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Financial freedom is available to those who learn about it and work for it.
- Robert Kiyosaki
Editor’s V I E W
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Building Resilience in South Africa’s Financial Future
Resilienceandinnovationarecornerstonesofthefinancialsectorto
achievesustainedgrowthandenhanceclienttrust.AtthecenterofSouth Africa'sfinancialservicesindustry,certaincompaniesareshapinga futuregroundedinintegrityandcustomer-centeredvalues,risingtomeet challengesandopportunitieswithunwaveringcommitment.Thesecompanies harnessadvancedtechnologieswiththehelpofdigitalizationtooptimizeclient experiences,balanceoperationalefficiencies,andadapttoevolvingclientneeds.
Thejourneyofthisfeaturedfinancialserviceprovidercompanyisn’tmerely aboutmeetingindustrystandards;it’saboutsettingnewbenchmarksin transparency,security,andservice.Byprioritizingethicalpractices,thecompany hascultivatedenvironmentswhereclientsfeelassuredandsupported,fostering enduringrelationshipsbasedontrustandreliability Thisforward-looking approachhasallowedittoremainagile,cateringtodiverseeconomicdemands andinstillingconfidenceinitsclientsandstakeholders.
Thecompanyfeaturedinthiseditionistheleadingcompanyinfinancialservices andrepresentsasteadfastdedicationtoreshapingSouthAfrica'sfinancial industry.Ithasconsistentlyshownasteadfastcommitmenttodelivering personalizedsolutionswhileupholdingthehigheststandardsofaccountability.Its influencewithinthesectorhasinspiredanecosystembuiltontrust,innovation, andenduringrelationships.
Wearehonoredtocelebratethisrenownedcompany,EverestWealth,inour editionofInsightsSuccess,SouthAfrica’sMostTrustedFinancialService Providerof2024.Withacommitmenttoexcellence,EverestWealthspecializes inpersonalizedinvestmentstrategies,assetmanagement,financialplanning,and retirementsolutions.Thefirmcombinesdeepindustryexpertisewithaclientcenteredapproach,ensuringeachportfolioistailoredtomeetindividualneeds andobjectives.Throughinnovative,forward-thinkingstrategies,EverestWealth isfocusedondeliveringsustainablegrowth,security,andfinancialfreedomtoits clients,whilemaintainingthehigheststandardsofintegrityandtrustinall interactions.
Haveagreatreadahead!
08. F E A T U R I N G
Everest Wealth
Simplifying Financial Journeys with Personalized Investment Strategies
A R T I C L E S
16. 20.
Hidden Costs of Financial Literacy: Why Knowledge isn't Always Power
The Rise of Digital Nomad Banking: Financial Services for the Location-Independent Lifestyle
Jarryd Gillmer Group CEO Everest Wealth
Everest Wealth is strategically preparing for key trends in the financial services industry, notably the integration of blockchain technology and tokenization. ‘ ‘
Balancing Performance Stability and Outperformance for Lasting Success!
Currently,itischallengingtooverestimatethe
significanceofhavingaguidingprincipleinasset managementwhenthefinancialdomainchanges likedesertsands.Withoutacompass,manypeopleand companiesfindthemselvesnavigatingchallenginginvesting terrains,whichfrequentlyresultsinlostchancesand unrealizedpotential.
Therightfinancialpartnercanchangelivesandnotjust portfoliosbyilluminatingpathstowealth.Thisbusinessis revolutionizingwealthmanagementbyemphasizing creativeapproachesandindividualizedcare,makingsure thatcustomersfeelknowledgeableandincontroloftheir financialpaths.
Foundedin2002,EverestWealthhasevolvedsignificantly sinceitsinception,particularlyafteratransformative reimaginingin2016.Thefirmrecognizedthattoenhance clients'financialjourneys,itneededtooffernotjust traditionalinvestmentoptionsbutalsouniqueinsightsand differentiatedproducts.
EverestWealthspecializesinalternativeinvestmentsthat mitigatemarketvolatilitywhileprovidingstablereturns.By combininginnovativefinancialsolutionswithcarefully curatedfunds,theyempowerclientstonavigatetheir financialgoalswithconfidence.Theircommitmentto holisticinvestmentmanagementemphasizesboth performancestabilityandoutperformance,fosteringlongtermrelationshipsbuiltontrustandintegrity.
UndertheleadershipofJarrydGillmer,theGroupCEO, EverestWealthaimstochallengeconventionalwealth managementparadigms,ensuringthateveryclient’s experienceisasenrichingastheoutcomestheyseek.
Let’s know more about Everest Wealth’s journey:
AVisionaryinWealthManagement
JarrydGillmerservesastheGroupCEOofEverestWealth, whereheisdedicatedtotransforminghowclientsperceive andmanagetheirwealth.Hisapproachemphasizesthatthe journeyofwealthmanagementisascrucialastheoutcome.
Drivenbyacommitmenttochallengetraditionalwealth creationandpreservationmethods,Gillmerhascultivateda passionforalternativeinvestments.Thisfocushasledto numeroussuccessfullocalandinternationalpartnerships, providingdistinctiveinvestmentproductsandtailored portfoliosolutions.
Hisextensivefinancialplanningandinvestment managementexpertisepositionshimasaleaderinthe financialservicesindustry,whereheaimstoempower individualsandbusinessestoachievetheirfinancial aspirationsthroughinnovativestrategiesandexceptional service.
ATransformativeJourneyinWealthManagement
Foundedin2002,EverestWealthhasastoriedhistorythat tookapivotalturnin2016.Theleadershiprecognizedthe needtoenhanceclientwealthmanagementbyoffering innovativeinsightsanduniqueinvestmentopportunities. Thefirmspecializesinsoundinvestmentmanagement, aimingforstablereturnsoverthemediumtolongterm.
Itsalternativeinvestmentoptionseffectivelymitigate traditionalmarketvolatility,creatingexcellentwealthbuildingopportunitieswithinresponsiblymanaged portfolios.Bycombiningprovenfinancialsolutionswith carefullyselectedfunds,EverestWealthtailorsinvestment strategiesthatalignwithclients'financialgoals.
Everest Wealth is dedicated to making a positive societal impact through various corporate social responsibility initiatives.
Thiscommitmenttopersonalizedserviceandstrategic planninghaspositionedEverestWealthasaleaderinthe industry,dedicatedtoempoweringindividualsand businessesontheirfinancialjourneys.
DistinctiveFeaturesinFinancialServices
EverestWealthdistinguishesitselffromotherfinancial serviceprovidersinSouthAfricathroughitsholistic approachtoinvestmentmanagement.Thefirmprioritizes bothstabilityofperformanceandoutperformance, integratingtheseelementsratherthantreatingthem separately Theirmissionfocusesonempowering
individualsandbusinessestoreachtheirfinancial objectivesviapersonalizedandinnovativewealth managementsolutions.
Keytotheirsuccessisacommitmenttoexceptional service,fosteringlong-termrelationshipsgroundedintrust, integrity,andexcellence.
EverestWealthenvisionsafuturewherefinancialsecurityis attainableforall,leveragingindustryexpertisetobecome thego-tofirmforcomprehensivefinancialguidance.Their uniqueofferingsincludealternativeinvestmentsthat mitigatetraditionalmarketvolatility,providingclientswith tailoredstrategiesdesignedtoenhancewealthcreation whilemaintainingafocusonstabilityandresponsible management.
DistinctiveFeaturesinFinancialServices
EverestWealthdistinguishesitselfintheSouthAfrican financialserviceslandscapethroughitsholisticinvestment managementapproach.Unlikemanycompetitors,it integratesstabilityofperformancewithoutperformance, ensuringthatclientsreceivecomprehensivefinancial guidancetailoredtotheiruniqueneeds.Thefirm’smission revolvesaroundempoweringindividualsandbusinessesto achievetheirfinancialaspirationsthroughinnovativeand strategicwealthmanagementsolutions.
CentraltoEverestWealth'sphilosophyisitscommitmentto exceptionalserviceandfosteringlong-termrelationships groundedintrustandintegrity.Thecompanyaimstomake financialsecurityaccessibletoeveryone,leveragingits expertiseinalternativeinvestmentstomitigatetraditional marketvolatility
Byabsorbinginitiationfees,Everestensuresthatclients' investmentsareimmediatelyproductive,reflectingits dedicationtoclientsuccessandsatisfaction.Thisunique blendofpersonalizedserviceandstrategicinnovation positionsEverestWealthasaleadingchoiceforthose seekingreliablewealthmanagementsolutionsinSouth Africa.
EnsuringTaxEfficiencyinInvestments
EverestWealthemphasizestheimportanceofinvestment structurealongsideuniquestrategiestoenhancetax efficiencyforitsclients.Byprioritizingdividendreturns overotherformsofincome,thefirmenablesclientsto benefitfromalowereffectivetaxrate.Thisapproachnot onlyresultsinafixedtaxratebutalsoprovidesmore predictablereturnsaftertaxesandfees.
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‘ Everest Wealth is dedicated to enhancing client trust and transparency by actively incorporating client feedback into its service offerings.
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Additionally,sincedividendsaretaxedatalowerrateof 20%forindividualsand0%forcompanies,clientscan enjoygreaterfinancialclarityandstability.EverestWealth’s strategiesaimtocreateaclearandeffectiveinvestment journey,ensuringoptimaltaxmanagementforinvestors.
SpecializinginAlternativeInvestments
EverestWealthspecializesinalternativeinvestments, focusingonprivateequityandprivatedebt.Theseasset classesaredesignedtomitigateexposuretotraditional marketvolatility,offeringclientsopportunitiesfor uncorrelatedinvestmentsinprivatecompanies.This strategyfostersadiverseportfoliothatenhancesoverall stabilityandgrowthpotential.
BuildingClientTrustThroughTransparency
EverestWealthprioritizestransparencyandtrustby ensuringthatallfinancialadvisorsundergorigorousand ongoingtrainingandaccreditation.Thiscomprehensive processequipsthemwithextensiveknowledgeofthefirm’s investmentsolutions,enablingthemtoprovideclientswith accurate,reliableinformationandsoundadvicetailoredto theirfinancialneeds.
RiskManagementinAlternativeInvestments
EverestWealthadoptsarigorousapproachtorisk managementinitsalternativeinvestments.Allfinancial advisorsreceiveextensiveinitialandongoingtraining, ensuringtheypossessadeepunderstandingofinvestment products.Thisequipsthemtoprovideclientswithaccurate, reliableadvice,fosteringinformeddecision-makingand minimizingpotentialrisksintheirportfolios.
IncorporatingClientFeedback
EverestWealthisdedicatedtoenhancingclienttrustand transparencybyactivelyincorporatingclientfeedbackinto itsserviceofferings.Thefirmensuresthatallfinancial advisorsreceiveextensivetraining,enablingthemto communicateclearlyandguideclientsthroughoutthe
investmentprocess,fosteringadeeperunderstandingof theirfinancialoptions.
LeveragingTechnologyforEnhancedFinancialServices
In2024,EverestWealthbegandevelopingauniqueend-toendclientexperiencethatenhancesbothpre-investment adviceandpost-investmentjourneys.Byembracing evolvingtechnology,thefirmaimstoimproveaccessto financialadviceandinvestments,ultimatelyenrichingthe overallclientexperienceandfosteringstrongerclient relationships.
NavigatingChallenges
EverestWealthfacessignificantchallengesinthecurrent SouthAfricaneconomicoutlook,characterizedbyhigh inflationandsocialinstability.Toaddresstheseissues,the firmfocusesonprivateequityandprivatecreditasset classes,whichprovidedualbenefits:generatingreturns whilepositivelyimpactingthelocaleconomy
Despiteableakeconomicenvironment,EverestWealth leveragesSouthAfrica'sentrepreneurialspiritandrobust privatesectortoidentifygrowthopportunities.Byadapting itsinvestmentstrategiestoincludealternativeassets,the companyaimstoofferstabilityandresilience,ensuring clientscannavigatemarketvolatilitywhilecontributingto economicdevelopment.
MeasuringClientSatisfactionandSuccess
EverestWealthmeasuresclientsatisfactionthrougha structuredengagementmodelinvolvingadiverseteamof professionals.Advisorsconnectwithclientsbefore investments,whileinternalliaisonsassistduringthe applicationprocess.
Post-investmentspecialistsensureongoingsupport, enablingcontinuouscommunication.Thiscomprehensive approachallowsEverestWealthtoidentifyopportunities forenhancingclientsatisfactioneffectively.
CommitmenttoCorporateSocialResponsibility
EverestWealthisdedicatedtomakingapositivesocietal impactthroughvariouscorporatesocialresponsibility initiatives.Thekeyinitiativeincludes:
Investing in Youth:Wherethefirmcollaborateswith partnerslikeToerbroerstoempowertheyoungergeneration
‘ ‘ ‘ ‘
Everest
Wealth measures client satisfaction through a structured engagement model involving a diverse team of professionals.
througheventsanddiscussionsaimedatfosteringabrighter future.
Job Creation and Economic Development:Byleveraging itsprivateequityandalternativeinvestmentdivisionsto createjobopportunitiesandstimulateeconomicgrowth withincommunities.
Building Positive Relationships:Byengagingwithclients andthoughtleaders,fosteringanenvironmentthatsupports development,learning,andsharedsuccess.
TheseinitiativesreflectEverestWealth'sunwavering commitmenttocontributingmeaningfullytosocietywhile activelyengagingstakeholders,showcasingitsdedication tobothfinancialsuccessandsocialresponsibility
AnticipatingFutureTrends
EverestWealthisstrategicallypreparingforkeytrendsin thefinancialservicesindustry,notablytheintegrationof blockchaintechnologyandtokenization.Thisemerging trendisoftenmisunderstoodasmerelyrelatedto cryptocurrency,butitencompassesabroaderscopethat enhancesinvestmentaccessibilityandreducescosts.
Recognizingthepotentialofthesetechnologies,Everest Wealthensuresthatitsinvestmentofferingsarecompatible withevolvingplatformsastheydevelop.Byembracing blockchainandtokenization,thefirmaimstostreamline processesandexpandtheinvestmentuniverse,makingit moreinclusiveforclients.
Asthemarketfortokenizedassetscontinuesto grow—projectedtosurpassUSD10trillionby 2030—EverestWealthispositioningitselftoleveragethese advancements,therebyenhancingitsservicedeliveryand clientengagementinanincreasinglydigitallandscape.This proactiveapproachreflectsthefirm’scommitmentto stayingaheadofindustrychangeswhileproviding innovativesolutionstoitsclients.
Hidden Costs of Financial Literacy: Why Knowledge isn't Always Power
Financialliteracyisimportantforeconomic
welfare-teachingpeoplehowtomanage money,budget,andinvestinresponsible ways.Thebenefitsoffinancialliteracystandwell established.However,ifthereisknowledge,does thatnecessarilytranslateintoempowerment?There arecoststofinancialliteracy,fortheindividualand society-anumberofwhichIshallclarifyinthe courseofthepaper.
1.InformationOverloadandParalyzing Choices
Learningaboutfinancesisanunintended consequenceofinformationaloverload.Anew financialliteratetypicallytacklesavarietyof concepts,mostofwhichcomeintwobroad categories:knowledgeorchoiceoverload. Compoundinterest,investmentdiversification, taxes,andretirementaccountsoftenseemlikean endlesslistofabstractionsthatleaveoneunableto makefinancialdecisions.ResearchatHarvard BusinessSchoolalsostatesthattoomanyfinancial optionsreducethechancesofproactivefinancial choices.
2. PsychologicalStressandAnxiety
Knowingtherisksinvolvedinpoorfinancial decisionsandtherewardsthataccompanybetter financialdecisionsisonethingthatmaycausealot ofstress,especiallytothosewithlimitedresources. Afterpeoplebecomefinanciallyliterate,they realizetheirfinancesareprecarious.Hence,anxiety increasesinplanningfinancesduetothehigh probabilityoffinancialcrashesassociatedwith suchprecariousfinancialsituations.TheConsumer FinancialProtectionBureau(CFPB)reportedthat thefinanciallyliterateknowwhatmaygowrong betterthanotherpeople.Thisknowledgeisperhaps agoodthingaboutplanningbutalsolaysonthe shouldersofpeoplelivingpaychecktopaycheck relentlesspressureovermentalstrainduetonot
makingthebestpossiblefinancial choices.Thisisunrealisticgiven economicuncertainties.
3.InequalityandLimitedAccessto Resources
Financialeducationdoesnotsolvethe structuralbarriersthatpreventmost peoplefrombecomingeconomically secure.Whilesomewouldbecome responsiblestewardsoftheirfinancial lives,anunluckyfewwillnotbedueto alackofaccesstoinvestments, availableloansatreasonableinterest rates,andretirementplans.Financial literacyprogramsfocusonpersonal behaviorbutdonotaddresssystemic ones,suchasstagnantwagesand predatorylendingpractices.Areport fromtheBrookingsInstitution indicatesthatwhilefinancialeducation isbeneficial,itcannottakeoverfor policyreformsnecessarytoaddress issuesconcerningincomeinequality
4.FalseandRiskyInvestments
Increasedfinancialknowledgecan sometimesbreedoverconfidencein individualstowardtheirabilitytofind theirwaythroughcomplexfinancial productsandmarkets.Badbehavior maythenfollowintheguiseoftaking speculativeinvestmentsorhighleveragetrading.Suchaninvestment ortradingstrategymaybecatastrophic inthelongrun.TheJournalof FinancialEconomicsshowsthatthose withhighlevelsoffinancialliteracy haveahighertendencytoengagein high-riskinvestments.Iftheyare inexperiencedinmanagingrisk,the resultmay,intheend,leadtobeing counterproductive.
5.
EmphasisonIndivisibility
Financialliteracylessonsteachselfsufficiencymoreoftenthannot,andto alargedegree,thatwhichisweakhere ispersonal.Anemphasisonindividual responsibilitymayalsoshiftthe spotlightelsewherefromsystemic
reformsthatmighthavetotakeplace toopenaccesstohousing,healthcare, andeducationtomorepeople.For example,NPRrevealsthat overstressingpersonalfinance educationsometimesletsinstitutions offthehookforcreatingfairerfinancial systems,leavingthetasktoindividual personstonavigateincreasingly complexeconomies.
Conclusion:BalancedApprancial Empowerment
Financialliteracyisanimportant value,yetithaslimitations.Accessto resourcesandappropriatesupport systemsarecomplementaryto attainingtrueempowerment,along withfinancialliteracy.Noticingthe costandthepsychologicaleffectof financialliteracyonpeoplemayassist educatorsandpolicymakersin reachinganoptimalbalancebetween individualempowermentandstructural change.Financialliteracyempowers anindividual;however,ifthese benefitscannotbewithinthereachof many,far-reachingreformsare inevitable.
The Rise of Digital Nomad Banking: Financial Services for the Location-Independent Lifestyle
Asthewaytoworkchangesthefaceof
globalemployment,agrowingnumberof employeescalleddigitalnomadsare changingthebookontraditionalbanking.Digital nomadsareworkerswho,byembracingthebest utilitiesoftechnology,canfreelyworkandtravel betweencountries.Theyfacedistinctfinancial issuesthattraditionalmodesofbankinghardly cover.Whetheritbemultiplecurrencies,crossbordertransactions,ormobilefinancialsecurity, thebankingofdigitalnomadsisevolvingtoward providinglocation-independentfinancialservices thatmatchtheworldinwhichwelive.
1.BorderlessAccountsandMulti-Currency Solutions
Borderlessaccountsaregenerallyavailablefrom onlytraditionalbankswhichmaymake internationaltransactionscumbersomeand expensive.Severaldigitalnomadbanks,including WiseandRevolut,offermulti-currencyaccounts whereindividualscanhold,exchange,orsend moneyinmultiplecurrencieswithfewerfees. Withcompetitiveforeignexchangerates,such platformscanbeaviablealternativeforthosewho needtoworkwithclientsorcompaniesinvarious countries.Withborderlessaccounts,digital nomadsavoidthehighfeesassociatedwithan internationalbankingrelationshipandhaveaccess totheirmoneyvirtuallyanywhere.
2.AdvancedMobileandDigital Features
Digitalnomadsneedanytime, anywhere,accesstobankingservices; mobile-firstbankslikeN26andMonzo focusexclusivelyonthisrequirement. Thesebanksfocusmoreonintuitive mobileappsthatdigitalnomadscan usetoopenaccounts,manage transactions,andconsiderbudgeting tools,oftenwithoutvisitingaphysical bankbranch.Mostofthese applicationsareintegratedwith expensemanagementandbudgeting, whichmakesiteasyforadigital nomadtokeeptrackoffinancesonthe go.Thiskindofcapabilityisquite essentialforlocation-independent workerssinceitprovidesreal-time spendingandcurrencyconversion informationacrossregions.
3.InternationalATMNetworkand ReducedFees
Digitalnomadswhofrequently withdrawmoneyfromATMsabroad areliabletobechargedhugelyat ATMsinforeigncountries.Banksfor digitalnomadsusuallywaivefeesto usetheirpartnerATMsworldwideor chargelowerfeeswhenthetransaction isexecutedabroad.Forinstance, CharlesSchwabprovidesano-fee internationalATMcard,whereas RevolutandN26havelimitedfree withdrawalspermonthindifferent places.Allthesesavingsreducesome ofthecostsand,hence,incrementally increaseclients'savingsonday-to-day expenseswhenusingdigitalnomad banks,whichmakesiteasierto managefinancesonthego.
4.EmphasisonFinancialSecurity andFraudProtection
Securityisoneofthemajorissuesof digitalnomads.Inthisregard,adigital nomadbankfocusesmainlyonmobile securityfeaturesliketwo-factor authenticationandimmediate transactionalerts,andeveninsome banks,biometricloginfeatures.Most banksoffervirtualcardsfor transactionsdoneonline,sotheiractual
accountdetailsarenotdisclosedtothe fraudulentpeopleontheweb.Clients likeRevolutcaninstantly'freeze'and 'unfreeze'cardswithintheapplication foralayerofsecurityidealfor someonetouringaroundunknown placesfrequently.
5.InsuranceandExtraBenefits
Digitalnomadbankshaveexpanded beyondbasicbankingservicesto includetravel-friendlybenefitssuchas insurancecoverageforhealth,travel, andelectronics.Additionalbenefits includetravelinsurance,coveragein caseofmobiletheft,andcompensation duetoflightdelays,whicharepartof theirpremiumpackagesinN26. Beyondthat,somebanksalso collaboratewithvarioustravelservices andcoworkingspaces.Theygive specialdiscountsormembershipdeals thatsuitthelifestyleofdigitalnomads evenbetter.Hencetheservicessupport thepersonalandprofessionallivesofa digitalnomad,providinganall-in-one solutiontoaccommodatethemin livingtheirchosenlifestyle.
Conclusion:TheFutureofBanking forDigitalNomads
Withthegrowingnumberofdigital nomads,italsobodesacallforspecific financialsolutions,which,inturn,will pushfurtherinnovationinbanks. Consideringthepainpointsthe location-independentworkforcedeems important-multi-currencycapacity, bettermobilefunctionality,andaccess fromanywhereintheworld,aswellas security-focusedfeaturesamongothers -digitalnomadbanksanswerthatcall. Thiswaveofnewfinancialservices representsastepforwardtotruly globalandflexiblebanking, correspondingtotheneedsofmodern, mobileworkers.Fordigitalnomads, suchchangesmakelifestylenotonly possiblebutalsothrifty
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