Thirtieth Anniversary of Foster Wealth
The 1st of June 2018 marks the thirtieth anniversary of the founding of Foster Wealth.
Honesty, integrity and loyalty to clients were the cornerstones on which we started to build the business and these values still remain integral to our business thirty years later.
While we celebrate what we have achieved over the past thirty years, we reflect most of all on what a great privilege it has been to serve our clients. Many of the families that became clients in 1988 remain clients today, even though some of them no longer live in South Africa.
There are many events to reflect on:
- We didn’t think in 1988 that a number of our clients would leave South Africa.
- In 1988 there were 36 unit trust funds to choose from, however, little did we realise that by 2018 they would have mushroomed to 2103!
- We were all generally concerned about the political landscape and had no idea that Nelson Mandela would be released in 1990 and that there would be a democratically elected government by 1994.
- “State capture” was unheard of.
Nevertheless, despite all the political changes over the last thirty years, our clients’ investments have grown. This is, perhaps, the most significant reflection: we should not be influenced by short-term political issues.
We have survived major stock market crashes:
- Most notably 1987,
- The so-called Tech stock implosion of 1998,
- The global financial crash of 2008/2009,
- At least one major South African currency crash being that of 2001,
- Several downgrades of the countries credit rating.
Consequently, we feel that it is worth reflecting on what long-term investment truly means: it means staying in the market, sticking to your long-term objective and not being distracted by political issues, stock market crashes or credit rating downgrades.
Our founder, Peter Foster, retired in 2017, handing over the reins of Foster Wealth Management to his son, Thomas Foster. Thomas and his team are passionate about maintaining and enhancing the honesty, integrity and loyalty that our clients have come to expect.
With this, we would like to express our sincere gratitude towards our clients for their loyalty to Foster Wealth and consider it a privilege to continue to serve you in the future.