Implementing RDR Phase 1
True to form, a huge amount of proposed legislative changes were published towards the end of last year. Formal consultation on the draft regulatory instruments to be used to give effect to Phase […]
Best Practice
SARS pays back R10bn, but some taxpayers’ refunds are being withheld
Taxpayers should inform SARS if they have been unemployed for a full year or longer, to avoid being flagged as non-compliant.
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New Acts Affect Sectional Titles Schemes
Miller’s Attorneys of George recently published information about new legislation which will affect Trustees and Executive committee members of Housing Development Schemes (Community Schemes). Two new acts and regulations came into operation on […]
Post Retirement Planning
The Ombud’s annual report highlights specific problems related to advice when clients retire. South Africans continue to procrastinate when it comes to saving for retirement. Many still rely solely on the benefits provided […]
Moonstone extends its Global footprint
On a recent sojourn, a Moonstone delegation consisting of Hjalmar Bekker, Director of Moonstone and Bobby Londt (pictured above left), Digital Strategist, visited prominent industry counterparts in the UK. This was not the […]
How millennials are shaking things up – The 2016 world insurance report*
“Hi @VelocityInsurance. I’ve had it with @TheBestInsuranceCompany. I want to buy a comprehensive insurance package for my car from you. DM me for details.” This tweet is not atypical of what you’re likely […]
Proposed Amendments to Tax Free Savings
The late publication of draft regulations for Tax Free Savings Accounts (TFSAs) on the National Treasury’s website means that there are only 10 days left for comment from the industry, according to Pam […]
Know your product’s exclusionary clauses
Your client advises that she has just bought a new car and wishes to insure it. Her current vehicle is to be sold, but she would like to keep it covered on her […]
Sole Proprietor Practicalities
In response to Alan Holton’s article on business continuity and succession planning, Tony Calitz, a sole proprietor in Durban, raised a number of very important considerations. Most clients will NOT simply grant permission […]
Embracing Technology in Your Business
A fluctuating economy, a competitive financial services landscape and abundant new legislation are just three of the countless challenges South African financial advisers contend with today. But while these challenges will undoubtedly contribute […]
Compliance Officer Requirements amended
The Registrar of Financial Services Providers has published the following documents on the official web site of the Financial Services Board: The Amendment of the Notice on Qualifications, Experience and Criteria for Approval […]
Placing Business Overseas
A recent case from the Enforcement Committee reinforced the importance of making sure that one understands the requirements contained in regulations and directives issued from time to time. The latest version of Directive […]
Causal Event Charges Challenged – Part II
In Part I, we discussed the product provider’s response to a client’s questioning of how a causal event penalty of nearly R10 000 can accrue where there were no premium payments, commission, marketing or […]
Causal Event Charges Challenged – Part I
We recently came across an example of just how loaded the dice are against clients wishing to effect section 14 transfers. When requesting a quote for such a transfer, the client was informed […]
Buying a Business?
Financial advisers wishing to buy or sell businesses in South Africa are very much in the dark as to how to go about doing it, and very little support is available. Centurion Market […]
The Journey Towards Greater Client Centricity
By Florence de Vries It is no secret that, in a few years’ time, only today’s general insurance game-changers will be left standing. Research shows that today’s insurance customer is discerning, time-poor and […]
FSP FICA Obligations
There appears to be a fair amount of uncertainty about what exactly a financial adviser’s obligations under the Financial Intelligence Centre Act are. I suspect that, in many instances, many would rather NOT […]
