As financial advisors, we are often approached by prospective clients seeking what they believe to be a straightforward, once-off solution. Requests may include drafting a will, arranging life cover, or investing a lump sum. On the surface, these appear to be simple tasks. In practice, however, they cannot be responsibly undertaken in isolation. As integrated wealth planners, we know that advice delivered without full visibility of a client’s financial affairs undermines the very foundation of good planning.
Advice versus product sales
At the outset, it’s important to appreciate that there is a fundamental difference between selling financial products and delivering professional financial advice. Independent wealth advisors do not sell products; we sell our expertise. The products are simply the vehicles used to implement a carefully constructed plan. We know that advice only carries value when it is comprehensive, impartial, and aligned to a client’s full financial position – and that addressing a single issue in isolation disregards the interconnected nature of wealth planning and exposes the client to inefficiencies, duplication, and unintended consequences.
Life cover in context
When clients request assistance with life cover, the responsible starting point should not be a quotation but a thorough review of the broader picture. For instance, group life benefits provided by an employer may already form part of their risk portfolio, and the client may have obligations created by a home loan, dependants, or other financial responsibilities that may affect the level and type of cover required. Further, the structure and nature of existing policies, whether stand-alone or accelerated, can directly affect how new cover should be structured. Simply put, without analysing these factors, any recommendation risks being inappropriate, inadequate, or unnecessarily costly.
Estate planning beyond the will
Surprisingly, drafting a will is often viewed as a stand-alone exercise – and yet a will is not merely a legal formality, it is a cornerstone of estate planning. Responsible drafting requires knowledge of the client’s assets, the jurisdictions in which those assets are held, their matrimonial property regime, and their duties of support. In addition, estate liquidity must also be assessed to ensure sufficient funds are available to cover liabilities, fees, and taxes in the event of death. A will that ignores these considerations can create disputes, tax inefficiencies, and hardship for heirs.
Investing with full visibility
Investment decisions are equally complex. Advising on how to invest R2 million cannot be done responsibly without understanding the client’s existing portfolio, risk tolerance, investment goals, and time horizons. Further, it’s important to assess tax efficiency, including whether the client is maximising available deductions and allowances. Outstanding debt, particularly high-interest debt, also needs to be taken into account before deploying capital into markets. Without this visibility, recommendations are at best incomplete and at worst misaligned with the client’s long-term objectives.
Integrated planning is continuous
It’s important to remember that integrated wealth planning is not a once-off event but rather an ongoing process that adapts as circumstances change. Marriage, divorce, the birth of a child, or the sale of a business all necessitate adjustments to a wealth plan. Tax laws evolve, investment markets fluctuate, and personal goals shift over time – and a plan that is not reviewed and adapted becomes outdated, irrelevant, and potentially harmful. The discipline of integrated wealth planning ensures that strategies remain effective, efficient, and aligned with the client’s evolving circumstances.
The importance of liquidity
From our experience, liquidity is one of the most frequently overlooked aspects of estate planning. Clients often assume that having a will in place and sufficient life cover automatically addresses their estate’s liquidity needs. In reality, if there is not enough cash available to settle debts, taxes, and executor’s fees, assets may be sold under pressure and at unfavourable terms, leaving heirs financially compromised. Properly integrated planning ensures that liquidity requirements are anticipated, provided for, and built seamlessly into the overall estate strategy.
Preventing fragmented outcomes
When financial advice is delivered in fragments, each professional may craft a solution that appears sound on its own, yet ultimately fails when measured against the bigger picture. Consider the client who invests substantially offshore but neglects to update their will in line with foreign succession laws. What may seem like a prudent diversification strategy can unravel at the point of death, leaving heirs entangled in cross-border legal disputes that delay access to funds and diminish the value of the estate. In another instance, an individual may unknowingly duplicate risk benefits through both group life cover and personal policies. While the cover itself may appear comprehensive, the unnecessary overlap results in wasted premiums—resources that could have been redirected towards building long-term wealth, funding education, or securing retirement. Integrated planning removes these blind spots by ensuring that every financial decision is tested against the broader framework of the client’s objectives. It brings coherence and discipline, aligning assets, liabilities, protection, and succession into a seamless strategy designed to safeguard and grow wealth across generations.
Building enduring partnerships
Integrated wealth planning is rooted in long-term partnership. It is not about solving a problem in isolation but about guiding clients through every stage of their financial journey. By maintaining a comprehensive, ongoing view of the client’s portfolio, we are able to anticipate challenges, identify opportunities, and ensure that strategies remain relevant and effective.
Once-off financial interventions may appear convenient, but they do not provide lasting security. Drafting a will without understanding the estate, arranging life cover without assessing obligations, or investing capital without reviewing existing assets creates blind spots that can have significant consequences. Integrated wealth planning recognises that every aspect of a client’s financial life is interconnected and that only a comprehensive, ongoing approach can protect and grow wealth effectively.
Have a fantastic day.
Sue
