Ran from 18 Feb 2021 to 24 Feb 2021
Who has paid the biggest price for regulation/legislation?
Results
| Insurers (28.57%) |
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| Intermediaries (30.36%) |
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| All the stakeholders (41.07%) |
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Ran from 09 Feb 2021 to 17 Feb 2021
The Tax Administration Laws Amendment Act No. 24 of 2020 (TALAA) criminalises taxpayers for something called negligent non-compliance. What are your views on changes that give the tax authority power to fine or imprison otherwise law abiding citizens?
Results
| [a] Getting tough on tax non-compliance is the right thing to do. (21.15%) |
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| [b] Madness. This is regulatory overreach. (51.92%) |
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| [c] Never file tax without an adviser. (11.54%) |
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| [d] Storm in a tea-cup. SARS has always had such powers. (15.38%) |
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Ran from 02 Feb 2021 to 08 Feb 2021
It is unclear what role medical scheme brokers will play following the implementation of the country’s National Health Insurance (NHI) scheme? Which of the following scenarios are, in your view, the most likely?
Results
| [a] Brokers join NHI as state-employed consultants. (10.81%) |
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| [b] Brokers sell medical schemes to a shrinking customer base. (29.73%) |
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| [c] Medical schemes disappear; brokers sell health insurance only. (16.22%) |
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| [d] NHI will be put on hold. (43.24%) |
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Ran from 31 Jan 2021 to 19 Feb 2021
Claims notifications for the year… what are we likely to see in 2021?
Results
| Principal agents being held liable in the contracting environment (0%) |
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| An increase in defamation lawsuits between professionals (0%) |
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| Undertaking professional work outside the specific field of expertise (0%) |
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| Impractical and unclear contracts that do not reflect the intentions of parties (0%) |
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Ran from 14 Jan 2021 to 31 Jan 2021
How to give affordable and appropriate financial advice to the low income market segment. There is little room on a R50 pm policy for advisers to be remunerated for the time it would it would take to educate & fulfil admin function. What is the solution?
Results
| [a] Eliminate non-advice sales / telesales (7.46%) |
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| [b] Implement industry standards for non-advice information (29.85%) |
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| [c] Introduce an insurer-funded pro-bono advice network to low income earners (52.24%) |
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| [d] Reinforce the Policyholder Protection Rules (10.45%) |
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Ran from 12 Jan 2021 to 13 Jan 2021
What could be the biggest differentiator in 2021?
Results
| Operations and customer experience (40%) |
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| Generating continuous innovation in insurance policies (46.67%) |
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| Sales strategies (13.33%) |
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Ran from 08 Dec 2020 to 11 Jan 2021
There may be a view that the client is always blameless and the broker/adviser, the perpetrator of bad tricks. Do you believe the industry is dragging its feet when it comes to TCF?
Results
| No, there are many cases where the adviser/broker did provide suitable advice, yet the complainant still approaches the Ombud (45%) |
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| Yes, many still do not understand TCF (21.67%) |
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| No, because some (33.33%) |
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Ran from 30 Nov 2020 to 07 Dec 2020
ASISA’s lobbying of the SARB to suspend Circular 15, which contained significant changes to foreign exchange controls. What is your take on this accusation?
Results
| [a] ASISA was right to seek clarity on Circular 15 (31.82%) |
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| [b] Large asset managers are conflicted & will suffer financially if Circular 15 stands (54.55%) |
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| [c] Savers get enough exposure to offshore assets under existing Reg 28 (9.09%) |
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| [d] Who cares? (4.55%) |
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Ran from 16 Nov 2020 to 30 Nov 2020
Which of the following business models do you favour to achieve a sustainable succession outcome in your financial advice practice?
Results
| [a] I will find an independent financial planner to buy my business (17.65%) |
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| [b] I will sell a portion of my advice practice to a large corporate (14.71%) |
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| [c] I will join a large firm and give up my independence (8.82%) |
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| [d] I will invite another independent financial planner to join me (44.12%) |
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| [e] I will partner with a large firm (14.71%) |
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Ran from 04 Nov 2020 to 15 Nov 2020
How ready are you for the 1 July 2021 deadline for full compliance with the Protection of Personal Information (POPI) Act?
Results
| We are 90% of the way there; just putting the final touches to our POPI plan. (41.67%) |
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| We are more than halfway there; we will not struggle to make the deadline. (13.89%) |
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| We are still figuring out what is required from us for POPI compliance (30.56%) |
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| Remind me, what is POPI again? (13.89%) |
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