Marischa Griesel – Fiduciary Consultant at Wealth Associates Fiduciary Services
In an era marked by uncertainty and constant change, one thing remains clear: financial stability and legacy preservation require more than investment strategies alone. Enter fiduciary services, a specialised, often misunderstood field that plays a vital role in protecting family wealth and ensuring a seamless transfer of assets across generations.
As fiduciary consultants, we have observed how few people fully grasp the depth and significance of fiduciary services. This lack of awareness can result in unnecessary delays, legal complications, and in some cases, the erosion of hard-earned wealth.
What Are Fiduciary Services – Fiduciary services involve the planning, documentation, and execution of actions that affect the creation, growth, or protection of wealth for individuals and their families. These services are delivered under a strict obligation of good faith and in the best interests of beneficiaries.
Typical services include:
1. Estate planning
2. Will drafting tailored to individual circumstances
3. Deceased estate administration
4. Trust formation and administration
5. Independent trusteeship
6. Business succession planning
7. Company registrations
8. Drafting of basic legal agreements
Each fiduciary business offers a unique blend of services based on its expertise. However, the ultimate goal remains consistent: to ensure that wealth is transferred effectively, efficiently, and in a manner aligned with a client’s wishes and the law.
The Cost of Getting It Wrong – Without a proper fiduciary plan, families often face avoidable complications. Outdated wills, missing documents, or ambiguous intentions can delay estate finalisation for years. This not only causes emotional distress but may also lead to financial losses that could have been avoided with the right planning.
Conversely, a well-structured fiduciary plan ensures compliance with current legislation, unlocks strategic tax benefits, and protects assets. But this only works when guided by experienced professionals.
Why Professionals Matter – DIY solutions and generic online templates cannot match the insight and rigour provided by trained professionals. Fiduciary work demands a blend of legal, financial, and ethical expertise.
Qualified fiduciary providers include:
• Fiduciary practitioners registered with the Fiduciary Institute of Southern Africa (FISA)
• Attorneys specialising in estate and trust law
• Chartered accountants and tax experts
• Certified Financial Planners (CFPs®) with fiduciary training
• Specialist fiduciary companies and bank fiduciary departments
While financial planners help build wealth, fiduciary experts offer the complementary skillset needed to preserve and transfer that wealth responsibly.
The Growing Demand – Clients today expect more than just investment returns, they seek holistic financial solutions. This includes guidance on how to provide for dependents, structure their estates, and establish enduring legacies.
Professional bodies are increasingly emphasising an advisor’s fiduciary duty. Ignoring this aspect is no longer an option; it’s a vital component of comprehensive financial planning.
Why Fiduciary Services Matter – While many financial advisors are skilled at building and managing wealth, the complexities of fiduciary planning often demand a dedicated and specialised approach. Fiduciary services play a crucial role in bridging this gap, offering expertise in areas such as estate planning, succession strategies, and wealth preservation.
Professionals in the fiduciary field collaborate closely with financial advisors and clients to ensure that personal, family, and business interests are protected. The goal is not only to safeguard assets, but also to provide peace of mind by securing the future for loved ones and business partners, even in the absence of the original wealth creator.
Final Thoughts
Fiduciary services are no longer a luxury or an afterthought. They are essential. As the financial landscape continues to evolve, advisors must integrate fiduciary expertise into every financial plan. Clients deserve nothing less.
At its heart, fiduciary planning is about more than legal documents or tax efficiency, it’s about ensuring your loved ones are cared for, your wishes are respected, and your legacy lives on. By weaving fiduciary services into your financial plan, you bring your clients comfort, confidence, and clarity in life’s most challenging moments. It’s a thoughtful, enduring act of care that extends well beyond your lifetime. Comprehensive wealth and legacy planning must begin today.
Editor’s thoughts
Marischa Griesel beautifully explains what often goes unspoken, the emotional and financial impact of getting fiduciary planning wrong. Her article provides not only a clear breakdown of what fiduciary services entail, but also the very human reasons why they matter. It’s about legacy, peace of mind, and dignity in times of loss. As clients look for deeper, more meaningful advice, fiduciary services must be woven into the fabric of modern financial planning, not as an afterthought, but as a fundamental expression of care.