FSB and Sanlam Launch Consumer Education Initiative

As change sweeps South Africa's retirement fund industry it has become increasingly difficult for employers and employees to know what to expect from a retirement savings product. To ensure that South Africans are aware of their rights in terms of member representation, communication, good investment returns and sound financial advice, the Financial Services Board (FSB) and Sanlam Umbrella Solutions are pleased to announce a new joint consumer education drive.

Aimed at helping the consumer make the right choice of umbrella fund, the campaign has kicked off with the distribution of a booklet entitled '21 Important Questions To Ask Your Broker Or Financial Advisor'.

The booklet is freely available and it outlines the key areas which should be analysed when selecting an umbrella fund. These include governance and member representivity, fund sponsorship, member communications, investments, insured benefits, costs and advice. It offers insights into each of these issues, as well as advice on the questions which should be asked when researching funds. By asking these questions it should become clear whether the fund is structured with the member in mind.

This booklet will prove an invaluable tool for financial advisors and intermediaries when consulting with a client. To obtain your copy click here.