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Consumers, advisors should prepare now for advice fees

22 January 2016

The first phase of the Retail Distribution Review (RDR) will be implemented later this year, bringing South Africa a step closer to making direct payment for financial advice a greater reality. The implications of this change will be significant not only for consumers, but also financial advisors, and both need to prepare for the new advice scenario of RDR, says Masthead.

How will your status impact your customer relations?

12 March 2015

The 55 proposals contained in the RDR discussion paper can be grouped into three categories. In previous editions Masthead has focused on activity-based services and remuneration. In this edition, Masthead deals with the relationship or status of advisors under RDR. The reason for this is because relationship and status, together with activities, feed into remuneration under RDR.

Unlock your remuneration potential by defining your customer interactions

11 March 2015

Income is the lifeblood of any business. After all, this provides the cash flow. The most pressing question is therefore, "How will the RDR proposals affect advisors’ ability to earn a sustainable income, sufficient to meet expenses and maintain current lifestyles both in the medium and longer term?” To answer this question, one needs to understand the different ways proposed for an advisor to be paid, by whom and how this differs between product types.

Financial planning criteria and hybrid advice models

10 March 2015

Under RDR, all types of financial advisors will be able to offer financial planning or risk planning as a service to their customers. However, there will be competence criteria that they will be expected to meet and conduct standards to which they will have to adhere.

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If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?

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