by SFT | Feb 6, 2025 | Financial Planning, St Francis
For Gavin Harvey, financial advising has never been just about the numbers—it has always been about the people. His career, spanning over 40 years at PW Harvey & Co., has been built on trust, integrity, and an unwavering commitment to helping clients secure their financial future. Recently named one of Citywire’s Top 50 Independent Financial Advisors for 2024, Gavin’s recognition is not just a personal achievement but a testament to the values that have shaped the firm.
PW Harvey & Co. is not just another financial advisory firm; it is a legacy built on expertise, professionalism, and a deeply ingrained philosophy of putting clients first. Over the years, the firm has expanded its services to offer comprehensive financial solutions that go far beyond investment advice. Today, the firm manages over R4 billion in client assets, a reflection of the trust and confidence placed in its team of 40 professionals, each bringing specialized expertise to the table.
With a strong foundation in wealth management, PW Harvey & Co. provides its clients with financial planning that is as personal as it is strategic. From crafting bespoke investment strategies to ensuring a seamless retirement transition, the firm takes a holistic approach that considers not just the numbers but also the aspirations and security of every individual they work with.
Financial success is not just about planning for the future—it is about managing the present with precision. This is why PW Harvey & Co. has built a multidisciplinary team that includes chartered accountants, tax specialists, lawyers, insurance brokers, medical aid representatives, financial advisers, client administrators, business consultants, employee benefits specialists, and banking experts, all working together to provide a seamless financial experience. All these bespoke services under one roof offer a level of convenience and expertise that is unparalleled.
Under Gavin Harvey’s leadership, this approach has not only fostered enduring client relationships but has also positioned the firm as one of the most trusted names in financial advisory.
Being named one of Citywire’s Top 50 Independent Financial Advisors for 2024 is a reflection of Gavin’s dedication, but it is also an acknowledgement of the firm’s unwavering commitment to excellence. It is a recognition of the work done by an entire team that believes in empowering clients with the knowledge and strategies they need to thrive. As PW Harvey & Co. continues to evolve, one thing remains constant—the belief that true financial success is about more than just numbers; it is about guiding clients through life’s financial complexities with wisdom, integrity, and a commitment to their long-term prosperity.
See also: The summer of ‘24 – St. Francis Bay, by Gavin Harvey
by SFT | Feb 4, 2025 | Financial Planning
One of the biggest challenges for a financial planner or advisor is convincing potential clients of the value they bring. Many advisors believe their primary skill is selecting the right product or investment fund, and much of the financial media (often referred to as “financial porn”) reinforces this perception.
However, the greatest value a skilled financial planner offers is not just picking investments—its helping clients build a long-term plan and ensuring they take action to follow it. Without action, even the best advice is worthless.
Of course, this sounds great in theory, but how does it translate into real results? To illustrate, I’d like to share the stories of two couples we’ve worked with over the past 7-8 years. Let’s call them Jack & Jill and John & Jane.
Jack & Jill: The Generous Givers
Jack works as a regional director and shareholder in a national company, overseeing operations in the Eastern Cape. When we first met him, he was earning a great salary—but he was also spending freely. Jack and Jill have a large extended family, and Jack’s generosity often meant he was constantly providing financial help to relatives.
As a result, despite his high income, they were saving very little. At the time, they had around R2.8 million in retirement savings—far below what they needed to retire comfortably.
Through several planning sessions, we helped them understand the importance of financial discipline and how to communicate their financial boundaries to family members. This wasn’t an overnight fix—it took time and guidance—but they made the necessary changes.
The result? Eight years later, their retirement savings have grown to R13 million, and they’ve still enjoyed a great lifestyle. Most importantly, their retirement is now secure.
John & Jane: The Big Spenders
John and Jane, like many couples, are in a second marriage and each has children from previous relationships. Financial dynamics in blended families can be tricky, especially when it comes to spending and saving.
John loved driving the latest cars and made sure Jane had one too. He also had expensive hobbies, and they frequently spent their earnings on luxury items. While their income was strong, they had no clear financial plan.
John is a partner in an engineering firm, and whenever profits were declared, they went toward new toys or helping their children rather than savings. At the time, they had just R2 million in retirement savings—far below what they needed for financial security.
We worked with them to develop a realistic and structured financial plan. This gave them hope and a clear vision of what was possible if they took control of their finances.
Fast-forward seven years, and they now have R22 million saved for retirement, ensuring their financial future and maintaining their lifestyle.
The Bigger Picture
These are, of course, two standout success stories, but we have worked with many individuals who have transformed their financial futures through careful planning.
The key takeaway? Even the most successful business people can benefit from working with a skilled financial planner. A financial planner is not just someone who helps you pick investments—they help you build a secure future, make smart financial choices, and take action to achieve your long-term goals.
If you want to take control of your financial future, the best time to start is now.
Dirk Groeneveld, Certified Financial Planner.
by SFT | Jan 27, 2025 | Financial Planning
When Cornelius Vanderbilt, the rail and shipping magnate, passed away in 1877, he was the wealthiest man in the world. His staggering fortune, estimated at over $100 million (equivalent to billions today), represented unprecedented economic power and influence. Yet, within just 70 years, the Vanderbilt family fortune had largely dissipated. How could one of the greatest accumulations of wealth in history vanish so quickly?
The story of the Vanderbilts offers a cautionary tale about the fragility of generational wealth. If the heirs had invested the fortune in a simple, diversified equity portfolio and limited their spending to just 2% of their wealth annually, estimates suggest that each living Vanderbilt today would still be worth over $5 billion. Instead, the family’s vast wealth was squandered through lavish spending, poor financial management, and a lack of a unified vision for preserving the legacy.
Cornelius Vanderbilt was a shrewd businessman who built his empire through hard work, strategic investments, and relentless focus. However, he left little to prepare his heirs for managing such an immense fortune. His son William Henry Vanderbilt doubled the wealth during his tenure, but subsequent generations failed to uphold the same discipline and financial prudence.
The Vanderbilt heirs became synonymous with extravagance. They built opulent mansions, hosted grand parties, and lived lives of unparalleled luxury. The family famously funded ventures that had little to no return on investment, and the lack of a cohesive financial strategy compounded their problems.
By the mid-20th century, the wealth had largely evaporated. At the famed Vanderbilt family reunion in 1973, not a single member of the family was a millionaire.
The downfall of the Vanderbilt fortune underscores the importance of financial stewardship and long-term planning. Diversification, disciplined spending, and education about wealth management are crucial for preserving generational wealth. Families must also prioritise unity and shared goals to ensure the legacy endures.
The Vanderbilt story serves as a reminder that no fortune, no matter how vast, isn’t immune to mismanagement. It’s a lesson not just for the ultra-wealthy but for anyone looking to build and sustain wealth for future generations: success is fleeting without careful planning, wise investment, and fiscal restraint.
Dirk Groeneveld, Certified Financial Planner.
by SFT | Jan 21, 2025 | Financial Planning
In many of my previous articles, I’ve emphasized the importance of finding purpose in retirement. While this is undeniably vital for achieving true happiness and fulfilment, the idea of discovering a purpose can often feel daunting. Many of us assume that our purpose must be something monumental or life-changing—a Purpose with a capital P! However, this is far from the truth. In reality, it’s the smaller, everyday purposes—the “little p’s”—that make life memorable and meaningful.
When we think of finding our purpose, we often picture something dramatic: a monk meditating atop a mountain, waiting for a bolt of lightning to deliver enlightenment. But life rarely works this way. I believe we don’t need to find our purpose—we need to create it. This shift in mindset is especially important as we navigate the transition into retirement, which can be stressful and unpredictable, particularly if it hasn’t unfolded as we envisioned.
Retirement brings significant changes to our day-to-day lives. Beyond the financial aspects, it’s a deeply personal shift that requires reflection and adjustment. By consciously deciding who we want to be in this next phase of life and acting purposefully, we can create our own sense of purpose. This approach allows us to live our lives by design, rather than on autopilot.
Living purposefully means embracing the freedom to do what we want, when we want, and for as long as we want. While hobbies like playing golf can be enjoyable, repeating the same activities daily without variation can quickly lead to monotony. By intentionally diversifying our days and pursuing activities that resonate with us, we can ensure that retirement becomes a time of discovery and joy.
Ultimately, creating purpose in retirement doesn’t have to be overwhelming. It’s about the little choices and intentional actions that add meaning to our lives. By living on our own terms and embracing this chapter as an opportunity for growth, exploration, and connection, we can make sure it’s the happiest and most rewarding phase yet. Life in retirement is what we make of it, and with purposeful living, it can be truly extraordinary.
Dirk Groeneveld, Certified Financial Planner.
by SFT | Jan 13, 2025 | Financial Planning
As we approach the halfway mark of January, the festive season’s warmth and energy begin to fade. It’s natural to feel a bit deflated or even exhausted—especially if your holiday season was spent hosting family, friends, and energetic grandchildren. While many of us have mapped out plans for the new year, the challenge often lies in reigniting our momentum and re-establishing weekly routines. These feelings are entirely normal and, rather than discouraging, can be an opportunity to reshape what our days and weeks look like moving forward.
Transitional Phase For Retirees
Two significant challenges often dominate this transitional phase for retirees: financial health and physical and mental well-being. These areas can feel daunting, but with thoughtful planning, they can be addressed effectively.
The first step is to gain clarity—a snapshot of where you currently stand. Start with your financial health. Schedule a meeting with your financial planner to review your long-term financial plan. This will help you understand whether you’re on track or if adjustments are needed due to changes in your circumstances. Financial uncertainty can cause stress, but proactive planning can ease those concerns and provide a roadmap for the future.
Physical Health
Next, prioritise your physical health by visiting your physician. A thorough health check offers insight into your current status and identifies areas for improvement. If adjustments are needed, your doctor can guide you towards solutions, whether that’s medication, a tailored exercise program, or dietary changes. Taking these steps can not only improve your health but also boost your confidence and energy.
Strong Foundation
Uncertainty—whether financial or physical—can weigh heavily on your well-being. By addressing these areas head-on, you can eliminate doubt and set a strong foundation for the months ahead. Let 2025 be a year to remember by embracing the opportunity to take control of the two most important pillars of a fulfilling life: your financial stability and physical vitality.
Dirk Groeneveld, Certified Financial Planner.
by SFT | Jan 7, 2025 | Financial Planning
At the start of every year, economists, financial gurus, and asset managers flood the media with their predictions for the markets. Last year was no different. Here’s what some major organisations forecasted for where the S&P 500 would end in 2024: Goldman Sachs predicted 4700, JP Morgan estimated 4200, Deutsche Bank expected 5100, Morgan Stanley forecasted 4500, and UBS anticipated 4600. The median prediction of roughly 30 major firms was 4875.
The actual outcome? The S&P 500 closed at a staggering 6000—far beyond even the most optimistic prediction.
This stark gap highlights a fundamental truth: these forecasts (financial porn) are largely useless. Yet, year after year, they are presented as gospel, influencing decisions and sparking debate. The reality is that no one can consistently and accurately predict the short-term movements of the market.
For the everyday investor, what truly matters isn’t the noise of market predictions but your long-term financial plan. Historically, markets tend to rise over time and remain the only asset class that consistently outpaces inflation. This long-term perspective is what will secure your financial future, not trying to chase the latest forecast.
Instead of letting flawed predictions influence your decisions, focus on what you can control: your spending, saving, and investing behaviour. These factors play a far greater role in determining your financial success than trying to time the market based on speculative forecasts. Consistently saving, diversifying your investments, and staying disciplined during market volatility are the behaviours that build wealth.
Most importantly, don’t let short-term predictions dictate your long-term financial health. Markets may be unpredictable in the short run, but your financial future doesn’t have to be. Stick to your plan, maintain perspective, and trust in the long-term growth potential of well-allocated investments. Behaving yourself, rather than chasing forecasts, is the key to financial prosperity.
Dirk Groeneveld, Certified Financial Planner.
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