First for the professional personal financial adviser
31 JULY 2025 R69.95 INCL VAT
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FAMILY OFFICES Inside the rise of family offices, where private wealth meets personalised strategy. Cover story + Pg 8-11
Family Offices and the great global wealth shift By Siobhan Cassidy
MoneyMarketing Contributor
SWITCHING MEDICAL AIDS What your clients gain, what they risk and what they need to know. Pg 12-15
NATIONAL SAVINGS MONTH Why South Africans need to save smarter, not just more. Pg 16-18
OFFSHORE INVESTING The importance of navigating new frontiers for diversified growth. Pg 19-28
ESG INVESTING How ESG is shaping the future of finance. Pg 29-31
HEDGE FUNDS Unpacking the power and perception of alternative investing. Pg 34-36
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A
n intergenerational wealth transfer is underway worldwide – and it's not only changing how and where fortunes are invested, but also why certain investments are being made. Described by US asset management research firm Cerulli as “the Great Wealth Transfer”, an estimated $124tn is expected to pass from one generation to the next in the US by 2048. Daryll Welsh, Head of Product at Ninety One Investment Platform, says the trend is “just as relevant in South Africa, perhaps more so”, noting that over a third of South African high-net-worth individuals (HNWIs) are over the age of 60, signalling a major shift in the control of assets. The transfer of wealth is influencing markets, as new generational preferences and priorities shape investment choices. Emerging wealth and old money A significant portion of South Africa’s private wealth will transfer hands over the next two decades, and
much of it is held in complex structures: trusts, offshore accounts and private businesses. Meanwhile, the HNWI population is growing, with ‘new money’ – often generated by entrepreneurs – joining ‘old money’ in setting up Family Offices. Jodi Suchard, Advisory Partner at Citadel Wealth Management, says demand for Family Offices has increased as more families recognise the benefit of professional, centralised wealth oversight. “We are seeing more requests from entrepreneurs and newly wealthy individuals looking to establish a legacy,” she says. Suchard notes that Family Offices are adapting to the changing needs of both old and new wealth. “Financial advisers play a key role in bridging traditional wealth management with modern family needs, from navigating complex tax regulations and foreign exchange rules to addressing ESG and climate concerns.” According to Stephan Hartzenberg, Group Director at PIM Capital, a new generation is now making the decisions, and their approach is fundamentally Continued on next page
Old Mutual Global Equity Fund, the proud winner of “Best Global Equity General” at the 2025 INN8 Invest Diamond Awards. Globally invested. Locally awarded.
Old Mutual Unit Trust Managers (RF) (PTY) Ltd is a registered manager in terms of the Collective Investment Schemes Control Act 45 of 2002. For fees and charges refer to www.oldmutualinvest.com. Old Mutual Global Equity Fund are proud winners, 2025 INN8 Invest Diamond Award – Global Equity General. Awarded June 2025.
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