South Africa’s Financial Services Board (FSB) will limit upfront commission to 50%, with the remainder set to be paid on an “as and when” basis as further details emerge on how the regulator will introduce the first set of Retail Distribution Review (RDR) measures.
Cross-border financial planning firm Aisa International has expanded into South Africa after being granted a licence by the country’s financial services regulator.
South African regulator, the Financial Services Board (FSB), has revealed details on how it will implement a cap on commission payments as part of the country’s Retail Distribution Review (RDR).
Isle of Man-based pension provider Optimus has launched a new offshore retirement fund aimed at wealthy South Africans.
South African tax authorities may clamp down on the way overseas pension products are taxed, according to Martin Hall, director of Isle of Man-based Optimus.
South African financial services group, Sanlam has acquired bigger stakes in two Indian insurance companies, following recent regulatory changes that allow up to 49% foreign shareholding in insurance companies in the country.
The financial advisory space is undergoing an enormous amount of flux at the moment.
The rand got another lift on Wednesday reaching its strongest level in over a month against the dollar after the courts ruled that the Public Protector’s report into so-called ‘state capture’ must be released.
“One of the biggest challenges I have faced as an adviser in South Africa in the past few years is generating a positive return for clients from international equities,” says Mark Jurgens, head of the Jurgens Group.
South Africa’s government could be looking to introduce a wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.
South Africa’s Inkunzi Wealth Group (IWGSA) has launched a robo-advice tool aimed at the country’s professionals.
The fourth set of winners to be revealed in International Adviser’s Best Practice Adviser Awards 2016 series for the South African region were announced on Tuesday afternoon at the Vineyard, Cape Town after the Future Advisory Forum Cape Town.
