As a financial adviser for 14 years, Shane Helberg has seen all manner of clients, but they have one thing in common.

“Everyone needs a financial plan – it doesn’t matter who you are,” said Mr Helberg, who is the country lead on-island for Proven Wealth (Bermuda) Ltd.

The company has a head office in the Cayman Islands and offices in the British Virgin Islands, Jamaica and Barbados.

In 2022, Proven Wealth bought out International Financial Planning Ltd, which had operated in Bermuda for 20 years, and rebranded the business.

Proven Wealth offers financial and advisory services, including retirement planning, education planning, savings plans, portfolio reviews and capital investment.

Mr Helberg, who leads a staff of five, said: “The number one thing we do here is retirement planning. Literally, 90 per cent of our clients are looking for something to supplement their pension.

“Pensions are good, everyone should have one, but the reality is it’s not enough with the cost of living here and inflation.

“It’s a big thing, the cost of living, and having to save money. Obviously, the supplement to that is a retirement product.”

A second area of concentration for Proven is college funds. That element has grown recently with the company’s acquisition of Bermudian-based Heritage International, which marketed a college-fund product.

Mr Helberg, who is an associate member of the UK-based Chartered Institute for Securities and Investment, said: “When I sit down with clients, the first hour is more of an education to show people the actual cost of retirement and education, and working out a financial plan.

“My job is to advise. I like to think every client leaving here has an action plan, even if it’s just building up an emergency fund. There is no point in putting money in for the long-term if you have got no short-term fund or fallback.”

He said an emergency fund should cover three to six months’ living expenses.

“Beyond that, you are losing value to inflation, which is eating away at it. The bank deposit rates here don’t even cover inflation.

“It’s about having a balance. Even if you are drawing from a fund, you need to keep some money invested to cover inflation. You should always have an investment, or growth, element.”

Mr Helberg added: “Personally, I’m quite conservative with my advice to people. I’d rather be risk averse than make empty promises. To recover is so hard, but to lose is easy.”

While some clients leave it late to plan for retirement or to save for a child’s college fund, others think ahead.

Mr Helberg said: “I have a client of 23 who wants to plan for the children he doesn’t have yet, which is amazing.”

The 38-year-old native of South Africa entered the financial world after five years in the British Army, where he served in a combat unit specialising in explosives, including a 2007 stint in Iraq.

After leaving the army at the age of 25, and studying finance, he became a director in several African countries for deVere Group, the offshore advisory company.

Mr Helberg said: “I miss the army. I loved the lifestyle and the discipline, which is probably why I’ve been successful in the investment world.

“I am applying the same level of discipline to working hard. It is about being astute and looking to do your best.

“You never stop learning – I am still busy finding some course or certificate to do.”

Mr Helberg was working as a consultant when he got the call to head up Proven Wealth’s operation here.

He arrived last August and has taken quickly to the island’s charms.

“It’s great, almost like a small town atmosphere. In the big city, people don’t care about the next person but here, on public transport, people greet you – it’s nice.”

Mr Helberg said the company would be hiring this year in the areas of advisory, sales, administration and marketing.

“We are taking on new clients every day, there is that constant growth. Every company wants more and more and more.

“With the populace of the country, there is a lot more to do, for sure. We have probably just scratched the surface.”