The amount of pension, provident and RA funds (about 1700) is overwhelming, and then you find out that each fund has a range of unique elements! We invited five of these funds to present to our members at a recent workshop to better understand the advice challenges that we as IFAs are facing.
Independent financial advisers need to be well equipped to comprehend the myriad of Income Tax and Pension Funds Act options open to them. One of our members, Wouter Fourie, has presented an IFA default strategy for our members, better equipping us all to understand and provide our clients, who are resigning or retiring from funds, with a range of professionally guided options to decide whether the default option of a counseling service really is their best option.
For a quick reference to this interview – you can jump to the following time points.
0.44 – Why this is important for IFAs
1.48 – The loophole of counselling services
2.40 – Where your clients may get advice
3.40 – The role of the IFA
4.05 – The benefit of SAIFAA
5.00 – A solution to help IFAs provide better advice to their clients