Lelané Bezuidenhout, CFP®
Q1. FPI has recently passed the milestone of more than 5,000 CFP® professionals. From your perspective, what does this tell us about the evolution of the profession in South Africa, and where do you still see the biggest gaps between product distribution and true financial planning?
The evolution of the financial planning profession in South Africa dates back to the 1980s, when structured education and qualifications in financial planning first emerged. Today, with nearly ten accredited universities offering postgraduate and honours programmes aligned to FPI standards and over 5,000 CFP® professionals, we see a clear shift toward a recognised, professionalised discipline. This growth reflects strong collaboration with education providers and corporate partners.
That said, the perceived gap between product distribution and holistic planning will likely remain. Not all consumers can afford comprehensive financial planning and many require targeted product solutions at specific life stages. The real question is whether all consumers need holistic financial planning at some point—absolutely. The role of the profession is to meet consumers where they are, while ensuring access to qualified professionals, like CFP® professionals, as their needs evolve.
Q2. In many markets, the debate is no longer whether clients need advice, but what kind of advice they are willing to pay for. How is the South African market thinking about the value of fee-based financial planning today, and do you see a gradual shift from product-led intermediation toward planning-led client relationships?
South Africa is gradually shifting from product-led intermediation to planning-led relationships. While commission-based models still play a role, the value of fee-based financial planning is increasingly recognised, particularly among households with generational wealth and more complex financial needs. As financial lives become more intricate, the logic of paying for professional, ongoing financial advice becomes clearer.
Importantly, a CFP® professional does not “sell products” but delivers professional financial planning. Products are simply tools; solutions to specific needs within a broader financial plan. The shift is not uniform, but momentum is building toward financial advice that is transparent, outcomes-based and focused on long-term client relationships.
Q3. FPI’s mission goes beyond certification and speaks about accessibility, public interest and professional standards. How do you balance the ambition to raise professional standards with the equally important need to expand access to quality advice beyond the traditional affluent client base?
Raising professional standards is part of FPI’s DNA—it is who we are. At the same time, access remains a critical priority. With a population of nearly 70 million, South Africa still has too few CFP® professionals to meet demand. Growing a strong pipeline of future professionals, through education partners and structured pathways, is therefore essential to expanding access.
It’s not a trade-off but a design challenge. FPI balances this by maintaining high standards (ethics, competency, CFP®) while scaling access through partnerships, technology and consumer engagement. Platforms like www.fpimymoney123.co.za help connect consumers to professionals, while consumer education is used deliberately as an advocacy tool in raising awareness and building trust in financial planning across all income segments.
Q4. Looking ahead three to five years, what will most determine the credibility of the financial planning profession in South Africa: stronger regulation, better adviser education, clearer remuneration models, greater public awareness, or something else entirely? And what role should FPI play in shaping that next phase?
Credibility will ultimately be determined by trust, anchored in advisers who think critically and behave ethically at all times. If trust is broken, everything else falls away. While stronger regulation, better education, clearer remuneration and greater public awareness all matter, it is the consistency of client outcomes and professional behaviour that will define the profession over the next three to five years.
FPI’s role is to anchor this trust. Through its updated Vision 2030, focused on “Building Better Futures”, FPI shapes outcomes for consumers, students and professional members alike.
By upholding standards, advancing ethics, building capability (including AI readiness) and advocating for the public good, FPI ensures that the profession’s growth translates into meaningful, trusted impact.
Kirsty Scully, CFP®
Q1. Before becoming Chairperson of FPSB Council, you witnessed the development of the South African market first-hand through your work with FPI. Where does South Africa stand today in the evolution of financial planning as a profession, and what elements of its development could offer useful lessons for other FPSB affiliate territories?
South Africa has a mature and well‑developed financial planning profession, particularly among well‑qualified planners and those holding the CFP® designation. This maturity is supported by strong regulation and robust professional standards.
- FPI as professional body: The Financial Planning Institute of Southern Africa (FPI) is the professional home of CFP® professionals, recognised by SAQA and aligned with the global FPSB and the CFP® designation is the leading professional standard.
- Structured professional pathway: Clear requirements across education, examination, experience, and ethics, strengthened by a Capstone‑style assessment focused on applied judgment.
- Strong regulation under FAIS: FAIS, overseen by the FSCA, ensures minimum competence, disclosure, and ethical conduct for all advisers.
- Shift to outcomes‑based regulation: The move toward COFI (expected 2026) places greater emphasis on advice quality and client outcomes, rather than box‑ticking compliance.
Together, these elements position South Africa as one of the more advanced advice professions in emerging markets, increasingly comparable with jurisdictions such as the UK and Australia.
Key lessons for other FPSB affiliates include clearly separating licensing from professionalism, building trust through a single dominant professional standard, assessing ethics and judgment rather than knowledge alone, and ensuring that regulators and professional bodies work in a complementary way.
In short: South Africa has shifted from asking “Who may sell financial products?” to “Who delivers demonstrably good financial advice?” – a question many countries are only beginning to confront.
Q2. Looking at both South Africa and the wider global landscape, do you believe the future belongs to advisers who can deliver a genuine planning service regardless of whether they operate within a bank, a large institution or an independent practice? Why is the quality of advice becoming more important than the label of the distribution model?
Across South Africa and globally, the future of advice belongs to advisers who can deliver genuine financial planning, regardless of whether they work in a bank, large institution, or independent practice. Distribution models matter less as clients, regulators, and firms focus increasingly on advice quality and outcomes.
A well‑qualified financial planner, such as a CFP® professional, can give excellent advice in any environment. What matters is not where the adviser is employed, but how they practice: applying sound judgment, acting in the client’s long‑term interest, integrating all aspects of a client’s financial life, and demonstrating ethical, defensible decision‑making.
As regulation becomes more outcomes‑focused and products more commoditised, trust is shifting away from brands toward the individual adviser and the advice process itself. In this environment, quality of advice, not institutional label, is the true measure of professionalism and credibility.
Q3. The CFP® certification is recognized globally, but its real value is shaped by how it is perceived in local markets. In South Africa today, what does the CFP® mark signal to clients, firms and regulators beyond technical competence alone?
In South Africa today, the CFP® mark signals far more than technical competence. It represents professionalism, ethical commitment, and accountability in a maturing advice market.
- For clients, CFP® is increasingly a signal of trust and client‑first behaviour, reflecting holistic, outcome‑focused advice rather than product‑driven recommendations.
- For firms, it acts as a proxy for professional reliability and reduced conduct risk, signalling planners trained in ethical decision‑making and applied judgment as advice models shift away from sales.
- For regulators, CFP® indicates practice above the legal minimum, exceeding FAIS standards in ethics, ongoing competence, and client outcomes.
In short: CFP® in South Africa has evolved into a professional trust signal, not merely proof of technical knowledge.
Q4. Remuneration remains one of the most sensitive topics in the evolution of advice. From both a South African and international perspective, what principles should guide the debate on fees, commissions, transparency and long-term client trust?
From both a South African and international perspective, remuneration debates should be guided by client outcomes, transparency, and trust. Whether advisers are paid by fees or commissions matters less than clear disclosure and alignment with the client’s long‑term interests. Sustainable trust is built when remuneration supports good advice, ethical behaviour, and demonstrable value, not short‑term sales.
Nicola Langridge, CFP® and current Financial Planner of the Year at FPI
Q1. In practical terms, how does a fee-based relationship work in your business today? When you explain your pricing to a client for the first time, what are you really asking them to pay for: technical expertise, an ongoing relationship, behavioral coaching, better decisions, or peace of mind?
In practical terms, a fee-based relationship in our practice is built on transparency, alignment and an ongoing partnership. Clients pay a clearly defined fee, typically a percentage of assets under management, which is fully disclosed upfront and reviewed regularly. There are no hidden commissions or product-driven incentives. Our advice is completely independent and always aligned with the client’s best interests.
When I explain our pricing, I anchor it firmly in our goals-based planning approach. I start by understanding what truly matters to the client, their life goals, priorities, and the trade-offs they are willing to make and then build a financial plan around that. The fee is not linked to a product, but to the design, implementation, and ongoing management of that plan. Importantly, we also formalise this through a clear service level agreement. This sets out exactly what the client can expect for that fee: the cadence of meetings, the depth and frequency of reporting, and the team supporting them. Clients know how often we will meet, what will be reviewed at each stage, and importantly, that they have access to a broader team, not just one advisor, who collectively supports their wealth journey.
Technical expertise underpins everything I do, portfolio construction, tax structuring, and estate planning, however that is only one component of the value I deliver.
Equally important is the role of behavioural coaching and decision-making support. In volatile or uncertain environments, helping my clients stay disciplined, avoid emotional decisions and remain focused on their long-term goals is often where my greatest value is delivered.
Ultimately, clients are paying for clarity, confidence, and continuity. It is about having a trusted advisor who understands their full financial picture, keeps them aligned to their goals, and provides peace of mind that their plan is both robust and adaptable over time.
Q2. Financial advice can still be linked to products and commissions in some segments of the market. What are the advantages and the challenges of building a proposition centered on professional planning and transparent fees?
The biggest advantage of a proposition centered on professional planning and transparent fees is alignment. When advice is not linked to product commissions, the conversation shifts meaningfully from “what should I buy?” to “what am I trying to achieve, and what is the best way to get there?” This allows us to provide truly goals-based advice, where every recommendation is driven by the client’s objectives rather than a product outcome.
It also elevates trust and professionalism. Clients can clearly see what they are paying, what they are getting in return and how decisions are being made. This transparency strengthens the relationship and positions financial planning alongside other trusted professions, where advice is valued independently of implementation.
Another key advantage is the quality of decision-making over time. A planning-led, fee-based model allows us to focus on long-term outcomes, guiding clients through market cycles, life changes, and complex decisions, rather than short-term transactions. This is where the real value of advice compounds.
There are challenges. The most immediate is perception. Some clients are still accustomed to advice appearing “free,” without fully understanding the underlying commission structures. Having an explicit fee conversation requires confidence, clarity, and education. It means helping clients recognise the value of advice as a professional service, not a by-product of a product.
There is also a responsibility on the advisor to consistently demonstrate that value. A transparent fee model raises the bar. It requires robust service delivery, clear communication, and an ongoing client experience that justifies the cost. This is where defined service level agreements, regular engagement, and measurable progress against goals become critical.
Ultimately, while the transition to a planning-led, fee-based model can be challenging, it is a necessary evolution. It builds a more sustainable profession, delivers better client outcomes, and reinforces the role of the financial planner as a long-term partner in a client’s financial wellbeing.
Q3. What does a modern South African client expect from a financial planner today compared with, say, five or ten years ago?
The expectations of South African clients have shifted significantly over the past decade.
Historically, many clients associated financial planners primarily with products, investment performance, retirement annuities, or insurance solutions. Today, there is a clear move toward valuing advice as an ongoing professional service.
Modern clients expect a far more holistic and personalised approach. They want advice that is anchored in their life goals, how they live, work, support their families, and ultimately what financial independence means to them. This has made goals-based planning central, rather than optional.
There is also a much stronger expectation around transparency and professionalism. Clients want to understand how their advisor is paid, how decisions are made, and what value they are receiving in return. This aligns with a broader shift toward fee-based advice and clearly defined service models, where expectations around engagement, reporting, and access are set up front.
Another major change is the demand for ongoing engagement and behavioural guidance. In an environment shaped by market volatility, economic uncertainty, and global events, clients are looking for a steady, informed voice, someone who can help them make sense of complexity and stay focused on long-term outcomes. The role of the planner has evolved from being reactive to being proactive and continuously involved.
Technology has also raised expectations. Clients now expect seamless access to information, regular reporting, and a level of responsiveness that matches their broader digital experiences. However, interestingly, this has not reduced the importance of the human relationship, it has elevated it. Clients still want a trusted advisor who understands them deeply, and who is supported by efficient, transparent systems.
Ultimately, the modern client is not just looking for financial products or just technical expertise. They are looking for a trusted partner, someone who can integrate all aspects of their financial life, guide them through change, and provide clarity and confidence in an increasingly complex world.
Q4. From your day-to-day experience, where do you see the profession heading in South Africa over the next decade?
From what I see in practice, the profession in South Africa is moving steadily toward greater professionalism, transparency, and client-centricity. The shift from product-driven advice to planning-led advice is well underway, and I believe this will continue to accelerate over the next decade.
We will increasingly see financial planning recognised in the same light as other established professions, where clients engage advisors for their expertise, judgement, and ongoing guidance, rather than for access to products. This will be supported by the continued growth of fee-based models, clearer disclosure standards, and a stronger emphasis on fiduciary responsibility.
Another important trend is the deepening of specialisation. As clients’ financial lives become more complex, advisors will need to offer more than generalist advice, whether that is in areas like retirement structuring, intergenerational wealth transfer, or advising specific client segments such as business owners or women. This aligns strongly with a goals-based approach, where advice is tailored and highly relevant to the individual.
Technology and artificial intelligence will also play a significant role, but more as an enabler to support service delivery than a replacement. Routine tasks, reporting, and even elements of portfolio construction will become increasingly automated. This will free up advisors to focus on where they add the most value: building relationships, providing context, and guiding behaviour through complexity and uncertainty.
The bar for client experience will continue to rise. Clients will expect structured, consistent engagement, clear service level agreements, regular progress tracking against goals, and seamless access to information. Firms that can deliver this consistently will stand out.
Importantly, there is also a growing need to broaden access to quality financial advice across different income segments. The challenge for the profession will be to balance high-touch, personalised advice with scalable solutions that make professional planning more accessible without diluting its value.
Ultimately, I believe the future of the profession is one of trust, clarity, and relevance, where financial planners are not seen as product providers, but as long-term partners in helping clients navigate their financial lives with confidence.