What's your name and age? Russell Ho and I'm 30 years old. What has been your experience? I have been in the financial advice industry since graduating from Nelson Mandela Metropolitan University (Now Nelson Mandela University) as a Financial Planner. I did my 3 years at Old Mutual PFA and Wealth working whilst at the same time being mentored by a top senior adviser at Old Mutual. After 3 years I met the experience requirement to obtain the Certified Financial Planner Professional ® Designation. Then I left Old Mutual to join Succession Financial Planning and Advisory Services (Pty) Ltd in 2017 to become a fully independent financial planner. As of 1 November 2020, it will mark that I've been 7 years in the industry. What do you do? I provide financial coaching with a holistic lifestyle financial planning approach, so that I can empower my clients to become educated and empowered when it comes to their finances and how it connects with the lifestyle they are trying to build towards. This consists of advice and coaching that is both around financial products, services as well as big decisions involving money which no products or involved whatsoever, but purely just sound advice and guidance. Your area of expertise? Tax planning and restructuring, investments and business entity structuring for both individuals and business clients. What is your place of birth? Port Elizabeth, South Africa When did you immigrate to South Africa? What brought you here? I'm born and bred in South Africa, but my parents and grandparents emigrated from Guangzhou, China, previously known as Canton. They came here for a better life and so that I can have access to more opportunities. Where did you study, and your qualifications? I studied at Nelson Mandela Metropolitan University (Now Nelson Mandela University), and I did a Bcom in Financial Planning and thereafter a Postgraduate Diploma in Financial Planning with my majors being taxation, investments and corporate financial planning. Why did you choose your line of studies? I wanted to learn more about proper financial management and how to handle money smartly. In addition, I realized early in my career when I just started that my parents had not really receive proper financial advice and the advice they did get from their adviser was really bad, he basically just sold them policies and they didn't get the benefit or value they wanted as well as no post sale service or advice was provided. If they had proper advice, they would of made a lot more better informed money decisions. I started seeing this happen more and more often within family members and friends, and decided to enter the industry to help change it for the better. How did you get into the financial services sector? After graduating from university, I applied directly with Old Mutual Persona Financial Advice (PFA), got accepted and worked my way up into Old Mutual Wealth and fortunately got the opportunity to be mentored as well. What are your hobbies and interests in your spare time? I enjoy listening to podcasts and reading books about entrepreneurship and self development, like the Empire Podcast, Impact Theory and Gary Vee Show. In addition, I'm a big fitness enthusiast, I'm currently training to compete in the Men's Physique division next year in bodybuilding and I go indoor rock climbing on the weekends for fun. How do you see the future of South Africa? With the impact of COVID19 on our economy and going forward, we as a country have a lot of work to do in order to get our economy to where we want it. I know for many it seems all doom and gloom with corruption, low to no growth economy and rand depreciating etc, but I personally believe there is still hope and opportunities here and that the situation will improve. In my professional and personal opinion, I think it comes down to what you want in life for yourself and your family. It's a great place if you're in entrepreneurship as even though South Africa may be a 3rd world country and playing catch up with the 1st world countries, this to me can be seen as a opportunity for one to go and research great ideas and businesses doing well overseas, that might thrive here and come back with the idea, implement it and be first to SA market before everyone else catches on. Also with technology today, we're not restricted on what, who and where we work. The job market also has opportunities for those who want to earn a good salary and have a secure job, I think we just need to keep improving our skillset so that we are always in demand. Many make the mistake of stopping to upskill and improve themselves once they leave school or university which is a big mistake as the employment markets are so competitive. Going forward I believe that as long as you keep upskilling and improving your problem solving ability, there will always be someone willing to pay you for that and this applies to both the employment industry and entrepreneurship. Call me an optimist, but that's what I've learnt, seen and experienced to date. What advice or encouragement do you have for university students who want to enter the financial services sector? Never stop learning once you graduate, stay current and up to date with not only what's happening in the financial industry but also related industries. This will ensure that when you meet with potential employers, colleagues and clients, you know what's happening and can give your own take on it, in other words you're always on the ball and informed. There will be tough times ahead and experiences when you want to quit and take the easy way out as well as when your morals and ethics will be challenged. Stay true to your morals and ethics and always do what is right, don't be tempted for short term gains. As for the tough times and experiences whether good or bad, always take time to reflect and ask yourself "What can I learn from this?" and "How can I use it to develop myself to be better?"
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January 2025
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