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Fair remuneration is important to South Africa’s intermediaries and the sustainability of advice-based practices is crucial to ensure fair outcomes for consumers of financial product.
The recent debacle into the new Social Grant payment system not only highlights a possible lack of good political decision making, but it also shows the importance of saving and building up a retirement income. The plight of the South African pensioner is well known. But can we sink below current levels?
A low hanging fruit, as an idiom, refers to the most easily achieved of a set of tasks, measures, or goals. Targeting this may seem lazy; however, it is an effective way to ensure productivity, and in some cases profitability, when push comes to shove.
One of the criticisms levelled against the financial services industry is that at times it can be a secretive industry. At the end of the day, there is little engagement with clients when it comes to all industry changes and how these changes will impact them. This was the basis for the first consumer aimed event that the Financial Services Board (FSB) and National Treasury participated in, which was held on 3 March. The event was hosted by the Sowetan Newspaper and gathered a crowd of brokers, advisers and concerned citizens to talk about how regulatory reform will impact them.