Blue Chip 95

The evolution of

The evolution of afuture-fit professionLelané Bezuidenhout, CEO of the FPI, attests that the financial planning professionoperates at an intersection of trust and transformation. Consumers seek answers,stability and guidance. Regulators prioritise compliance and responsible conduct.Professionals strive for meaning, relevance and growth. Bezuidenhout adds that atthe core of financial planning is a duty of care – a responsibility that cannot be outsourced,delegated or diluted. While discussions about innovation often focus on technology, trueinnovation in financial planning encompasses leadership. It involves reimagining clientengagement, success measurement and the evolution of a future-fit profession (page 8).Research shows the greatest value that a financial planner adds is through behaviouralcoaching. On page 22, Rob Macdonald suggests that this approach doesn’t change thefundamental nature of the work of a financial planner, which is to help clients implementmoney decisions. However, he doesn’t believe that financial planners can help clients makesound money decisions without helping them make decisions about their life as well.Regardless of what the biases are or why they exist, a financial planner’s challenge is to helppeople avoid behavioural biases by putting together optimal portfolios, says Florbela Yates,MD, Equilibrium, in her column on page 16. This requires a deep understanding of financialdrivers, different asset classes, various investment styles, what risk means for different investorsand what triggers certain behaviours.Investing is a complex and unpredictable game, where emotions and biases can oftencloud judgement. By establishing a consistent process, investors can navigate the markets withgreater confidence and clarity (page 54). If your advice process has evolved over time withouta structured review, chances are it’s inconsistent and holding back your business growth. Turnto page 42 to find out how to map your advice process.AI has been in existence since the 1950s. The most recent iteration of AI relates to therationalisation and reasoning capabilities of the large language models (LLMs) that underpinChatGPT and Gemini (page 26). LLMs and Retrieval Augmented Generation (RAG) have beentaking the world by storm. This storm is not going to leave the world of financial adviceunscathed. In fact, it is going to fundamentally change the way advice is given. RAG opensthe door for the use of LLMs in both financial reporting and advice (page 55).Francois du Toit, founder of PROpulsion, says that by using ChatGPT’s processing capabilities,financial advisory practices can build comprehensive procedure libraries that enhance servicequality, boost operational efficiency and strengthen compliance frameworks – without thetime investment that documentation typically requires (page 62). On page 50, Zeldeen Müller,founder and CEO, inSite Connect, shares three AI tricks to make your clients love you more.Reimagining client engagement, understanding and coaching behavioural biases andtriggers, sound financial knowledge, leveraging technology and commitment to ethics andcompliance are the makings of a future-fit financial planner.Read all about it in this edition of Blue Chip.Alexis Knipe, EditorBlue Chip Journal – The official publication of FPIblue-chip-journalBlue Chip is a quarterly journal for the financial planning industry and is the official publication of theFinancial Planning Institute of Southern Africa NPC (FPI), effective from the January 2020 edition. Blue Chippublishes contributions from FPI and other leading industry figures, covering all aspects of the financialplanning industry.A total of 7 500 copies of the publication are distributed directly to every CERTIFIED FINANCIAL PLANNER®(CFP®) in the country, while the monthly Blue Chip Digital e-newsletter reaches the full FPI membership base.FPI members are able to earn three verifiable Continuous Professional Development (CPD) points per editionof the print journal (four per year) under the category of Professional Reading.Special advertising packages in Blue Chip are available to FPI Corporate Partners,FPI Recognised Education Providers and FPI Approved Professional Practices.ISSUE 95 |MAY/JUNE/JULY 2025BLUECHIPPublisher: Chris WhalesEditor: Alexis KnipeDigital Manager: Kerenza LundeDesigner: Elmethra de BruynProduction: Ashley van SchalkwykAccount Managers:Gavin van der MerweBayanda SikitiSam OliverCover and interview photographs:Andrew GormanManaging director: Clive DuringAdministration & accounts:Charlene SteynbergKathy WoottonSharon Angus-LeppanDistribution and circulation manager:Edward MacDonaldPrinting: FA PrintPUBLISHED BYGlobal Africa Network Media (Pty) LtdCompany Registration No:2004/004982/07Directors: Clive During, Chris WhalesPhysical address: 28 Main Road,Rondebosch 7700Postal address: PO Box 292,Newlands 7701www.bluechipdigital.co.zaTel: +27 21 657 6200Email: info@gan.co.zaWebsite: www.gan.co.zaNo portion of this book may be reproduced without written consentof the copyright owner. The opinions expressed are not necessarilythose of Blue Chip, nor the publisher, none of whom accept liabilityof any nature arising out of, or in connection with, the contents ofthis book. The publishers would like to express thanks to those whosupport this publication by their submission of articles and with theiradvertising. All rights reserved.

ABSA AD