no hidden fees, only transparency
Services and Fees
At Financial Wellness Coach, we believe that everyone deserves clarity in their financial journey, which is why our services and fees are built on a foundation of transparency and fairness.
OUR OUTCOMES How Can We Help You?
Your investments need to be well structured in order to meet your short-, medium- and long-term goals. We use the following model:
| Term | Duration | Investment approach | Max Equity | Targeted Return |
| Short | < 2 years | Conservative | 20% | Fixed Income index + 1% |
| Medium | 2 to 5 years | Moderate | 50% | Inflation + 4% |
| Long | 5 years + | Moderate Aggressive | 75% | Inflation + 6% |
Factors we look at when constructing your investment portfolio include ensuring that:
- It can handle challenging times
- It can take advantage of growth opportunities
- The costs are kept to a minimum
- Any taxes paid are kept to a minimum
- We have the right mix of local and offshore assets.
We make use of financial planning software and one of the packages that we use is asset map. Here is a video which shows how this can help you better understand your finances. Asset Map video
SERVICE 1
Helping you invest your money wisely
We will help you plan for your retirement by doing the following:
- help you calculate how much are you going to need each month when you retire
- help you calculate how much of this monthly amount your current retirement savings will meet
- we will then help you put in place a tax efficient investment plan in order to close this gap.
We make use of special financial planning software and will run various scenarios for you to help you understand the impact of:
- early or late retirement
- the selling of different assets to meet your retirement needs
All of this to help you find that sweet spot where:
- your money will last for the rest of your life
- you pay the least amount of tax
- any estate duty is minimized
We provide benefit counselling to pension and provident funds, as well as run workshops and webinars on retirement planning.
SERVICE 2
Helping you ensure that you have enough money when you retire
When you retire, you need to convert your assets into an income stream. The decisions you make here are very important and can have a major impact on your financial wellness in years to come if you do not get the right structures in place.
We will help you make the right ones in terms of:
- what lump sum to take
- what type of annuity to take
- what portfolios you should be investing in in order to get the best returns at the right level of risk
- how to structure your various investments and drawdowns in order to pay the least amount of income tax
- how to ensure that you do not run out of money
- how to use your retirement funds to avoid paying estate duty
SERVICE 3
Helping you convert your assets into a tax-efficient and sustainable income stream when you retire
When you pass away, your estate will typically pay around R1 million in estate duty for every R5 million in assets that you have. With a bit of planning, this amount is able to be reduced.
By structuring your assets ahead of time, you can ensure that the tax man receives less and your family receives more. I am a co-presenter of a course on estate planning at UCT and am familiar with the many opportunities that exist to reduce this tax.
There are three big costs when you pass away:
- estate duty
- capital gains tax
- executor fees
We will analyse your estate as if you had passed away and calculate these various costs. We then run the numbers and create an action plan to be implemented to reduce these amounts. Just a bit of clever planning can make a massive difference to the financial wellness of your loved ones
SERVICE 4
Ensuring that you have a well-planned estate and do not pay any unnecessary fees and taxes
It is important that you have a solid will in place. There should be no grey areas which could lead to the wrapping up of your estate taking a long time.
If you have offshore assets that are not in a structure where beneficiaries are attached, then you should have and offshore will. We can be of assistance here and facilitate the drafting of a robust will for you.
SERVICE 5
Ensuring that you have a robust will in place
What will happen to you and your family if you are unable to work ever again? You must ensure that you and your family remain on the same financial trajectory that you are currently on even if you are unable to work.
We can put solutions in place that will ensure that you continue to receive an income until you reach retirement, should you not be able to work. You can get this even if you have your own company or earn a living through a number of side gigs/odd jobs.
SERVICE 6
Protecting your ability to earn an income
We are living a lot longer and the chances of getting a serious illness and surviving it are good. The problem here is that it comes at a cost.
Besides the financial impact of not being able to work at full strength while you are sick and recovering, there will also be costs that your medical aid and gap cover do not meet. These costs can be quite large, and I have seen people having to take out additional loans to keep afloat.
There are simple solutions that can easily remove this risk, which we can explore and tailor to your specific scenario.
SERVICE 7
Protecting you from massive medical costs
OUR FEES Growth Focused Fees
BOOK A CONSULTATION
Fact finding meeting
I do not charge for the fact-finding meeting where we chat about your needs and explore whether I can add value.
Financial Planning Fees
I am not in favour of high upfront commissions; my approach is to look after your assets over the long term and help you grow your wealth.
I will review your investments regularly and suggest changes when needed. For this I charge an annual fee of 0.5%
If you do not believe that I can add more than 0.5% in value to you each year, then you should not be using me.
My fees for single premium investments are competitively priced and are generally less than what is charged by others in the industry:
| Industry Fee | What I charge | |
| Initial investment fee for investments | 5% | 1% |
| Ongoing investment fees for portfolios less than R10m | 1% | 0.5% |
| Life Annuities | 1.5% | 1.5% |
For portfolio takeovers and investments that are larger than R10m, I will reduce the fee, depending on the complexity of the investment.
These figures exclude VAT
No fee is directly paid by you, I would receive a fee from the companies whose products I use for your solution. I receive the same fee from all the companies so there is no incentive for me to use a particular product supplier.
Advice Meetings
If you need specific advice on financial matters. I can offer a service where I charge an hourly rate.
This is ideal if you would like me to look at a particular aspect of your financial planning or get a second opinion.
These would include:
- Evaluating your current financial arrangements to see if there are any inefficiencies
- Retirement planning
- Evaluating your offshore holdings
- Estate planning
- Getting a second opinion on your financial arrangements with your existing advisor
I charge my time out at R1 600 an hour excluding VAT.
Typical time taken for larger financial exercises are as follows:
| Second opinion on your finances with report | 4 to 10 hours |
| Retirement plan | 4 to 10 hours |
| Estate Plan | 4 to 10 hours |
Should you decide to use me to implement a solution then this fee would be deducted from any initial fee I receive from a product supplier.
Group and Wellness Day talks
I am an independent financial coach and help people understand the often-bewildering world of finance and retirement.
I love explaining complicated financial terms in plain and understandable English, with which in turn I aim to empower my clients. As part of this, I write a weekly financial column for the Daily Maverick 168 on various topics within the field, to educate and inform more people to get ahead of the game.
I offer group presentations, workshops and webinars.
I can tailor my sessions to meet the specific needs of your group.
Below are some ideas of topics I can talk about. I am, however, able to talk about most aspects of personal finance so do not be limited by this list.
- How much should I save for retirement?
- How to get out of debt
- How to prepare for retirement
My prices are as follows:
| Standard Pricing | Wholesale pricing for multiple bookings | |
| 1 hour talk | 5,000 | 4,000 |
| 3 hour workshop | 12,000 | 9,600 |
| Full day workshop | 20,000 | 16,000 |
100 Hours - Free talks to groups
I set aside roughly 100 hours each year to help people become financially well.
I provide talks to qualifying groups free of charge. Typical groups would include:
- School groups
- Old age homes
- Church Groups
- Social groups
- Book clubs
These talks can be provided in person or via Zoom.
Drop me an email at kenny@financialwellnesscoach.co.za
WHAT OUR CUSTOMERS SAY Our Testimonials
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CONTACT Get in touch with us today
CONTACT DETAILS
17 Stepping Stones Road, Everglen, Cape Town, Western Cape, 7550, South Africa
+27- 82 856 0348
kenny@financialwellnesscoach.co.za
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