Citywire SA Adviser

The FSCA South Africa has provisionally withdrawn the licence of online trading platform Banxso ™ and the Financial Intelligence Centre has placed a hold on seven of its bank accounts. The move follows the #FSCA’s investigation into #Banxso’s activities and its possible association with the Immediate Matrix #deepfake advertisements #Onlinetrading #trading #FSPs #FinanceNews

The Association for Savings & Investment South Africa (ASISA) recently analyzed the data across South African life insurers for the first six months of 2024, against a very challenging economic backdrop. Although growth was slight, I am optimistic that there is light at the end of the tunnel for consumers.    The recover in the Rand, if sustained, will positively impact fuel prices, while the 0.25% interest rate cut, although small, will hopefully be the first of many, bringing relief to indebted consumers and stimulating economic growth. Overall, sentiment seems to have changed for the positive following the peaceful transition to a Government of National Unity post the elections and the suspension of load-shedding. You can read the article below to learn more about the current landscape of #LifeInsurance in #SouthAfrica. https://lnkd.in/dJ9bspqu 

A recent Financial Services Tribunal ruling in favour of an Alexforbes #financialadviser, confirming a FAIS Ombud SA decision, showed the importance of taking detailed notes when offering advice to clients, writes Jaco Visser. #RoA #FinanceNews #FinancialPlanning #FinancialAdvisers

The former key individual of Gundo Wealth Solutions, Ralliom Razwinane, has been penalised R3m and received a 10-year #debarment by the FSCA South Africa. Razwinane was found to have breached financial conduct laws in advising clients to invest in #VBS Bank, including the Community Schemes Ombud Services and the #Polokwane Local Municipality. #VBSBank #FSCA #FinanceNews #Wealthfirms #financialadvisers

Paul Nixon CFP® MBA's latest 'Behaviour Bites' column looks at why the same cognitive dissonance that Walter White turns to in TV show 'Breaking Bad' is likely what challenges #twopot withdrawers who don’t actually need the money – they only want it. Momentum Investments' Nixon writes a monthly column for #Citywire with learnings from #behaviouralfinance for #financialadvisers and #wealthmanagers to apply with their clients. Read more here... #financialplanners #financialadvice #FinanceNews #retirementplanning Momentum Momentum Group Limited https://lnkd.in/dBar-7Xn

Serala Wealth Managers FSP46663 CFP, Katleho Khatlisi, CFP®, believes #advisers can integrate much into their primary functions to provide clients with sound and informed advice. #Adviserprofile https://lnkd.in/db7KzBG4

Financial service providers can’t contract away the obligation of #debarment. The Financial Services Tribunal dismissed an application for the reconsideration of debarment in a case where clients’ information was divulged, Jaco Visser writes. #Regulation https://lnkd.in/dXYkc5KX

#Regulatorychallenges and industry tensions strain SA’s #medicalschemes sector. As tensions escalate between the Council for Medical Schemes and private #medicalaid schemes, questions loom for brokers caught in the middle, RUAN JOOSTE writes. #Insurance https://lnkd.in/d8fPcxVU

Sanlam misses the mattress in customary dispute. #Ombudsman rules against life insurer’s requirement that a woman must sit on a mattress and mourn her husband to prove they were spouses. #lifeinsurance https://lnkd.in/dE-an3xD

Johann Peens CFP ®:  Are you busy stealing from your employees? Peens emphasises the need for proper #financialadvice and record-keeping in #retirementfund management, highlighting alarming cases of mismanaged contributions and lack of transparency. #Opinion https://lnkd.in/diRHhg_H