Blue Chip Issue 90

A LEAP FORWARD INTO THE

A LEAP FORWARD INTO THE FUTURE In 2023, the FPI celebrated looking back to where we have been while moving forward into a future where change is a constant evolution of innovation and progress. And with 2024 just a month old, it certainly feels like we have made a collective leap forward into the future. In today’s fast-paced era, financial advisors require tools that seamlessly adapt to their evolving needs. Ferdi van Heerden, Momentum Investments’ new CEO, cautions that the investment industry can no longer ignore technological innovation and to do so would be at its peril. Van Heerden firmly believes that an AI-driven tech revolution will reset the rules for investment managers (page 20). To deal with this AI wave, you need to be strategic. It’s important to organise and optimise data so that AI can use it. Prepare your data by identifying the 20% that is important for 80% of the services and tasks you perform and focus on that. And then you need to ensure that you implement security measures and protocols (page 64). South Africa has been identified as the fifth-most affected country globally in terms of cybercrime. Reports indicate a concerning 356% increase in impersonation fraud between 2022 and 2023. In addition, a cybercrime report by Interpol discovered that more than 230-million cyber threats were detected in South Africa in 2021. Cybercrime is more profitable than the global drug trade and costs more per year than all natural disasters combined (page 50). Linktank concurs and goes on to say that 95% of the 230-million cyber threats were email-based attacks. South Africa has had a 100% increase in mobile banking application fraud and experiences on average 577 malware attacks every hour (page 58). Trust is the cornerstone of the financial services profession, and social media can be a powerful tool in building and maintaining this trust. Consistent, transparent communication that reflects professional ethics and values goes a long way in solidifying client trust. It’s about creating a digital presence that clients can rely on for accurate, helpful information (page 18). Blogs are conduits for conversation and driving connection with your community. They have the power to elevate your client engagement strategy to new heights, to initiate dialogues that build trust and foster lasting relationships. If you want to put people first and bring out the human element in your online communication, blogs can be a powerful way to achieve this through a scalable, sustainable strategy (page 62). Back to celebrating Back to the Future, which was the theme of the 2023 FPI Professional’s Convention. Turn to page 34 for a roundup of the winners from the prestigious FPI gala awards that recognise excellence in the industry and meet Lara Warburton, 2023 FPI Financial Planner of the Year (page 30). May 2024 be a winning year for you! All the best Alexis Knipe, Editor Blue Chip Journal – The official publication of FPI blue-chip-journal Blue Chip is a quarterly journal for the financial planning industry and is the official publication of the Financial Planning Institute of Southern Africa NPC (FPI), effective from the January 2020 edition. Blue Chip publishes contributions from FPI and other leading industry figures, covering all aspects of the financial planning 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 edition of 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 90 | FEB/MAR/APR 2024 BLUE CHIP Publisher: Chris Whales Editor: Alexis Knipe Digital Manager: Kerenza Lunde Designer: Monique Petersen, Brent Meder Production: Sharon Angus-Leppan Ad sales: Sam Oliver Gavin van der Merwe Bayanda Sikiti Venesia Fowler Vanessa Wallace Tahlia Wyngaard Managing director: Clive During Administration & accounts: Charlene Steynberg Kathy Wootton Distribution and circulation manager: Edward MacDonald Printing: FA Print PUBLISHED BY Global Africa Network Media (Pty) Ltd Company Registration No: 2004/004982/07 Directors: Clive During, Chris Whales Physical address: 28 Main Road, Rondebosch 7700 Postal address: PO Box 292, Newlands 7701 www.bluechipdigital.co.za Tel: +27 21 657 6200 Email: info@gan.co.za Website: www.gan.co.za No portion of this book may be reproduced without written consent of the copyright owner. The opinions expressed are not necessarily those of Blue Chip, nor the publisher, none of whom accept liability of any nature arising out of, or in connection with, the contents of this book. The publishers would like to express thanks to those who support this publication by their submission of articles and with their advertising. All rights reserved.

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