| Each year, I look forward to predicting what the coming year might bring. I must admit that for the past two years, I have gotten at least one major prediction wrong — and that is the introduction of the Financial Intermediaries and Markets Act (FIMA). Contrary to all expectations, FIMA did not arrive this year either. So, it should come as no surprise that I will once again list FIMA among the challenges we expect to face in the new year. My other prediction that fell short was that we would, by now, have fully completed our system migration for the administration of both our stand-alone funds and the Benchmark Retirement Fund. Alas, we are not quite there yet. But I remain confident that by this time next year, we will have completely mastered our new administration system, “Everest,” and be running business even more efficiently than before. This year has been defined by the challenges of adapting to our new system. If it was not pensioner payrolls reacting unpredictably to manual interventions, it was ITAS tax reconciliations keeping our team up at night. When actuarial data failed to meet our expectations, auditors and trustees waited with bated breath for extensions to the annual financial statements. The list of challenges is long, but the list of accomplishments is thankfully longer. I am proud to report that most migration-related issues are now behind us. All annual financial statements for our stand-alone funds have been completed and submitted to NAMFISA. We have successfully resolved ITAS reconciliations and issued all tax certificates. Communication with funds and members has remained consistent and effective. Most notably, contributions and member value updates for all clients are now completed within a month, an impressive achievement in our industry. As they say, “the whole is greater than the sum of its parts.” Across the business, we have continued to invest in IT infrastructure to keep pace with rapid change and rising cybersecurity risks. In September, we successfully replaced all our servers and backup systems, both on-site and at our disaster recovery centre, without a single disruption. This seamless transition is a testament to our exceptional IT team and trusted business partners. Our marketing and brand growth have been equally remarkable, though perhaps a well-kept secret. Thanks to ongoing initiatives and a stronger social media presence, our LinkedIn following for RFS now exceeds 3,600, and our Facebook followers have surpassed 4,600 for RFS Fund Administrators and our Benchmark Retirement Fund combined. Even our youngest brand, RFS Financial Advisors, continues to gain momentum with nearly 600 Facebook followers and over 200 LinkedIn followers, and counting. We seldom talk about our corporate social responsibility, but our impact continues quietly and meaningfully. Each executive director is allocated a budget to support a cause of their choice. Personally, I have been privileged to support NAMCOL learners for over a decade, rewarding academic excellence and helping to fund further studies. We have also supported the Onkanti Foundation for cancer patients and recognised outstanding teachers through Project Lilie. We sponsored youth sports, including hockey and SKW football. We believe in giving back not for recognition, but because it is the right thing to do. Our clients across all sectors have continued to show immense support and patience during our transition. Their confidence has been both humbling and motivating. A highlight this year was our reappointment by the NBC Retirement Fund for another 3 years, and a 1-year extension from the NAMFISA Provident Fund, clear votes of confidence earned by our administration and fund accounting teams and reinforced by our client managers’ dedicated relationship-building. Our flagship Benchmark Retirement Fund remains a key driver of growth. Since December 2024, we have onboarded a good number of clients, with more pending NAMFISA approval. These wins underscore the trust the market is placing in our systems and service delivery. Internally, our staff complement has grown to over 80. Our turnover has improved to just 6% per year, even amid operational challenges, proving a resilient and committed team! To all our staff who have chosen to “stick it out,” thank you for your perseverance, creativity, and belief in what RFS stands for. The growing number of long-service milestones—5, 10, 15, and even 20 years — reflects our shared commitment to building rewarding, long-term careers. We continue to encourage and support professional development through financial assistance, study leave, mentoring, and on-the-job learning. Of course, company support alone means little without individual drive. The best outcomes come from self-motivated people who take initiative, and this year, we proudly celebrate Annemarie Nel for earning the prestigious title of Certified Financial Planner. Well done, Annemarie! This year has truly felt like a climb, full of sharp turns, steep hills, and the occasional detour, but we have kept moving forward together. As we look ahead, the road will not flatten out. The coming year will bring new challenges, expectations, and opportunities. But we have proven, time and again, that we can thrive in demanding conditions. I am confident that we can shift into an even higher gear. As we close the year, I want to extend heartfelt thanks to our staff, clients, trustees, and partners. Your support, patience, and commitment make everything we achieve possible. Together, we have shown that no matter how steep the road, we have what it takes to climb and to accelerate into the future. Here’s to another year of resilience, progress, and shared success. |
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