2 days ago
Changing the face of financial advice
Despite women heading over 40% of households in South Africa, fewer than a third of the country's financial advisers are female, and even fewer are African, Coloured, or Indian (ACI). In an industry still grappling with deep-seated structural and representational gaps, PSG's Adviser Development Programme (ADP) is steadily changing the face of financial advice.
The ADP was established to help young ACI graduates gain both a foot in the door and a pathway to success in financial planning. Through structured training, mentorship, and real-world work experience, the 18-month programme equips participants to become confident and competent professionals.
Proof in progress: Phylicia Marule and Lanelle Fortune
Phylicia Marule grew up in the village of Rolle Trust in Bushbuckridge, Mpumalanga, with dreams of becoming a doctor. A fear of blood, however, rerouted her ambitions toward accounting. 'I completed my BCom in Accounting and started an internship at a small firm in Nelspruit,' she recalls. 'But I realised I wanted more – a career where I could grow and make a difference in people's lives.'
That opportunity came unexpectedly via a LinkedIn message about the ADP. With no previous exposure to financial planning, Marule took a leap of faith. 'I told myself I'd learn as I go, and that's exactly what happened.' Today, she works as an adviser assistant and is planning to complete her Postgraduate Diploma in Financial Planning next year. 'I want to be that adviser who helps people see their finances differently and plan better for their futures,' says Marule. 'The ADP helped me fall in love with this work.'
Johannesburg-born Lanelle Fortune also didn't set out to be a financial adviser, but the seeds were always there. Raised by a single mother and surrounded by strong women, she learned early on the value of resilience and empathy. 'I didn't always know what career I wanted, but I knew it would involve listening to people and helping them navigate life's complexities,' she explains.
The ADP offered the perfect bridge between Fortune's passion for people and a profession that demands both heart and strategy. 'It was insightful and transformative,' she says. 'The training sessions were practical and engaging, and the support from fellow participants was invaluable. There were moments I doubted myself, but the community around me reminded me I belonged.'
Now also working as an adviser assistant, Fortune is focused on building her confidence and capability before stepping into an advisory role. 'It keeps me sharp and continuously learning, while also giving me a closer look at what it takes to take the next step in my career.'
Empowering more women to rise
Both women agree that the financial services industry is slowly changing for the better, but more progress is needed. 'There's an increasing number of women entering and thriving in this industry,' says Marule, 'but there's still a perception that we can't handle pressure or big responsibilities. That needs to change.'
Fortune echoes this sentiment. 'There needs to be more emphasis on creating environments where women don't just fit in but thrive. The industry also needs more intentional mentorship, not just from women but from men who champion inclusion meaningfully.'
The ADP is helping catalyse this shift. 'It's more than just a development programme,' Fortune says. 'It's a statement. It says we belong here; we don't have to shrink to fit in; we can take up space.'
For other young women considering the industry, both have heartfelt advice. 'Be bold, patient, and always be willing to learn,' says Marule. Fortune adds: 'Trust your fire. You are the answered prayer of generations before you, so don't let self-doubt break what you were born to rebuild.'
Affiliates of the PSG Financial Services Group, a licensed controlling company, are authorised financial services providers.
