The great Warren Buffet lives far from the madding the ever widening gap between rich and poor
crowd, reads selectively what really counts and found with South Africa the worst in the world.
that real wisdom beyond it all.
Data – Information - Knowledge – Insight – Wisdom: it SPECIFIC TRENDS
is beyond knowledge where the real competitive edge
lies and our challenge is to pursue insight and wisdom. Major technological advances shape the world. The
Wisdom is found by reading whole books with a logical energy challenges will bring forth innovation as seen
golden thread that build the path ways of the mind. It is last in 1994 when the world ran dry of oil.
found by surrounding us with great people different
from ourselves and by spending time doing things that Despite the politically correct hype on alternative
spur creativity. energy, it is difficult to see any major contribution from
Creativity and solutions are almost never found on the solar or wind sources. The electric car will remain a
playing field, but by sitting on the pavilion and having a myth as battery technology never caught up. Despite
faraway look at what happens. general belief, an electric car is environmentally more
The financial advisor of the future standing out from the unfriendly than a petrol or diesel car with a larger
crowd will be the one that practises wisdom building in carbon footprint.
every aspect of her/his life.
The focus on hydrogen as an alternative fuel and
hydrogen fusion as a radical new way of generating
EXPECTED FUTURE electricity can be the focus.
We live in the shadows of several revolutions. Traditional media is and will be under increasing threat
Revolutions are over and done with quickly, yet the with the onslaught of digital media.
shadows linger for a long time. In this period we Food production will be aided increasingly by
painfully adapt to the new, while leaving behind the genetically engineered plants and new commodity wars
past with difficulty. will be fought over the access to abundant and clean
The new South Africa in 1994, the coming of the water.
Internet and collapse of the world’s financial systems Bio technology and Nanno technology will continue to
provide a turbulent future with uncertainty, yet for those and can be major focal points for investment.
ready for it, great wealth and opportunities.
Locally the current trend in white male
Some of the current major changes are from Peters entrepreneurship will continue to surprise.
(2005), Aburdene (2007) and Naisbitt (2006):
The Peak Oil period and the demise of almost FUTURE WINNERS
all traditional energy sources
creeping socialism worldwide, The most important trend is the dehumanization of
the painful rectifying of the worst financial people. As herd animals we love to be loved and hate to
crisis in 80 years, be hated. We grasp at technology to solve this need
global movement of people that will have to go with Facebook to cure loneliness use and Twitter for
back home forced by the host countries, modern day koöperasie stoep stories.
the demise of Europe, the rise of the BRIC
(Russia, India, China and Brazil) countries, Friedman (2006) proposes that if we can understand all
the dehumanization of people due to this and go back to the fundamental needs of humanity,
technology, we can be winners. Those able to do the following will
A new war for technical talent, be the leaders of the future:
Social implosions as poor people are rightfully work to together with others. To know that I
angry, know so little and surround myself with diverse
the Diaspora of people and the demise of people thinking and doing things differently,
traditional boundaries, put existing things together,
show others how to do things, to help, support
the advent of female power,
and pass on knowledge and wisdom,
the rapid swinging of the pendulum in almost
do things differently from the norm,
all aspects of society and
apply things differently from others, personal growth to be ahead of the pack when
care for the earth in all we do, the tide turns. Many of us are now in this
be a wise giant and focus locally, situation.
an most importantly to put themselves in the 3. A positive environment, yet your abilities are
shoes of others weak. This is the “Fools paradise” case where
many were during the period 2005 – 2008. Get
on your knees, become humble and start afresh.
The rapid advent of female power and the more 4. A positive environment and superb abilities.
emphasis on emphatic thinking is crucial for success as This is the 7th Heaven case where we should
a service provider. The product alone is simply not reap and sow wisely.
good enough anymore. The way it is presented will
count more than anything else. Then map the detail in these four situations Schwartz
Key to success is to understand our clients even better (2005 ) proposes that we:
and to spend time understanding human behaviour and Identify a focal issue to understand and build
their fears and needs. wisdom. What decisions do we have to take to
have a long term positive influence on our
future? Avoid the noise of the day; it is just the
THE NEW GENERATION swinging of the pendulum. Rather focus on the
Generations think and act differently according to longer term trends in society and get ourselves
Codrington & Grant-Marshall (2004) ready for it.
Some of these were mentioned earlier, yet in a
The Boomers born after the 2nd World War still are the local community, there might be others more
financial, political and economic power of the world, specific.
yet within the next decade that will fade due to aging. List the driving forces that influence your
They are bossy, talkative, stylish and competitive. business directly or indirectly.
The Generation X (1960 – 1980) likes sharing, Rank these key factors by importance and
individualistic and hates bossiness and corporate uncertainty. Flag the easy ones as they might be
culture. the quick wins.
Post this knowledge into one or more of the
Millennials (1980 – 2000) loves friendship, technology
four possibilities above and start working on
and a honest balanced lifestyle.
The market will move away from the Boomers to
eventually the Millennials and increased female power Never stop reading, great answers are often found off
with a softer more caring approach. the playing field. Poetry, art, philosophy, history
Service providers able to shift towards this approach inspired almost all great people. To stick to journals,
will be the winners in the future. internet snippets retailing to our business is not giving a
competitive edge. Looking at it through the eyes of
other disciplines and sitting at the feet of wise people
are a great step to wisdom.
BUILDING YOUR OWN FUTURE
Winning means to understand the future before acting.
Nobody has a crystal ball and tomorrow can bring any CREATING OPTIONS
surprise. Disasters happen, things break, bad people are Only now can options for decisions wisely mapped out.
out to get us, yet great things can and will happen and Snap decisions is little different from gambling.
those prepared for it will be the ultimate winners. Detailed facts and wisdom discussed with others is the
A sound method is to prepare for 4 futures and be ready correct step to prosperity.
for each one. Sunter (2005) Options need to be within the constraints of the law and
1. A negative environment and your offering must be morally sound.
lagging. Look into the mirror with humility and Morals, values and ethics differ. Our culture,
ask what went wrong and what should be done. personality and shaping by society created a different
2. A negative environment, yet your skills are rule book from other people and a minefield of what is
superb. In this case it is critical to grind away right and wrong.
and keep up your belief in yourself and
Sound guidelines for the ethical limits of options is IN SUMMARY
given by Ollinger (2004):
The financial advisor fulfils a critical role in our
Is it legal? economy to be between an ignorant public and sound
Do we have a code of ethics in our business? investment principles. As such the profession played a
Do we have a policy to guide us? major role in the growth of our economy.
Do we infringe on somebody’s rights? This role will be even more important in the turbulent
Do we avoid responsibility? times ahead. Sound understanding of wealth creation,
Is it good for our company? risk and reward and linking it to the needs and fears of
What will they say if everybody knows about the clients will be key to success.
For more on asset management and the psychological
and most importantly; what will my mother say
profiling of clients go to www.thirdcircle.co.za
if she is to know about this?
For more on the general topic, contact
A quick win serving selfish personal objectives will not
email@example.com of visit www.corvus.co.za
work and should never be an option.
THE NEEDS OF OUR CLIENTS ACKNOWLEDGEMENTS
Our generations differ, our cultures differ, The Financial Planning Institute of Southern Africa and
circumstances and society shaped us to what we are specifically Adéle Victor for trust and support.
today. Our personalities differ and so our fears and Hugo Snyman (CEO), Dewald Scholtz (Industrial
needs. To understand your client is the most important psychologist), Thilo Otterpohl (Graphics artist) and
step to be able to stand in her shoes. Christo Luus (Economist) of Third Circle Asset
McCathy (1999) summarized it that we will have our Management for their support, guidance and wisdom so
clients worshipping us if we understand that they apart liberally shared.
from our product also need: Great people sharing and guiding me in the complex
Do not want to be hurt, world of wealth management notably Laurette Pretorius
of Sasfin Securities (Pty) Ltd, François du Plessis of
Be part of the group,
Vega Capital and Vollie Volshenk of Aristaat.
do worthwhile things,
want to learn,
want beauty & order,
want to share,
want you to care for me,
believe in a higher power,
want to do great things,
angry yet want to forgive,
better than others,
bored and love to laugh and have fun,
afraid of and need to be protected and
Focusing on these aspects while proving a service to the
best of our ability are key to success.
Giving our clients a comprehensive solution according
to Demathini (2005) is more important than ever before.
Helping them to be a full happy person is about having
sound relationships, a happy family, a healthy body,
doing sensible work, believing in a higher power and
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Sunter C, (2005) Socrates and the Fox, Human &
Aburdene, P. (2007) Megatrends 2010, Hampton Roads Rousseau.
Branson, R. (2006) Screw it let’s do it, Virgin Books. Tushmann, M.L., (1997) Winning through Innovation,
Codrington, G and Grant-Marshall, S.(2004) Mind the HBS Press.
De Bono, E. (1970) Lateral Thinking, Penguin.
De Bono, E. (1999) New thinking for the new
De , E. (1985) Tactics: The art and science of Success,
Demartini, J. (2004) How to make a hell of a profit and
still go to Heaven. Hay House.
Gladwell, M. (2000) The Tipping Point, Abacus.
Gladwell, M (2005) Blink, Little Brown.
Greene, R. (2001) The Art of Seduction, Viking.
Grove, S (1994) The Dance of the Brain, Human and
Hamel, G and Prahalad, CK. (1994) Competing for the
Future, Harvard Business School
Friedman, T.L. (2006) The World is Flat, Penguin.
Hung, R. Y. (2006) Business Process Management as
Competitive Advantage: a Review and Empirical Study,
Total Quality Management, 17, 1.
Kung, P. And Claus, H. (2007) The fruits of Business
Process Management, Business Process Management
Journal, 13, 4.
Lee, R.G. and Dale, B.G. (1998) Business Process
Management: a review and evaluation, Business
Process Management Journal, 4, 3.
Mccarty, H (1999) Motivating your audience, Allyn and
McLeod, F and Thompson, R (2002) Non-stop
creativity and Innovation, McGraw Hill.
Naisbitt, J. (2006) Mindset, Collins.
Ollinger, H (2004) Master’s thesis University of
Peters, T. (2003) Re-imagine!, DK.
Peters, T. (2005) Trends, DK.
Schwartz, P. (2005) The art of the Long View, Wiley.
Sunter C, (2001) What it takes to be World Class,
Human & Rousseau.