Should the investment industry prepare for a revolution?

The investment conference was attended by 400 delegates who sought to answer the question if South Africa is facing a social, economic and legislative revolution.

"The i3 Summit is an independent platform that addresses the issues that are currently relevant to our clients, such as legislative reforms and digital disruption. It also provides us with an opportunity to share international best practice, particularly with regards to client centricity, a priority for Sanlam Investments," Johan van der Merwe, CEO of Sanlam Investments, said.

Retirement reform

At the conference, MC Maya Fisher-French looked back over the past 18 months and recalled how much the landscape has shifted for the local financial industry. Other than Twin Peaks and the Retail Distribution Review (RDR) changing the way companies and advisers do business, retirement reform is also on its way. And as if that's not enough to navigate, advisers also need to take into account the recent proposals by the Davis Committee and changes to the way insurance policies are sold.

Widening the lens at the summit was geo-strategic expert Dr Parag Khanna, reminding delegates that the old US-dominated world order has made place for the new geo-political marketplace from which no continent is excluded. Khanna called connectivity (transport, energy, water, utilities, telecoms) the asset class of the 21st century, and showed how countries that have invested heavily in infrastructure are benefiting. Khanna warned that intra-urban inequality is the threat of the future, but very few countries have strategies in place to address it.

Dr Frans Cronje, CEO of the Institute of Race Relations, looked at the most pertinent issues that are currently holding back South African economic growth, such as there now being more recipients of welfare grants than taxpayers in South Africa, rising youth unemployment, falling education levels and dwindling confidence in government.

Key drivers

Former Minister of Finance, Trevor Manuel, addressed the investment challenges SA faces and talked about the key drivers of economic opportunity. He reminded delegates of how much the African continent has going for it, possessing 60% of the world's undeveloped arable land, 95% of its platinum and 40% of its gold reserves.

Leon Campher, CEO of ASISA, Olano Makhubela, chief director financial investments and savings at the National Treasury, Anton Gildenhuys, chief executive actuarial at Sanlam Personal Finance, Rob Southey, head of asset consulting at Alexander Forbes, and Dawie de Villiers, CEO of Sanlam Employee Benefits, explored the implications of the merging of the traditional worlds of institutional and retail investment. The panellists debated the opportunities presented and the impact it could have on advice.