Positive signs are emerging …
As we navigate these extraordinary times, gratitude is owed to the Bokke for adding some positivity to our year. 2023 has been a challenging year, especially for South Africans. There are certain areas that are showing signs of reform that extend beyond the realm of rugby. Despite facing global challenges such as persistent inflation, elevated interest rates, a prolonged economic downturn, and the shadows of two tragic wars, there is a gradual improvement in the economic landscape. Locally, despite the mismanagement of most state-owned entities, the private sector is stepping in as a saviour. This assistance is not only evident in addressing the ongoing electricity crisis but also in revitalizing our ports and railways. These efforts undoubtedly signify positive strides—unleashing the potential for economic growth.
Our Finlaw family …
The festive season is a generally a celebration of family and friends – so we thought it would be a good idea to draw our valued clients into a fuller understanding of our Finlaw family and the interdependencies we share in bringing quality advice and services to each of you. Collectively we have over 65 years of experience in the Financial Services industry – so it is impractical to tell you all our stories in a single newsletter. Instead, the “Team Talk” kicks off with Stacey Baron, our longest serving family member [after John!] who also happens to be our youngest. Marcel will be conducting “Coffee with …” interviews over the following months.
Coffee (tea?) with Stacey …
Marcel: Let us start with you giving us a brief summary of yourself going back in time.
Stacey: I was born in Pietermaritzburg, schooled at Carter High and it was here that I developed my interpersonal skills and passion for helping folk succeed. My first professional job was at an accounting and tax firm in Pietermaritzburg as an administrative assistant. I worked there on a part-time basis for 3 years while studying my BCom Law degree through correspondence. I earned R 30 per hour.
My takeaway pay was usually around R 3 300 per month! With this, I was able to pay for my own medical aid, phone contract as well as the petrol for my scooter – my mode of transportation until I bought my first car [a white Citi golf for R 15 000] at age 21.
Marcel: And then your move to Finlaw in September 2010, how did this come about?
Stacey: I completed my BCom Law degree and, knowing that John Wallace was an Attorney, I was hoping
that this would be my gateway to enter the legal field. However, John thankfully persuaded me to register
for my Postgraduate Diploma in Financial Planning which I completed through correspondence over 2
years. Under John’s mentorship, I was able to quickly learn about the financial industry. I then went on to complete my Advanced Postgraduate Diplomas in Financial Planning and Estate Planning, the latter written at 37 weeks pregnant!
Marcel: Tell us more about Stacey’s life away from the workplace.
Stacey: I am married to Chad, and we have a 4-year-old daughter, Olivia. Chad is the Director of Sport at Cordwalles School where we live. We have access to the school’s amenities which has been a huge blessing for us.
Marcel: Now back to the business world, what is one professional skill you have nailed?
Stacey: I stay up to date with industry trends, ensuring I remain relevant and provide meaningful advice to clients. As a people-person, I believe in building relationships based on trust and integrity, always putting the clients’ interests first.
Marcel: What are your hopes for the future of South Africa from a financial point of view?
Stacey: South Africa faces economic challenges, but as mentioned at the start, small positive changes can bring opportunities for business and consumers alike. I remain hopeful that the upcoming 2024 election will bring with it a change of leadership, an end to corruption and more effective private and public partnerships. This way we can make the country more attractive for investment.
Marcel: What is the biggest challenge the industry currently faces?
Stacey: The increasing regulation in the financial services industry, exacerbated by our country’s recent grey listing, poses a significant challenge. The list of FICA documents requested has become cumbersome for both Financial Service Providers and for our clients.
Marcel: As an experienced financial planner, where do you hope to see women in this industry?
Stacey: The industry is still male-dominant, but I have seen more women entering the fray. Women can influence the investment landscape from a more empathetic angle. It is important for women to support each other and encourage investment for their own futures.
Marcel: Finally, what do you envisage for 2024?
Stacey: With interest rates likely at their peak and inflation on the decline, markets should react positively, providing better returns on equity as cash rates are lowered and become less attractive. Just to close off, my main goal in this industry is and has always been to have every one of our clients’ best interests at heart. I am passionate about assisting our clients’ in achieving their investment goals by ensuring that we consistently share a mutual understanding of the complexity that investing brings.
In the vast investment universe, a multitude of ideas and information surfaces from experts across diverse backgrounds. At Finlaw, our strength lies in the ability of our team to sift through this wealth of information, discerning the essential from the noise, and ultimately selecting what best serves our clients. Marcel will interview Nolan next to unpack his expertise in fund research and the programming of our bespoke database systems. We thank you for your ongoing support and invite you to contact us should you wish to make an appointment or chat over the phone. Wishing you and yours a safe and relaxing festive season – we look forward to seeing you all in 2024.
From the Finlaw Team.
Please note that our offices will close at 12h00pm on Thursday the 21 st of December 2023 and will reopen on
Wednesday the 3rd of January 2024 at 08h00 am.
