Financial Wellness Coach

We help you improve your Financial Wellness by:

  • Helping you invest your money wisely
  • Helping you ensure that you have enough money when you retire
  • Helping you convert your assets into a tax-efficient and sustainable income stream when you retire
  • Ensuring that you have a well-planned estate and do not pay any unnecessary fees and taxes
  • Ensuring that you have a robust will in place
  • Protecting your ability to earn an income
  • Protecting you from massive medical costs


1.     Helping you invest your money wisely

Your investments need to be well structured in order to meet your short-, medium- and long-term goals.   We use the following model:

Term

Duration

Investment approach

Max Equity 

Targeted Return

Short

< 2 years

Conservative

20%

Fixed Income index + 1%

Medium

2 to 5 years

Moderate

50%

Inflation + 4%

Long

5 years +

Moderate Aggressive

75%

Inflation + 6%


Factors we look at when constructing your investment portfolio include ensuring that:

  • It can handle challenging times
  • It can take advantage of growth opportunities
  • The costs are kept to a minimum
  • Any taxes paid are kept to a minimum
  • We have the right mix of local and offshore assets.

We make use of financial planning software and one of the packages that we use is asset map.  Here is a video which shows how this can help you better understand your finances. Asset Map video


2.     Helping you ensure that you have enough money when you retire

We will help you plan for your retirement by doing the following:

  • help you calculate how much are you going to need each month when you retire
  • help you calculate how much of this monthly amount your current retirement savings will meet
  • we will then help you put in place a tax efficient investment plan in order to close this gap.

We make use of special financial planning software and will run various scenarios for you to help you understand the impact of:

  • early or late retirement
  • the selling of different assets to meet your retirement needs

All of this to help you find that sweet spot where:

  • your money will last for the rest of your life
  • you pay the least amount of tax
  • any estate duty is minimized

We provide benefit counselling to pension and provident funds, as well as run workshops and webinars on retirement planning.


3.     Helping you convert your assets into a tax-efficient and sustainable income stream when you retire

When you retire, you need to convert your assets into an income stream. The decisions you make here are very important and can have a major impact on your financial wellness in years to come if you do not get the right structures in place.

We will help you make the right ones in terms of:

  • what lump sum to take
  • what type of annuity to take
  • what portfolios you should be investing in in order to get the best returns at the right level of risk
  • how to structure your various investments and drawdowns in order to pay the least amount of income tax
  • how to ensure that you do not run out of money
  • how to use your retirement funds to avoid paying estate duty


4.     Ensuring that you have a well-planned estate and do not pay any unnecessary fees and taxes

When you pass away, your estate will typically pay around R1 million in estate duty for every R5 million in assets that you have.  With a bit of planning, this amount is able to be reduced.

By structuring your assets ahead of time, you can ensure that the tax man receives less and your family receives more.  I am a co-presenter of a course on estate planning at UCT and am familiar with the many opportunities that exist to reduce this tax.

There are three big costs when you pass away:

  • estate duty
  • capital gains tax
  • executor fees

We will analyse your estate as if you had passed away and calculate these various costs. We then run the numbers and create an action plan to be implemented to reduce these amounts. Just a bit of clever planning can make a massive difference to the financial wellness of your loved ones


5.     Ensuring that you have a robust will in place

It is important that you have a solid will in place.  There should be no grey areas which could lead to the wrapping up of your estate taking a long time.  If you have offshore assets that are not in a structure where beneficiaries are attached, then you should have and offshore will. We can be of assistance here and facilitate the drafting of a robust will for you.


6.     Protecting your ability to earn an income

What will happen to you and your family if you are unable to work ever again?  You must ensure that you and your family remain on the same financial trajectory that you are currently on even if you are unable to work. 

We can put solutions in place that will ensure that you continue to receive an income until you reach retirement, should you not be able to work. You can get this even if you have your own company or earn a living through a number of side gigs/odd jobs.


7.     Protecting you from massive medical costs

We are living a lot longer and the chances of getting a serious illness and surviving it are good. The problem here is that it comes at a cost.

Besides the financial impact of not being able to work at full strength while you are sick and recovering, there will also be costs that your medical aid and gap cover do not meet. These costs can be quite large, and I have seen people having to take out additional loans to keep afloat.

There are simple solutions that can easily remove this risk, which we can explore and tailor to your specific scenario.





Feel free to enjoy my weekly columns as published in The Daily Maverick

161 - Upfront fees plus costs make for a bad investment
2 min read

161 - Upfront fees plus costs make for a bad investment

In most cases, some form of retirement savings is available through group schemes offered an employer. Unfortunately though, sometimes the people that set these up take a chance, and hide details in the fine print. Let's take some time and discuss what you should look out for, and uncover the truths hidden underneath.

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160 - Tax-efficient ways of bequeathing offshore assets
2 min read

160 - Tax-efficient ways of bequeathing offshore assets

As we've spoken about before, it's important to have some assets overseas if possible, as it diversifies your portfolio to optimise growth. However, what are the advantages of having it in a wrapper? Let's take some time and unpack this scenario, with special interest on inheraitance and taxation.

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159 - Ensuring all is in order for when you're no longer around
2 min read

159 - Ensuring all is in order for when you're no longer around

We all want to live our lives as comfortably as possible, but often don't think about what happens to our loved ones should we pass away, or don't take the necessary measures soon enough. Let's take some time and discuss the importance of this planning, and ensure a bright future for your loved ones after you're gone.

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158 - Getting more bang for your buck with your retirement monies
1 min read

158 - Getting more bang for your buck with your retirement monies

We often hear the term "make your money work for you", but very few people actually understand what it entails, and how to go about achieving it. Let's take some time and shed some light on this concept, using retirement monies as an example.

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157 - A late starter's guide to retirement savings
2 min read

157 - A late starter's guide to retirement savings

The idea of planning for retirement can seem like quite a daunting task, and often times, people leave it a bit later than they should. Then when it comes to crunch time, it can lead to much anxiety and stress. Let's take some time and discuss ways to circumvent this problem, should you find yourself in it.

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156 - How to reduce the risk of having all your investments in South Africa
3 min read

156 - How to reduce the risk of having all your investments in South Africa

If you lived overseas, you would not have all your investments in South Africa. By spreading your investments across countries, you can get better returns and reduce the risk in your portfolio

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155 - Making your retirement investments work for you
2 min read

155 - Making your retirement investments work for you

The phrase "make your money work for you" is thrown around very often, but most people don't really grasp the concept fully, or have the knowledge of what to do and what resources are available. Let's take some time and discuss what structures you can put in place to ensure a healthy financial standpoint and in turn "make your money work for you".

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154 - Choosing between two different annuity options
1 min read

154 - Choosing between two different annuity options

As we've discussed many times before, nothing in my line of work is "one size fits all"; everyone has a unique set of circumstances that must be taken into consideration when they make decisions. You need to be in a solution which works in line with your own goals and targets. A specific factor in this regard is deciding what type of annuity option to choose. Let's take some time to discuss the differences between living and life annuities, and where the strength lies within each option.

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153 - Beware financial advice that does not add value
1 min read

153 - Beware financial advice that does not add value

This industry is mostly filled with people who are eager to do the necessary for their clients to help them grow and achieve financial success. However, as with many other professions, every now and then there tends to be a snake in the grass. Let's take some time and discuss what you should be looking out for and how to go about picking the right options.

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152 - Understanding death benefit payouts and their tax implications
1 min read

152 - Understanding death benefit payouts and their tax implications

As we've spoken about before, death is never an easy topic to talk about, but every now and then, life forces you to face the music. It is, however, important to arm yourself with the relevant knowledge. Let's take some time to understand death benefit payouts and their relevant tax implications.

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151 - How to get a better after tax income
1 min read

151 - How to get a better after tax income

Bank interest rates have been very good this year and many received a nasty surprise when they realized how much tax is payable. By restructuring the investment so that you pay CGT rather than income tax, you can reduce your tax bill significantly.

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How to deal with retrenchment
2 min read

How to deal with retrenchment

While you are in a fragile emotional state, you will be called upon to make lots of important decisions about unfamiliar financial issues. These decisions will have massive financial implications later in your life.

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Retrenchment – Finance and tax
2 min read

Retrenchment – Finance and tax

If you are retrenched, you are entitled to a severance package. This is typically 1 week’s remuneration for every completed year of service. However, if you take a voluntary retrenchment, this is classed ...

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Retrenchment Videos
1 min read

Retrenchment Videos

Information and Tips when you being retrenched

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Fees

Fees

I am a certified Financial Planner and am an accredited financial adviser with the FSCA.  I am completely independent and am accredited to do business with most companies.  

My compliance and professional indemnity insurances are provided by Succession Financial Planning (FSP number 41158). 

I am also a registered tax practitioner with a registration number of PR1058555. 


Fact finding meeting

I do not charge for the fact-finding meeting where we chat about your needs and explore whether I can add value.


Financial Planning Fees

I am not in favour of high upfront commissions; my approach is to look after your assets over the long term and help you grow your wealth.  

I will review your investments regularly and suggest changes when needed.   For this I charge an annual fee of 0.5%  

If you do not believe that I can add more than 0.5% in value to you each year, then you should not be using me.


My fees for single premium investments are competitively priced and are generally less than what is charged by others in the industry: 


 Industry FeeWhat I charge
Initial investment fee for investments5%1%
Ongoing investment fees for portfolios less than R10m1%0.5%
Life Annuities1.5%1.5%

For portfolio takeovers and investments that are larger than R10m, I will reduce the fee, depending on the complexity of the investment.

These figures exclude VAT

No fee is directly paid by you, I would receive a fee from the companies whose products I use for your solution.  I receive the same fee from all the companies so there is no incentive for me to use a particular product supplier.

Advice meetings

If you need specific advice on financial matters.  I can offer a service where I charge an hourly rate.

This is ideal if you would like me to look at a particular aspect of your financial planning or get a second opinion. 

These would include: 

  • Evaluating your current financial arrangements to see if there are any inefficiencies
  • Retirement planning
  • Evaluating your offshore holdings
  • Estate planning
  • Getting a second opinion on your financial arrangements with your existing advisor

I charge my time out at R1 600 an hour excluding VAT.    

Typical time taken for larger financial exercises are as follows:    

Second opinion on your finances with report4 to 10 hours
Retirement plan 4 to 10  hours
Estate Plan4 to 10 hours


Should you decide to use me to implement a solution then this fee would be deducted from any initial fee I receive from a product supplier.

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1 min read
Group and Wellness Day talks

Group and Wellness Day talks

What I charge for presentation to groups

I am an independent financial coach and help people understand the often-bewildering world of finance and retirement.  

I love explaining complicated financial terms in plain and understandable English, with which in turn I aim to empower my clients.  As part of this, I write a weekly financial column for the Daily Maverick 168 on various topics within the field, to educate and inform more people to get ahead of the game.

I offer group presentations, workshops and webinars.  

I can tailor my sessions to meet the specific needs of your group.

Below are some ideas of topics I can talk about.  I am, however, able to talk about most aspects of personal finance so do not be limited by this list.

  • How much should I save for retirement?
  • How to get out of debt
  • How to prepare for retirement

 

Pricing 

My prices are as follows: 

  Standard Pricing  Wholesale pricing for multiple bookings 
 1 hour talk                                                     5,000                                                     4,000
 3 hour workshop                                                  12,000                                                     9,600
 Full day workshop                                                  20,000                                                  16,000


My Credentials 

As aforementioned, I am a Certified Financial Planner and am registered with the FSCA.  I passed the financial mathematics course given by the Institute of Actuaries in London, hold an MBA from the University of Stellenbosch and have a post graduate teaching diploma from UCT. I also once ran the communications division for a large financial services company.

After more than 30 years in the financial services industry, I retired from corporate life last year and have set up a consultancy to help people manage their finances. 
 


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2 min read
Free talks to groups

Free talks to groups

Empowerment for the masses

I set aside roughly 100 hours each year to help people become financially well.


I provide talks to qualifying groups free of charge.  Typical groups would include:

  • School groups
  • Old age homes
  • Church Groups
  • Social groups
  • Book clubs

These talks can be provided in person or via Zoom.


Drop me an email at kenny@financialwellnesscoach.co.za 



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1 min read
  • 17 Stepping Stones Road, Everglen, Cape Town, Western Cape, 7550, South Africa

Who we are
The Financial Wellness Coach provides financial planning advice and education.

We implement and manage financial plans for individuals.

We are completely independent and are part of the larger Succession Financial Planning Group who support us with compliance, professional indemnity cover and getting bulk discounts on fees.New