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Dear Valued Silke Clients,
As we bid farewell to 2023 and eagerly anticipate the opportunities that 2024 holds, we extend our sincere gratitude for your unwavering trust and partnership with Silke Financial Services. Our collective journey has been nothing short of extraordinary, and we are delighted to share a concise overview of our achievements and evolving trends.
Client Overview:
- As of 2024, our client base stands at 725, a testament to our steadfast commitment to excellence in financial services.
- We joyously welcomed Ian, our youngest investor born on December 6, 2023, heralding a new era for Silke Financial Services.
Investor Demographics:
- Our investor community continues to diversify, with 57% female, 39% male, and 4% other.
- The average client age is now 50, beating me at 53.
Global Reach:
- Silke Financial Services has expanded its footprint globally, serving clients in South Africa, the United Kingdom, Australia, Germany, Canada, New Zealand, the United States, the Netherlands, Italy, France, Switzerland, Namibia and Mauritius
Global Expansion and Geopolitical Considerations:
- Responding to a changing geopolitical landscape, we have extended our services to foreign nationals wishing to live in South Africa and South Africans returning to their home country.
- Our expansion is rooted in a commitment to provide financial stability and strategic guidance amid geopolitical uncertainties. We understand the importance of navigating such complexities and aim to be your steadfast partner in these endeavours.
Financial Performance and Wealthcare Management:
- Gross assets managed for our clients R1.714 billion since inception, underlining our commitment to fostering financial growth for each client.
- Goal funds managed have seen an impressive growth trajectory, reaching 2632 in 2024, showcasing our Goal-Orientated Investment Planning process.
- Our passion is to help people manage their wealth in a way that makes their lives more meaningful. We believe in creating a platform for financial freedom, accessible today, not just at retirement. This philosophy is at the core of everything we do.
| Silke Financial Services | 2001 | 2023 | 2024 |
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| Clients | 1 | 754 | 725 | | Youngest Investor | Born 1958 | Born Nov 2022 | Born Dec 2023 | | Oldest Investor | Born 1958 | Born 1926 | Born 1926 | | Oldest Investor on record | Born 1906 | | Avg Investor Age | 43 | 52 | 50 | | Gender | - | 58% F / 39% M / 3% Other | 57% F / 39% M / 4% Other | | Investor Locations | ZA | ZA, UK, AUS, DE, CA, NZ, NG, USA, NED, IT, FRA, SC, HKS, CH | ZA, UK, AUS, DE, CAN, NZ, USA, NED, IT, FR, CH, NA, MU | | Goal Funds Managed | 1 | 1791 | 2632 | | Monthly Regular Outflow | R0 | R3.060m | R3.687m | Avg Monthly Regular
Outflow Since 2001 | R0 | R1.364m | R1.410m | | Monthly Regular Savings | R500 | R0.974m | R1.114m | Gross Assets Under Management
Value Since 2001 | R500 | R1.593bn | R1.741bn | | SA Rugby World Cups | 🏆 | 🏆🏆🏆🏆 | 🏆🏆🏆🏆 | | *The above figures approximates from inception to date is not exact, but is more or less correct :-) |
Our Silke Wealthcare Team is as follows:
As foreseen, the average investor age has decreased to 50, underscoring the inclusivity of our services across generations. In line with this commitment, we remain dedicated to expanding our Silkenite team with a focus on younger talent:
- Tiaan Bindeman (27) - Wealthcare Advisor Under Supervision: Currently pursuing studies in BCOM/CFP/TAX with a bright trajectory ahead.
- Morganne Thom (20) - Student: Currently pursuing studies in BCOM/CFA/TAX, demonstrating our commitment to growing our Wealthcare Investment Services.
- Georgia Thom (23) - Brand Management and Social Awareness Projects: Contributing to our brand awareness and outreach initiatives, bringing a fresh perspective to Silke.
- Shane Thom - Integrated Wealthcare Advisor / Managing Member.
- Fikiswa Ndlebe - Office Administration.
- Trevor Wadeley - Wealthcare Operational Manager.
- Carolyn Boyce - Silke Business Administrator.
- Chris Norris - Wealthcare Advisor.
- Philip Champion - Wealthcare Advisor.
- Michelle Freudiger - Internal Compliance Officer and CRM.
Everything you need for the tax year ending 29 February 2024:
January to December 2024:
Clients can make use of their annual discretionary allowances in terms of South African Reserve Bank Exchange Control rules. South African residents are entitled to 2 allowances:
- R1 million discretionary allowance (DA) - this allowance may be used for foreign investment without having to obtain tax clearance (a tax number is required), as well as; travel, gifts, loans, studies and alimony.
- R10 million foreign Investment allowance (FIA) - this allowance can be used to invest funds overseas and requires the applicant to have a green bar coded South African ID book and to obtain tax clearance from South African Revenue Services (SARS) before proceeding.
Ending February 2024:
- Clients can make use of their annual discretionary allowances in respect of tax-free investments. The maximum amount you can put into your account per tax year is currently R36,000, with a lifetime maximum of R500,000.
- Clients can make use of their annual allowable deduction allowance in respect of retirement savings. The maximum allowable deduction will be determined as the greater of 27.5% of taxable income. Limited to R350 000 per year.
- If you wish to make an additional contribution to your tax-free and retirement savings for the 2023/2024 tax year, we need to receive your instructions before Friday, 16 February 2024.
As we look ahead to the new year, we are excited about the opportunities and challenges that lie ahead. We are committed to continuing to provide the highest level of service and support to ensure that your goals are met. Here's to achieving great things together in 2024.
Our Integrated Wealthcare approach is based on your personal priorities and aspirations. This process is designed to give you a clear course of action for pursuing your goals that span various time horizons and life stages to empower you to do extraordinary things with your wealth, both now and in the future.
I look forward to talking with you again soon.
Yours in health,
Shane Thom, CFP® GTP(SA)™
Managing Partner // Key Individual // Integrated Wealthcare Advisor // Personal Portfolio Manager (PPM) |
