GCI Wealth will be visiting selected centres around South Africa between 11th and 23rd August 2017 on its annual wealth tour. The Wealth Tour has been undertaken by GCI executives since 2010 to bring financial advisors and their clients up to date with the latest trends and thinking in wealth management. This year’s tour will focus on happiness: what it really is, and how we can create it in our lives.
“They say that money can’t buy you love, but financial security certainly is a necessary basis for lasting happiness,” says Alex Cook, CEO of GCI. “We are passionate about helping clients create wealth not for its own sake, but because it is the vital ingredient for a happy life. We think it is vital for investors and their financial advisors to understand the link between financial security and happiness—this will ensure that we see wealth management in its true perspective.”
In line with the focus on the link between financial security and happiness, the keynote speaker on the tour will be Yvonne Johnston, previous Group Media Director for Ogilvy & Mather, and Chief Executive of the International Marketing Council of South Africa, which creates and markets Brand South Africa. Based on her observation at the World Economic Forum that seminars relating to happiness were always sold out first, Johnston decided to devote herself to this field. She is now a Professional Consciousness Coach working with leading companies and individuals.
Natasja Hart, Wealth Manager at GCI and a former Financial Planner of the Year, will also be speaking on the tour. She says that a savings culture promotes wellbeing in a number of ways, not the least being that it enables one to spend money now without feelings of guilt, secure in the knowledge that immediate pleasure isn’t putting our futures at risk.
Cook says that most South Africans are not giving enough thought to how they will fund their retirement. The recent Old Mutual Savings Monitor shows that 40% of the population have no formal retirement savings. Other research indicates that up to 90% of South Africans will not have enough savings to maintain their desired living standard once they stop working.
“Indications are that Millennials have a stronger savings culture, due in part to the fact that they understand that the nature of work has changed significantly, with secure, long-term jobs with good benefits becoming the exception rather than the rule,” Hart says. “But experience shows that their savings strategies may not be aggressive enough to ensure their financial independence in a volatile world. Financial planners and parents need to redouble their efforts to educate the younger generations about the benefits of financial independence, and how to achieve it.”
The GCI Wealth Tour will visit Pretoria, Johannesburg, Deneysville, Port Elizabeth, Knysna, Oudtshoorn, Cape Town, Howick and Umhlanga. Yvonne Johnston’s keynote address will be supplemented by talks from Alex Cook, Natasja Hart as well as Alex Funk, Head of GCI Asset Management, who will explain how to ensure the best mix of investments to achieve individual investors’ goals.