Let’s face it, we’re emotional beings (thankfully). We laugh at comedy and cry at tragedy. We give money more easily to beggars on cold and rainy days, or to mothers with young children than to single men on the side of the road. We buy things on sale (with money we don’t have) even though we don’t need them and yet we dump our investments when the markets go on sale.

We buy high and sell low and not the other way around. We resist drafting our wills for fear that it increases the reality of our deaths. We fool ourselves into believing that over indebtedness is for poor people and that our debt is just a temporary phase – one day we’ll win the lotto. Things are going to get better. We promise ourselves that we’ll get around to saving and when we do, we throw money at last year’s winners.
There’s a great scene in the movie, “A few good men” where Jack Nicolson’s character blurts out the famous line in response to the questioning attorney “The truth, you want the truth? You can’t handle the truth!”
The truth about human beings is that we’re emotional beings. And this is especially true when it comes to our money.

The Financial Coach

At The Financial Coach we don’t manage money. The money will do what it is meant to do if we can get people to leave it alone; we manage people and their emotions around money.
It all started just after the millennium when the seed for The Financial Coach was planted at a conference that Gregg attended in 2002 (shortly after passing the Post-Graduate Diploma in Financial Planning). But we’ve skipped out a few years…
Gregg left the world of high school mathematics teaching to join the financial services industry in April 1996. He worked at a few companies before deciding that the pursuit of sales targets and good, independent financial advice were mutually exclusive. In February 2000 he left HSBC with business partner, Gloria MacConnell, to set up their own financial planning practice and MacConnell Sneddon Personal Wealth Management was born. Over the years this grew into a well-established business with a loyal client base where they provided reliable and value for money financial advice. They eventually outgrew their offices in Wynberg and in 2013 they moved to their current offices on the Main Road in Kenilworth where they were joined by Sue White. The business subsequently changed its name to Personal Wealth Managers.

Financial Planning is slowly emerging as a profession, partly as a result of increased legislation such as the introduction of the FAIS Act in 2004 and while the FAIS Act has, to some extent, improved the overall quality of advice and consumer outcome, there have still been far too many instances of bad advice and poor product. This has led to further regulation and new legislation, known as RDR (retail distribution review) is due to be rolled out soon. It should produce a better outcome for consumers, but one of the unintended consequences of the RDR legislation is that a financial planner will not be able to give advice on 2 separate financial service licenses.

These pending legislative changes, combined with a desire to further explore what it means to run a fee-only financial planning practice in South Africa have provided the impetus for Gregg to move off the Personal Wealth Managers FSP license and solely onto The Financial Coach license. This move should be complete by the end of September 2017.
The Financial Coach and “Personal Wealth Managers” will continue to share some resources as well as premises but all future financial planning and advice provided by Gregg and his team will be exclusively under The Financial Coach license.

The Financial Coach Foundation

The Financial Coach Foundation was started in June 2017 when Pam Sneddon joined her husband Gregg, after years of working in the NPO sector as a Project Manager, Trainer and Mentor. Together, their passion is to promote social change and achieve real impact, with a focus on all interactions being positive, uplifting, resourceful and long lasting…..

The Financial Coach Foundation offers Basic Financial Training & Mentoring.

Pam also offers Small Business Consulting to those starting a business, or wanting to improve their existing small business. Pam holds a Post Graduate Diploma in Small Enterprise Consulting (cum laude) from Tsiba University.