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Financial Advice

When you start to invest remember that it is your hard-earned money you are investing and your future that you are planning towards. It makes sense to receive financial advice by consulting a registered financial adviser or broker. To this end we have provided you with some information to help you make informed decisions:

  • If you feel you would benefit from professional advice please contact us today.

    Financial Advice and Investor Protection

    The Financial Intermediary and Advisory Services Act (FAIS) aims to protect investors from unsound investment advice and sub-standard financial planning products and services.

    The provisions of the Act stipulate that all advisers have to meet stringent requirements with regard to integrity, demonstrated knowledge and experience. Advisers are also required to undertake ongoing education in respect of financial services and products.

    Advisers may only give advice if they are licensed as, or represent, a licensed financial services provider. Advisers that have been licensed by the Financial Services Board (FSB) have met the requirements stipulated by the provisions of this Act and are qualified to provide you with investment advice.

    It also says that in order to offer someone financial services or advice you also need to be a properly authorised financial services provider who is qualified to sell or offer advice on a specific type of product.

    For example you may be qualified to sell a funeral plan that is a fairly simple product but you won’t necessarily be qualified to sell retirement products or conduct financial planning with a client. FAIS outlines the different levels of training required for specific financial product as well as the type of refresher training required for each product.

    We are accredited under FAIS to sell the following products.

    Under FAIS a financial services provider needs to be “fit & proper” which means of sound moral standing. An adviser needs to make full disclosures in terms of fees & charges, tax implications, restrictions and exclusions.

    The Advice Process

    The First Planning Session

    At the first session we cather information that we need to give you the best advice possible. Your information stays confidential.
     
    The first meeting is used to define your financial goals. Among other things, as adviser we want to know your current and future income and capital requirements.

    Use this session to ask questions about goal setting and financial planning. Make sure that the we understands your priorities and objectives.

    It is vital that you share your goals with your us as we will help you structure a financial plan that will help you achieve them.

    We will also need to know your current financial circumstances. This includes:

    • Your budget.
    • Any additional sources of income such as rental or investment income.
    • Your debts.
    • The provisions of your Will.
    • Details of your assets and liabilities.
    • Business involvements.
    The following documentation is also important:
    • Will.
    • Marriage certificate and contract.
    • Salary slip or income statement.
    • A record of all income streams.
    • All policy and investment documentation (and any recent correspondence).
    • A balance sheet detailing your assets and outstanding liabilities, including any business assets or liabilities.
    • A copy of your current pension/provident fund statement, and any other corporate benefits.

    Follow-up Planning Session

    We will provide you with a comprehensive needs analysis. The analysis should highlight any gaps in your current planning and ways in which to address them.

    We will introduce you to a selection of products that will suit your needs and risk.
    Listen carefully and ask as many questions as you like. Ultimately it is your future you are investing towards.

    You now have a financial plan that sets out your objectives and goals, and an action plan for achieving those goals.

    Review

    You need to review your financial plan at least once a year to make sure your plan is on track. It is also important to review your plan whenever your circumstances change.

    Adjust and fine-tune your financial plan over time. Your investment portfolio at retirement will look very different to the portfolio you had when you were 30.

    Don’t change for the sake of change. Changes normally have cost implications, and they should be carefully considered. Make sure you understand any changes your adviser recommends. Don’t be afraid to ask questions

    Take responsibility
     
    You are also responsible for your future. Your financial advisor can assist in you giving you choices but it is up to you to act.
     
     
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    Address: 697 Amandelboomroad, Pretoria
     
    FSB at www.fsp.co.za: 25405