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Thoughts From Our CEO

ARTICLE BY

  • Lizelle van der Merwe
  • CEO
  • FIA

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It’s a time for shifting gears – but how we execute that shift is what really matters.

The financial services landscape isn’t just changing; it’s accelerating into uncharted territory. As intermediaries, we find ourselves at the intersection of regulatory transformation (one example is CoFI), technological disruption (such as AI), and evolving client expectations. The question isn’t whether we need to shift gears, but how strategically we execute that shift to emerge stronger and more client-focused than ever before.

The human capital imperative

The challenge is stark. Our industry faces a talent pipeline crisis, with an aging workforce and insufficient young professionals entering the field. Simultaneously, existing professionals must rapidly adapt to serve clients whose expectations have been transformed by digital-native experiences across all aspects of their lives. The solution requires a dual approach: attracting fresh talent while continuously upskilling our current workforce.

Investing in tomorrow’s professionals

The intermediary sector must become a magnet for young professionals who see financial services as a dynamic, purpose-driven career choice rather than a traditional, risk-averse industry. This begins with reimagining how we promote our profession. Young people want to make a meaningful impact, and financial intermediaries are uniquely positioned to be a trusted partner to clients. There is something special about advising families through life’s most significant financial decisions, from first home purchases to retirement planning.

We must invest deliberately in comprehensive training programmes that blend traditional financial expertise with emerging competencies in technology, behavioural finance, and sustainable investing. This isn’t about adding courses to existing curricula; it’s about fundamentally rethinking professional development to match the complexity of modern financial markets and client needs.

Universities and professional bodies must partner more closely with intermediary firms to create pathways that offer real-world experience alongside academic learning. Mentorship programmes, internships with meaningful responsibilities, and accelerated professional development tracks can transform how young professionals view our industry.

Upskilling for clients

Our existing talent represents decades of accumulated wisdom and client relationships, assets too valuable to lose to industry disruption. However, these professionals must evolve alongside their clients, who increasingly expect seamless digital experiences, ESG-integrated investment strategies, and advice that considers both traditional financial goals and broader life objectives.

Upskilling initiatives must address multiple dimensions simultaneously. Technical competency in new investment vehicles, digital client engagement platforms, and data analytics capabilities forms the foundation. Beyond this, professionals need enhanced skills in behavioural coaching, multi-generational wealth planning, and navigating complex regulatory environments.

The most successful intermediary firms will be those that view professional development as a continuous investment rather than an annual requirement. This means creating learning cultures where staying current isn’t just encouraged, it’s embedded in daily practice and career advancement.

Governance as competitive advantage

Sustainability in financial services extends far beyond ESG investing. It encompasses building practices that can weather regulatory changes, economic cycles, and shifting client demographics. Robust governance frameworks aren’t compliance burdens, they’re competitive advantages that enable intermediaries to serve clients confidently across changing market conditions.

Investment in governance means developing systems that ensure consistent, ethical client outcomes regardless of market volatility or regulatory shifts. It requires building infrastructure that supports transparent fee structures, clear conflict-of-interest management, and documented decision-making processes that prioritise client interests.

Forward-thinking intermediaries understand that governance excellence attracts both clients and top talent. Professionals want to work for organisations with clear ethical standards and sustainable business practices. Clients increasingly choose advisers based on trust and transparency, making governance a crucial differentiator in competitive markets.

Collective voice through industry participation

Individual intermediary firms, regardless of size, cannot navigate industry transformation alone. Our industry’s future depends on intermediaries being proactive rather than reactive in stakeholder engagement. This means contributing expertise to regulatory consultations, participating in FIA working groups, and ensuring that the intermediary perspective is heard when policies affecting our businesses are developed.

The most impactful intermediary leaders recognise that time invested in industry associations multiplies their individual influence. Through collective action, we can advocate for regulations that protect clients while enabling innovation.

The path forward

Shifting gears successfully requires coordinated action across four critical areas: attracting and developing new talent, continuously upskilling existing professionals, investing in governance excellence, and actively participating in industry leadership.

The intermediaries who thrive in tomorrow’s financial services landscape will be those who start this transformation today. They’ll view human capital investment not as a cost but as an imperative and they will embrace governance as a strategic enabler rather than a compliance obligation.

The gears are already shifting. The question is whether we’ll drive that change or simply respond to it. For the intermediary sector, the time for passive adaptation has passed, the future belongs to those who actively build it.

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