People’s expenses change in retirement. Shouldn’t their income too?

Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.

Disclosure of Costs

A recent finding by the FAIS Ombud will probably cause product providers to rethink how they disclose costs, including commission, in quotation packages. The General Code of conduct stipulates that a provider “…must, […]

Service Standards for Complaints Resolution

We regularly hear from readers about poor handling of complaints by product providers. The major problem from an advisor’s perspective is that a lack of response from the product house reflects badly on […]

Another Investment Scheme under Provisional Curatorship

The total assets under management of the Rockland Targeted Development Investment Fund was placed under provisional curatorship on Tuesday after an ex parte application by the FSB. Bert Chanetsa of the FSB said […]

FSB Broadcast on CPD

Continuous professional development has become the new buzz word as far as the regulatory exams are concerned. This was also the theme of the latest television broadcast by the FSB. It contains a […]

“Offs” and “Ons” Update

We kept a record of the number of FSP “offs” and “ons” as recorded in press releases by the FSB since 18 February last year. The figures are as follows: […]

FAIS and the CPA

The Consumer Protection Act is a landmark piece of legislation, aimed at protecting consumers from dubious business practices. The FAIS Act aims to regulate financial advice and intermediary services, with the stated intent […]

Another Sharemax ruling by FAIS Ombud

Legalbrief reports as follows: Another financial adviser has been ordered by the FAIS Ombudsman to repay a retired couple who invested their pension money in The Villa syndication of Sharemax, says a Sake24 […]

FSB Communications

On Wednesday, 22 August, the FSB broadcasts a workshop on how Continuous Professional Development works. The target market for which it is intended is indicated as: Key Individuals, sole proprietors, compliance officers and […]

Read the fine print

One would hope that, being in the industry, that we all have PI cover and that we know exactly what we are covered for. (In case you do not have PI cover, you […]

FSB Responds to Allegations

Last week we reported on media articles relating to the FSB’s involvement in the prevention of dubious investment schemes. The Regulator saw fit to publish a media release explaining its position in terms […]

Schedule of FSB Communications

Please see below the schedule of planned presentations by the FSB for the rest of 2012. Copies of the satellite broadcasts are availablefrom us. Those that are not televised, requires you to register […]

Job Losses in the industry

As the final date for completion of the regulatory exams draw near, we experience an increase in calls from candidates, anxious about what will happen if they do not make it. Let me […]

Calls for Stricter Enforcement

The news about yet another investment scheme which appears to have gone belly up, raised calls from the industry and the media for preventative measures to be implemented. Personal Finance reported over the […]

Direct marketers face Heavy Fines

The days of unsolicited SMSs, endless calls and annoying e-mails from direct marketing companies trying to sell unwanted products are numbered, says a Saturday Star report. Direct marketing companies that use your personal […]

National Women's Day

From Wikipedia: National Women’s Day is an annual public holiday in South Africa on 9 August. This commemorates the national march of women on this day in 1956 to petition against legislation that […]

Client Mandates

FAIS information circular 4 of 2012, published on 12 April 2012, contains information on bulk client transfers and the re-signing of client mandates. Most of the information below is copied directly from the […]