Kick-starting SA’s disruptive wealth movement

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Wealth Migrate founder Scott Picken.
Wealth Migrate founder Scott Picken.

Cape Town – A South African entrepreneur is bringing a host of national and international speakers together in Johannesburg on Thursday to kick-start a wealth movement based on crowdfunding technology.

Scott Picken told Fin24 on Wednesday that he is tired of foreigners coming to South Africa and “playing on people’s fears”.

“We choose to live in South Africa, but want to get a first world income,” he said.

Wealth Movement 2015 presents a platform for current investors and people looking to invest to come together and discover the opportunities available in terms of global real estate investments.

The event promotes crowdfunding as a way to cut out financial advisers, while using a tool that complies with local (Financial Services Board) and global financial regulators.

READ: Buying property overseas is like buying a boat - expert

“We’ve brought the best investors from SA to come to the table and debate what they’ve learnt and how they’ve invested overseas,” Picken said. “They will explain why they invested in the UK or in Australia, for example.”

“Crowdfunding is the future,” said Picken. “Where technology comes into an industry, it revolutionises it and cuts out the middle man. The way people (currently) invest is archaic.”

South Africans are increasingly being taken for a ride with various Ponzi schemes and get-rich quick promises. However, Picken emphasised that this gathering is not about people turning R1 000 into R4 000 overnight.

“We are not making you rich,” he said. “Everyone must take responsibility for their own wealth. We are simply surrounding you with self-minded people to help you take the first steps towards your own wealth journey.

“When you run the Comrades Marathon, you don’t do it in three seconds,” he said. “Similarly, you don’t get rich in three seconds either, but you have to start the race."

Picken said the mission of the Wealth Movement is to empower one billion people by 2020. “It’s the first time that something like this has happened in Africa,” he said.

WATCH: SA expats are losing out on their greatest asset

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