Things you should always discuss with your adviser at reviews

Bottom line: Never skip these critical topics: investment performance and fees, insurance adequacy, major life changes, regulatory updates, estate planning, and tax optimisation. Ignoring any of these can cost you thousands.

Some topics absolutely must be covered in every review, regardless of whether you think anything has changed. We've seen too many costly mistakes when clients skip these discussions.

Investment performance and fee analysis

Beyond basic returns

Don't accept vague performance updates. Demand specific information:

Real returns after all costs: "How much money have I actually made after fees, taxes, and inflation?"

Comparative performance: "How does this compare to similar investments or market benchmarks?"

Fee transparency: Management fees (typically 1-3% annually), adviser fees, administration costs, and performance fees add up significantly over time.

Critical fee questions to ask

• Are there any fee increases coming?
• Could I get similar returns with lower fees elsewhere?
• What am I paying for active management versus passive index tracking?
• How do my current fees compare to industry averages?

A 2% annual fee difference might seem small, but over 20 years it can consume hundreds of thousands of rands in returns.

Performance red flags

• Consistent underperformance relative to benchmarks
• High fees without corresponding high returns
• Lack of clear explanation for poor performance
• Fund manager changes without notification

Comprehensive insurance review

Life cover optimisation

Your life insurance needs change constantly:

Coverage calculation factors:

• Current debt levels (especially home loans)
• Number and ages of dependents
• Spouse's earning capacity
• Children's education cost projections
• Lifestyle maintenance requirements

Policy structure considerations:

• Level versus decreasing cover implications
• Tax efficiency of different arrangements
• Beneficiary nomination accuracy
• Policy ownership structures

Disability and income protection analysis

Often overlooked but critically important:

Coverage scope evaluation:

• Total and permanent disability definitions
• Partial disability benefits
• Temporary disability cover periods
• Waiting periods before benefits commence

Adequacy assessment:

• Monthly benefit amounts relative to current expenses
• Cover period duration
• Inflation protection mechanisms
• Premium sustainability

Medical aid optimisation

Regular review ensures value for money:

Usage analysis:

• Actual benefit utilisation versus plan costs
• Family health needs evolution
• Alternative scheme comparisons
• Gap cover necessity assessment

Personal and family changes

Major life transitions

Be completely honest about significant changes:

Family developments:

• Marriage, divorce, separation, or new relationships
• Pregnancies and new children
• Children reaching school age or university
• Elderly parents requiring financial support

Career and income changes:

• Job changes or industry moves
• Salary increases or decreases
• Shift to contracting or business ownership
• Potential retrenchment or redundancy

Health and lifestyle factors:

• Chronic illness diagnoses
• Disability or injury impacts
• Lifestyle changes affecting risk profiles
• Mental health considerations

Secondary impact assessment

Seemingly minor changes can have major financial implications:

• Working from home might enable tax deductions
• Teenage children's sport or academic talents might require significant funding
• Elderly parents' deteriorating health might affect your retirement timeline
• Career changes might alter your risk tolerance or investment timeline

Regulatory and legislative updates

South African financial law changes

We monitor regulatory changes affecting your finances:

Recent significant changes:

• Retirement fund contribution rule modifications
• Tax-free savings account limit adjustments
• Offshore investment allowance changes
• Estate duty threshold updates
• Medical scheme regulation changes

Emerging opportunities:

• New tax incentives or deductions
• Investment product innovations
• Regulatory changes creating arbitrage opportunities
• Policy changes affecting specific industries or demographics

Proactive planning advantages

Staying ahead of regulatory changes enables:

• Early adoption of beneficial new products
• Restructuring before disadvantageous changes take effect
• Maximising transitional arrangements
• Avoiding penalties for non-compliance

Estate planning essentials

Will and testament updates

Your will needs regular attention:

Update triggers:

• Marriage, divorce, or relationship changes
• Birth or adoption of children
• Significant asset acquisitions
• Family member deaths
• Executor or guardian changes

Common oversights:

• Outdated beneficiary nominations on policies and retirement funds
• Inadequate provision for minor children
• Tax-inefficient asset distribution
• Failure to account for business interests

Estate duty minimisation

For estates exceeding R3.5 million:

Legal strategies:

• Annual gifting within tax-free limits
• Life insurance structure optimisation
• Trust establishment consideration
• Asset ownership restructuring

Practical considerations:

• Document location and accessibility
• Family communication about arrangements
• Professional adviser contact information
• Digital asset management

Tax planning and optimisation

Current year opportunities

Maximise available tax benefits:

Contribution optimisation:

• Retirement annuity contributions for maximum deductions
• Tax-free savings account annual limits
• Medical aid and gap cover deductions
• Business expense claims if applicable

Income splitting strategies:

• Spousal investment allocation
• Family trust considerations
• Business structure optimisation
• Asset ownership arrangements

Multi-year tax planning

Think beyond the current tax year:

Retirement planning tax efficiency:

• Contribution timing optimisation
• Withdrawal strategy planning
• Living annuity versus life annuity decisions
• Offshore investment tax implications

Estate planning tax considerations:

• Capital gains tax planning
• Estate duty minimisation
• Generation-skipping strategies
• Charitable giving tax benefits

Risk management review

Insurance adequacy assessment

Beyond basic coverage amounts:

Risk tolerance changes:

• Age-related risk capacity modifications
• Family responsibility evolution
• Career stability assessment
• Health status updates

Product suitability evaluation:

• Term versus whole life insurance appropriateness
• Disability cover definition adequacy
• Income protection benefit periods
• Medical aid gap cover necessity

Investment risk alignment

Ensure your portfolio matches your risk profile:

Risk capacity factors:

• Investment timeline adjustments
• Income stability assessment
• Emergency fund adequacy
• Debt level considerations

Risk tolerance evolution:

• Age-related conservatism increases
• Market experience impact on comfort levels
• Family responsibility changes
• Economic uncertainty responses

Never skip these discussions because they seem routine or boring. Each topic can significantly impact your financial security and wealth building potential. We're here to make complex topics understandable and ensure nothing falls through the cracks that could cost you money or security later.