Navigate your client’s complex wealth solutions with a trusted partner

Complex wealth management often results in complex fiduciary requirements despite executorship and deceased estate administration being highly regulated in South Africa.

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Total private wealth in Africa is expected to rise by 30% over the next eight years, reaching $2.6-trillion by 2030 with South Africa home to an estimated 182 000 dollar millionaires. Given this backdrop, wealth creators, such as independent financial advisors and CERTIFIED FINANCIAL PLANNERS®, are increasingly required to draft and implement complex wealth solutions and integrated wealth management strategies to grow their clients’ wealth. The recent increase in people emigrating from South Africa means that advisors must have a broad knowledge of offshore tax and fiduciary matters in several jurisdictions or face real risk.

“We regularly partner with independent financial advisors to manage these complexities, which includes advice and support around tax and fiduciary matters, particularly for wealthy clients with multi-jurisdiction assets and investments,” says Andrew Ratcliffe, a director at Private Client Holdings (PCH), a multi-family office based in Cape Town, that has been managing high-net-worth individuals’ (HNWI) wealth for over 30 years.

Andrew Ratcliffe CFP®, Director, Private Client Holdings

Ratcliffe cautions that complex wealth management often results in complex fiduciary requirements despite executorship and deceased estate administration being highly regulated in South Africa. “Leaving a legacy is a wonderful gift; however, poor planning often means this doesn’t happen. Thorough estate planning is critical as it provides a solid platform for wealth management and minimises unforeseen risk,” he says. “Our fiduciary team is very experienced in fiduciary matters domestically and abroad, which enables us to draft estate plans and handle deceased estates, no matter how complex, timeously and with the greatest care and professionalism at a time when a family needs it the most.” The PCH team also offers advice and support to independent financial advisors when it comes to drafting wills, forming trusts and trust administration for their clients.

Similar complexities arise when it comes to global taxation. PCH initially started as a tax consultancy in 1990 and tax planning remains one of its core competencies. “Our goal is to legitimately minimise tax payments and maximise after-tax returns by structuring customised solutions for clients,” says Ratcliffe. The company provides both local and offshore tax advice regarding dealing with Capital Gains Tax, Provisional Tax, Employees’ Tax, Estate Duty Tax and Offshore Tax matters. “We strive to support independent financial advisors who may not have the capacity in their practices to navigate the complexities of compliance by creating a solution that meets their clients’ needs,” adds Ratcliffe.

Ratcliffe firmly believes that “good advice at the right time can save you money”. If you’re looking for a partner to navigate your clients’ complex wealth management strategies, with demanding fiduciary and tax structuring requirements, contact Andrew Ratcliffe CFP® on andrew@privateclient.co.za or visit our website www.privateclient.co.za.


PRIVATE CLIENT HOLDINGS IS AN AUTHORISED FINANCIAL SERVICES PROVIDER (LICENSE #613)

Private Client Holdings has taken care to ensure that all the information provided herein is true and accurate. Private Client Holdings will therefore not be held responsible for any inaccuracies in the information herein. The above article does not constitute advice and the reader should contact the author for any related concerns. Private Client Holdings shall not be responsible and disclaims all loss, liability or expense of any nature whatsoever which may be attributable (directly, indirectly or consequentially) to the use of the information provided.