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Tag Archives | Financial Advice

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How to win your professional clients’ loyalty for the long term

Most intermediaries will agree that finding cover that completely addresses the needs of professionals is a tough ask. This market faces myriad unique challenges. There needs to be a greater understanding of what professionals really need – and a corresponding, cost-effective product selection to address this. This starts by ensuring your client has a valid […]

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Ombud calls adviser’s conduct ‘morally reprehensible’

Ombud calls adviser’s conduct ‘morally reprehensible’

How does one justify placing an 80-year-old Alzheimer sufferer’s funds in a syndication scheme that is being investigated by the South African Reserve Bank? A recent determination by the FAIS Ombud revealed details of yet another syndication investment that resulted in tragedy. The investor was 80 years old when the broker advised her to invest […]

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Education cost amid Covid – Breaking down the elephant with your client

A Sanlam independently commissioned survey on educational savings in South Africa showed that most participants save under R20 000 for education a year. Once school fees are deducted, that leaves little wiggle room for extras. As a result of the COVID-19 pandemic, parents had to fork out even more for their children’s schooling than they […]

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South Africans turn to Google for financial advice – What are the questions they ask?

Google recently revealed the list of the most-Googled questions they get on saving money. Moneyweb reported that South Africans are also turning to Google for financial advice with ‘what is bitcoin?’, ‘where to sell Mandela R5 coins?’ and ‘what is forex trading?’ topping the search list. Other questions South Africans asked Google included: ‘what is a […]

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Deadline

Exemptions from making deadlines – The why, what and how

The FAIS Act and other legislation prescribe a number of requirements that individuals who provide financial advice must adhere to. Throughout your career you are reminded of these deadlines. The successful completion of the regulatory exam and the annual deadline to adhere to CPD requirements, are only two of these requirements. Failure to comply with […]

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Do you offer financial advice or coaching?

Every financial adviser should be familiar with the statistics: Only 5% or so of South Africans will retire comfortably. In total, South African consumers owe R1.6 trillion in debt. There are 20 million active credit users in the country and around 60% of those are impaired. The question is: Where does this leave advisers? If they only […]

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