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Author Archive | Janine Geldenhuys

fraud

Credit card fraud – Elderly the most vulnerable

The Ombudsman for Banking Services has seen an alarming spike in credit card fraud since January this year, in particular, aimed at clients over 60. In a recent interview the Banking Ombud’s, Reana Steyn said the number of credit card fraud complaints has risen from 12% to 19% in just three months. The latest statistics […]

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xplan

Suitebox now integrated with Xplan

A Customer Relationship Management System (CRM) offers an advisor a myriad of benefits including, but not limited to, sales and relationship management, marketing support and data analytics, management and security. In keeping with this theme, Suitebox has now integrated with Xplan by Iress. Xplan is well established in the South African market place. With its […]

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divorce

Rising divorce rates – Financial advice for couples

Although getting divorced is a relatively straightforward process, at least from a legal perspective, the emotional and financial implications are often enormous. This is the view of Allan Gray’s Legal Advisor, Mlulamiu Nxele. “Because a marriage must be dissolved by a court, it can take a long time before the matter is settled – and […]

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horse

Don’t put the cart before the horse – Ensure that an insured is appropriately covered

Obtain all the relevant and available information and make a recommendation that is appropriate in terms of your clients’ needs and circumstances. If advisors fail in this basic requirement, the outcome can be quite expensive. This was the case in a recent FAIS Ombud determination. Background The complainant, whose core business is the breeding of […]

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fin

South African fintech in 2019 – What can we expect?

According to Wikipedia financial technology, often shortened to FinTech or fintech, is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance. In an earlier Personal Finance article, Dominique Collett explores the South […]

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Medical

Key trends in Medical Schemes Industry – Financial strength of the industry remain stable

Alexander Forbes Health recently published its latest edition of Diagnosis, an annual publication that analyses key trends in the medical schemes industry from 2000 to 2017. “Members can be confident that the country’s largest schemes, both open and restricted, have sufficient reserves to pay their claims,” said Zaid Saeed, Senior Actuarial Specialist at Alexander Forbes […]

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Updates from Medical Schemes Council – Consolidation of smaller funds and Low-Cost Benefit Package reviewed

In September 2018, the Council for Medical Schemes (CMS) published a Draft Framework for Medical Schemes Consolidation for comment. In response to these comments the CMS has done additional analysis and as a result published two reports, i.e. Medical Scheme Consolidation High Level Analysis and a discussion document on Development of Low-Cost Benefit Options within […]

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