JOHANNESBURG – A profession going back to the mid-20th century is getting a new lease of life as four young people set out to scrutinise the standards, and more importantly, open the trap door for other young agile professionals to clamber through.
Financial planning – long misunderstood as an industry more than a profession that should have the same level of hat doffing as for doctors, lawyers and auditors – has fallen to the hands of Jason Bernic, Tiaan Herselman, Luke Martins and Yariva Ramdhani, who have formed the Young Financial Planners Organisation (YFPO).
What they intend to do is encourage the participation of more young people in the shaping of the industry into a more astute, energetic and focused profession.
Essentially, a financial planner is someone who will help you make every cent count when you're buying a car or a house, furthering your education, getting married, planning for your children’s future, as well as retiring and a whole plethora of life’s phases that most people walk into armed only with their hearts on their sleeves.
A certified financial planner (CFP) could also devise a strategy for your overall cash-flow planning; liquidity planning, such as ensuring you have access to liquid capital when required during different life stages; tax efficiency; estate planning; death and disability planning; investment planning; and asset-allocation planning, among other more structural efforts we undertake in life.