Tony van Niekerk | COVER
As the fiduciary sector in South Africa continues to evolve, few individuals have played a more central role in its transformation than Louis van Vuren, outgoing CEO of the Fiduciary Institute of South Africa (FISA).
In a candid discussion ahead of the organisation’s annual conference, Louis shared reflections on his tenure, updates on critical regulatory developments, and what lies ahead for fiduciary professionals.
A leadership chapter closing – After more than a decade at the helm of FISA, Louis confirmed he will be stepping down from his role later this year. The FISA Council has already begun the process of appointing a new CEO. “I informed the Council late last year,” he explained. “We are now at the point of making an offer to a successor, which we hope will be accepted shortly.”
Under Louis’ leadership, FISA has become a key voice in professionalising fiduciary services in South Africa, a space once seen as fragmented and lightly regulated. His legacy includes expanded industry collaboration, stronger standards, and relentless advocacy on behalf of practitioners and clients alike.
Reviving the Master’s Office Task Group – Among the current priorities, FISA has helped revive the Master’s Office Task Group. Originally formed in 2020, the group had a stop-start trajectory but is now regaining momentum with the assistance of Advocate Kalayvani Pillay, who was appointed Acting Chief Master in March 2025.
Have you registered for the FISA conference yet?
The FISA Conference, now in its 15th year, is an annual prestige event which is usually accredited by the FPI for CPD purposes. It will be on 10 September at the Sandton Convention Centre.
“We’ve resumed regular meetings with the Acting Chief Master every two months,” Louis said. “These sessions give us a platform to raise matters of concern in the fiduciary sector and to collaboratively seek solutions to service delivery issues in the Master’s Offices nationwide.”
Legislative reform – Trust compliance in the spotlight – FISA continues to engage National Treasury and policymakers on the complexities of the beneficial ownership register for trusts, a new requirement stemming from amendments to the Trust Property Control Act. While the register is intended to support anti-money laundering efforts, FISA has raised concerns about its practical implementation.
“All the compliance responsibility is placed on trustees,” Louis explained, “but there’s no legal obligation for parties to supply the necessary information to the trustee. That’s a huge gap, and trustees face penalties even if they can’t get the data.”
FISA’s submissions aim to bring more fairness and feasibility to this process while upholding transparency and accountability.
The push for Enduring Powers of Attorney – Another long-standing issue on Louis’ agenda is the absence of a legal framework for Enduring Powers of Attorney in South Africa. Currently, any power of attorney becomes invalid once the person who grants the power loses mental capacity, a growing concern given South Africa’s ageing population and rising dementia diagnoses.
“Other jurisdictions like England and Wales have formal mechanisms like Lasting Powers of Attorney,” Louis noted. “We have nothing of the sort here. That leaves families to navigate costly, time-consuming and complex alternatives like applying to the High Court for the appointment of a curator, or approaching the Master of the High Court to appoint an administrator under the Mental Health Care Act, which involves the state in deeply personal matters.”
FISA continues to advocate for reform that would allow individuals the freedom to formally appoint an agent to manage their affairs after mental incapacity, preserving autonomy and reducing the burden on courts and families.
Mixed progress at the Master’s Offices – While some Master’s Offices around the country have shown improvement, others still face serious challenges, particularly in Cape Town and Pretoria. Louis praised several offices, including those in the Eastern Cape, Durban, and Bloemfontein, for generally operating effectively.
“In Johannesburg, the situation has improved, but they now face infrastructure issues like power outages without backup systems,” he said. “Meanwhile, Pretoria and Cape Town remains extremely difficult to engage with, especially for routine matters like issuing letters of authority after changes to trust deeds.”
Staff shortages and dysfunctional IT systems, particularly those requiring integration with the Department of Home Affairs, remain persistent obstacles to service delivery.
A Milestone conference for the sector – Amid these ongoing developments, FISA is preparing for its 15th Annual Conference, set to take place on 10 September 2025 at the Sandton Convention Centre. The hybrid event is expected to draw 200–250 in-person attendees and up to 200 more online.
This year’s theme, “Fiduciary opportunities in a changing world,“ will explore how global dynamics and local reforms are reshaping the fiduciary landscape.
Key speakers include:
- Professor Abel Esterhuyse, Military Science Department, Stellenbosch University, delivering the keynote on global risks and opportunities
- Experts discussing cross-border trust distributions, mental health and curatorship, and compliance as a driver of professionalisation
- A regulatory update from the Office of the Chief Master (pending confirmation)
Louis expressed excitement about the growing professionalism within the sector. “Trusteeship used to be a free-for-all. Now, with rising compliance demands, there’s a clear case for skilled, professional trustees who understand the legal and ethical responsibilities involved.”
As Louis prepares to pass the baton, his vision for FISA remains rooted in progress through professionalism, collaboration, and accountability. “It’s been an honour to help raise the bar for fiduciary services in South Africa,” he reflected. “There’s still much work to be done, but the foundation is strong.”
For those interested in the future of fiduciary practice, the 2025 FISA Conference offers a critical opportunity to engage with leaders, share insights, and shape the road ahead.
For more information visit www.fisa.net.za