There’s a fundamental difference between earning an income and building a business. A salaried mindset protects income. A founder’s mindset risks everything to create it.

“A successful business owner will constantly identify business opportunities with great clarity and then have the drive to deliver on them,” says Jaco Gouws, Head of Proposition at Private Clients by Old Mutual. “They’re decisive. They adapt. Whether it’s shifting markets, rising costs or global disruption, they keep going.”

Yet those same qualities can make it difficult to step back and take the time to plan for a lasting legacy.

“Business owners are capital allocators. They’re always asking, ‘Where should this money go? Should I expand, invest or buy something new?’ It’s a mindset built on action and control, where decisions are immediate and outcomes feel tangible.”

Over time, however, this journey evolves through four stages: building, scaling, unlocking and stewardship, Jaco says.

THE RISKY SCALING PHASE

The early phases are familiar territory. “At the start, it’s exciting and uncertain. You’re passionately building something from nothing. Then, as it starts working, you move into scaling – growing revenue, expanding, gaining momentum.”

But it’s during the scaling phase that most of a founder’s wealth becomes tied up in the business. That concentration may have created the wealth, but it’s also where the greatest risk lies.

“Many entrepreneurs are aggressive in their business, but conservative with their savings. They’re often sitting on significant cash, but it’s not being used efficiently, from a tax perspective or an investment one. And personal and business wealth often become blurred.”

Founders tend to measure everything against what they can achieve inside the business. “They’ll say, ‘I can double this money if I reinvest it, why would I put it elsewhere?’ Or they make decisions to reduce tax in the short term, but those choices can be destructive over the long term,” Jaco says.

LOOKING BEYOND THE BUSINESS

As success grows, so does the need to think beyond the business itself. “External investments are not there to compete with the business; they are there to protect it. They give you liquidity, reduce concentration risk and provide options if something changes.”

Without that diversification, everything remains tied to a single outcome.

But business owners are often wary of stock markets, viewing them as too volatile and preferring to keep capital accessible.

“They want control and flexibility, but while holding cash feels safe, it’s often inefficient,” Jaco says.

“Through asset-backed lending, we can help clients stay invested in a diversified portfolio while unlocking liquidity against it – often at rates below prime – so business owners do not have to compromise between growth and access.”

FROM BUILDING TO STEWARDING

Scaling is followed by what Jaco describes as the unlocking phase, an important inflection point where value is realised. “Founders may sell, partially exit or hand over to a successor. And then you move into stewardship – where you’re no longer building the business but managing what it has created.”

It is in this phase that many founders find themselves on unfamiliar ground.

“For 20 or 30 years, you’ve been solving problems and driving growth. Suddenly, you have liquidity and options, but you don’t necessarily have the same clarity about what to do next. People think wealth creates freedom, and it does. But it also creates pressure.”

There are many successful businesses, but far fewer cases of wealth that lasts.

“Returns are important, but continuity, access and efficiency matter just as much – making sure wealth can transition across generations, that it can be used and that it doesn’t erode over time.

But without structure and deliberate planning, even significant fortunes can dissipate,” Jaco says.

Still, many founders delay confronting these issues. “They’re busy. They’re focused on the business. That’s what they know,” Jaco says.

The mindset that builds wealth is not the same one that sustains it. “The focus and conviction are still important, but they need to be balanced with perspective – thinking about the long term, your family and what this looks like decades from now.”

Shifting from building wealth to managing it is not a single decision; it requires new habits. “You need to consciously set aside time regularly to step back and ask, ‘Where am I in this journey? What would happen if I exited today? Am I financially set up for that? Will I have access to enough money if a big opportunity arises?’”

This requires the right support. “Having someone outside the business – with the experience, expertise and perspective to guide these decisions – is critical. We work with business owners and families at every stage of this journey, so we know what works and what doesn’t.”

There is no perfect time to start, Jaco says. “It’s never too early, and it’s rarely too late. But there are missed opportunities if you don’t start thinking about it.”

Because, in the end, the real question isn’t whether you can build wealth. It’s whether it survives you.

The post Enduring Enterprises: But will it last? appeared first on Stellenbosch Visio.

ARTIFICIAL INTELLIGENCE has become the modern investment gold rush. Capital is flooding into chips, data centres and platforms at a scale rarely seen. The world’s most valuable companies are either building AI infrastructure, supplying the hardware that powers it or racing to monetise its promise. For investors, the pull can be irresistible.

Sean Ashton, Head of Investments at Private Clients by Old Mutual, sees both sides of the frenzy. “It is a dangerous assumption to believe today’s market leaders will remain dominant forever,” he says. “If you look at the largest constituents of major indices over time, leadership changes. ExxonMobil was once one of the largest names in the S&P 500. Today, Nvidia is the biggest chipmaker and the largest profit pool in that space, but will it stay king of the castle?”

The Appeal – and the Risk

AI sits at the centre of what many describe as a new industrial revolution. At one end of the value chain are the ‘picks and shovels’ – semiconductor designers such as Nvidia, whose chips underpin the global build-out of AI data centres. At the other end are the ‘hyperscaler’ cloud tech giants, like Amazon, Microsoft, Alphabet and Meta, that are investing hundreds of billions of dollars in building enormous data centres to meet the market’s appetite for AI.

Right now, the economics favour the suppliers. “They own the profit pool and have the best margins because of their scale. That lead is enormous, and it is a huge challenge for anyone else to close it,” Sean says.

“I am not prepared to forecast 10 years ahead and say it cannot change. You are already seeing up-and-comers entering that landscape. We have a company in our portfolio called Advanced Micro Devices (AMD). Although it carries a smaller weighting than Nvidia, we consider it a very credible second-tier competitor. But could AMD overtake Nvidia anytime soon? That is a long shot.”

That uncertainty is one reason the word ‘bubble’ keeps resurfacing. Yet Sean is cautious about using it. “A bubble usually looks like a massive blow-off top, with the kind of price action where broad indices double within 12 months, as we saw in 1999 during the dotcom bubble. We have not yet seen that price action. Instead, we have had optimism and a steady bull market, punctuated by some corrections along the way, which is normal.”

In fact, many of these large companies now have valuations that suggest greater scepticism than is generally reflected in articles about an AI bubble. These businesses have grown very large and investors are asking how much longer they can continue to grow.

That scepticism reflects fears of a mismatch between the investment rate and the monetisation rate. Large sums are being spent on AI infrastructure, but it is less clear that sufficient additional revenue will follow to achieve an appropriate return on this investment. “The concern is whether throwing another hundred billion dollars at the problem yields incremental improvement,” he says.

Why Concentration is Dangerous

That’s why Sean believes no portfolio should be a one-way bet on a single factor – such as AI – because themes come and go and trade tensions, supply-chain vulnerabilities and political volatility all affect sentiment. “In the USA, for instance, if you look at the S&P 500 and at returns in Republican and Democratic years, irrespective of policy or who the president was at any given point, that index has marched forward over time because of human ingenuity and the USA’s pro-capitalist system, which incentivises risk-taking and enables enterprises to raise capital and innovate.”

Value creation comes from many factors. “You need an appropriately diversified portfolio across sectors and themes. We invest in banks, private equity, AI-linked semiconductors and more traditional assets such as hospital stocks. Our focus is on ensuring that the quality of the assets we acquire stands up to scrutiny,” he says.

That does not mean you cannot allocate to newer ideas that are potentially nascent as businesses, but you must size those allocations appropriately. “We would always want the bulk of our portfolio to be comprised of very high-quality companies that can stand the test of time, companies that invest in and build the future. If you take a longer-term view, the rest is largely noise.”

So Where Does AI Fit into Decision-Making?

Beyond what investors choose to invest in, AI is reshaping how investment decisions are made. Investing in AI is one thing, but at the back end, how much of the investment decision-making will AI take over?

Clients are no doubt using AI themselves and are far better informed than ever, Sean says. “Anyone can get an overview of a company they know nothing about in minutes, but I see AI as an assistant, not an oracle. Ideally, AI should remove repetitive, non-creative, non-value-add work from human activity. It allows us to cover a lot more ground more quickly.” But ultimately, there is still a decision to be made.

“That judgement factor has a massive human element. You need experience to know when something does not make sense or when the information is misleading. AI also doesn’t replace the relationship role or the executive decision-making role,” Sean says.

“A large part of what we do is helping clients not only make the right decisions over time, but also avoid making the wrong ones when it matters most. Those moments come when emotions run high, and I do not believe an AI bot will talk someone back from the proverbial ledge during a market crash, for example. When you panic, will you call your portfolio manager or message an AI chatbot?”

While there are many tools – like AI – for gathering information to make sound investment decisions, Sean believes what sets Private Clients by Old Mutual apart is the effort to turn over the stones. “It comes down to having an enthusiastic investment team with a deep sense of curiosity about the world, about finding opportunities, and a passion for this game. If you do not have a passion for this game, you will not last.”

The Future

“The advice I give to investors has not changed: invest as much as you can, as early as you can, and be consistent and deliberate; small differences compound into massive outcomes over time. The key is to keep investing and avoid rash decisions at market extremes, both high and low. Emotions creep in, and that is where the benefit of having an experienced portfolio manager to talk to really matters,” Sean concludes.

About

Private Clients by Old Mutual offers holistic, bespoke solutions for high-net-worth clients. We partner with you and various specialists, tapping into the required resources to provide an integrated plan for your holistic financial affairs, including investments, wealth structuring and transfer strategies, proactive tax planning and portfolio lifestyle and administration. Our level of individual attention and interaction is a defining standard in the personal service we provide. We boast a strong track record in wealth and investment management. As part of a brand that has been growing wealth for South Africans for nearly two centuries, we believe that there is no substitute for experience that comes with managing wealth through various economic and market cycles. Our team, therefore, has several decades of success and experience in successfully working with individuals, families, trusts and entrepreneurs in managing their wealth.

Contact

Private Clients by Old Mutual |+27 (0) 861 5300 | privateclients@omweatlh.co.za

The post Beyond the AI Boom appeared first on Stellenbosch Visio.

Leaving a legacy goes far beyond accumulating assets. It’s about the story we pass down, the values we instil and the impact we create. Yet the next generation may view your family’s wealth story through a very different lens – traditional estate planning must evolve to meet the complexities of modern family dynamics and a rapidly shifting global context. The real question is: are we preparing our heirs to carry the torch with purpose and responsibility?

Where previous generations prized discipline, discretion and long-term preservation, many younger heirs are drawn to immediacy, experiences and visible success. For them, the focus is often less on building wealth and more on accessing it. The result? A growing tension between preservation and consumption.

So we must ask: are we truly preparing the next generation? Are we equipping them with the financial literacy, emotional intelligence and accountability needed not just to preserve wealth but also to grow and steward it for those who come after them? And are we dedicating the time now to ensure our estate planning strategies reflect the realities of tomorrow, not just the traditions of yesterday?

New pressures, new priorities

Estate planning remains the cornerstone of wealth management and family security. In the past, wealth transfer followed a relatively structured path – successors were often groomed to take over the family business, pursue a university education and adopt a conservative approach to growth.

But today, new generations are bringing with them new values, lifestyles and financial priorities. Many of our clients express concern about a growing sense of entitlement among their children, fuelled by the portrayal of wealth on social media. But the curated perfection of influencers – luxury brands, exotic holidays and expensive cars – often masks the real financial picture.

This leads to ‘wealth distortion’: a gap between the reality of responsible wealth management and the illusion of instant luxury. Long-term investing, saving and patience are increasingly seen as outdated – replaced by a culture of immediacy and external validation.

Yet these same platforms, when used wisely, can promote social responsibility, entrepreneurship, awareness of global issues and financial literacy. It all depends on how the next generation is guided. The question is: which version of wealth will your family legacy embody?

What research tells us

Recent research by the Society of Trust and Estate Practitioners (STEP) revealed trends that align with what we’re seeing across our client base:

• Financial security for future generations remains the top priority.
• Interest in social responsibility is growing – but still not widely acted on.
• Tax efficiency is still vital but is now seen through a lens of long-term planning and compliance, not avoidance.
• Misinformation about trusts and estate structures is widespread – clear education is urgently needed.
• Silence about wealth inside families is still the single biggest obstacle to meaningful succession planning.

In our experience, open dialogue, education and clear governance remain far more effective than secrecy or assumptions. Yet many clients still hesitate to disclose the full extent of their wealth to their children, fearing it will compromise privacy or lead to entitlement or ‘trust fund baby’ behaviour. The risk? A generation unprepared for the complexity of what they’ll receive.

How to build a lasting legacy

Successful generational wealth transfer depends on intentional planning and expert guidance. At Sanlam Private Wealth, we help families navigate the emotional and structural complexity of multigenerational wealth. This means addressing not only the numbers but also the values, relationships and conversations that give them meaning.

We begin with storytelling – where the family wealth creator shares the ‘why’ behind the wealth. This creates context, connection and perspective that numbers alone can’t provide.

• Through our trustee training programme and bespoke family workshops, we help clients to:
• Define a shared mission rooted in core family values
• Establish open communication and accountability frameworks
• Build financial literacy and governance skills
• Instil a sense of stewardship, purpose and philanthropy
• Preserve the family’s entrepreneurial spirit and historical journey.

Starting the conversation

Generational wealth is more than the financial assets we leave behind – it’s the beliefs, principles and sense of responsibility we pass on. When families are equipped to have honest conversations, embrace education and plan with intention, they create something far more powerful than wealth: they create legacy.

For comprehensive guidance on estate planning and family legacy structures, contact Christine Bornman at christineb@privatewealth.sanlam.co.za.

The post Future-Proof Your Family’s Wealth appeared first on Stellenbosch Visio.

In a world where traditional asset classes face persistent volatility, many high net worth investors are looking beyond equities and bonds for new sources of diversification and returns. This is where alternative investments come into play – they can add resilience to portfolios and the potential for enhanced long-term overall growth.

WHAT ARE ALTERNATIVE INVESTMENTS?

Alternatives refer to investments that fall outside the traditional universe of investment categories. It’s important to distinguish between alternative assets and alternative structures:

Alternative assets differ from conventional assets such as stocks, bonds and cash. Unconventional strategies are often employed to manage these assets, such as leverage or short selling. They can be less liquid and may have lower correlation with traditional markets. Examples include:

• Hedge funds: pooled investment vehicles that employ diverse strategies and techniques to seek returns in varying market conditions
• Real assets: infrastructure and property, including toll roads, utilities, renewable energy projects, and various forms of real estate
• Collectibles: tangible, often passion-driven assets such as vintage wine, fine art, rare watches or classic cars
• Digital assets: blockchain-based digital tokens like bitcoin and Ethereum – still highly speculative and volatile.

Alternative structures, by contrast, refer to investment vehicles that may hold both traditional and non-traditional asset types. Typically less liquid with lock-ups of up to 10 years, they include:

• Private equity and venture capital: investments in privately held companies – mature businesses (private equity) or early-stage startups (venture capital), often in tech or biotech
• Private credit: also known as private debt, these are non-bank loans made to companies, often offering higher yields but more complexity than traditional bonds.

Investing in alternatives typically involves longer time horizons, lower liquidity and specialised expertise. With less regulation and higher barriers to entry, these investments have traditionally been the preserve of institutional and ultra-high net worth investors.

Today, the appeal of alternatives is extending into the broader wealth management space, reaching a wider audience of sophisticated individual investors.

ROLE OF ALTERNATIVES

Alternative investments can play a strategic role in building more resilient portfolios. Their primary value lies in diversification – delivering returns that are uncorrelated with the ups and downs of traditional equity and bond markets. By behaving differently across market cycles, alternatives can help smooth overall portfolio performance and improve risk-adjusted returns.

For example, private equity offers exposure to dynamic companies and innovative sectors not represented in listed markets, while real assets such as infrastructure and property can offer a degree of inflation protection. Hedge funds could generate returns across a range of market conditions. Private credit, meanwhile, has become a compelling source of yield, with the potential for lower volatility than traditional high-yield bonds.

There’s also a broader economic benefit: private markets channel capital into areas that drive innovation and long-term growth. Venture capital backs breakthroughs in fields like biotech and AI. Infrastructure funds support the development of essential public services. These investments support entrepreneurship, job creation and economic development.

In South Africa, a more active private investment ecosystem could be transformative – unlocking funding for local entrepreneurs and enabling growth beyond the listed space.

IMPORTANT CONSIDERATIONS

From an investment point of view, the benefits of alternative investments come with trade-offs:

• Many offer limited liquidity and require longer lock-up periods
• They can be more complex, with less transparent valuations and reporting standards
• Costs tend to be higher, with layered management and performance fees
• Regulatory and tax considerations can vary widely across jurisdictions and structures, requiring professional advice.

SOLID TRACK RECORD

At Sanlam Private Wealth, we’ve been active in the alternatives space for several years – particularly in private equity, private credit and hedge fund strategies. While we already have a solid track record in this area, we’re continuously developing our offering to give clients broader access to compelling private market opportunities.

Alternatives aren’t a substitute for traditional investments. However, they can play an important supporting role in a well-diversified portfolio. Their inclusion can help smooth returns over time, reduce portfolio volatility and tap into opportunities unavailable through conventional routes.

That said, they’re not without their challenges – they require careful analysis, a long-term investment horizon and a clear understanding of the unique risks involved.

For more information, please visit our website.

The post Beyond the traditional: the case for alternatives appeared first on Stellenbosch Visio.

Estate planning isn’t just about passing on wealth – it’s about protecting your loved ones and ensuring a smooth transition for future generations. It’s not a one-size-fits-all process, however, and a do-it-yourself approach is not advisable. Without careful planning, hidden risks can lead to unintended consequences. We provide an overview of what you need to know.

Seek professional guidance in building a plan that honours your wishes.

 

Madelein Steenkamp, Sanlam Private Wealth

Estate planning may seem straightforward, tempting you to handle it on your own. But safeguarding your legacy requires careful planning to ensure your assets can be transferred smoothly while avoiding legal complications and financial pitfalls. No two estates are the same, and a cookie-cutter approach can leave critical gaps. It’s crucial to seek professional guidance in building a plan that truly honours your wishes and secures your family’s future.

The risks of a DIY approach include:

Not meeting legal requirements when drafting and executing your will. For your will to be valid, you must be at least 16 years old, and the will must be in writing – whether typed or handwritten. Each page, including the last one, must be signed by you and two competent witnesses, both 14 years or older. Crucially, anyone who serves as a witness (and their spouse) is automatically disqualified from inheriting under that will.

Ambiguous wording in your will, which can lead to unintended consequences. We’ve all heard cautionary tales of DIY and off-the-shelf wills that caused unnecessary hardship. Poorly drafted documents – filled with vague or unclear language – often spark disputes, court battles and costly delays, leaving loved ones in limbo. The solution? Professional guidance ensures that your wishes are crystal clear and legally sound, safeguarding your legacy and preventing avoidable complications.

Failure to understand tax laws and implications. Estate planning is increasingly complex, especially when assets span multiple countries or beneficiaries live abroad. A DIY approach can leave critical tax implications unaddressed, putting your estate at risk. South African assets aren’t the only concern – holdings in foreign jurisdictions can trigger hefty taxes. In the UK, inheritance tax applies at 40% for estates exceeding £325 000, while in the US, assets above US$60 000 can attract Federal Estate Tax of up to 40%.

Adding to the complexity, structures like trusts – widely used in South Africa – can create unforeseen tax burdens for beneficiaries living in other countries.

Drawing up only one will if you have offshore assets. Many assume that one worldwide will is sufficient for both South African and offshore assets, but this isn’t always the case. The rules governing estate administration vary by country, and a single will can delay proceedings, as it will have the effect that the South African and foreign estates cannot be processed simultaneously.

Probate is another key consideration – certain jurisdictions won’t release inherited funds based solely on a Letter of Executorship from South Africa. Additionally, while South Africa grants freedom of testation, allowing individuals to bequeath assets as they wish, other countries have forced heirship rules, restricting testamentary freedom.

Without a clear understanding of international estate laws, your will may not reflect your true intentions. Seeking expert advice ensures your estate plan is legally sound across all jurisdictions.

Not considering special needs of children and maintenance obligations. Proper provisions must be made for your spouse’s maintenance, your children’s future, and the overall liquidity of your estate to ensure your wishes are carried out effectively.

For minor children, protecting their inheritance is crucial. Without the right safeguards, their assets may be held in the Guardian’s Fund until they reach adulthood. Establishing a testamentary trust will protect their inheritance and ensure that it is managed wisely. Careful selection of trustees is equally important – they will oversee your child’s financial well-being until they reach maturity or the age specified in your will.

The consequences of a poorly considered, DIY estate plan can be devastating for those who depend on you. Estate planning is a highly complex area of expertise, so it’s paramount to obtain expert advice to ensure your legacy truly supports the people you love.

For more information, please visit sanlamprivatewealth.com.

The post The hidden risks of DIY estate planning appeared first on Stellenbosch Visio.

As a private client, you’ll in most cases need a bespoke wealth plan designed specifically for you and your family, taking into account your financial reality, aspirations and risk profile. What does a customised wealth strategy include?

A bespoke wealth plan for a discerning individual or family is essentially an end-to-end solution which could include anything from minor investment portfolio customisation to global estate planning, cross-geographical tax structuring and a strategy to ensure the orderly transfer and preservation of your wealth for future generations.

At Sanlam Private Wealth, we’ll work closely with you to craft customised, integrated wealth solutions, starting with an investment portfolio designed around your individual risk profile and investment objectives. Whether you wish to grow and preserve your overall wealth, invest for retirement, safeguard your income after retirement, invest offshore, or invest in a Shariah-compliant portfolio, we’ll customise your portfolio as part of your overall wealth plan to suit your needs, objectives and circumstances.

How does a bespoke private client portfolio differ from a collective investment scheme, also known as a unit trust fund?

The main benefits of a customised portfolio include:

• Your investment portfolio is tailored – your individual circumstances guide the process during the initial and continued management of your personal portfolio. In contrast, a unit trust is a pooled investment vehicle where investors buy units in a pool of assets managed by a fund manager.

• You have direct ownership of the assets in your portfolios – this allows for complete transparency and greater flexibility.

• You enjoy personal service, with direct access to the investment professional who buys and sells your assets and manages your investments on a day-to-day basis – you don’t have to deal with a private banker, relationship manager or call centre agent.

• You can choose the extent to which you wish to participate in the day-to-day management of your affairs.

• Whereas a unit trust tends to have rigid mandates that the fund manager must adhere to, your private client portfolio manager is subject to fewer restrictions, which gives them the ability to invest in line with their best investment views.

While you may prefer a customised portfolio with a traditional investment strategy focused on equities, fixed income and cash, we can also give you access to alternative asset classes previously available only to institutional investors. These could include hedge funds, private equity and private credit.

A critical aspect of wealth management, especially across multiple jurisdictions, is global estate planning. Why is it so important, especially if you have both local and offshore investment structures?

Estate planning is a crucial part of ensuring the smooth transfer of your wealth to the next generation. Each person’s estate plan is unique, and it’s about so much more than just estate duty and tax. It’s a highly complex area of expertise, and there are many factors to be taken into account, so it’s paramount to obtain expert advice to ensure that there are no nasty surprises for your beneficiaries when your estate gets wound up. This becomes even more important if your beneficiaries live in another country.

Taking into account your financial assets and liabilities, proper estate planning can provide an excellent opportunity to restructure your wealth through, for example, local and offshore trusts. As part of your integrated wealth strategy, the Sanlam Private Wealth fiduciary and tax experts can assist you in setting up and managing local and offshore trusts, global tax structuring and estate planning, as well as administrative tax compliance services.

Does a customised wealth plan include access to equity-backed finance, where investors with existing equity portfolios can use them as collateral for a loan?

Yes, as a Sanlam Private Wealth client, you have the option of using your equity portfolio to secure finance or arrange a short-term guarantee. The service is fast and flexible, and offered at highly competitive rates. This can be particularly useful for investors who may need quick access to capital and don’t wish to liquidate an investment portfolio in order to sidestep the cumbersome process of applying for a bank loan.

One final point: it’s important to note that a customised wealth strategy is not a once-off event. It is a dynamic plan which should be reviewed regularly – it will evolve in line with changes in your life circumstances and your goals, as well as market conditions.

For further information, or to schedule a private client consultation, visit www.sanlamprivatewealth.com.

The post Choose bespoke over off-the-shelf appeared first on Stellenbosch Visio.

Crafting an exceptional wine requires the expertise of multiple specialists – from the vigneron who understands the soil and microclimate to the winemaker blending grape varieties for the perfect outcome. Managing the wealth of high-net-worth individuals is no different. A single recipe or formula won’t do; it’s the synergy of diverse professionals working together that creates a vintage of enduring financial success.

“Similar to the art of creating a great wine blend, constructing an outstanding investment portfolio involves carefully selecting components with the expertise of various specialists. These experts have to work together, seamlessly aligning with a shared goal. Just as the failure of one can lead to overall failure, their harmonious interaction creates a balanced outcome,” says Jéan Minnaar, CEO of Private Clients by Old Mutual Wealth.

Although Private Clients has all the skills and experience necessary to provide a flawless service to high-net-worth clients, it also collaborates with financial advisers and consultants to best serve clients’ needs.

“We  believe in a round-table concept, where the client is surrounded by a team of people with different skills who share a common vision: to build a great wealth management plan or investment portfolio for the client,” says Jéan. “It’s not about whether all the experts are from one company – what matters is that they trust one another and stay focused on the client’s goals while filtering out the noise. A healthy partnership challenges and drives everyone to do better for the client.”

Building meaningful partnerships is not just about convenience, but about managing enduring wealth for the client. “At Private Clients, we take the time to understand not only the assets held with us, but also our clients’ lifestyle needs, business journeys and future ambitions By gaining this complete picture, we craft bespoke solutions tailored to fit each client’s personal journey – a perspective that complements the specialised focus of other experts,” he explains.

The complexity of modern wealth management makes collaboration essential. “Sometimes advisers find it difficult to keep up with the latest trends and developments in the investment and wealth management world. One adviser cannot be an expert in local and global markets, tax issues, legal questions, fiduciary services, trusts, property and much more,” Jéan says. “That’s where we add value – by partnering with advisers and bringing a range of expertise to help them better serve their clients and to build portfolios that stand the test of time, even beyond the client’s death.”

Importantly, Private Clients doesn’t seek to replace trusted relationships clients may already have with advisers or consultants. “We deeply value the insight that comes from someone who knows a client’s personal circumstances, business operations and particular ambitions,” Jéan says. “Rather than displacing these trusted connections, this collaborative approach strengthens the client’s overall strategy. We add complementary expertise, broadening the advisers’ offering and delivering richer, more well-rounded solutions. It’s about providing optionality and fresh perspectives,” he adds.

Choosing the Right Wealth Partner

Wealth planning often extends beyond a single lifetime, making it one of the longest and most important relationships clients will ever embark on. “Many times, you’re planning for outcomes that go beyond your lifetime,” explains Jéan. “When setting up a trust meant to last for 150 years, wouldn’t you prefer a partner who has already proven their longevity? You need a trusted companion who will stand the test of time. It’s essential to trust not just the adviser you work with, but also the institution they represent. Look at its history and ask whether its legacy is likely to endure. Private Clients combines specialist expertise with the stability of Old Mutual – a brand that’s been growing South Africans’ wealth for almost two centuries.”

Jéan believes a wealth partner’s true value lies in navigating complexity across generations. “You need someone who understands both local and global needs. We think like global citizens and help clients manage challenges such as tax emigration, international beneficiaries, and assets across multiple jurisdictions. It’s about building resilience into your financial plan, much like curating an exceptional vintage – it takes expertise, insight and care.”

Clients’ needs have evolved in a world that has become more complex and connected. Private Clients has the expertise and experience to meet the challenges of South African high-net-worth individuals who may have children, property, investments, trusts and businesses in multiple countries. “Our solutions are designed to help them navigate these complexities smoothly, while remaining true to their African roots.”

This approach, Jéan explains, benefits not only clients, but also the advisers who collaborate with Private Clients. “We believe in partnerships that strengthen the adviser’s proposition. There’s tremendous value in bringing complementary expertise to the table. We can’t be everyone’s adviser, but we can play a significant role in empowering others to offer their clients more. So if you want to go fast, go alone. But if you want to go far, let’s go together!” Jéan concludes.

About

Private Clients by Old Mutual Wealth offers holistic, bespoke solutions for high‑net‑worth clients. We partner with you and various specialists, tapping into the required resources to provide an integrated plan for your holistic financial affairs, including investments, wealth structuring and transfer strategies, proactive tax planning, and portfolio lifestyle and administration. Our level of individual attention and interaction is a defining standard in the personal service we provide. We boast a strong track record in wealth and investment management. As part of a brand that has been growing wealth for South Africans for nearly two centuries, we believe that there is no substitute for experience that comes with managing wealth through various economic and market cycles. Our team, therefore, has several decades of success and experience in successfully working with individuals, families, trusts and entrepreneurs in managing their wealth.

Contact

Contact Private Clients by Old Mutual Wealth at:

• +27 (0) 524 4678
• privateclients@omweatlh.co.za
• www.wealthprivateclients.co.za

The post Stronger Together appeared first on Stellenbosch Visio.

How did the Institute for Technology Strategy and Innovation come about?

I’m an electronic engineer by training. When I did my MBA I focused on technology strategy, and since then on how organisations can unlock technological opportunities in a rapidly changing world.

The institute was born from the fact that many business schools didn’t have off-the- shelf subjects that allowed organisations to embrace this change effectively.

But we’re not the kind of institute that opens courses to just anyone. We tailor our services to specific organisations and we act as an innovation consultancy, but in disguise. We help organisations recognise the innovative opportunities that their own staff can unlock. Our goal is to empower organisations by helping their employees drive the innovation process from within.

Why is internal motivation so important?

When people believe the ideas are theirs, they become passionate about making them happen. We provide organisations with sufficient insight into what their opportunities are, but we never complete the picture.

We draw about 80% of the circle and leave the last part for them to finish. This approach gives them a sense of ownership over the ideas. We help them to become more entrepreneurial and innovative, and most of the subjects we do you wouldn’t find in a traditional business school.

And that includes a focus on the future?

In both my academic work and my keynote presentations I focus on identifying the mega- trends shaping our world. As a futurist, this is the journey. How do you build the capacity to see the implications of change and understand the deeper patterns beneath the surface of daily news? Most headlines we see are just surface ripples of deeper ocean currents. Part of my work is identifying these currents, finding out when they shift direction and when they collide. Once we understand that, we can project some very interesting future scenarios.

What sort of timelines are we talking about here?

Research has been done on the fundamental failure of innovative ideas, and the number one reason is timing … There’s a complex dance between new technologies and markets. Take the metaverse, for example. For years, people have been talking about it, but the concept didn’t take off as expected because the key application to unlocking market uptake has not yet been tested.

Human systems are complex systems, which means that when an agent affects a change during the launch of a new technology, the market landscape reacts and changes as well. This, in turn, forces the agent to change, which means the technology landscape becomes quite dynamic once a new technology emerges. The landscape only becomes static once dominant attractors emerge, as we have seen in the smartphone and smart speaker markets.

AI IS AN UNBELIEVABLY POWERFUL TOOL FOR ENHANCING BUSINESS PRODUCTIVITY, BUT IT WILL TAKE LONGER THAN ANTICIPATED TO AFFECT ALL FUNCTIONS WITHIN A COMPANY.

Does the same apply to the current clamour around AI?

Yes and no. AI is an unbelievably powerful tool for enhancing business productivity, but it will take longer than anticipated to affect all functions within a company. When we talk about AI, it is important to view it through the perspective of the AI value chain. As each new AI model moves through the value chain, new opportunities will emerge in each stage of market development.

We will also become more realistic about the capabilities of the current foundation models, as we realise that AI can’t extrapolate; it can only interpolate. It is for this reason that in the current LLM (large language model) debate, data are driving increased functionality, not new models.

What are some of the more ‘out there’ technologies you are keeping an eye on? 

Well, why do you think five countries went to the moon in the same year? Helium-3. Nuclear fusion is the key to unlocking unbelievable economic growth throughout the world and Helium-3 is key to unlocking nuclear fusion.

There’s a huge amount of Helium-3 on the moon. The Chinese mapped these deposits back in 2014 and even brought back material from the moon recently. As space exploration progresses, with advances like Elon Musk’s Starship, space mining will be a very important part of this picture.

What about down here on earth?

We will see really interesting manifestations of current technology that will shape our future as well. Did you know that the first AI-assisted assassination happened about two and a half years ago, in Iran? It shows how existing tech- nologies can be taken in unexpected directions.

But let me give you one more interesting prediction. In the future, we believe that retailers will start using 5G ‘chicken sniffers’. It relates to how RFID technology works today. Now, imagine this applied to food packaging: a chip embedded in a package of meat that could tell you whether the meat is still fresh or not. This would reduce food waste, as sell-by dates could become more flexible.

This kind of technology is under develop- ment right now, and will only appear by around 2030. We have dozens of these examples, where we track the latest technologies and give organisations the capabilities to implement them.

How do you work with organisations to leverage these insights into future technologies?

My argument is that we can’t control the major megatrends, like geopolitics and demographic changes. As individuals or companies, our impact on these areas is limited. But we can have a huge impact by embracing technology to improve the world.

So my focus is on how organisations can harness technology in a changing world. I also work on projects that enhance the livelihoods of people in Africa, particularly in the financial and telecommunications sectors. We’re exploring which technologies we can embrace to make Africa a better, more affluent place. 

The post A Brave New World appeared first on Stellenbosch Visio.

WHETHER IT’S A RARE Irma Stern painting, a sleek 1960 Ferrari 250 GT or a prestigious bottle of 1959 Château Lafite Rothschild, collectables have long been integral to wealth creation. Today, however, the reasons behind collecting have evolved.

“We see two main types of collectors: those interested in appreciation potential and future profits, and those who collect for personal pleasure, making it a cherished part of their wealth portfolio,” explains Sarette van den Heever, Wealth Director at Private Clients by Old Mutual Wealth.

Many collectors start from a young age, nurturing their passion over years and often dedicating themselves full-time after retirement. And although it may be passion that drives these collections, it certainly doesn’t mean they lack value. “In 2023, the global collectables market was worth more than $300 billion, excluding private transactions where sales aren’t always made public,” says Sarette.

TANGIBLE ASSETS THAT TRANSCEND TIME AND MONEY

In South Africa, the top collectable categories include art, wine, classic cars, rare whisky, stamps, watches, jewellery and luxury handbags. Collectors worldwide have seen meaningful returns, with some categories appreciating more than 300% in the past decade. “Although returns in this market are volatile, with market insight and knowledge of intrinsic value, investors can achieve sizeable returns,” says Sarette.

Another consideration is tax. In South Africa, most collectables are classified as personal-use assets, which means that they are exempt of income and capital gains tax upon resale. “This is a substantial benefit, especially when an item has appreciated significantly over time,” says Sarette. Estate duty still applies when collectables are passed on as inheritance, but with careful planning these assets can be transferred to the next generation efficiently.

For most collectors, the value extends beyond monetary gains. Collectors often envisage passing down their collections, sharing a legacy and a passion from one generation to the next. “These assets are tangible; you can see, touch and even experience them – like driving a classic car. This kind of investment connects deeply to memory and personal history,” Sarette adds.

SAFEGUARDING YOUR COLLECTION

Preserving collectables in pristine condition is vital. “It starts with a detailed registry, documenting each item’s history and photographing it well,” advises Sarette. Regular expert valuations and proper storage are also essential. Wine, for example, must be kept at the correct temperature, humidity and light to retain its value. To assess the value of a wine collection, experts consider various factors like the ownership trail and transportation history. For classic cars, controlled storage environments are essential to keep them in immaculate condition. Here, experts would check aspects of authenticity, such as whether the car still has most of its original parts.

Collectables can often be vulnerable to fraud, damage and overpayment. Counterfeits, especially in art, wine and whisky, can be challenging to identify. To reduce this risk, it is essential to work with reputable partners who can authenticate items. “If you buy privately, the risk of fraud increases, but auction houses, for example, not only verify the authenticity of items, but also check ownership history and storage conditions,” Sarette advises. Overpayment is another risk, as valuations can be tricky. Once again, Sarette advises partnering with trustworthy experts to ensure you’re paying a fair price for an authentic item.

HOW PRIVATE CLIENTS BY OLD MUTUAL WEALTH SUPPORTS COLLECTORS

The family office at Private Clients by Old Mutual Wealth supports clients in managing, valuing and preserving collectables across generations. They help create and maintain asset registries and connect clients with experts for collection management.

Partnering with trusted specialists, the family office can facilitate storage arrangements, logistics, payments and administration on behalf of clients, ensuring that these valuables are properly maintained.

“When it’s time to sell or buy, we can facilitate this, although most collectors enjoy the hands-on process as it’s very personal for them,” says Sarette.

Estate planning is a critical part of Private Clients by Old Mutual Wealth’s offering.
“A ‘letter of wishes’ can specify whether items should be handed down, sold or donated, avoiding lengthy estate processes and making it easier to manage collections after the owner’s passing,” Sarette explains.

Private Clients by Old Mutual Wealth facilitates conversations between clients and their heirs early on. “This way, if the next generation isn’t interested in taking over the collection, we can help clients craft a plan for selling or donating some of the pieces before they pass away.”

PRESERVING AND PROMOTING SOUTH AFRICAN COLLECTABLES

While Private Clients by Old Mutual Wealth helps high-net-worth individuals manage and grow their investment portfolios and collections, they also promote South African and African collectables on a global stage.

“Our clients may be global citizens, but they’re South Africans at heart, deeply passionate about our heritage. As citizens of South Africa, it is our responsibility to support the growth of these asset classes and highlight them globally.”

Their support spans diverse areas, from art and wine to classic cars and fine crafts. Their initiatives encompass support for the Stellenbosch Outdoor Sculpture Trust, which makes art accessible to the public, and a partnership with the Zeitz Museum of Contemporary Art Africa (MOCAA) to elevate African artists on the global stage.

They also collaborate with The Cape 1000, a classic car run that unites enthusiasts and celebrates automotive heritage, as well as Tim Atkin, Global Master of Wine, who provides clients with valuable insights while enhancing the international profile of South African wines.

Through these efforts, Private Clients by Old Mutual Wealth celebrates South Africa’s rich heritage and ensures its collectables gain the recognition they deserve.
“Our goal”, Sarette concludes, “is to build these industries and foster a global market for these treasured assets. In the world of collectables, passion can indeed pay off, transforming hobbies into heirlooms and investments into legacies.”

CONTACT

Contact Private Clients by Old Mutual Wealth at +27 (0) 524 4678 or privateclients@omweatlh.co.za or visit wealthprivateclients.co.za.

ABOUT

Private Clients by Old Mutual Wealth offers holistic, bespoke solutions for high‐net‐worth clients. We partner with you and various specialists, tapping into the required resources to provide an integrated plan for your holistic financial affairs, including investments, wealth structuring and transfer strategies, proactive
tax planning, and portfolio lifestyle and administration. Our level of individual attention and interaction is a defining standard in the personal service we provide. We boast a strong track record in wealth and investment management. As part of a brand that has been growing wealth for South Africans for nearly two centuries,
we believe that there is no substitute for experience that comes with managing wealth through various economic and market cycles. Our team, therefore, has several decades of success and experience in successfully working with individuals, families, trusts and entrepreneurs in managing their wealth.

The post Collectables: Passion Does Pay appeared first on Stellenbosch Visio.

ORIGINATING from private banking practices in Switzerland, the concept of a ‘family office’ extends beyond just managing wealth. Sarette van den Heever, Wealth Director at Private Clients by Old Mutual Wealth, explains that it involves overseeing all associated structures, such as trusts and companies and any other entities that were created to manage a family’s wealth. And, she adds, it is there to assist every family member within these structures – from children to grandchildren – in navigating their financial landscape.

“The real benefit is having a single office look after all your affairs and truly understand how everything is interconnected and what the risks and opportunities are,” says Sarette.

This cohesive structure ensures that every aspect of wealth is aligned and managed effectively, preventing the fragmentation that can occur when multiple advisers deal with different structures.

COMPREHENSIVE SERVICES FOR DIVERSE NEEDS

The family office at Private Clients by Old Mutual Wealth offers a broad spectrum of services, including managing complex global tax structures, advising on the appropriate governance and ownership structures for the family, managing investments and handling practical administrative tasks when necessary.

“We work with multiple independent specialists that provide various services for our clients. For example, we consult tax experts in different jurisdictions as it is impossible to find one person who can advise on tax across all the different jurisdictions globally,” Sarette says. “Also, if a client has an entrenched relationship with an auditing firm, legal adviser, fund manager or tax consultant, we work seamlessly with these businesses,” she continues.

This collaborative approach ensures that clients receive tailored advice specific to their needs and locations.

PREPARING THE NEXT GENERATION

One of the most critical aspects of intergenerational wealth management is ensuring a smooth transition of wealth to the next generation. “Transferring wealth is a big responsibility. If your parents or grandparents built up wealth through a lifetime of hard work, it’s crucial for you and your siblings to become responsible custodians of that wealth.”

Understanding the history of accumulated wealth and the aspirations of the new generation is vital. “By understanding our clients’ histories as well as their future aspirations, we are exceptionally positioned to manage and grow their wealth across generations. That’s why we also enable younger generations to put their own stamp on the wealth while carefully preserving the legacy of earlier generations. Whether it’s taking over the family business, diversifying investments or setting up a foundation, we support and accommodate their goals and objectives. This is extremely valuable because we basically hold both sides of the coin.”

A practical tool that greatly assists in managing intergenerational wealth is the family constitution. “As more family members across generations start to benefit from the wealth, the family dynamics become a lot more complex. We work closely with the family to craft a family constitution. This document outlines the principles on which the family’s wealth is based, how wealth should be preserved, the roles of different family members and the ambitions for the growth of the family business and wealth,” Sarette explains.

This document should be updated regularly as family members’ circumstances, wants and needs change or when there are significant business developments.

THINKING GLOBALLY

It’s increasingly important to be able to seamlessly manage wealth beyond national borders. “While our parents and grandparents focused mainly on building wealth in South Africa, the concept of global citizenship has gained prominence,” Sarette says.

With globalisation, families are often spread across different countries, complicating intergenerational wealth management. This global perspective includes diversifying investments and taking money offshore.

“It’s not just about generating returns; it is about effective risk management and building a portfolio of assets in various currencies and jurisdictions for when you may need it. This is particularly relevant for the next generation, who may study or live overseas or for parents relocating after retirement to be closer to their children abroad. Further to this, many South African family businesses have started trading globally, and enabling them to build up a balance sheet outside of South Africa has become imperative to ensure long‐term sustainability.”

Managing offshore investments, trusts and tax on a global basis has its own distinct challenges. “We have the expertise to navigate these complexities to ensure compliance and to optimise the benefits for our clients,” Sarette explains.

“Managing intergenerational wealth demands a holistic and integrated approach. By providing a family office, we at Private Clients by Old Mutual Wealth ensure that every aspect of a family’s financial landscape is considered and managed effectively. This approach helps preserve legacies while empowering the future generations to build upon them,” she concludes.

More Information

Contact Private Clients by Old Mutual Wealth at privateclients@omwealth.co.za or
+27 (0)21 524 4678 or visit wealthprivateclients.co.za.

The post Nuturing Family Wealth appeared first on Stellenbosch Visio.