FedGroup: Putting the Beneficiary first

01 November 2012 Grant Field, FedGroup Financial Services

FedGroup’s value proposition is in the investment that it makes in Beneficiaries. The company’s simple product offering and transparent fee structure combines with its experienced administration team and professional Trustees to ensure that the Beneficiary is always top of mind, says Grant Field, Executive : Operations of FedGroup Financial Services.

The re-launch of FedGroup’s Beneficiary Care offering kicks off in November 2012, having held exclusive pre-launch sessions in Johannesburg, Cape Town, Durban and Pretoria. The event follows a strategicdecision taken recently to refine the FedGroup Beneficiary Care offering from three products to two, namely Provider and Guardian.

Keeping it simple

The " simpler and cheaper” product stable now houses the Provider and Guardian products, each designed to offer simplicity in terms of structure, fees and service.

Provider offers a cost effective option to Guardians who have been tasked with taking care of a minor child. This product has annual, quarterly or monthly payments as well as capital growth.

The group’s Guardian product is the only truly managed product within the industry. Features of the product include active Trustee involvement, negotiation of payments and direct third party payments, each designed to safeguard the Beneficiary.

To the benefit of the Beneficiary

Cost remains the main concern among regulators in the financial services space. To this end FedGroup has implemented a new and reduced fee structure.

Since introducing their Beneficiary Care in 2009, the company has experienced positive growth. This growth coupled with enhanced systems, has allowed it to aggressively reduce its fees, ensuring that savings are passed on to Beneficiaries.

FedGroup boasts dynamic systems and processes that allow it flexibility and cost efficiency that is not offered by any other provider within the Beneficiary Fund industry. No dissolution fee is charged, all fees are quantifiable upfront and cost recoveries are fixed.

FedGroup has also streamlined its Beneficiary Care application form. The new form is only one page long, a first in the industry.

Market leaders

In terms of experience, transparency and systems, FedGroup is the market leader within the Beneficiary Fund landscape. The average experience of members in their administration team is more than 10 years. Moreover, each and every member of the team possesses the most important quality required to care for minor Beneficiaries: They are parents.

Likewise, FedGroup Trust Administrators are guided by Trustees who hold extensive experience in the Beneficiary Fund industry. The combination of expert administration skills and Trustee experience ensures both technical competence and empathy for Beneficiaries.

Plenty of broker assistance

FedGroup’sBeneficiary Care re-launch affords brokers an opportunity to request additional targeted assistance for their firms. For example, FedGroup offer brokers the option of presenting to their Board of Trustees.

If a Broker indicates the need for such a presentation, then a FedGroup product specialist will be available to assist. A co-branded Tender document will also be prepared for the Board of Trustees.

As part of their personal touch FedGroup will also offer exclusive co-branded events to brokers who wish to introduce the Beneficiary Care offering to potential clients. These events will be organised by FedGroup’s marketing team and will be hosted by a FedGroup product specialist, with support from the relevant broker consultant.

Targeted training

If a Broker stipulates a need for sales training, a broker consultant accompanied by a product specialist will set aside time to educate the broker and his or her team. This training will focus on the key differentiators of the Beneficiary Care offering.

Administrative training can also be provided. In this case a broker consultant accompanied by a member of FedGroup’s administration team will take the time to assist the broker and his or her clients. Administrative training will include an overview of the Beneficiary Care offering, fee structure and simplified application form.

New marketing materials

FedGroup’s refined offering makes its public debut on the 1st of November 2012. Make sure you get hold of the refreshed marketing material that includes a new Beneficiary Care brochure, a Member’s Booklet and Case Studies. Updates are available at www.fedgroup.co.za or from your FedGroup broker consultant.