Robo-advice opening up S. Africa’s financial advice market
South African robo-advice provider SmartRand has opened up the country’s financial advice market to lower level investors, creating much broader demand.
South Africa
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Third finance minister in five days lifts SA focused financials
South African President, Jacob Zuma’s decision on Sunday to name the country’s third finance minister in five days, saw the country’s currency and Johannesburg and London-listed financial stocks rebound sharply in early trade on Monday.
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Ashburton Investments acquires Atlantic Asset Management
South African investment firm Ashburton Investments will acquire 100% of Atlantic Asset Management, a boutique fixed income asset manager based in Cape Town, for an undisclosed sum.
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Brooks Macdonald expands discretionary services in S. Africa
Brooks Macdonald International has announced that its discretionary investment management services are now available to offshore investors in South Africa through the Sanlam Group’s Glacier platform.
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Old Mutual teams up businesses for South Africa HNW investors
Old Mutual Wealth is teaming up its various divisions, including Old Mutual International and Quilter Cheviot, to offer an all-round service to investors in South Africa ahead of next year’s Retail Distribution Review.
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South Africa advisers should learn from UK’s RDR
South Africa’s asset managers need to learn from the UK’s Retail Distribution Review experience and work in partnership with financial advisers when implementing next year’s regulatory changes, according to Brooks Macdonald International’s business development director.
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South Africa insurance broker fined for advice failings
A South Africa-based insurance brokerage has been fined for failing to give clients appropriate advice before selling insurance policies.
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Sanlam appoints Polin as UK chief executive
Sanlam Private Wealth, a provider of investment and wealth management services and part of South Africa-based Sanlam Group, announced on Wednesday the appointment of Jonathan Polin as UK chief executive.
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Intermediary profile: Power to the voice of South African IFAs
Ahead of RDR implementation in South Africa, IFAs would do well to consider whether to stay independent and seek other sources of revenue, or pool together to minimise governance expenses, explains Derek Smorenburg, the man behind the South African Independent Financial Advisors Association (SAIFAA).
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FPI exits all markets bar Asia, ME and South Africa
Friends Provident International is abandoning all of its global operations, excluding Hong Kong, Singapore, Dubai, and the ‘permitted jurisdictions’ of South Africa and Qatar.
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South Africa IFA firm appoints associate chief
South Africa-based financial planning firm Carrick Wealth has taken on David Morgan as its new associate director, ahead of launching its operations in Mauritius.
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South African ‘RDR’ is call to arms for industry
Life companies in South Africa could “run into trouble” if they do not start working on changes to their businesses soon, said a senior figure for Old Mutual, ahead of the country’s imminent Retail Distribution Review.