Ten minutes with Jurie Strydom

Sanlam Intelligence interviewed Jurie Strydom, chief executive of Sanlam Personal Finance, to find how financial advisers and their offering have evolved over the last few decades.

Q: As you mentioned in your welcoming address at the 2017 i3 Summit, these are times of increased uncertainty. What are the key messages any adviser should convey to clients who might feel they’re currently ‘in the floodplain’?

A:  There is indeed uncertainty and volatility. This is a global phenomenon and not purely a South African or even an emerging market issue. We live in a world where complexity is likely only to increase, reducing predictability. It is in these times that investors and their advisers should be focused on the long-term outcomes that meet individual client needs, and resist the temptation to allow fear to drive short-termism. Clients look above all for an objective and realistic perspective to counter the constant bombardment of often negative media sentiment.

Q: In which areas of financial planning can advisers add the most value, and why?

A: Our research of global regulatory and industry trends shows that in many ways advice is becoming more valuable, not less so. Clients place tremendous value on being able to place their trust in a financial adviser who considers individual circumstances and gives careful thought to outcomes. In the process, questions of inflation-adjusted returns, risk appetite and diversification are important. The goal of picking fund winners over a short time horizon is increasingly being approached with caution.

Q: The life of a financial planning professional is one of constant learning and development. Which are the key skills you think financial planners should focus on right now?

A: Many financial planners are paying particular attention to technology and the development of their practices in the digital world. Digital technologies create the opportunity for a better client experience and a more successful financial planning business.

Q: If you had to choose only one savings or investment product that has changed clients’ lives for the better, which one would it be?

While not new, the living annuity has become the vehicle by which many clients are able to secure and grow their retirement provision, accessing a wide range of investment opportunities, while already drawing for their needs.

Q: What are the most significant ways in which Sanlam has had to adapt to local and global trends over the past decade?

A: Sanlam has firstly thrived by focusing on doing the basics well, keeping intermediary support and client service at the top of its agenda. With that as foundation Sanlam has been able to grow Glacier into one of the leading investment platforms in the market, with commitment to an open architecture of best-of-breed solutions and service excellence, backed by one of SA’s most trusted insurance and asset management brands.

Q: What do you think is the greatest contribution that Sanlam has made to the field of financial planning and growing clients’ wealth?

A: Consistency has been the hallmark of Sanlam’s approach over almost 100 years. Clients know they can trust Sanlam to do the right thing and deliver excellence. Over the long haul this the most important role of our financial institutions and makes for a more prosperous society.