Blue Chip Issue 96

BLUECHIPOn the

BLUECHIPOn the moneyMaking waves this quarterFPI updatesTHE FPI ANNOUNCES NEW BOARD CHAIRThe FPI announced at their Annual General Meeting the appointmentof Olwethu Masanabo, CFP®, as the new chairperson of its board, markinga smooth and strategic leadership transition within the organisation.Outgoing chair, Kirsty Scully, CFP®, who has led the board with distinctionfor the past three and a half years and served nine years as a boardmember, has officially stepped down.In a heartfelt message, Scully expressed her gratitude, “Serving aschairperson of the FPI has been one of the most rewarding chaptersof my professional journey. I’ll miss our debates, our laughs and ourshared passion. While my time on the board has come to an end, mysupport for the FPI certainly hasn’t.”Scully’s tenure was marked by unwavering leadership, strategicforesight and a deep commitment to upholding high standards ofprofessional financial planning in Southern Africa. Under her guidance,the FPI strengthened its position as the voice of the FPI professionalmembers, actively enhancing public trust, especially the CFP® designation.Masanabo brings a wealth of experience to the role. She is a CFP®,an executive director of a highly regarded financial services providerand a behavioural coach. She brings with her rich experience ingovernance, consumer education and behavioural coaching. She hasserved on the FPI board in a non-executive capacity since 2021. Shechaired the FPI’s Diversity and Inclusion, Human Capital Managementas well as the Nomination and Compliance Review committees.Her contributions to the FPI also include educating consumers onretirement and savings strategies – most recently explaining the Two-Potsystem in isiXhosa, demonstrating her commitment to financial literacyand inclusion.Masanabo commented, “I feel very honoured to have theopportunity to lead such a strong board of directors in supporting theexecutive team with the implementation of the FPI’s strategy. Followingthe success of reaching new records of membership numbers, we lookforward to continuing to grow the FPI.”THE FPI CELEBRATES THE COMPLETION OF ITS FIRST CFP® CAPSTONEThe Financial Planning Institute of Southern Africa (FPI) is proudto announce the successful completion of its first CFP® Capstoneand Financial Plan assessment, marking a significant milestone inthe evolution of professional certification in financial planning.The Capstone Course, introduced in January 2025, represents atransformative shift in the assessment of aspiring CFP® professionals.Designed to simulate real-world financial planning scenarios, thecourse culminated in the submission of comprehensive financialplans by candidates.A total of 137 candidates registered for the course, with 132submitting their financial plans. The overall pass rate stood at42.42%, with 56 candidates achieving the required 60% competencythreshold. The average score across all submissions was 51.90%.Assessment integrity and quality assuranceThe Capstone assessment was developed and moderated incollaboration with internal and external subject matter experts,incorporating international best practices. All submissions wererigorously evaluated using a detailed rubric, and 10% of planswere moderated through interviews to ensure fairnessand authenticity.Candidate feedback and observationsCandidates praised the course for its practical value and relevanceto real-world financial planning. However, assessors notedrecurring challenges in plan integration, accuracy of calculationsand professional presentation. Many candidates approachedthe task as an academic exercise rather than a client-facingdeliverable, highlighting the need for further guidance on structuringand communicating financial plans effectively.Next stepsCandidates who did not meet the competency threshold can requesta remark or resubmit their plans, focusing on areas identified asneeding improvement. The FPI remains committed to supportingcandidates through this process and enhancing the overall qualityof financial planning education in South Africa.“This first Capstone cohort has set a strong foundation for thefuture of financial planning certification. While the results highlightareas for growth, they also reflect the dedication and potential ofour candidates. We are confident that this new model will elevatethe standards of our profession,” said Nici Macdonald, head ofcertification and standards at the FPI.12 www.bluechipdigital.co.za

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