Blue Chip Issue 85

BLUE CHIP FINANCIAL

BLUE CHIP FINANCIAL PLANNER OF THE YEAR WINNERS ALWAYS WIN The Financial Planner of the Year Award was launched in 2000 and is the most prestigious award in the industry. It recognises the country’s top CERTIFIED FINANCIAL PLANNER® – a stellar professional who exhibits revolutionary ideas, consummate skill and unimpeachable ethics when dealing with clients. On 19 October 2022, the Financial Planning Institute of Southern Africa (FPI) will be hosting the prestigious awards ceremony where excellence in the financial planning profession is recognised. This event endeavours to acknowledge extraordinary CFPs® from across Southern Africa that demonstrate innovation, professionalism and commitment to both their clients and the financial planning profession. Meet the finalists of the Financial Planner of the Year Award 2022. PALESA DUBE, CFP® Director and Wealth Manager, Wealth Creed How has the process of applying for the Financial Planner of the Year Award benefitted your business? Have you made any significant changes to your business during the application process? The application process was a wonderful opportunity to assess our financial planning approach as well as our internal processes. It was also a great affirmation that we are certainly on the right track and that our client centricity is key. It did, however, also highlight the extent to which our industry remains fragmented, resulting in clients typically having to consult several professionals to address all aspects of their financial and risk management. To tackle this, our approach is to collaborate with other professionals in aspects we are not licensed to give advice on or if another skill set is required. This is an area we will be focusing on so that clients receive a more seamless value proposition. Do you believe that the FPI can improve the selection process in any way? For practicing financial planners, it is always a challenge to strike a balance between the information that the regulations require us to disclose to clients in the advice proposal document versus what clients can meaningfully grasp. A key take-away for me was to find a good balance between the two and importantly still use a format and language that clients can understand. Palesa Dube, CFP®, Director and Wealth Manager, Wealth Creed 26 www.bluechipdigital.co.za

FINANCIAL PLANNER OF THE YEAR BLUE CHIP it was to use my expertise for the benefit of the community from which I emanate. With this mission, our goal is to continue to grow our practice and ultimately have a presence nationally. I also believe that one of the most important contributions we can make as professionals is to place people in a position to make informed financial decisions for themselves. It’s vital therefore that we contribute our time and efforts to financial literacy and inclusion initiates, which is an area our practice and I, personally, are passionate about. One of the most important contributions we can make as professionals is to place people in a position to make informed financial decisions for themselves. What are the changes you would like to see in the financial planning industry? I think we need to take pride in the strides we have made in the industry over the years. When I started my career 18 years ago, the conversation was around moving from a product-led to a clientcentric industry with professionals that adhere to high ethical standards and use their technical skills to positively impact the lives of the clients we serve. The CFP® designation as well as the more recent RFP TM and FSA TM designations are a clear indication of our commitment to further professionalising the industry. The ball is now in our court as practising members to increase the prominence of these designations by proudly associating with them and living up to the high standards required of us by our peers and importantly the broader community we serve. What are your long-term objectives – including those on diversity and inclusion? One of the pivotal reasons for us starting an independent wealth management firm was so that we would be able to provide holistic financial planning services of a high standard to a broader base of the community, where our eye would remain solely on improving the lives of our clients. More importantly, for me as a black female, TOM BRUKMAN, CFP® Retiremeant Specialist and Director, Chartered Wealth Solutions How has the process of applying for the Financial Planner of the Year Award benefitted your business? Have you made any significant changes to your business during the application process? The process of applying for the Financial Planner of the Year Award has benefitted my business immensely. It has really allowed me to see “the wood from the trees” in that you start to view every aspect of your business with a different lens. One of the most significant changes I have made in my business, during the application stage, has been to really define what my succession planning strategy entails. Not only has this been important to detail in writing but it is important to communicate it (once defined) to staff and clients. The clarity on continuation and the growth of the business, for both staff and clients, has been hugely positive. Do you believe that the FPI can improve the selection process in any way? I do think there are benefits to holding panel interviews in person. I know this comes with a cost, but I think a deeper understanding of who the candidate is and what they stand for can come across more authentically in person. The FPI could potentially work on turnaround times to help the candidates plan ahead if they do make it further into the competition. Tom Brukman, CFP®, Retiremeant Specialist and Director, Chartered Wealth What are the changes you would Solutions like to see in the financial planning industry? I would like to see a more legal definition for a financial planner that incorporates the CFP® designation. This will www.bluechipdigital.co.za 27