Our Insurance & Investment Department offers the following services:
- We are an accredited financial advisor with Old Mutual , Old Mutual Group Schemes
, Sanlam, ShareMax, Mutual & Federal, Discovery Life, Liberty Life, Assupol, Rentmeester,
Advanced Wealth, Astute, Hollard, Regent Insurance, HCV (Heavy Commercial Vehicle
Insurance) & S A Eagle.
- Analysing and evaluation of the insurance and investment
portfolio of the client, who grants us written permission per signed mandate and
has read and understands the policyholder protection rules and total cost disclosures.
- Providing life, disability and funeral insurance for the individuals who require
it according to a full financial needs analysis as per FIAS Regulations.
- Providing Endowment insurance/Unit Trust Investments for short to medium term investment
- Setting up a pension and retirement plan for the business owner and employees.
- Drafting of a Will and Last Testament for the individual and his family.
- Setting up an employee benefit scheme for the employees of the business for purposes
of group life cover, disability cover and retirement funds.
- Marketing of Commercial and Residential property investments either by a Share Incentive
Scheme or by Multi Manager Funds listed with the FSB (Financial Services Board).
- Retirement planning in respect of a client's retirement income which will maintain
his lifestyle and capital needs.
- Specialist advice in respect of asset management, asset allocation, investments
and other sophisticated investment instruments.
- Advice in respect of long-term insurance such as retirement annuities, endowment
policies and life insurance at the insurance company of your choice.
- Advice in respect of short-term insurance for your personal assets (e.g. motor vehicles
and household contents) and business assets (office equipment, machinery, buildings,
etc) at the insurance company of your choice.
- Estate planning to structure a client's money matters in respect of his will, property,
trusts, insurance, income and estate duty.
- Financing of individuals and business ventures.
- Handling of foreign investments.
- Handling of share transactions.
- Handling of discretionary portfolios unique to an individual client.
- Advice on healthcare solutions, at the medical aid of your choice.
- Monthly feedback and reports on the state of managed portfolios.
- Advice in respect of employee benefits and related matters as well as pension and
THE FINCOR FINANCIAL PLANNING PROCESS
Fincor is aligned with the new legislative environment and has implemented a standard
financial planning and investment process to meet all the requirements in terms
of the relevant laws that apply to financial and investment planning.
Our main objective is to lead our clients into making well-informed financial and
investment decisions. In order to achieve this we follow a six step process:
Step 1: Develop and establish a professional relationship between financial planner
and client "Without a purpose, nothing should be done." - Marcus Aurelius
Step 2: Gather information and discuss strategies "If you are not keeping score,
you are only practicing." - Hugh Collum
Step 3: Analyse and evaluate the financial status of the client "To inform means
nothing if it is not understood"
Step 4: Develop a financial strategy and present recommendations to our client "The
whole anatomy should work together as one piece of mechanism." - Harry Vardon
Step 5: Implement recommendations "Nothing in life is to be feared. It is only to
be understood." - Marie Curie
Step 6: Monitor the financial plan and recommendations "As is our confidence, so
is our capacity." - William Hazlitt
Step 1: Develop and establish a professional relationship between financial planner
A continuous and professional relationship between our financial planner and our
client is crucial to the success of any financial planning.
The first step is to obtain all the relevant information from our (potential) client
in order to determine his/her financial planning and/or investment needs. Experience
has taught us that most of the complaints in financial services originate from miscommunication
regarding the objective. Therefore we regard the financial and/or investment objective
as the single most important element in the plan and we spend most of our time to
make sure that we understand our clients’ needs. If one wants to do a proper analysis
from the start, it is necessary to do all the homework before the next step is taken.
We encourage our clients to assist us in this regard because we believe that the
following principle is true. The beginning is the most important part of the work.
Financial planning objective(s):
The financial objective(s) of our clients may include the following:
- Estate planning and drawing up a will
- Risk benefits (life cover and disability
cover and/or short term insurance)
- Holistic financial planning
Planning for retirement
- Planning at retirement
- Planning after retirement
To simplify the process we only need to differentiate between three basic investment
objective categories, namely:
- Capital guarantees and/or income generating objective
- Capital preservation objective
- Capital creation objective
To us it is absolutely vital that our clients understand the difference between
these objectives because only then can we proceed with confidence.
Step 2: Gather information and discuss strategies
We recognise the need to measure our advice according to a benchmark that sets the
standard in the industry. Our benchmarks of “best advice” and offering “superior
services” are the cornerstones of our process as our proposals and client service
are measured against the highest standards.
We are committed to setting the highest possible standard when it comes to giving
financial advice in the interest of our clients and to measure our performance (keeping
the score) on a regular basis.
We select appropriate benchmarks in order to measure investment performance relative
to each specific objective. Historically, the absence of appropriate benchmarks
has led to numerous disagreements pertaining to investment performance. By agreeing
on appropriate benchmarks to measure future performance before the money is actually
invested we reduce the risk of miscommunication and creating unrealistic expectations.
We believe that investors need to get a grip on the appropriate benchmarks. It is
the cornerstone of the investment process and everything else, including the strategy,
should revolve around it when measuring performance.
Step 3: Analyse and evaluate the financial status of the client
Our financial and investment proposals and plans are aimed at achieving our client’s
objective(s). After the objectives have been agreed to and the benchmarks set, it
becomes very easy to determine if the financial strategy is designed to achieve
our client’s objectives. The Financial Advisory and Intermediary Services Act aims
to set the standard by referring to “appropriate advice” as the requirement. At
Fincor we want to raise the standard.
We are passionate about giving advice that will help our clients to succeed. With
our process it is easy to determine if our proposals are in line with our beliefs.
The same principle applies to investors and at Fincor we need to make sure that
our clients’ investment strategy is designed to achieve the investment objective
as agreed to. We further recognise that: “To inform achieves nothing if it is not
understood.” For this reason we have simplified our investment solution to enable
us to measure our clients’ level of understanding and confidence in our proposed
Step 4: Develop a financial strategy and present recommendations
We believe that if we align our interests with those of our clients, both parties
will reap the ultimate benefit. Our financial advice, service model and remuneration
structure have to work together to achieve the best possible results in the interest
of our clients.
We aim to give best advice, offer our clients a service model that they are comfortable
with and together with our fee structure represents a value proposition that can
set the standard.
We regard our clients as partners in our business because the one depends on the
other. That is why we present financial solutions to our clients that we are prepared
to invest in ourselves.
After the first three principles have been agreed to, we explain how our service
model will assist our clients in achieving his/her objectives. Before any final
decision can be made, we would like to have the assurance that our clients are comfortable
with our service model.
Fincor value offering was designed around the principle of alignment. Our service
model and fee structure are designed to support our clients as it ensures that we
will reap the benefits if our clients achieve their objectives.
Step 5: Implement recommendations
Making emotional financial decisions is dangerous, because in most cases the results
turn out to be disastrous. We believe that uncertainty and doubt lead to fear and
greed normally leads to unreasonable expectations.
We have therefore designed a model that enables our clients to measure whether they
are in a position to approve our proposal, by making a well-informed financial and/or
investment decisions, as opposed to an emotional decision.
After the previous building blocks have been put firmly in place, we are in a position
to implement the financial and/or investment strategy with confidence. As advisors
we also need to implement the strategy with confidence because our future also depends
on the long term success of the plan. As indicated above, our financial planning
process is aimed at leading our clients to making well-informed financial and investment
decisions and providing them with every possibility of achieving their goals. A
better understanding of all the elements in the financial plan will ensure that
our clients can make balanced decisions.
The investment process is a chain reaction. If you make one good move, it generally
leads to another. The previous four steps in the process provide our clients with
sound building blocks which will enable them to make unemotional well-informed decisions
Step 6: Monitor the financial plan and recommendations
One of the areas where we differentiate ourselves from our competitors is to measure
our clients’ level of understanding and confidence in the financial and investment
Our clients’ financial future is at stake. Therefore we need to ensure that every
single client has the necessary confidence in the decision that is about to be taken.
Our process takes every client to the point where he/she can make a well-informed
financial decision with confidence.