Financial Advisory & Intermediary Services Act (FAIS), 2002
This act aims to offer you as the consumer far greater protection than before. It regulates the quality of financial advice, as well as the selling of financial products.
For clients, it means that you are entitled to full transparency and disclosure of information and fees on any financial product that is sold to you.
For PSG Konsult, it means that we are obliged to keep proper records of all transactions and client contacts, as well as complying with legislation aimed at addressing the quality of advice that is given.
In line with this law and to ensure that you get the best advice, PSG Konsult and all our financial planners are licensed with the Financial Services Board (FSB), the controlling body that ensures that financial planners, advisors and brokers are properly trained to an acceptable industry standard.
All PSG Konsult financial planners will be able to show you a certificate of our licence on request. Our FSP licence Number is 728.
In terms of FAIS, you will be requested by your financial planner to inter alia sign a mandate which will ensure that your investments are carried out in according to agreed parameters and shared understanding.