Intermediaries / Brokers / General

Have you forgotten about your client?

The compliance and operational challenges facing 21st Century financial and risk advice practices often shifts focus away from the critical dual roles of offering impartial, quality financial advice and implementing needs-appropriate financial solutions to clients. No surprise then, that the Financial Intermediaries Association of Southern Africa (FIA) 2022 Advice Summit singled out client centricity as among the dominant themes affecting intermediaries and product providers today. Being able to meet evolving client needs enjoyed as much exposure as ‘big picture’ issues like climate change, cyber risk, digitalisation and sustainable underwriting.

An adviser worth their salt: Understanding the impact of the outside

Expect more demanding consumers

The changing nature of the customer of today, will present challenges for the life insurance industry.

Your PI cover may not be enough

South Africa’s risk and financial advisers must pay close attention to the terms and conditions contained in their professional indemnity (PI) insurance covers and realise that these policies are unlikely to perform for all possible scenarios. Steve von Roretz, Director at Leppard Underwriting, kicked off his presentation to the Financial Intermediaries of Southern Africa (FIA) 2022 Advice Summit by observing that intermediaries were increasingly blamed for everything that went wrong in the insurance value chain. Hence the title of his talk: ‘Financial services providers (FSPs) at risk’.