Breaking News
In her address at this year’s annual Institute of Retirement Funds Africa (IRFA) conference, Pension Funds Adjudicator, Muvhango Lukhaimane, shared her office’s intention to start reporting on funds and fiduciaries who have habitually acted erroneously. This in response to criticism from complainants who expressed their concern that funds and service providers who regularly do the wrong things are not outed publicly.
Editor’s Thoughts.
We’ve just come out of National Financial Planning week, where we take the opportunity as a country and industry to highlight the importance of financial literacy and planning. Two-pot has really spotlighted the need for more engagement and conversation around these key life skills.
A look at the Evolutionary Awards entries around improving member outcomes shows an industry that has responded. And a very well-supported session at this year’s IRFA conference on this topic suggests that trustees and advisors are looking for more information and practical collaboration on this issue.
Today’s articles share views around this. And when reading them, I couldn’t help but reflect that the challenge with money and financial planning is that it is so specific to each person’s reality and background and behaviour and feelings. How do you meet someone where they are, if you don’t understand their unique combination of these factors? A difficulty made more difficult in a retirement fund context where trustees are not able to meet with each member personally.
I think a large part of the answer lies in diversity and inclusion. The world of financial advice is changing – and the ability to put yourself in someone else’s financial shoes – let’s call it financial empathy – is what I believe will be the key skill of the future.
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Stream: Impact investing and private markets
Kelebogile Moloko, Founder and Chief Investment Officer, Prowess Investment Managers
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Editor’s Live Updates.
The Editor attends many industry conferences and will keep you updated from these live through X, as they unfold.
The next event she’ll be at is the IRFA conference in Cape Town on 6 – 8 October.
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