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Estate and Retirement Planning
Estate planning is the process of anticipating and arranging for the disposal of an estate. FIG will help to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses.
Investment Planning
Investment planning is the professional management of various securities (shares, bonds and other) and assets in order to meet specified investment goals for the benefit of investors. FIG will ensure excellent investment planning for all your interests.
Wealth Management
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services. FIG is able to assist high net worth individuals, small business owners and families who desire planning on this scale for a secure future.
Plexus Asset Management
LINK: www.plexus.co.za
FIG is partnered with the Plexus Asset Management, an independent investment house that specialises in the investment management of a range of unique investment solutions for both corporate and individual clients. Founded in 1995, Plexus prides itself on innovative and entrepreneurial flair.
MitonOptimal Multi-Asset Management
LINK: www.mitonoptimal.co.za
FIG is partnered with MitonOptimal Multi-Asset Management, which was founded in 2004. MitonOptimal is a performance focused investment management team that strives to achieve strength through diversity in all its portfolios and business model. They have a range of collective investment schemes (unit trusts) and segregated mandates that cater for a range of discerning private clients, independent financial advisers, family offices and institutional clients around South Africa.
Wills and Trusts
A will or testament is a legal declaration by which a person names one or more persons to manage his/her estate and provides for the transfer of their property at death. FIG will ensure that all your needs in this regard are catered for.
A trust is a valuable estate planning tool, not only planning for future estate duty liabilities, but also to create a basis for continued wealth planning for the entire family and future generations.
Buy&Sell Agreements and Keyman Cover
A buy & sell agreement is also known as a buyout agreement and is a binding agreement between co-owners of a business that governs what happens if a co-owner dies or is otherwise forced to leave the business or chooses to leave the business. FIG will assist with negotiating all the legally binding financial obligations that result from the agreements.
Keyman Cover is about protecting the continuation of your business if a key employee dies or is incapacitated.
Provident and/or Pension Funds
A provident and /or pension fund is any plan, fund or scheme which provides retirement income. Retirement funds are set up to suit each business or entity’s circumstances. The tax treatments of these funds differ and using the vehicle suitable to your business situation is key.
Chamber Provident Funds
The Chamber Provident fund is sponsored by FIG and is a duly registered fund with the FSB. Its vision is to provide sustainable retirement plans to the Small Medium Enterprises at affordable fees. Read more...
Medical Aids
A registered medical aid with the Medical council takes care of in hospital and out of hospital needs according to the plan selected. Individuals as well as employers may enter into an open medical plan.
Financial Advisory Intermediary Services Act
(Act 37, 2002 of the Republic of South Africa)
The purpose of the Financial Advisory and Intermediary Services Act (FAIS Act) is to regulate the activities of all financial service providers who give advice or provide intermediary services to clients as regards certain financial products. The Act requires that such providers be licensed and that professional conduct be controlled through a code of conduct and specific enforcement measures.
The FAIS Act applies to any body that offers financial advice and/or provides an intermediary service to a client on any transaction that has to do with a financial product.
FIG has adopted a specific strategy to assist its clients in becoming compliant in terms of FAIS.
This act aims to offer consumers far greater protection than before. It regulates the quality of financial advice, as well as the selling of financial products.
This means that clients are entitled to full transparency and disclosure of information and fees on any financial product made available.
Good record keeping of all transactions is key and regular compliance audits ensure that we comply with this regulation.
In terms of FAIS, you will be requested sign a mandate which will ensure that your planning is carried out in according to agreed parameters and shared understanding. In turn you will agree to provide FIG with all the information that may be needed to ensure your planning is in accordance with your needs and situation.
Financial Intelligence Centre Act
(Act 38 of 2001 of the Republic of South Africa)
The Financial Intelligence Centre Act is an anti-money laundering legislation, ushered in by the Republic of South Africa in 2003. It intends to protect all legal investments and finances and discover and pursue all those involved with money laundering actions. Money laundering is any action that clouds the illegal nature or the existence, location or application of proceeds of a crime. To protect investors' funds from money laundering activities all financial organisations and their investors must abide by FICA.
This legislation aims to combat money laundering. Money laundering is defined as any act to hide or disguise the true source of criminally derived funds (the proceeds of a crime). This covers money or any other benefit gained from any unlawful act, which includes contravening the Exchange Control Act, or any other law or regulation.
It imposes an obligation on an accountable institution to conduct our business in line with FICA, with severe penalties for non-compliance.
This includes an obligation to know and verify the identify of clients, as well as maintaining records of all dealings with clients.
With FICA, all financial planners are under legal obligation to report any suspicious or unusual transaction to the Financial Intelligence Centre. At FIG, our staff are trained and tested in this regard for audit by the Financial Services Board.
Promotion of Access to Information
(Act 2 of 2000 of the Republic of South Africa)
South Africa's Constitution gives every person the right of access to information, held by a public or private body that is required for the exercise or protection of any right. The Promotion of Access to Information Act of 2000 gives effect to this right.
The Pension Fund Act 1946 (as amended)
This legislation provides the regulatory background and guidelines to the managing and administering of all retirement funds. It provides protection to members and employers. The operation of all service providers under this act is overseen by the Financial Services Board. The Pension Fund Adjudicator acts as the “watchdog” and assists members and employers with any complaints.
