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Launching PROpulsion PRO, a new community set to raise the bar for the future of the financial planning profession

15 March 2021 | PROpulsion www.propulsion.co.za

The next evolution for the financial planning profession on the back of a ground-breaking live show that was started during COVID-19 and lockdown.

A dozen risks for brokers to navigate, part 1

15 March 2021 | General

The Institute of Risk Management South Africa (IRMSA) 2021 Risk Report flags a dozen risks that the country’s financial advisers and insurance brokers will have to navigate in the coming years. Over 114 pages, the report considers the impact that each of these scenarios will have on South Africa, and businesses operating here, against 10 metrics. These include leadership, institutional capacity, politics, social cohesion, national policy, service delivery, inequality, economy, global trends and climate. It would be impossible to produce a detailed newsletter on each of the 12 risks contained in the report. Instead, we will tackle the mammoth task in two parts, focussing on five of the risks in today’s newsletter and the remainder in a second instalment. We will consider how each of the overarching risks may be interpreted in the context of an advice-focused financial services provider (FSP).

Advice for small financial advisors: Scale to rebound in 2021

10 March 2021 | General

The Covid-19 pandemic has hurt small or owner-led financial advisory practices that are finding it harder to survive. One of the significant effects of the lockdowns has been the economic impact on clients and the inability of financial advisors to engage in person, limiting their ability to grow their books.

Build back better

09 March 2021 | General

Advice practices that offer risk solutions to business and individual clients had their work cut out to grow their books during lockdown and pandemic. Many of South Africa’s non-life insurance brokers adopted a survival mindset last year. Instead of chasing new business, brokers spent time assisting their personal lines policyholders with premium affordability and navigating their business clients through the sea of uncertainty surrounding business interruption claims. Andrew Coutts, Head: Intermediated Distribution at Santam, says there are five levers that will allow intermediaries to “build back better” in an evolving insurance landscape. His thoughts on taking your advice practice to the next level were shared during a presentation to the Insure Talk 9 webinar.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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