The Masters of Wealth Navigation at Fisher Dugmore Financial will help you to weather the storms and ride the waves of the complex and ever-changing personal finance environment. By following tried and tested plans, these money experts can help to light the way to your wealth destination, wherever that may be.

Dave Fisher and Andrew Dugmore, the dynamic duo behind Fisher Dugmore Financial, are experts in money management and finance understanding. For more than three decades the pair have been providing advice, guidance, and counsel on all things financial for clients from across South Africa and further afield. Both independent financial advisors before joining forces, the two believe wholeheartedly in the power of independent advice, and have always nurtured relationships with clients in a human and friendly way.

But not everyone has the extraordinarily useful knowledge that sits inside Fisher Dugmore. Few have anywhere near the experience that this unique business boasts. And, even worse, few seek the advice they so clearly need.

“We do complete, holistic financial planning but on a very personal basis,” Andrew Dugmore told Enterprise Africa previously.

“When things are going badly, people need a shoulder to lean on. We are now extremely busy and our diaries are extremely full,” said Dave Fisher in 2021.

This level of activity has not ceased to date, with more people than ever before in need of financial advice. The first step is to ask.

Alarming recent reports suggest that significant numbers in South Africa either distrust or do not actively engage with financial advisers. Even worse, 90% of people do not have the money to retire without major lifestyle changes. The report from Genesis Analytics and the FCSA found that many are simply not able to save or choosing not to save – a big red flag for any financial advisor, and an issue that Fisher Dugmore would seek to address immediately.

The company places retirement arrangement as one of the foremost parts of a robust financial plan alongside emergency preparation. For Dave Fisher, preparing for life beyond work is essential.

“In recent years there has been a considerable amount of economic uncertainty,” he says. “Many people are unsure of their financial future, concerned that they won’t be able to retire because of financial setbacks related to the pandemic and other global events.
Saving for retirement often aligns closely with benefiting from tax advantages, tax-free investing and tax deferment. Life beyond work is a season of life that we can start planning for now and see immediate savings in our tax returns and the long-term wonders of compounding interest.”

The professionals recommend that most start saving for retirement as soon as possible – the earlier you start, the more you can amass, and the earlier you can potentially begin to think about life after work. However, a recent survey by Sanlam found that 25% of average South Africans do not have and form of retirement pot and 20% believe they will never retire. 42% of respondents said they felt a sense of insecurity or lack of control over their financial future.

“Retirement planning refers to financial strategies for saving, investing, and ultimately distributing money to sustain oneself during retirement,” says Fisher. “It’s a very personal journey, and the amount we need to save depends on our age, income, desired retirement income, inflation, and more. But what so many people overlook is that they can reap short-term benefits, too – tax savings being the most obvious, but emotional and mental wellness are also notable benefits.

“Life after work is not just a financial conversation,” he adds, “it’s a whole-of-life conversation. Debt is only one challenge; divorce, depression and disenchantment all feature high on the list of struggles that those entering life after work face – and if they’re not prepared, these can be devastating.”

The message is clear – engage with a financial consultant and understand how you can prepare and ultimately benefit from your earnings now and in the future. The company has partnerships with all of the big banks and pension funds in South Africa and is able to provide very affordable products that most believe are out of reach.

“By actively working on your relationship with money and adopting positive habits, you can cultivate an empowering and emotionally balanced approach to your finances,” reminds Fisher.

The Sanlam Benchmark Report, released in June, find that there is an overall negative feeling around money and finances, and the way people engage with costs is often started from a negative standpoint. Fisher and Dugmore are both of the opinion that the need for clear financial context is important, and this allows for the creation of a plan which can help to instil a mindset that sees money as a growth path and not a hindrance.

Fisher, author of the book Destination Wealth, has always been keen on changing the way South Africans think about money.

“In the sphere of financial planning, the way we speak about money and articulate our plans can have a profound impact on our financial well-being,” he says. “The power of articulating a financial plan lies not only in the creation of a roadmap towards your financial goals, but also in how it helps shape your mindset towards your financial journey.”

He admits that for most, discussions around finances are private, and sometimes uncomfortable. “We tend to veer away from discussions about our financial goals, aspirations, or anxieties. Yet, speaking candidly about money can be transformative. When we articulate our financial plans, we affirm our goals and intentions, which in turn, aids in shaping our financial reality.”

Creating a plan involves several stages. First is budgeting, next is building tools for wealth creation, and then there is risk and retirement planning to protect you and your family in the long-term. When these ideas and elements are discussed, the journey can begin.

“Many times, financial planning seems like a daunting task because it involves an array of complex elements – budgeting, investments, insurance, retirement planning, estate planning, and more. In such a scenario, having clarity of thought and speech can be a game-changer,” reminds Fisher. “By articulating your financial plan, you make it real, tangible, and more achievable. Think about it – you can only aim for something if you know what it is. If you’re able to describe what financial success looks like for you, then you can work towards it more effectively. Clear articulation facilitates understanding, commitment, and a sense of purpose. It connects you emotionally to your financial goals, making them more than just numbers on a page.”

With inflation adding more pressure and stress to an already tight and anxious atmosphere, the time to consult with a financial adviser is now. “The 2023 Benchmark report underscored the critical need for long-term, holistic financial planning,” says Kanyisa Mkhize, CEO of Sanlam Corporate.

 “Creating a new financial narrative requires intention, effort, and patience,” concludes Fisher. “As you work towards embracing a healthy money mindset, remember that it’s a journey, not a destination. By actively engaging with your finances and adopting empowering beliefs and habits, you can forge a new financial path that aligns with your values, goals, and aspirations.”

Fisher Dugmore remains one of the country’s leading financial planning businesses, with new services and products being added each year. When looking for certainty and trust, look no further.