Description of Snyman and Associates:
At Snyman and Associates, we empower clients to achieve financial clarity and confidence through personalized, comprehensive financial planning. Our holistic approach integrates investment management, retirement planning, tax strategies, estate planning, and risk management to create tailored roadmaps that align with your unique goals.
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1 customer review
Leon
The team helped our family to plan. We received a clear picture of our current shortfalls and a few options to improve our future outlook.
Thank you teams for the friendly and professional service.
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Reply from Snyman and Associates
Thank you, Leon, for your review. It is a pleasure working with you and your family.
What do you love most about your job?
Why I Love Financial Planning
I love empowering clients to secure their financial future across all planning aspects. Crafting tailored retirement plans using the two-pot system under the Pension Funds Act ensures clients retire comfortably. Designing estate plans per the Wills Act to minimize estate duty and protect legacies is deeply fulfilling. Recommending life, disability, and severe illness cover safeguards families against unforeseen events, aligning with the Long-Term Insurance Act. Guiding investment strategies to balance risk and growth, optimizing tax planning with Section 10C relief, and budgeting for healthcare costs bring clients peace of mind. Solving unique financial puzzles and building trust to achieve goals like financial independence or generational wealth makes every day rewarding.
What inspired you to start your own business?
As a financial planner, I was inspired to start my own business because of my passion for helping people achieve financial freedom and my desire for the autonomy to provide tailored solutions. This inspiration stems from my interest in learning more about money and investments, as well as my understanding of the challenges that life can present.
Why should our clients choose you?
Clients should choose me as their financial planner for my personalized expertise in building secure financial futures. I create customized retirement, estate, and investment plans tailored to your goals. My strategic guidance on tax optimization, risk coverage (life, disability, severe illness), and diversified portfolios ensures lasting stability. With a focus on trust, clear communication, and ongoing plan reviews, I empower you to achieve dreams like a comfortable retirement or a meaningful legacy. I’m your dedicated partner, committed to turning your financial vision into reality.
Can you provide your services online or remotely? If so, please add details.
Yes. Our systems are designed to work with clients worldwide. While we primarily serve clients in South Africa, particularly in Potchefstroom, Johannesburg, Pretoria, Somerset West, Cape Town, and Langebaan, we also have a few clients in the UK, the United States, and various other locations across Africa.
What changes have you made to keep your customers safe from Covid-19?
The biggest change was focusing more on digital meetings through Teams, Google Meet, and Zoom. We have also implemented a digital signing method so that clients do not have to use a pen.
Financial Planning
Financial planning is the process of setting and achieving long-term financial goals through strategic management of income, expenses, investments, and assets. It involves assessing your current financial situation, defining objectives (e.g., retirement, education funding), and creating a tailored plan that integrates budgeting, saving, investing, tax strategies, estate planning, and risk management. By anticipating future needs and market conditions, financial planning ensures financial security and growth, adapting to life changes and economic shifts.
Investment Planning
Investment planning involves strategically allocating resources to achieve financial goals through a mix of local and offshore investments. Local investment planning focuses on domestic assets like stocks, bonds, real estate, or mutual funds, leveraging familiarity with market trends, regulations, and tax benefits. Offshore investment planning diversifies portfolios by investing in foreign markets, assets, or funds, offering exposure to global opportunities, currency diversification, and potential tax advantages, but with higher risks due to regulatory differences and currency fluctuations. Both require assessing risk tolerance, goals, and timelines to create a balanced, growth-oriented strategy.
Retirement Planning
Retirement planning involves preparing financially and lifestyle-wise for life after work, guided by legal frameworks like the Pension Funds Act. It includes estimating future expenses, saving through pension or provident funds, and investing to ensure financial security.
Estate Planning
Estate Planning and Importance of Life, Disability, and Severe Illness Cover in South Africa
Estate Planning: In South Africa, estate planning involves structuring assets to ensure efficient transfer to heirs while minimizing taxes and legal complications, governed by laws like the Wills Act 7 of 1953 and Estate Duty Act 45 of 1955. It includes drafting a valid will, setting up trusts, and appointing executors to manage estate distribution. Key goals are reducing estate duty (20–25% on estates above R3.5 million), mitigating capital gains tax, and ensuring liquidity to cover debts and taxes without forced asset sales. Regular updates align plans with life changes and legal requirements.
Importance of Life, Disability, and Severe Illness Cover:
Life Cover: Provides a payout to beneficiaries upon death, ensuring financial stability, covering estate costs, and replacing lost income. It’s critical for liquidity, as estates can face delays under the Administration of Estates Act.
Disability Cover: Replaces income if clients become unable to work due to injury or illness, maintaining lifestyle and funding retirement contributions. Policies must comply with the Long-Term Insurance Act.
Severe Illness Cover: Pays a lump sum for critical illnesses (e.g., cancer, stroke), covering medical costs and lifestyle adjustments, reducing reliance on retirement savings.
Why It Matters: These covers integrate with estate planning to protect wealth, ensure dependants’ security, and maintain financial plans despite unforeseen events. Without them, estates may face liquidity issues, and families could deplete savings or face debt. Tailored policies, reviewed regularly, align with South African tax laws and personal needs, enhancing estate plan effectiveness.
