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Why the future of advice is about responsibility

glu CEO Michele Jenning argues that the future of financial advice should be defined less by wealth and more by responsibility. While high net-worth clients may face greater complexity, the foundations of effective advice remain trust, transparency, relevance and long-term stewardship.
Written by
Michele Jenning
Published on
June 10, 2026
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The conversation around high net-worth clients often begins with numbers, larger portfolios, greater assets, more complex estates, and broader investment opportunities. The real distinction should not be about how much wealth a person holds, but rather how financial advice helps them manage responsibility.

While advisory approaches for high net-worth clients may require deeper technical expertise, I believe the essence of good advice remains universal.

At a practical level, high net-worth clients may have more complex portfolios, broader risk exposures, and multi-layered planning needs. That naturally requires deeper technical consideration and more time spent on structure and governance.

Yet the fundamentals of advice do not change. Regardless of net worth, clients want to feel understood, informed, and supported. They are not simply looking for product solutions; they want advice that is relevant to their lives and aligned to their personal goals.

At glu, we believe the best advisory relationships are built on clarity and trust, not hierarchy. Complexity should never come at the expense of transparency.  

This philosophy shapes glu’s broader approach to product design and client engagement. I do not agree with the assumption in the high net-worth space, that exclusivity and complexity automatically signal value.

Tailoring is important, particularly where flexibility and customisation are required, but argues that tailoring should be thoughtful rather than unnecessarily complicated. High net-worth clients often need flexibility and customisation, but that does not automatically mean more complicated or unclear products. In fact, complexity can sometimes work against good outcomes.  

Instead, glu focuses on relevance and fairness. Through its Mutuality model, the business seeks to create shared value rather than extract it. Products such as the ProfitBack™ Investment Policy are designed to reward loyalty and long-term participation without creating exclusive tiers that leave others behind.

This reflects a broader belief that sustainable financial services should be built around fairness, transparency, and long-term alignment.

glu’s advisory model also reflects this thinking. Rather than segmenting clients primarily by status or wealth bracket, the business works through accredited financial advisers who support clients across a wide spectrum of financial circumstances, including high net-worth individuals.

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“Ultimately, the future of advice is less about net worth and more about net responsibility.”

Michele Jenning
Chief Executive of glu

The emphasis is not on labels, but on understanding what matters most to each person. Rather than segmenting by status, we focus on understanding what matters most to each client and guiding them accordingly.  

At the centre of this is Mutuality, a model that places members first and seeks to align outcomes across the business, advisers, and members. This creates relationships based on shared interests rather than purely transactional interactions.

For many affluent clients, particularly those thinking beyond immediate returns, this resonates strongly. Increasingly, they are looking for responsible stewardship and sustainable value creation rather than short-term wins. Advising in this segment also requires a broader lens than investment performance alone. High net-worth clients often face unique personal and strategic pressures that go far beyond financial accumulation.

Family dynamics, succession planning, business responsibilities, estate considerations, and social impact all become part of the advisory conversation. I believe advisers must therefore bring not only technical expertise, but also perspective and emotional intelligence.

Advisers need to listen carefully, ask the right questions, and help clients think beyond accumulation toward sustainability and legacy. Good advice should feel steady and considered. It should provide reassurance and direction, rather than adding noise to already complex decisions.  

This perspective is particularly relevant in South Africa’s current economic environment, where slow growth and uncertainty continue to shape financial decision-making. While high net-worth clients remain an important part of the country’s financial ecosystem, we should not view exclusivity as a growth strategy.

In a low-growth environment, trust becomes more valuable than ever. Clients across all segments are looking for financial partners who act responsibly, communicate clearly, and share value fairly. This is where business models built on Mutuality and long-term thinking can play a meaningful role.

For glu, resilience does not come from serving only a narrow segment of wealthy clients, but from broad participation and inclusive financial solutions that strengthen the wider ecosystem. Serving high net-worth clients well should never mean losing sight of accessibility, inclusion, or the wellbeing of the broader community.

Ultimately, the future of advice is less about net worth and more about net responsibility, helping clients make decisions that protect not only their wealth, but also their purpose, legacy, and contribution to society.

In that sense, the best advice is not reserved for the wealthy. It is advice that creates clarity, trust, and lasting value for everyone.

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