Bringing a client on board is a process that often starts with a phone call or an email and then proceeds as follows:
- Email correspondence to discuss what you’re looking to achieve
- Provide financial information that will help with the needs analysis
- Draft a needs analysis and record of advice (collectively known as the investment proposal)
- Meet in person or via ZOOM to discuss the investment proposal
- Accept or amend the investment proposal
- Collect all FICA documents and sign internal compliance documents.
- Our admin department sends all the ‘take on documentation’ that the client has provided, to the platform. An investment account with the chosen administrator is established for the client with a unique reference number.
- The platform provides the inflow banking details. The client’s investment funds are deposited into this account and credited to the client’s unique reference number and allocated to his /her investment portfolio.
- The client is sent proof of investment.
- FSIM will report to the client monthly.
Protecting the Client
We’ve all heard horror stories about how investments have been misappropriated. These situations could have been avoided if investors had been aware of key safeguards when first considering an investment solution. Regardless of whether you choose to invest with us, please take careful note of the following safety measures, which will ensure this doesn’t happen to you.
- The Financial Service Provider needs to be registered with the FSCA.
- The financial products being considered need to have been approved by the FSCA.
- Capital that flows into your portfolio must always flow into the administrator’s bank account and not the account of the financial service provider.
- For example, any client investment funds will be deposited into either Glacier, Allan Gray or NinetyOne’s bank account – not FSIM’s bank account.
- Any redemptions out of a client’s portfolio will always flow into the client’s bank account that the administer has on record, never a third party.
- Any changes of personal details will always need to be verified by the client themselves i.e., change of banking details, home address or cell phone number.
By following these simple steps, the client is always protected.
Our Core Principles
Transparency
Our industry is littered with jargon and hidden fees. We cut through all of the complicated and sometimes unnecessary terminology to break things down into simple manageable components.
Personal Interaction
In many respects, the investment management industry seems to have lost its way in terms of client relationship management. We focus on a direct, personalised and professional service.
Simplicity
The industry can sometimes seem very complicated. 90% of your goals can be achieved in a very simple manner. Of course, certain situations lend themselves to complicated solutions, but in general we aim to ensure we keep things transparent and simple.
Cost Containment
Fees ultimately eat into investment returns. The lower we can keep your total investment costs, the better you will do.
Long-term Relationships
Although there are no long-term obligations in terms of the mandate you sign, we aim to align client relationships with long time horizons. As with investment markets, the longer you remain invested the better you tend to do. The same applies with client / adviser relationships – they become more and more mutually beneficial over time.
Independence
The fact that we’re able to manage your money directly for you, or make use of third-party managers, ensures we create a perfect platform from which to remain completely independent. This ensures there is no conflict of interests or hidden agendas that might influence decision making.