FPI Convention Feature Editorial

Back to the Future – It is time to shape your own 

Lelané Bezuidenhout, CFP®, CEO of the FPI, welcomed participants to the 2023 FPI Professional’s Convention with the theme “BACK TO THE FUTURE”  

The convention focused on People, Technology, and Practices, acknowledging the transformative impact of the pandemic on the financial planning profession.  

Day 1 features Vusi Thembekwayo’s keynote on leading in volatile times, sessions on technology and regulatory compliance, insights from global financial planning standards, and discussions on the psychology of financial planning.  

Day 2 included sessions on cybersecurity, updates from the regulator, a message from the Financial Planner of the Year, social media strategies, and the grand finale with Brent Lindeque, The Good Things Guy, encouraging attendees to embrace the power of good news for a brighter future in South Africa. 

Please visit www.fpi.co.za for more information on this event. 

The Power of Technology for Financial Advisers 

Anton Swanepoel

“Transform Your Practice: Embrace Innovation to Navigate Regulatory Challenges! As regulatory burdens in the financial advisory landscape continue to escalate, it is time for FSPs (Financial Service Providers) to take charge and future-proof their businesses.” 

Here is your call to action: 

• Embrace Technology as Your Equaliser: Recognize the transformative power of technology in absorbing regulatory complexities. Leading financial planning and CRM (Customer Relationship Management) software companies are developing cutting-edge solutions to simplify processes, automate tasks, and enhance efficiency. Embrace these tools as your equaliser in the evolving regulatory landscape. 
• Prepare for the COFI (Conduct of Financial Institutions) Act: Stay ahead of the curve by preparing for the upcoming Conduct of Financial Institutions (COFI) Act. This significant regulatory shift will impact every aspect of FSP businesses. Leverage technology to seamlessly adapt to the changes, ensuring compliance without sacrificing productivity. 
• Invest Wisely in Innovation: Explore and invest in the latest innovations offered by financial planning and CRM software companies. Choose tools that not only meet current needs but also position your practice at the forefront of the profession. Efficiency and effectiveness are the keys to thriving in a dynamic regulatory environment. 
• Collaborate and Stay Informed: Engage with industry leaders, share insights, and stay informed about emerging technologies and regulatory updates. Collaborate with software companies to tailor solutions to your specific business needs. Your active involvement will contribute to shaping the future of regulatory compliance. 
• Act Now for Long-Term Viability: The time to act is now. Regulatory changes are inevitable, and technology is your best ally in navigating this evolving landscape. Delaying the adoption of innovative solutions may jeopardise your business’s long-term viability. 

“In the face of increasing administrative burdens, FSPs must view technology as a strategic ally rather than a mere tool. Seize the opportunity to transform challenges into competitive advantages.  

Your future success depends on your ability to adapt, innovate, and leverage technology to stay at the forefront of the financial advisory profession. 

Act now and position your practice for sustained growth and resilience.” 

A Futurist’s Insights on Technology and Adaptability 

Charlotte Kemp’s call to action:  

“Seize the Future: Embrace Technology and Elevate Your Advisory Practice! Charlotte Kemp, a seasoned futurist, highlighted the transformative power of technology and AI (Artificial Intelligence) in financial services. Learn how a ‘futures mindset’ can keep you ahead in this dynamic landscape.  

Adaptability is the key to success in the AI era, and embracing change is non-negotiable. Upgrade your skills, integrate technology wisely, and prioritise personalised human service. Join the movement towards future-proofing your advisory practice.  

Charlotte’s insights at the FPI Convention provided a roadmap for navigating the evolving financial landscape successfully. Do not just stay current—lead the way into the future!” 

Charting Excellence: Navigating the Evolution of Financial Planning 

 Kirsty Scully’s Call to Action: 

• Invest in Professional Recognition: Elevate your standing by embracing the FPI’s mission for professionalization. Gain postgraduate qualifications to be recognised as a certified financial planner (CFP), aligning yourself with esteemed professions like doctors and lawyers. Your expertise deserves recognition. 
• Navigate the Modern Financial Landscape: Embrace technology, and acknowledge the impact of AI, but remember—the personal touch you provide is irreplaceable. Financial professionals, leverage AI as a tool, but prioritise human relationships and personalised advice, ensuring the enduring strength of financial planning. 
• Stay Informed on Regulatory Changes: The financial services sector is ever-evolving. Stay ahead by understanding the regulatory landscape. Recognise the behind-the-scenes efforts of FPI in advocating for fair rules and regulations. Engage with FPI to ensure a conducive environment for financial planning in South Africa. 
• Master the Psychology of Financial Planning: Recognise the importance of psychology in effective advice. Understand clients’ emotional relationships with their finances and listen empathetically to their concerns. Embrace the holistic nature of financial planning—fundamentally about people. 
• Strive for Excellence and Recognition: Awards not only benefit individuals but elevate the entire profession. Consider pursuing prestigious awards to highlight your commitment to excellence. Use awards as a powerful marketing tool, contributing to the industry’s reputation for exceptional service. 

“Act now to transform challenges into opportunities and position yourself as a leader in this recognised and respected field. Your evolution starts here!” 

Empower South Africa’s Future: Navigate the Political Landscape 

As the nation approaches the pivotal 2024 elections, the complexities of South Africa’s political climate demand our attention. Mandy provided invaluable insights into government tensions, media accountability, and the emerging era of coalition politics. Here is how you can take action: 

• Stay Informed and Discerning: Understand the nuanced dynamics within the government. Recognise the divide between those committed to the nation’s success and those prioritising personal gain. Navigate the complexities with a discerning eye, separating challenges from opportunities. 
• Promote Media Accountability: Acknowledge the pivotal role of the media in holding power accountable. Support investigative journalism as a crucial tool for transparency. Advocate for a balanced narrative by celebrating positive stories of those working towards positive change. 
• Participate in the Electoral Process: Recognise the power of your vote in shaping the political landscape. As South Africa heads into an era of coalition politics, citizen engagement is crucial. Guard against apathy, and actively participate in the 2024 elections to contribute to a better future. 
• Spread Awareness: Share insights within your community and network. Encourage discussions on the challenges and opportunities facing South Africa. Foster a collective understanding of the political landscape and the potential for positive change. 

“As financial advisers, your influence extends beyond finances. Empower your clients to be informed and engaged citizens. Together, let us contribute to a brighter, more prosperous nation. The future of South Africa is in your hands—act now!” 

Shape Our Nation’s Narrative: Embrace the Power of Positivity! 

Brent Lindeque’s Call to Action for South Africans: 

” In the face of challenges, we often forget the countless stories of resilience, compassion, and hope that define our country. It is time to actively change the narrative and focus on the positive aspects that coexist with our challenges” 

• Seek and Share Positive Stories: Actively seek out stories that highlight goodness, resilience, and progress in our society. Share these stories with your network and on social media. By amplifying positivity, you contribute to a more balanced and uplifting narrative. 
• Celebrate Acts of Kindness: Acknowledge and celebrate acts of kindness, no matter how small. These moments of positivity have the power to transform lives and inspire others. Share these acts of kindness to uplift spirits and promote a sense of community. 
• Challenge Negative Stereotypes: Be conscious of negative stereotypes and narratives. Challenge them by actively promoting stories that defy these stereotypes. By doing so, you contribute to reshaping perceptions and fostering a more inclusive society. 
• Acknowledge Challenges with Hope: While acknowledging the challenges our nation faces, hold onto the hope that change is possible. Recognise the individuals and organisations making a positive impact. By balancing awareness of challenges with hope, you contribute to a more optimistic narrative. 
• Be a Helper: In the spirit of Mr. Rogers’ wisdom, actively be a helper in your community. Contribute to positive change, volunteer, and support initiatives that uplift others. By being a force for good, you embody the change you want to see. 
• Commit to Change: Commit to actively changing the narrative. Make a conscious effort to focus on the good things, no matter how small, and share them with others. Your commitment contributes to a collective effort to create a more inclusive, compassionate, and hopeful South Africa. 

“Together, let us create a narrative that reflects the beauty and potential of our nation. By embracing positivity and actively shaping our collective story, we can inspire others to believe in positive action, recognise the helpers among us, and contribute to the change we envision. 

It starts with each one of us, one story at a time. Together, we can build a brighter, more hopeful South Africa.” 

FPI Awards Evening 

Lara Warburton, CFP®, received top honours as the Financial Planner of the Year at the Financial Planning Institute of Southern Africa’s (FPI) 2023 Gala Awards.  

The event, held at the Sandton Convention Centre in Johannesburg, celebrated excellence in the financial planning industry. Lara stood out after a rigorous evaluation process, including a detailed financial plan submission, FPI Code of Ethics audit, and a final interview on legislation, industry trends, and technical expertise. Other notable awardees included: 

• Crue Invest for FPI Approved Professional Practice of the Year 
• Olwethu Masanabo, CFP®, for the Diversity and Inclusion Award 
• Kim Potgieter, CFP®, for the It Starts with Me Award 
• Stephan Lombaard received the Top Candidate Award 
• Robert Macdonald, CFP®, was honoured with the Harry Brews Award for dedicated service. 

The evening marked FPI’s 25 years of CFP certification in South Africa, celebrated with the FPSB (Financial Planning Standards Board) 25-Year Award presented by Dante de Gori, CEO of the FPSB.