The inaugural International Investment Africa Forum 2023 took place yesterday in Cape Town, South Africa with some key takeaways highlighting dramatic change for financial advice in the region, with advice firms warned to embrace 'inevitable change' around investment advice and regulation, to be able to meet customer needs in the coming years.
This packed out event - held at the stunning The Forum, Embassy Hill venue in association with The Isle of Man Indaba event - saw a series of presentations and panel discussions from Isle of Man businesses followed with the II Africa Forum 2023 which focused on the changing face of products, investments and advice in the region.
The II Africa Forum sessions began after a lunch with a revealing fireside chat with Hansard Group Chief Executive Officer, Graham Sheward, pictured below left, and II Publisher Gary Robinson discussing a series of key talking points in a session entitled: 'The future of cross-border savings & investments, what next?'.
This Cape Town event was particularly poignant for Hansard coming on the back of their recent win at the II Awards 2023 for Excellence In Client Service Industry for Africa. Sheward, who has a vast experience in the region across a number of years discussed Hansard plans for forthcoming launch of innovative new products.
This is, he revealed, something that the company has been developing with direct feedback and support from key advice firms.
Evelyn Partners Senior Investment Strategist Daniel Casali's presentation on Megatends - the next ten yers of investment was well received as was Rob Shipman CEO of The UAP Group who presented a update on the latest developments effecting the international retirement and pension planning industry in the region.
The event closed with the main International Investment panel session entitled the Future of International Cross-Border Advice, Products and Investments that saw Rashay Makan, Managing Director, South Africa, Carrick Wealth, Mark MacAllister, Senior Partner, Holborn Assets, Anthony Palmer, chair of the Carrick Investment Committee and Rob Shipman, pictured below right, CEO, The UAP Group discussing the part that regulatory reform, a rapidly rising population in the region, and currency fluctuations will play in the coming years in Africa
The panel was chaired by II Publisher Gary Robinson pictured above left, who said: "This was II's first event in the region and we were delighted to sit the II Africa Forum 2023 alongside the Isle of Man Indaba 2023 event. There was plenty of cross-over between the two events and the delegates enjoyed some fantastic presentations and
sessions on both sides. Our sponsor sessions from Hansard, Evelyn Partners and The UAP Group were really well received with a few relevant hot of the press announcements on products and services part of the day. And main panel session with the adviser heads coming on board to give their takes, was particularly revealing.
"Advice in the region is clearly changing with fewer wealth management advice firms managing investment portfolios on behalf of clients, instead preferring to work with DFMs and product and service providers to provide a more holistic advice solution. The widespread view of the panel was that there is 'inevitable change' on the horizon that should be fully embraced.
"We have a very loyal readership in Africa and it was great to see people at the event. Nothing beats meeting people on the ground and face to face at events like this. And the debate/discussions that the II Africa Forum and The Isle of Man Indaba events really enlightening for all."
A short video and photo gallery of the event will feature on International Investment soon.