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If you think nobody cares if you’re alive, try missing a couple of car payments.

Earl Wilson

Financial Planning


financialFinancial planning is a structured process that assists you in realising your life goals by means of the appropriate management of your finances. This process involves gathering information, setting life goals, examining your current financial status and developing a plan which outlines how you can meet your goals given your current situation and future plans.

At Portico Financial Services we don’t simply sell policies or schemes, we guide you through the financial planning process in first realising and then fulfilling your financial needs. By having a clear understanding of your personal circumstances, an appreciation of your responsibilities and future life goals, we create a unique and highly tailored financial plan to assist you in living your life successfully.

Whether you’re planning for your retirement, saving for your child’s education, buying a home or planning your estate, we develop and implement a strategy to bridge the gap between where you are now and where you’d like to be.

  • Step 1 is the initial discussion with your financial planner and helps establish the working relationship. At this stage your financial planner should ensure that you understand the six step process, identify your needs, agree on the level of advice you require, explain his or her role, discuss payment for services and obtain consent to proceed with advising you.
  • Step 2 is about gathering information on your current financial situation, commitments, short to long-term financial goals and your circumstances.
  • Step 3 is the financial assessment. It should involve a work-shop to assess your current financial situation. This may involve an analysis of your assets and liabilities, cash flow, current risk cover, investments and tax strategies. This allows you to investigate solutions to problems and identify strategies to capitalise on opportunities.
  • Step 4 requires that your financial planner offers strategic recommendations that address your goals based on your information. The recommendations should be explained to you in such a way that you understand them and should also be recorded in a written record of advice.
  • Step 5 is the implementation stage. Once you understand and are completely satisfied with the recommendations, you will need to authorise your financial planner to proceed with the implementation of the financial plan. After implementation, you and your financial planner will review final documentation for accuracy and to ensure that the plan has been implemented as agreed.

Your financial planner should provide you with an updated summary of the consolidated financial plan.

The first five steps of the six-step financial planning process are easy, since they are essentially a mathematical exercise. The final step requires the skill and experience to drive the performance of your resources.

  • Step 6 requires that your financial planner offers ongoing care. This is not an attempt to sell you a new product – it is a service that is separately costed in a fee-based environment.

The service must be customized to your requirements; regular review meetings will be scheduled over the ensuing years.

10 Principles to good financial planning

Here are a few pointers to set you on the right road to your financial future.

  • Set measurable goals.
  • Understand the effect that your financial decisions have on other financial issues.
  • Re-evaluate your financial plan periodically.
  • Start now, don’t assume that financial planning begins when you get older.
  • Start with what you have, don’t assume that financial planning is only for the wealthy.
  • Look at the big picture, financial planning involves more than just retirement planning or tax planning. It is a lifetime process and not a once-off event.
  • Don’t confuse financial planning with investing.
  • Don’t expect unrealistic returns on investments.
  • Don’t wait until a financial crisis to start planning.
  • Take control – you are in charge of the financial planning process.
Medical Aid


medicalAt Portico Financial Services we will ensure that you get the best advice when it comes to Medical Aids.

When deciding to join a medical scheme, first ask yourself what you can afford to spend on the monthly premium per month. Then look at your and your family’s needs. What is it that you need from your medical scheme?

It is very important to look at the scheme’s membership status and solvency ratio. Some schemes have a big member base, but their solvency ratio is far below the required 25%. This means the scheme is likely to have a bigger premium increase at the end of the year. Solvency ratios may drop annually, should a scheme have a bad claims experience that year.

Other schemes’ membership might be small, but the solvency ratio is high, which means enough funds are available and premium increases at the end of the year can be expected to be lower than the average in the market.

Medical schemes have various benefit plans available to members. Members have to choose between hospital plans, hospital plans with a savings component (New Generation Options), traditional plans, comprehensive plans and network plans.

If your savings benefit is quickly depleted at the beginning of the year and you have to pay for expenses out of your own pocket, or if your option is too expensive, it would be worthwhile to reconsider your particular medical plan. Certain schemes allow migration to other options mid-year, while others allow such changes only at the end of the year.

It is essential to evaluate your medical scheme annually. Heydenrych says, “If you notice that your savings benefit is used up quickly at the beginning of the year and you have to pay all your other day-to-day expenses, it would be worthwhile to reconsider your option. Look at your contribution to your savings benefit and what your day-to-day expenses out of your own pocket amount to additionally per year. Also look at the total amount and compare it with a more comprehensive plan. What is most important is to obtain independent advice to enable you to make an informed decision regarding your choice of medical scheme.”

Estate Planning

estateBoedelbeplanning behels nie slegs maatreëls wat by die boedeleienaar se dood in werking tree nie. Daar is ook beplanningsaspekte wat tydens die boedeleienaar se lewe in werking gestel kan word.

Om te verseker dat jy die grootste voordeel uit boedelbeplanning put en onnodige slaggate vermy, is dit noodsaaklik om eerder die advies van ‘n bedrewe spesialis in te win.

  • die kapitaal in jou boedel op langtermyn beveilig word;
  • die boedel makliker beredder en sonder probleme afgehandel kan word;
  • die bepalings van jou testament prakties uitvoerbaar is;
  • daar genoeg kontant in die boedel is om belasting en administrasiekoste, last en kontantbemakings te betaal;
  • boedelbelasting by albei gades en ander erfgename se afsterwe dramaties verminder of totaal vermy kan word. Boonop kan groot inkomstebelastingbesparing intussen met kundige beplanning bewerkstellig word; en
  • belangrike sekuriteit met behulp van ‘n testamentêre of inter vivostrust vir alle betrokke partye in ‘n boedelplan ingebou word.

Elke persoon se boedelbeplanningsbehoeftes is individueel en uniek en daarom sal ek u graag wil bystaan sodat ons die perfekte oplossing vir jou spesifieke omstandighede kan skep.

Wills

willsOm vandag ‘n besluit te neem oor jou testament en boedel, is soos om ‘n saadjie van ‘n vrugteboom te plant sodat jou nageslag die vrugte daarvan kan pluk.

Jou testament is een van die belangrikste dokumente wat jy in jou lewe sal opstel.  Dit bevat belangrike inligting oor al die bates wat jy oor die jare bymekaar gemaak het, asook jou laaste wense.  Maar bowenal verteenwoordig dit finansiële gemoedsrus aan die wat jy agterlaat.

  • ‘n Paar nuttige wenke met die opstel van ‘n testament is om dit so eenvoudig moontlik te hou.
  • Indien jou situasie vereis dat jou testament ingewikkeld is, nader ‘n kenner op die gebied.  Dit is in elk geval raadsaam om nie te probeer om jou eie testament op te stel nie.
  • Maak seker dat jou testament prakties uitvoerbaar is en probeer ook om die verdeling van jou bates so prakties moontlik te hou.
  • Indien jy minderjarige kinders het is dit belangrik om voogde aan te dui in jou testament.

Hierdie is slegs ‘n paar wenke en indien jy meer inligting wil bekom of hulp nodig het met die opstel van ‘n testament kan jy ‘n e-pos stuur na die adres wat hieronder vertoon word.  ‘n Mens se lewensomstandighede verander gedurig en dit is daarom ook belangrik dat jou testament gereeld hersien moet word om te verseker dat dit steeds ‘n weergawe van jou wense is.

Voor jy dus begin om tasse te pak en opgewonde te raak oor ‘n lekker vakansie wat voorlê, sorg dat jy ‘n getekende testament in veilige bewaring het en dat iemand anders as jyself bewus is daarvan en waar dit bekombaar is indien nodig.

Hand aan hand met testamente loop natuurlik behoorlike boedelbeplanning.  Dit help nie jou wense is in plek maar daar is geen kontant in jou boedel om dit uit te voer nie.  Dit kan lei tot die gedwonge verkoop van bates.

Risk Planning

risk‘n Risiko is enige gebeurlikheid wat ‘n gewenste gevolg kan kelder. Uit ‘n persoonlike finansiële oogpunt beskou beteken dit ‘n gebeurlikheid wat jou kan geld laat verloor, of keer dat jy genoeg bymekaar maak vir ‘n finansiële behoefte wat later kan ontstaan.

Risikobestuur beteken dus dat jy moet beskerm wat jy het en om voorsiening te maak vir dit wat jy nog nie het nie.

Die oplossing vir die meeste risiko probleme is te vinde in die finansiële produkte wat beskikbaar is, maar dit is nie altyd die enigste oplossing nie, of selfs die beste oplossing nie. Deur net op produkte te fokus kan jy baie maklik te veel van die een en te min van die ander hê.

Risikobeskermingsbehoeftes kan in drie breë kategorieë verdeel word;

  1. Die behoefte aan lewensdekking
  2. Die behoefte om jou inkomste  te beskerm
  3. Die behoefte om voorsiening te maak vir leef-stylaanpassings weens ‘n siekte of inkorting.

Met behoefte aan lewensdekking kyk ons spesifiek na die beskerming van jou gesin wanneer jy nie meer daar is nie.  Belangrike aspekte waarna gekyk moet word is die betaling van skuld en die vervanging van jou inkomste.

Met die beskerming van jou inkomste verwys ons spesifiek na ongeskikdheidsversekering en ook inkomstebeskermers.  Dit is ‘n voordeel wat jou van inkomste voorsien, wanneer dit nie self vir jou moontlik is om te verdien nie.

Daar bestaan vandag verskeie risiko ontledingsprogramme waarmee jou finansiële adviseur jou behoeftes rondom bogenoemde aspekte kan bepaal en jou kan help om jou doelwitte te behaal.

Retirement Planning

retireWanneer ons praat van aftree beplanning beteken nie dit is iets wat moet gebeur as jy op aftrede is nie, nee dit moet reeds begin die eerste dag wat jy begin werk en dit hou eers op die dag van jou dood.

Aftreebeplanning kan opgedeel word in 4 fases of stadiums en ek gaan kortliks kyk na elkeen van hulle.

  1. Die opbou fase – Wanneer jy vir aftrede spaar moet jy ‘n bedrag vasmaak as jou doelwit waarna jy opbou.  Jy moet jou persoonlike finansiele situasie bekyk asook die leefstyl waarna jy uitsien tydens aftrede.  Daar is egter ‘n paar belangrik punte wat jy tydens hierdie fase in gedagte moet hy nl:  hoe gouer jy begin hoe beter – inflasie het ‘n uitwerking – jy kan nie alleenlik staatmaak op jou werk se pensoenfonds nie- om nie jou pensioen te bewaar elke keer as jy van werk verander nie.
  2. Tweede fase is jou laaste 5 jaar voor aftrede: dit is hier waar jy nie net moet probeer om jou belegging verder op te bou nie, maar ook dit wat jy reeds het te beskerm teen veranderende markte nie, bv om eerder  uit markgekoppelde beleggings uit te beweeg na meer stabiele fondse.  Dit is ook in hierdie fase wat jy weer na jou beplanning moet kyk, jou aftrede datum vasmaak en na opsies begin kyk vir aftrede.
  3. Hierdie fase is die koop van die regte annuiteit wat jou van ‘n inkomste sal voorsien.
  4. Die volhoubaarheid van jou aftrede – dit beteken om seker te maak dat die keuses wat jy uitgeoefen het lewenslank vir jou en jou vrou voorsiening sal maak.  Inflasie is seker jou grootste vyand en dit kan ook beteken dat jy tydens hierdie fase nog steeds  sal moet spaar en sodoende te verseker dat jy inflasie klop.

Hierdie is regtig ‘n mondvol en iets wat jy sekerlik nie alleen kan doen nie.  Kontak my vandag nog om jou te help met bogenoemde, ons beskik oor aftreebeplannings programme wat jou kan help om jou bestaande situasie te ontleed, te bepaal wat jy sal benodig om te kan aftree en ook vir jou ‘n plan beraam hoe om by jou gekose doelwitte uit te kom en dit ook te monitor.

Short Term Insurance

insuranceShort term insurance is insurance for the possessions that an individual owns, and short term insurance is usually taken out for your home, the contents in your home, and your car.When you purchase short-term insurance you are protecting yourself against the possibility of losing your belongings and having to replace them yourself. Now the insurance company carries that risk, and in exchange for taking on this risk they charge you a monthly fee (the premium). The size of the premium depends mainly on the overall amount for which you wish to be insured

When you purchase short-term insurance you must be fully aware of the conditions of your policy. These conditions must be met otherwise your claim might be denied. A prime example of this in South African short-term insurance is with car insurance where the policy might insist that the car is equipped with a vehicle-tracking device. If your car is hijacked and does not have the device installed your insurance company might not honour the claim. The obligation is yours to see what the policy requires and what the policy may exclude.

Our top insurance tip is to compare the various policies that are offered by different insurance companies. The more knowledge you have the better the chance that you will find car insurance or home insurance that fits your requirements. Besides the fact that there are direct short-term insurance companies like Dial Direct and insurance brokerage firms to compare, there are insurance companies that specialize in categories that you might fit into. Some insurers may cater to first time home owners, while other firms may concentrate their focus on female drivers. For that reason they offer the lowest premiums or the most comprehensive coverage in one area but not in another. It is up to you to know what you want and where the best deal is for your needs. Do not hastily choose one insurance company without knowing about the others, and don’t let third parties bully you into making a selection either.

Investment Advice


investmentsAs ons geld het om te belê dan het ons ‘n behoefte aan óf kapitaalgroei óf ‘n inkomste óf ‘n kombinasie van beide.

Om die regte beleggingstrategie te identifiseer vir jou spesifieke behoefte, is dit belangrik om die volgende vier faktore in ag te neem:

  • Risiko – drie aspekte om na te kyk:  die belegger se risiko, die risiko’s van die instrument wat  gebruik word en die risiko wat daaraan gekoppel word
  • Likiditeit – hoe beskikbaar jou geld is in noodgevalle?
  • Belasting – hoe word die instrument of voertuig wat ons vir die belegging gebruik, belas?
  • Inflasie – In goeie Afrikaans beteken dit die koopkrag wat my geld vandag het.  Dis belangrik dat ‘n  belegging ten minste teen dieselfde koers as inflasie groei, want anders gaan jy agteruit boer.

Dan is daar ‘n ander baie belangrike aspek en dit is DIVERSIFIKASIE.
Die goue reël van moenie al jou eiers in een mandjie sit nie, moet altyd toegepas word.

Business Assurance

financialOwning your own business can be both scary and exhilarating. You’ve no doubt worked hard and made many sacrifices — or will do so.

It is therefore absolutely vital that what you’ve worked so hard for, is protected.

Small and medium-sized businesses face many risks if an owner, partner or key employee suddenly dies is disabled. There are also dangers if a partner or owner becomes embroiled in a divorce action.

If you are involved in your own business you MUST be able to satisfactorily answer these questions:

  • If I — or one of my partners — were to become disabled and unable to work for any period of time, would the business be able to continue paying that person’s salary?
  • Will our medical benefits be sufficient, or will we have to draw cash from the business to meet medical expenses?
  • What happens if my partner gets divorced and his/her share of the company is included in the divorce settlement? Will cash be available to buy out his/her shareholding or will we be forced to sell the business or take in a new partner?
  • If one of the partners suddenly dies, is there enough cash available to buy out his/her share and at what price?
  • When I, or one of my partners, retires one day, what will happen to that share of the business? Is a buy-out plan in place?
  • What happens if one of my key employees, with unique skills or contacts, dies unexpectedly? How will I keep the business going while I try to replace him or her?
  • How will my family or partners meet the estate duty obligations of my estate when I die?
  • Have I done all that is possible to minimise my personal tax liabilities?
  • These are complicated, critical issues that must be dealt with and require the advice of a financial adviser and legal expert.

Running a business takes hard work and sacrifice but it also needs planning and foresight. Often we can’t avoid the risks and pitfalls that life throws at us. Circumstances can suddenly crop up that could destroy that which we’ve worked so hard to build — if proper planning has not been done in time!

We have in place the tools, solutions and products that guarantee your business will continue to grow, thrive and prosper –on your terms — if you, a partner or key employee is temporarily or permanently taken out of the picture. In addition, we can tailor-make solutions that will help retain and attract the best employees, provide cover for their medical expenses and build a fund for when they retire.

Running a business is fraught with risk. In a moment, an unexpected death or case of disability can destroy the business you’ve worked so hard to build. Banks may call in loans, surviving business owners and the deceased’s heirs may become embroiled in bitter ownership battles. Client’s may lose confidence and flee to competitors and your family and heirs may not receive what is due to them.

How do you retain important employees, or protect your income and meet your monthly overhead expenses if you are unable to work? How will you finance future growth and expansion?

We  offer a complete range of business solutions designed to address these scenarios:

Buy and Sell agreements

A buy and sell arrangement, supported by a buy and sell agreement and life insurance, will ensure that on the death of a business owner, the business can continue to operate with as little disruption as possible for the surviving business owner/s, as well as ensuring that the estate of the deceased business owner receives fair value for his/her business interest, as well as settlement of his credit loan account. Interestingly, there seems to be a trend for business owners to transfer their business interest into a trust. Note that where a business interest is held in a trust (or a corporate entity, such as a company) the reality is that even though the trust or corporate entity can continue to hold the business interest in perpetuity, there is often only one of the trustees/shareholders who is directly involved in the business, who influences the success of the business and upon whose death, and therefore, in all likelihood, the trust or entity would no longer wish to continue to hold its interest in the business, as it would not make commercial sense to do so.

Key Person Insurance:

A key person is someone who is fundamental to the running of the business, who through their knowledge, skill or expertise, contributes to the profitability of the business.  Steps need to be taken to ensure that if this person should die or become disabled, the business’s profitability will not be impacted on, or that the impact will at least be minimised.

Personal Liability Plan:

All businesses incur liabilities and often require credit or financing from financial institutions. It is a standard practice for creditors to request that a business owner or director signs as surety or personal guarantor for the business’s financial obligations to them. This means that the surety becomes personally liable for the business’s debts. If the surety dies or becomes disabled, the creditors could look to his/her personal estate for settlement of the debt.

Business Preferred Compensation:

Finding and keeping the people you need to take your business to new heights!

In your business, you probably have employees who do the unusual, think creatively and do more than is expected of them. Employees like these are vital to the future of small and medium businesses. If your company is to grow and be successful, you need to find and keep experienced and talented staff members. We all know compensation is one of the first things potential employees consider when looking for a position. What does your compensation package say about your company?

After all, employees equate compensation with their value to the company and compensation packages can be linked to recruitment, retention, motivation and performance. Very often, creative compensation alternatives can be a small business’s competitive advantage and can help motivate employees, develop innovation and go a long way towards retaining skilled staff members.

Business Investment Plan:

A business may have cash reserves that are not earmarked for any specific purpose and would like to invest these reserves in a diversified portfolio in order to ensure capital appreciation, so that should they be needed at some future date the cash reserves will not have been eroded by inflation.

Investing the cash reserves through an endowment or other suitable investment vehicle is an ideal way of ensuring capital appreciation in a tax efficient manner

Future Liability Plan:

Planning for future expenses is vital for the running of a successful business. Often the business does not have the cash or immediate liquidity at its disposal to meet these expenses. A future liability plan is geared at ensuring that the business pre-funds for these expenses in a systematic manner, through an investment vehicle such as an endowment policy. Future expenses, or liabilities, may include the following:

  • Replacement of depreciating assets
  • Settlement of liabilities such as:
    • Overdrafts
    • Mortgage bonds
    • Credit loan accounts
    • Redeemable preference shares
  • Expansion of the business or purchase of capital assets such as a premises
  • The need for the business to have capital to buy a business owner out upon retirement or some other pre-determined date.

Protecting your income and your business:

You wouldn’t drive your new car out of the showroom without first insuring it. Nor would you go on holiday without first ensuring you are properly covered in the event of a burglary or other disaster. But when it comes to protecting our income, there are many who simply shrug their shoulders and say: “it’ll never happen to me”. Is that a risk you want to take? Consider, for a moment the following example. You are aged 30 and earning R30 000 p.m. You will work until you turn 65. What are you worth? We’ll assume no salary increases for the rest of your life in order to make the calculations simple. The income you will generate is a whopping R12 600 000! The unexpected can strike at any moment and it is vital to be prepared for it and to plan for situations where your income is at risk. Protection against loss of income is one way of ensuring your future.

If you run a small to medium-sized business, you know, if something happens to you it could mean the end of your business. Loss of income protection is not a luxury; it is a business-necessity. Consider the consequences for your business and your family should you require extensive medical treatment. It could ruin your cash flow and jeopardise your entire operation if you are unable to work for a lengthy period. Will your business handle such a setback? It’s a tough question that you need to answer. There is a simple, elegant, solutions.

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Our Services

Financial Planning

Financial planning is a structured process that assists you in realising your life goals by means of the appropriate management of your finances. This process involves gathering information, setting life goals, examining your current financial status and developing a plan which outlines how you can meet your goals given your current situation and future plans.

Read More >>

Medical Aid

At Portico Financial Services we will ensure that you get the best advice when it comes to Medical Aids.

When deciding to join a medical scheme, first ask yourself what you can afford to spend on the monthly premium per month. Then look at your and your family’s needs. What is it that you need from your medical scheme?

Read More>>

Estate Planning

Boedelbeplanning behels nie slegs maatreëls wat by die boedeleienaar se dood in werking tree nie. Daar is ook beplanningsaspekte wat tydens die boedeleienaar se lewe in werking gestel kan word.

Read More>>

Wills

Om vandag ‘n besluit te neem oor jou testament en boedel, is soos om ‘n saadjie van ‘n vrugteboom te plant sodat jou nageslag die vrugte daarvan kan pluk.

Read More>>

Risk Planning

‘n Risiko is enige gebeurlikheid wat ‘n gewenste gevolg kan kelder. Uit ‘n persoonlike finansiële oogpunt beskou beteken dit ‘n gebeurlikheid wat jou kan geld laat verloor, of keer dat jy genoeg bymekaar maak vir ‘n finansiële behoefte wat later kan ontstaan.

Read More>>

Retirement Planning

Wanneer ons praat van aftree beplanning beteken nie dit is iets wat moet gebeur as jy op aftrede is nie, nee dit moet reeds begin die eerste dag wat jy begin werk en dit hou eers op die dag van jou dood.

Read More>>

Short Term Insurance
Short term insurance is insurance for the possessions that an individual owns, and short term insurance is usually taken out for your home, the contents in your home, and your car.When you purchase short-term insurance you are protecting yourself against the possibility of losing your belongings and having to replace them yourself. Now the insurance company carries that risk, and in exchange for taking on this risk they charge you a monthly fee (the premium). The size of the premium depends mainly on the overall amount for which you wish to be insured

Read More>>

Investment Advice

As ons geld het om te belê dan het ons ‘n behoefte aan óf kapitaalgroei óf ‘n inkomste óf ‘n kombinasie van beide.
Om die regte beleggingstrategie te identifiseer vir jou spesifieke behoefte, is dit belangrik om die volgende vier faktore in ag te neem:

Read More>>

Business Assurance

Owning your own business can be both scary and exhilarating. You’ve no doubt worked hard and made many sacrifices — or will do so.
It is therefore absolutely vital that what you’ve worked so hard for, is protected.
Read More>>

Conflict of Interest Management Policy
Complaints Resolution Procedures
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