A complete financial needs analysis was all it took to give Amy Trout, who hails from Cape Town, financial freedom when she walked away with the R1 million prize offered by Liberty’s Get A Plan, Get A Prize competition.
It is no secret that South Africans don’t save enough and that, when it comes to retirement, far too many people are left with insufficient funds to maintain their standard of living. The Liberty Get A Plan, Get A Prize initiative aimed to educate South Africans about the value of getting proper financial advice and to motivate them to take control of their finances.
To qualify for the lucky draw competition, entrants had to obtain a complete financial needs analysis (FNA) from an accredited Liberty financial adviser. “This process enabled individuals to gain an understanding of the importance of having financial goals and developing a financial plan, as well as to determine whether they had any gaps in their existing cover,” said Frank Schütte, Director of Sales Strategy and Enablement at Liberty. “However, entrants were under no obligation to purchase or invest in any financial product. We were simply trying to highlight the value and importance of financial advice,” he added.
Amy’s financial plan was drawn as the ultimate winner, giving her a once-in-a-lifetime prize valued at R1,000,000. Of this, R500,000 will be invested in a Liberty product of her choice and the balance of R500,000 will be paid as a cash lump sum. Had Amy supplied her financial adviser with five prospects/referrals as part of her entry she would have won an additional cash pay-out of R200 000.
Around the world, time and time again, people name financial independence among their top priorities and goals. Yet so many fall short of this goal, often thanks to poor or no financial planning. “This competition was a great platform for people both young and old, no matter what their financial situation is, to start making serious decisions about their finances that will help secure a better future for themselves and their family,” said Schutte.
“I’m so excited, honoured and truly thankful for winning the R1 million prize – it’s still so surreal,” said Trout. “I’m now in a position to renovate my mom’s home as well as enjoy some travelling, which has always been a desire of mine and has now been made possible by Liberty.”
“Thus far, 2012 has been a big year for me as I left my job to live my dream in becoming a Theatre actress, which unfortunately has taken a toll on my finances. However, with the assistance of my financial adviser, Garth Bruwer and the winnings from Liberty, I’m able to secure my future by investing in selected funds, providing me with both long-term and immediate financial security,” concluded Amy with a smile.
This is the third time that the Get A Plan, Get A Prize competition has been run by Liberty. It was once again very well received, with thousands of entries being received between October 2011 and the end of February 2012. This highlights that South Africans are eager to learn more about their financial wellbeing and, through the competition, thousands of individuals and their families are now in a better position to start owning their lives. Get A Plan, Get A Prize has provided them with the knowledge to assist them with the next steps in their financial journey.
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