Ikhaya Wealth (Pty) Ltd is a registered Financial Service Provider (FSP: 44090). Ikhaya Wealth is a company set up to maintain a position of independence when looking at Financial Planning and Advice. It is not the belief at Ikhaya that any one Insurance or Investment company has all the best solutions for all cases at all times and as such, we have access to the facilities provided by all. It is also our belief that the products supplied are only the tools to underpin a full Financial Plan based on the information provided by the client to determine the actual needs and wishes for the future.
We are a proudly South African company and wished to reflect that in our name. Ikhaya means ‘Home’ in the Xhosa language and it is our intention to provide the proper financial planning for any home and to make sure that there is a better peace of mind for all our clients.
Kevin Palmer has a background of consultancy and business development. He has worked in many parts of the World in this capacity and for a number of household names. He decided to settle in Cape Town in 2003. He has since worked at and ran a number of small to medium consultancies in Cape Town before deciding that the best way of ensuring that he could provide the best levels of service would be through his own business in Cape Town.
Kevin Palmer has embraced all the recent regulatory changes in this country that will help to ensure that quality advice has been given to all clients at all times. He became a Certified Financial Planner in 2010 and works hard to maintain that status through regular training and ensuring all business done through Ikhaya Wealth is fully compliant. All staff have completed the Regulatory Exams that are needed to perform the job and ongoing learning is insisted upon.
Promoting Independent Financial Wellbeing for our Clients
Services & Products
For clients who are also involved in their own business, there are many ways of setting up structures to protect any of the following:
- Partnership Agreements and Succession Planning;
- Risk to the business of Key People not being around;
- Employee Benefit schemes to help retain staff;
- Loan Account Protection.
Life Stage Planning
Whenever someone goes through a change in life stage, it is important to gauge the impact of that change on their life financially and try to put something in place if possible to mitigate any unforeseen issues. This may include such changes as:
- Purchasing property
- Getting married
- Having children
- Getting divorced
- Estate planning
There is one further life stage which if possible is even more important, but that can be addressed more easily in many ways. That is Retirement. There are many ways for planning a retirement and with them come assorted risks and benefits. These should be discussed and a specific plan put in place over a longer term.
QROPS Pension Transfers
This is a niche service that is provided by Ikhaya Wealth. A few years ago, the pension laws in the UK changed to allow an individual who no longer resides in the UK but who still has a pension there (company or private), to now be able to move that pension into a new vehicle in their own name. This new vehicle will be in a different tax jurisdiction and can be placed in a number of different locations depending on a number of factors that would influence that choice. This provides Ikhaya clients with the fantastic opportunity of taking responsibility for their own retirement planning based on their own needs rather than being just a number in a large conservative pension fund.
Whether clients are looking for domestic or offshore investments, they should be aware of the various investment products that are available and make sure that the one they choose is the best and most correct one for that client under the circumstances that the investment is being made. Specifically, an advisor could assist in the following:
- Domestic Investment – looking at the best vehicle based on time frame of investment plan and risk profile of the client;
- Offshore Investment – looking at diversifying by use of global funds. Can be done in either ZAR denomination or any of several major offshore currencies;
- Gold – use of the commodity itself as an investment tool, by understanding the pro’s and con’s of holding the commodity itself;
- Pension Transfer – using the recent legislative changes in Europe to allow non UK/EU residents to move a pension fund into a new vehicle in the name of the individual (See QROPS).
Kevin Palmer – CFP® (Director, Key Individual, and Active Representative)
Karin Palmer – Office Manager and Representative (under supervision)