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MANAGING PERSONAL FINANCES REQUIRES PARTNERSHIP
By Suzean Haumann, Brenthurst Wealth Management
A financial plan is not all about returns. Yet many investors focus on this aspect with at times scant regard for the other components required for a comprehensive, long term financial plan for sustained financial health. Furthermore, they often don’t accept or acknowledge their own responsi-bilities in an advisor/client relationship.
Life’s little curve balls have a tremendous impact on holistic financial plan-ning. Events such as death, divorce, career changes, illness, disability or a family member becoming a dependent are crucial factors that can have financial implications that may derail investment, retirement as well as long-term insurance plans.
These kind of changes to a person’s situation must be shared with his/her financial advisor as it will, in most cases, require adjustments to the in-vestor’s financial plan and may even have an impact on investment selection.
For instance, a recent case study about the client/advisor relationship report-ed that pertinent medical information regarding a family member only came to light after the passing of the investor who was the main breadwinner. As this information was not shared upfront or during the investor/advisor relationship of several years, the person’s financial plan was not adequately positioned to provide for his family’s physical and medical needs after his passing. His widow was forced to return to work, sell their family home and move into a much smaller property in order to make ends meet.
EXAMPLES OF INFORMATION THAT NEEDS TO BE DISCLOSED TO AN ADVISOR FROM THE GET-GO INCLUDE:
► PERSONAL CIRCUMSTANCES: It is important to always inform an advisor of any changes in your personal circumstances. For example, any employ-ment changes or loss of employment, death of a spouse, a marriage or a divorce. In many instances clients neglect to inform advisors of the birth of a child or grandchild or a divorce, which could result, for instance, in a will not being updated and no longer relevant to their latest wishes. Small things like the change of contact details like an e-mail address or mobile telephone number, can result in an investor or client not receiving his or her portfo-lio reviews, updates about legislative or tax changes or any other important communication from their financial advisor.
► DEBT: In any form (good or bad) must be openly discussed along with the applicable interest rate attached to that debt. In many instances it would be a better idea to pay off debt first before saving monthly due to high interest rates. Bad debts are debt such as credit cards, personal and study loans. Good debt would be loans for acquiring assets, such as a property. Vehicles are not assets and are there-fore are also categorised as bad debt.
► MEDICAL CONDITIONS: Should any family member suffer from medical (including psychologi-cal) conditions that have an impact on their quality of life or might prohibit them from being able to care for themselves or ever being able to earn an income, it must be disclosed. The advisor needs to make sure that guidance is provided in the proposed financial plan about how to make provisions for such family members after the bread-winner or principal investor’s passing, or in the event that the investor loses the ability to earn an income, to provide the required medical or physical care.
► FAMILY MEDICAL HISTORY: Clients forget that although they are currently healthy, there might be risks factors like a family history of cancer, diabetes, cholesterol problems or heart disease. If this is not disclosed the proper amount of life insurance and other long-term insurance needs, such as critical illness or disability cover, might be insufficient in the future.
► NOT DISCLOSING COMPLETE INVESTMENT AND LIFE INSURANCE PORTFOLIOS: by not disclosing all investments it will mean that the advisors do not have the “full” picture. This can have the effect of over-exposure to one asset class or one investment structure or not fully utilising tax-efficient investing, such as a retirement annuity and annual tax-free savings investment contributions. It might entail that the investor is over or under insured in terms of long-term insurance and the required income protection or income replacement policies.
These topics, especially round health and personal issues, are not easy or pleasant to discuss and make most investors quite uncomfortable, but it is of utmost importance to do so. Advisors are trained and committed to serve clients’ best interests, clients must deliver on their responsibilities in terms of full exposure to secure the best possible, most suitable long term financial plan.
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Megan joined the Brenthurst Wealth team in March 2026 as an Administrative and Fiduciary Services Assistant at our Val de Vie Office in the Western Cape. Prior to joining Brenthurst, Megan gained three years of experience in the retail sector, where she developed management and client service skills.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Esmarelda Isaacs-Andreas joined the Brenthurst Wealth Stellenbosch office in October 2025, taking on the dual role of Receptionist and Fiduciary Administrator.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Ashley joined Brenthurst Wealth in January 2025 as Office Administrative Assistant and Receptionist for the Stellenbosch Office.
René Heystek joined Brenthurst Wealth in November 2023, as receptionist and administrative assistant in the newly established George/Garden Route office.
Michelle Heystek has built a career in the financial services over the last two decades, after obtaining her B.Com degree in Financial Management in 2005. Once she joined Brenthurst in 2006, she continued her academic journey, obtaining her Certificate in Wealth Management from INSETA in 2007, followed by a Postgraduate Diploma in Financial Planning from the University of the Free State. In 2008, she earned the Certified Financial Planner (CFP®) designation.
Anelle joined Brenthurst Wealth as a Receptionist and Administrative Assistant to Brian Butchart in the Cape Town office in December 2023. She has a wealth of knowledge from working as a liaison between Financial Advisers and clients at TMA and Absa Investment Management Services (Aims) since 1998. She obtained her B. com degree from the University of Port Elizabeth in 1997.
ADMITTED ATTORNEY | FINANCIAL PLANNER & HEAD OF BRENTHURST FOURWAYS
Sanet was appointed in April 2020, joining our Cape Town team as an Executive Administration Assistant to Renee Eagar. She has been in the financial services industry since 1990. Her previous experience includes positions at Sanlam, BJM and ABSA. She spent her last 12 years working at Alexander Forbes Private Client Wealth as a Senior Wealth Management Assistant. She has received numerous accolades over the years which include but not limited to, Alexander Forbes Client Service Excellence – Silver award in 2014,2015 and 2017. Sanet has also obtained her Certificate in Wealth Management (NQF 5) in 2012 and achieved “Best Student of the Year” from Moonstone.
Maria Smit is a Certified Financial Planner® with over 10 years of experience in the financial planning industry.
