocation outside of SA

MoneyMarketing asked Roland Gräbe, the head of Tailored Fund Portfolios at Old Mutual Wealth, about offshore investments in the COVID-19 environment and what form a global market recovery will take.

13 Apr 2020
SA’s Proposed Covid-19 Disaster Management Tax Relief

The National Treasury recently issued the draft Disaster Management Tax Relief Bill (Bill) for public comment by 15 April. The…

SA’s Proposed Covid-19 Disaster Management Tax Relief

The National Treasury recently issued the draft Disaster Management Tax Relief Bill (Bill) for public comment by 15 April. The draft Bill, together with its explanatory memorandum, provides clarity with regards the tax relief measures President Cyril Ramaphosa announced on 23 March.

11 Apr 2020
Finding investment opportunities among the many COVID-19 risks

With many countries around the world in lockdown as they try to contain the spread of the COVID-19 virus, the…

Finding investment opportunities among the many COVID-19 risks

With many countries around the world in lockdown as they try to contain the spread of the COVID-19 virus, the global economy is facing an unprecedented situation of balancing health against financial livelihoods.


Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za