The future of financial advice

South Africa’s wealth advisers stand at a pivotal crossroads. The traditional paradigms that once defined high-net-worth (HNW) clients are being upended by a new generation who are young, diverse, digitally native and values driven. These emerging clients are not merely inheriting wealth, they are redefining it and in doing so they are seeking financial advice that is agile, inclusive and deeply personal.

Meet the new generation of wealth holders

Shifting demographics, evolving client expectations and the accelerated adoption of digital and data-driven solutions are reshaping the advisory landscape. The archetype of the HNW client – older, with legacy wealth – no longer reflects the full spectrum of South Africa’s economic potential. Exclusivity, and static portfolios are being challenged by a new generation of wealth holders. Today’s emerging HNW individuals are entrepreneurs, creatives, tech innovators and professionals who seek more than just portfolio performance. They want advice that aligns with their values, supports their social impact goals and reflects their lived realities. They expect seamless digital engagement, transparent communication and a relationship built on trust, not just transactions.

Advisers matter more than ever

Yet, despite this trend, 51% of South African investors still rely on financial advisers, according to the 2025 South African Investor and Banking Report. This underscores the enduring value of human insight in navigating complexity and uncertainty.

The challenge (and opportunity) for advisers and asset managers lies in bridging the gap between legacy expertise and emerging expectations.

The more mature advisers, many of whom built their careers serving traditional HNW clients, now face a critical inflection point. Their deep knowledge and experience remain invaluable, but without intentional adaptation, they risk becoming disconnected from the new face of wealth. The risk is not just irrelevance, it’s invisibility.

Be more things to more people

Emerging HNW clients often feel excluded from traditional advisory models that lack cultural fluency, digital sophistication or inclusive representation. To bridge this gap, wealth managers must reimagine their approach.

The future of financial advice will be defined by those who can deliver relational depth alongside digital agility. Advisory models must evolve to become more client-centred, resilient and reflective of South Africa’s full economic tapestry. Inclusion and exposure are central to this evolution. This means investing in inclusive platforms, rethinking legacy processes and fostering trust and transparency, suitability and steadfast commitment to acting in the client’s best interest.

These principles aren’t optional, they are foundational; and the most resilient advisers will be those who embed them into every facet of their business. As wealth becomes more distributed across race, gender, and geography, the financial sector must ensure that its services reflect this diversity.

The role of collaboration

Discretionary Fund Managers (DFMs) and asset managers must collaborate more closely with advisers to deliver tailored solutions that resonate with the new wealth generation. This includes leveraging data analytics, behavioural insights, and digital platforms to create dynamic portfolios that adapt to changing life stages and market conditions.

South Africa’s next generation of wealth is here. The question is will the industry rise to meet them?

Key takeaways for financial advisers

• Evolve and integrate client-centred approaches.
• Prioritise inclusion, transparency, and flexible engagement models.
• Leverage data and digital tools to create adaptive, personalised portfolios.
• Collaborate with DFMs and asset managers to deliver holistic and values-driven solutions.