Money Heroes

Money Heroes is an empowering 13-part series that will take you on a journey to applying the power of expert advice in achieving your unique financial goals.

From investments to tax, we've got you covered with empowering advice from industry leaders in South Africa that will accelerate your journey to success.

This week's episode is packed with advice that will empower you on your financial planning journey.

Lelané Bezuidenhout from the Financial Planning Institute breaks it down very simply, while Bertus Albertse of Body20 shares his top success tips.

Financial Planning

If you don’t have financial goals, you don’t have a plan. And if you don’t have a plan, you will never reach any of those goals, says deputy CEO of Momentum Metropolitan Jeanette Marais.

“Financial planning provides you with that vehicle that is going to get you to reach those goals. It’s like building a puzzle. If you don’t have the full picture, you will never know how all the pieces will fit together and what it is you’re building,” says Marais.

Momentum has financial advisers listed on its website and you can partner with one who lives close to you.

“You can also speak to a friend that you trust and ask them whether they have a good financial adviser, especially one that they’ve had a long relationship with,” says Marais.

Three things to remember:
1. It’s a long-term relationship.
2. It’s a relationship that has to be built on trust.
3. You need to be sure what you’re going to get from them.

“Meet more than one and then make a decision about which person you are going to choose,” advises Marais.

Planning Tips

Theo Vorster, CEO of Galileo Capital, gives us his success tips.

"Financial planning is, in principle, how do I get from my current position to the goal I want to achieve? How do I bridge that gap?" asks Vorster.

For Theo, there are four things that will empower you on your journey:

Success Stories: Lelané Bezuidenhout

Have you ever wondered what process a financial adviser will take you through to discuss your future?

Lelané Bezuidenhout, CEO of The Financial Planning Institute of Southern Africa, takes us through their six easy steps:

"Our first step is to establish a relationship with you as a client. We need to understand who you are and you need to understand who we are and what we can do for you."

Gather info - "Our second step is to gather qualitative and quantitative information from you. This could include whether you’re married in community of property, do you have medical aid, children, or a trust."
Lelané Bezuidenhout - The Financial Planning Institute

With that information they then analyse it using very specific calculations and techniques, says Lelané.

"We then develop a plan that is absolutely catered and suited for your special goals and needs and where you want to take yourself and your family today, tomorrow and the years ahead."

Watch the video for the final steps in the process from Lelané...

Success Stories– Bertus Albertse

Bertus Albertse, founder and president of Body20 franchise network, says financial planning for your business also requires some forward thinking in order to avoid costly mistakes on your journey.

Albertse runs his own fitness business, and he has learnt lessons from first-hand experience:

Determine the growth engine for your business "What are the metrics that really grow your business? Top line sales are important yes, but what generates your top line sales? That comes down to your marketing strategy."

Your financial plan doesn't make decisions for you – "Your plan is there to support your decision-making. Constantly reference your financial plan to make sure you’re on track with what you projected and how it is playing out."

Paying for a plan is cheaper than costly mistakes – "Go and see someone to review your financial plan if you have built it yourself, because it's very easy to make mistakes that will cost you money down the road."

Watch the video for the final tip from Bertus…