According to LIMRA, an international company specialising in research and education in the financial services industry, financial advisors could stand to benefit from having more of a presence on social media, especially if they are looking to work with younger consumers. Although their research is based on an American sample, the results can be educational […]
More than half of banking and financial services customers around the world use fintech products and services, according to a new global poll carried out by deVere Group. Of the 883 customers surveyed across Europe, Asia, Africa, Latin America and Australasia, 55% said that they “regularly use financial technology to access and manage their money”. […]
The issue of ethics in South Africa has seen many challenges. Some of these are also relevant to the financial services industry. Various court cases and determinations illustrate ways in which financial advisors acted in an unethical manner. But what is the current state of affairs? The Ethics Institute (TEI) has just released its 2019 […]
In the past editions, we have published many articles on the outcome of various FAIS Ombud as well as Financial Services Tribunal decisions, highlighting legislation and regulatory requirements as well as many guidelines for financial advisors. But when can a matter be referred to the Financial Services Tribunal? What does a FAIS Ombud determination mean? […]
Companies in the financial services sector were again the least trusted among industries, according to the latest annual Edelman Trust Barometer, which has been measuring trust in business, NGOs, government and the media for the last 19 years. The online survey showed that globally, financial services only achieved a two-point increase over 2017. In the […]
Digital is the new norm for customers. Big tech companies like Google, Amazon, Facebook, and Apple have paved the way and as a result customers are expecting more from their financial service providers as well. FinTech is therefore disrupting the traditional financial services industry as it provides innovative solutions for convenience, accessibility, and tailored products. […]
The use of data, and protection of confidential client information, will play an extremely important role in the future of financial advisers in South Africa. Whilst it makes good sense to invest in technology in order to comply, one should consider actually finding a solution that will, at the same time, enable one to use […]
Extract from a recent blog by Troy Penney, who works for SuiteBox in Sydney, Australia, If you and your business are in a profession that charges a fee or a commission for exchange of knowledge, then one of the Gorillas is coming after you…. Here I will tell you why and when. Facebook, Amazon, Alibaba, […]
A summary of this paper first appeared in the June edition of Moneymarketing. Whilst I am sceptical of the local application of surveys and studies done in other countries, I think that this one can be of value to us for a number of very practical reasons. Security of client data will become an increasing […]
If your insurance business or brokerage does not have a digital component to its overall strategy you are what we would call a sitting duck. The fact is, tomorrow’s insurance is here. It is in the unpredictable weather and resultant claims from it. It is in the demand for ‘pick and pay’ types of insurance […]
