RDR General Status Update on Investments
The information contained in the update published in December is divided into seven “Themes”. This article provides a summary of some of the points discussed in Theme 2: Investments. At the end of the […]
RDR
Videos
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
RDR Update on Short-term Insurance
Theme 4 of the recently published RDR General Status Update by the FSB expands on items discussed in the RDR Phase 1 Status Update document, published a few weeks earlier. Key stakeholder feedback and […]
Outsourcing Outlook in 2016
The recently published status update on phase 1 of the RDR proposals provided insight into the Regulator’s thinking after receiving feedback from the industry on two proposals contained in the original RDR discussion […]
Treating Advisers Fairly
The introduction of the FAIS Act and supporting regulations contributed to making the provision of financial advice a more daunting and costly service than ever before. Prior to 30 September 2004, we saw […]
Do your RDR plans begin with your clients?
As the implementation of RDR draws closer, financial advisers around South Africa are putting a great deal of thought and effort into their plans to adapt to the new requirements. There are ongoing […]
Replacements going forward
The original RDR Proposal on replacements provided that “…long-term insurers would be prohibited from paying any form of commission or fee to an intermediary in respect of the replacement of life risk policies. […]
Regulatory Instruments
The term “regulatory instrument” appears in the Financial Sector Regulation Act and includes, inter alia, a prudential standard, a conduct standard and a joint standard. These regulatory instruments form part of the Financial […]
Gap Cover – the Real Facts
The negative implications contained in the demarcation proposals on health cover products was clearly outlined in an article by Adri van Zyl in Die Burger on 6 August 2014 titled Versekeraars is op hol. The […]
Incentive Driven Miss-Selling
The practice of incentivising independent financial advisors (IFAs) to shift their investment and risk books is possibly the single biggest driver of churning, and is likely to be addressed as part of the […]
Intermediary Relationships after RDR
The eagerly awaited discussion document on the review of retail distribution, expected this month, has a long history. The triangular association – whereby the intermediary provides advice to the policyholder but is incentivised […]
Retail Distribution Review: Activity-based Remuneration
We commented on this very relevant topic last week. More detailed information has since come to hand. We will use this over the next few weeks to discuss what will possibly be contained […]
Simplified Advice
It has long been my contention that, unlike the socks I buy at Woollies, there are few products which can satisfy clients’ needs with a “one-size-fits-all” approach, particularly in the financial services industry. […]
FSB Outlook for the next 2 years
Improved customer service and fair advisor remuneration will be key features of the new financial services landscape. Jonathan Dixon, Deputy Executive Officer of the Financial Services Board’s Insurance Division, made some interesting comments […]
Remuneration on Section 14 transfers under review
The Retirement Funds Department of the FSB published Draft Information Circular 6 of 2013 to clarify its views on certain issues, including the payment of fees and commissions when a client elects to […]
Q & A on Cambist
We regularly receive enquiries from readers about Cambist, who offers a return of 19.5% on investments. For all practical purposes, it appears that they act as an aggregator between the public and certain […]
Retail Distribution Review Update
Plans to review the way in which products are distributed, and specifically the way in which advisors are remunerated, took centre stage in the media recently. RDR is not only about replacing commission […]
Retail Distribution Review Update
Background Up to the end of the previous century, regulation of financial services was by and large left in the hands of the industry itself. The advent of consumerism and money laundering, amongst […]
