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Newsletter: Foster Group Business Update | 19 November 2017

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Dear Clients

Foster Wealth Partnership with Fundhouse

Given the vastly changing landscape in the investment world, we endeavoured to partner with an independent investment consultant, more commonly known as a DFM-discretionary fund manager or a RIC-retail investment consultant. In South Africa, we have a wide variety of options and selecting a consultancy is not an easy task. Our search ended and we decided on FundHouse as a steady partner; a few key reasons being independence and relationship.

Ian Jones (CEO) and Peter Foster (CIO), not our Peter Foster, have ample qualifications but, more importantly, share similar values to us as we believe in best practise and putting clients first. They have an incredible process of researching and analysing qualitative factors of funds and make themselves accessible to Foster Wealth on a regular basis. Fundhouse forms part of our Investment Committee. We meet with them on a regular basis as well as a quarterly basis for a detailed committee meeting.

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Introducing Foster Private Clients

Having focused on investment portfolios for 29 years, Foster Wealth Management has now also launched Foster Private Clients. We believe financial advice must be given independently and with an holistic view of our clients’ financial situation. Far too often clients end up with products that they do not understand and policies they don’t need.

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Client Well Wishes on Peter's Retirement Announcement

“Congratulations and very best wishes for a long and happy retirement. I can only say that I have had nothing but amazing help and encouragement with those I have dealt with at Foster Wealth for which I have been very grateful. Having never given much thought to retirement in my younger years, I did not retire with a large bank balance but at least purchased my flat. It was through Safmarine where I had worked for 18 years that I was directed to Foster Wealth and I can only say thank goodness!” – Pauline Brueton

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2017 Taxation Update

Individuals

The maximum marginal rate for natural persons is increased to 45% (previously 41%) and is reached when taxable income exceeds R1 500 000.

The minimum rate of tax remains at 18% on taxable income not exceeding R189 880.

The primary rebate for all natural persons has been increased to R13 635 (previously R13 500). The additional rebate for persons aged 65 years and older is increased to R7 479 (previously R7 407). Persons aged 75 and older are granted a further R2 493 (previously R2 466).

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Our Involvement with Petals Trust

Petals Care Centre (owned by the PETALS TRUST) was established in 2014 by founding member, Christine Coelho. It provides a secure facility for elderly men and women who are destitute, to enjoy peace and independent living within a safe environment.

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Our blogs

Emerging Markets in 2017:

Effects of the new Washingon Administration

There’s quite possibly never been such a divide amongst people on their opinions of one man – Donald Trump. It’s hard to be neutral. It’s hard to believe that media is unbiased and it’s hard to imagine Trump as an inspirational humanitarian.

However, already on the back of his election, the markets have taken a positive swing, believing that lower company tax and greater business stimulation will be good for America. And make no mistake – what’s good for the US economy is generally good for everyone.

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Payback Plans:

How to live well and retire well

Some people are natural savers, some are forced into it, and some don’t bother at all. But what we’re all aware of – sometimes from a young age – is that saving for retirement is vital in the financial constraints of the modern world. As we age, it becomes even more relevant. Sometimes so much so, that fear of the future begins to rule every decision we make, the very way we live our lives.

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"Ask yourself if what you are doing today
is getting you closer to where you want to be tomorrow.
"
- Anon.

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