NMG Benefits launches Member 1st (M1) Division

19 October 2023 NMG Benefits
Geoff Baars

Geoff Baars

Independent advisory firm NMG Benefits has added a new offering to its portfolio: the Member 1st (M1) Division, consisting of salaried Benefit Counsellors committed to helping employees of NMG’s clients make the best decisions throughout their employment journey, in order to achieve long-term financial stability.

Geoff Baars, CEO & Chairman of NMG Benefits says that “your protection and investment decisions should reflect where you are in life, so that all eventualities are covered, including updating your insurance, retirement, and healthcare policies annually and after major life events, such as having a baby or moving house.

However, many of our members don’t have a personal financial adviser, and aren’t getting the right advice for their specific needs - this is the gap that the M1 Division and its Benefit Counsellors aims to close‘’, says Baars.

M1 equips members with the knowledge needed to make informed decisions, from day one, using a variety of tools and guides. The process starts when a new employee of an NMG client is ‘on-boarded’, and continues for the duration of their employment, at regular touchpoints including annual reviews, wellness days and changes in circumstances. These engagements educate and empower employees to make sound financial choices.

M1 Benefit Counsellors provide support on:

1. Financial basics: Giving guidance on budgeting, saving, debt management, and understanding financial products and services.
2. Fund benefits: Helping members to understand and optimise their fund benefits (including insurance options and investment choices).
3. Healthcare options: Providing members with guidance on key decisions – the Medical Aid options, Gap cover purchases and future funding.
4. Retirement planning: Giving guidance based on members’ proximity to retirement, including on contribution rates, consolidation of savings, retirement choices, etc.).
5. Retirement Annuity options: Aiding retiring members to compare annuity options, including those offered by the fund itself.
6. Wills: Educating members on the available options and legal requirements.

“We are committed to transparency, trust, and finding better ways to support members throughout their financial journey. Our Benefits Counsellors reflect our company’s passion for changing lives by sharing knowledge and access to financial resources”, says Baars.

Quick Polls


How confident are you that insurers treat policyholders fairly, according to the Treating Customers Fairly (TCF) principles?


Very confident, insurers prioritise fair treatment
Somewhat confident, but improvements are needed
Not confident, there are significant issues with fair treatment
fanews magazine
FAnews June 2024 Get the latest issue of FAnews

This month's headlines

Understanding prescription in claims for professional negligence
Climate change… the single biggest risk facing insurers
Insuring the unpredictable: 2024 global election risks
Financial advice crucial as clients’ Life policy premiums rise sharply
Guiding clients through the Two-Pot Retirement System
There is diversification, and true diversification – choose wisely
Decoding the shift in investment patterns
Subscribe now