Charting the future of advice: how planners are preparing
As the financial services industry continues to evolve, financial planners are navigating a complex landscape shaped by new legislation, emerging technologies, shifting client expectations, and economic uncertainty.
FAnews spoke with three financial planning professionals - Bryan Nicol, Lifestyle Financial Planner at Freedom Financial Planning, Rudolph Geldenhuys, 2024 Financial Planner of the Year and Director at Firecrest and Terence Tobin, Director of Financial Planning at Rich Ideas Group to explore how they are preparing for 2026 and beyond.
Their insights reflect a profession that is rapidly moving away from product-centric models toward more holistic, personalised, and values-driven partnerships with clients.
Here are some of the key themes that emerged in those conversations.
The Two-Pot System
The introduction of South Africa's Two-Pot Retirement System, allowing limited pre-retirement access to savings, has sparked intense debate. But for all three experts, the consensus is clear: education, discipline, and planning are vital.
Tobin frames it simply: “It’s like borrowing from your future self - and you need to pay yourself back!” He encourages clients to “focus first on building a separate emergency fund, so retirement savings stay untouched,” and stresses that financial planners must “provide compassion and understanding... and educate our clients on the decision to access these funds earlier than retirement.”
Geldenhuys agrees: “It boils down to this: as the financial planning partner in the lives of our clients, we need to guide them to use their savings pot wisely without compromising their future security.” He highlights emergency funds as an essential alternative: “It brings breathing room and peace of mind... and creates distance between a client and new debt.”
Nicol says the key lies in showing the real impact. “We revisit their plan and look at what impact that decision may have on their future. We do this using a cashflow planning tool, which graphically displays the impact of the decision. The client can then make an informed decision or consider another trade-off.”
Connecting with the next generation
Millennials and Gen Z are demanding financial advice that is accessible, transparent, and relevant to their lives now, not just decades down the line.
“I meet them where they are - online,” says Tobin. “I use short videos, WhatsApp chats, and simple app-based tools.” He focuses on small, relatable wins like “saving for a trip or paying off debt” to build trust and momentum.
Geldenhuys sees this shift as an opportunity: “They live online, so we need to be there too, offering value in ways that resonate with them.” He notes that it’s not about pushing a distant goal but showing how planning “fits into their life now.”
Nicol notes that adapting to digital-first expectations has become essential. “We are a purely virtual (digital) business, with client relationships maintained online.” Meetings are conducted via Zoom or Teams, and he highlights the use of high-quality audiovisual setups to enhance the experience. AI-powered tools are also used to record and summarise meetings, providing clients with immediate action points. He observes that many clients, especially younger ones, “prefer to pay for advice directly” and value a process that is collaborative and tech-enabled.
Financial coaching
As financial advice becomes more personalised, coaching has become a powerful tool to deepen client relationships.
“Financial planning answers ‘what’ needs to happen. Financial coaching digs into ‘why’ it matters and ‘how’ to stay on track,” says Tobin. “I help clients uncover their money habits, set behaviour goals, and celebrate small wins... our motto is people first, not policy sales.”
For Geldenhuys, coaching is not optional: “Clients want more. Clients need more. They are in desperate need of and urgently looking for transformational relationships.” He adds, “The core competencies of coaching align with who we are... It’s about walking alongside clients, helping them develop the skills and mindset to make good financial decisions.”
Nicol echoes this sentiment. “They are the experts on themselves,” he says. “We don’t plan for the client; we plan with the client. There is a difference.” This co-creative process is empowering and effective: “They help find the solution... they implement their plans... and this leads to better outcomes.”
Embracing AI and automation
Technology is enhancing - not replacing - the human side of financial planning. All three professionals are leveraging AI and automation to streamline operations and personalise client interactions.
“I use many of these tools to track goals and spot when someone might need a tweak to their plan,” says Tobin. “Ideally, it means I spend less time on admin and more time giving thoughtful, personalised advice.”
Nicol explains that AI is now fully integrated into his day-to-day client interactions. “We record all meetings using an amazing, and secure, AI notetaker... It automatically transcribes all calls... and prepares an email for the client.” This, he says, significantly boosts efficiency and allows more time to be spent on meaningful, personalised planning.
Geldenhuys views tech as a path to balance: “It’s about using these tools to create organisational efficiencies... which ultimately frees us up to spend more time with clients - or to be more available for our family and our kids.”
Building lifelong relationships
Sustainable financial planning hinges on lasting relationships that adapt as clients grow. Tobin maintains these ties through “WhatsApp updates, check-ins, and quick articles” and positions himself as “a thinking partner.” His goal: “collaborate on their planning — it is a journey, not an event.”
Geldenhuys underscores the importance of relevance: “A formal, annual financial planning review is probably not what a next-gen client is looking for. But a quick 20-minute call... will move the needle significantly.”
Nicol describes a structured and intentional engagement model. “Clients get two key engagements a year – a planning meeting and a review meeting.” These sessions are planned well in advance and are supported by surveys designed to “gauge their level of financial confidence.”
Staying the course amid market volatility
All three planners agree that economic uncertainty is inevitable - and manageable.
Tobin builds “a margin of safety and margin of error” into every plan. “We also plan for ‘what if’ scenarios - so when life gets bumpy, clients stay calm and focused.”
Nicol’s strategy is clear: “Our process encourages the client to focus on the few things they can control... and stick to the plan.” He emphasises that “showing versus telling is impactful,” especially when illustrating the trade-offs of instant gratification.
Geldenhuys cautions against reactive changes. “If the needs of my client have not changed, why change their financial plan because the market has shifted in the short term?” His focus is on the human side of money - “the emotions, biases, blind spots, the hopes, dreams and aspirations, including the fears of our clients.”
Challenges and opportunities on the road to 2026
Looking ahead, all three professionals acknowledge the dual realities of a rapidly changing landscape: the promise of innovation and the pressure of uncertainty. “Who knows what will happen next week, let alone 2026!” says Tobin. “The biggest challenge is helping clients stay focused when life moves faster and feels more uncertain... The biggest opportunity is using tech and coaching to make financial planning simpler, more personal, and more flexible.”
Nicol is optimistic about the future of client-centric planning. “The public is growing increasingly wary of product-centric financial advisers. This presents an excellent opportunity for client-centric advisers to have meaningful, impactful relationships.”
But he also warns of regulatory and economic headwinds. “Staying on top of legislative developments is going to remain a priority... our economy is stagnant. This poses a challenge to all local businesses, not exclusively to financial advisers.”
Geldenhuys concludes with a powerful reminder: “As life becomes more digital, technical and complex, the opportunity lies in becoming more human.”
Writer’s Thoughts
As the financial planning landscape shifts towards a more holistic, tech-enabled approach, it’s clear that the future will belong to those who can blend innovation with human connection. The real challenge—and opportunity—lies in maintaining meaningful, values-driven relationships in an increasingly digital and uncertain world. Please comment below, interact with us on Twitter at @fanews_online or email me your thoughts [email protected]
