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Author Archive | Janine Geldenhuys

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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COB

Class of Business deadlines – Clarity from the FSCA

The amended Fit and Proper requirements of Board Notice 194 of 2017 determined various requirements that need to be implemented and complied with before specific deadline dates. Since the release of the original Board Notice, various other notices and amendments have been released that provided updates on this. One of these deadlines is the new […]

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