Clients often feel overwhelmed by the range of investment solutions available in the market. For some, engagement with financial products and/or services beyond the basic features can be challenging.

The South African Financial Sector Conduct Authority (FSCA)) released its inaugural South African Financial and Customer Behaviour and Sentiment Study in July 2023. The goal of this study was to determine how clients engage with and view financial products and services and whether their use of financial products and services shows that financial institutions are maintaining the Treating Customers Fairly (TCF) outcomes.

The research was conducted among 1 200 respondents and indicates that clients may be settling for financial products and services that are not exactly meeting their needs. Also, many of the well-used products in South Africa are also the least understood. Clients also showed an aspirational desire to own investment products, equating owning investment products with wealth and financial stability. However, investment products are often not well comprehended.

Integrated Wealth Planning provides a way of engaging clients that equips them with the ability to set goals, a framework to make informed decisions and a plan to achieve these goals. This gives clients a sense of direction and a clear focus on their long-term plan and staying on track.

Get in touch with us to learn more about a client engagement process that helps your clients cut through the noise, and allows you to demonstrate your value as a financial planner.