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A pioneering vision that began 25 years ago has grown into one of South Africa’s leading academic institutions in financial planning education. The University of the Free State’s (UFS) School of Financial Planning Law, the first academic institution in the country to offer formal financial planning education, recently brought together academics, industry practitioners, alumni, and members of the University community to celebrate a milestone that reflects its lasting contribution to the profession.

Established in 2001 within the Faculty of Law, the School set out to give financial planning the academic foundation, professional recognition, and ethical grounding needed to move beyond the traditional perception of selling financial products. Today, its influence is reflected in the professionals it has developed, the qualifications it offers, and its contribution to advancing financial planning education in South Africa.

For founding director Adv Wessel Oosthuizen, the ambition was always bigger than establishing an academic programme. It was about changing the identity of an entire profession. Reflecting on the thinking behind its establishment, he said: “We believed that financial planning could become much more than the selling of financial products. We believed it could become a true profession.”

A vision that became a legacy

The School’s early years were shaped by the conviction that financial planners needed more than technical knowledge – they needed a sound understanding of the law, professional competence and, above all, a commitment to ethical practice. Adv Oosthuizen recalled the determination to establish those foundations, even when the Centre for Financial Planning Law, as it was then known, operated with a small team.

“We were not trying to build a monopoly; we were trying to build a profession,” he said, reflecting on the Centre’s willingness to share its expertise and contribute to the development of financial planning education at other universities.

That pioneering contribution also established the University’s place in international conversations about financial planning education. Its programme underwent an international audit by the Financial Planning Standards Board in 2004, an important milestone for an institution that had started with a small team in Bloemfontein.

The School’s development has since been shaped by successive generations of leadership, each building on the work of those who came before. Former director Adv Shirly Hyland described the contributions of the three directors as distinct but interconnected, with each bringing something different to the institution’s development.

For Adv Hyland, the significance of the School extends beyond its academic achievements. Its work also has a place in addressing the inequalities that shape people’s financial circumstances and opportunities in South Africa. “Financial planning, rightly understood, is a tool for social justice,” she said.

She argued that access to financial knowledge and sound advice can influence whether individuals and families are able to protect their assets, prepare for retirement, and make informed decisions about their futures. “None of these are failures of character. They are failures of access, of information, of advice, and of justice,” she said.

The impact of the School’s work is also reflected in the careers of its alumni. Among them is Brendan Dunn, Executive Head: Johannesburg at Hewett Wealth and the 2026 Financial Planner of the Year, who credited his postgraduate qualification from the University with helping him find his career calling. “This was absolutely fundamental to who I ended up becoming as a professional person,” he said.

Having initially studied accounting, Dunn said the School’s Postgraduate Diploma in Financial Planning gave him the foundation to pursue the career he had envisioned. He particularly valued the integrated approach to financial planning, which challenged him to consider the different aspects of a client’s circumstances rather than treating financial decisions in isolation.

Dunn noted that three Financial Planner of the Year recipients at Hewett Wealth are UFS alumni, demonstrating the University’s contribution to the industry. He also expressed his interest in becoming more involved in supporting the development of future financial planners.

Preparing for the next 25 years

Building on the foundations established by her predecessors, current director Prof Liezel Alsemgeest has focused on ensuring that the School’s academic offering continues to evolve alongside the financial planning profession.

Over the years, the curriculum has moved beyond its earlier emphasis on technical calculations and financial products to incorporate a broader understanding of the human and behavioural dimensions of financial decision-making. This recognises that financial planning is not simply about working with figures but also about understanding how people think about, experience, and manage money.

This changing approach is reflected in the School’s expanded academic offering, which includes programmes in estate and trust administration, investment planning, financial coaching, and behavioural finance. By incorporating these areas, the School is broadening the knowledge and skills available to professionals while responding to the increasingly complex financial needs of individuals and families.

Looking ahead, technological advancement, particularly artificial intelligence, presents another important consideration for the School. While technology is changing how financial information is processed and financial services are delivered, Prof Alsemgeest believes that the human dimension of financial planning must remain central. The ability to interpret a client’s circumstances, explain complex financial decisions, and provide guidance through significant life changes cannot simply be reduced to calculations or automated processes.

The School’s responsibility, therefore, is to prepare graduates who can engage with technological developments while retaining the professional judgement, ethical grounding, and interpersonal skills required to serve clients responsibly. This balance between innovation and the human touch will be particularly important as the profession continues to change.

Dr Jacques Matthee, Vice-Dean: Learning, Teaching, Innovation and Digitalisation in the Faculty of Law, also highlighted the relationship between academic knowledge and society’s practical needs. He noted that both law and financial planning ultimately concern people’s rights, responsibilities, and security, and expressed confidence that the School would continue contributing through innovation, ethical leadership, and professional excellence.

As the School enters its next chapter, the challenge is to build on its pioneering foundations while continuing to respond to the needs of a changing profession. For Prof Alsemgeest, this means keeping pace with technological developments without losing sight of the people financial planners ultimately serve. It is also a responsibility shared by the academics, practitioners, alumni, and students who continue to shape the institution.

Twenty-five years after its establishment, the School’s contribution is reflected not only in the academic programmes it has developed but also in the professionals it has helped shape and the wider profession it continues to influence. The next 25 years will provide another opportunity to extend that legacy.