Offshore investment advice: Magnus Heystek reveals how advisors are vilified in SA
The Johannesburg stock market has perked up this year, sparking a fresh wave of attack on investment advisors who have recommended offshore diversification. The most high profile of these advisors is Magnus Heystek, who has been a household name since the 1980s when, as an award-winning finance editor, he introduced and developed the concept of demystifying personal finance to SA. His ‘Making Money Made Simple’ is on many bookshelves, as are his other books on investment topics. Heystek has built a hugely successful investment company in recent decades: Brenthurst Wealth Management manages about R14bn of assets on behalf of individuals. He continues to share his knowledge and insights, based on deep research, freely through his columns and appearances on radio and television with a view to empowering individuals to make the right choices with their money. In this article, Heystek lifts the lid on how individuals in the mainstream media and their commercial partners – dependent on sponsorship and fees from companies with a vested interest in keeping your funds in SA – censor the view that offshore diversification is necessary and promote ‘local is lekker’. – Jackie Cameron