Guiding consumers since 2009

FPI hires new consumer advocate

By Staff Writer

The Financial Planning Institute of Southern Africa (FPI) has hired well-known certified financial planner Paul Roelofse as their new consumer advocate. Roelofse, who took on the newly created position this month, also hosts the ‘A Word on Personal Finance’ show on Radio 702 and Cape Talk 567 every Wednesday.


His appointment comes in conjunction with the FPI’s new strategy which it unveiled earlier this month. The strategy involves addressing need for the availability of qualified professional financial planners for consumers. The FPI said Roelofse will work with the FPI in driving consumer education about their real financial needs and the right to professional financial planning.


“My role is to try and create awareness among consumers on the need for financial planning. [It will involve explaining] what the process is and I will help them to understand it a lot better. At the FPI we have a lot of fully qualified financial planners and there are a lot of reasons why you should make them your first port of call as opposed to a normal advisor/consultant,” said Roelofse.


Roelofse said he would also welcome hearing about any complaints or concerns that the public had. “They could use me as a conduit if they have any questions or concerns. They can direct themselves to my desk and I will either give advice first hand or take it on to somewhere else. The financial planning institute has its own code of ethics and in that the consumers have the assurance of quality advice.”


Roelofse added that his role would complement what the FSB, which regulates the financial services industry, already does. “The FSB is the regulatory authority in the industry and there are minimum standards that financial advisors have to adhere to in order to provide advice. My role will compliment what the FSB does.”


In addition to Roelofse’s appointment the FPI will be introducing, for the first time, a professional designation for financial advisors that can be attained on completion of a specially designed FPI board examination. “The Financial Services Advisor/FSA certification effectively enables individual financial advisors to once again differentiate themselves as well as provide trusted expert advice to consumers,” said the FPI in a statement.


The FPI will also launch a new interactive website, which will provide consumers with information and answer frequently asked questions about financial planning. The FPI is a non-profit professional body formed in 1981 to improve levels of professionalism.
 

Recent Articles

Featured New homeowner? Be aware of these extra expenses

You’ve overcome all the hurdles of buying a home. You’ve managed to pay your deposit and your closing payments, and now you’re a proud title deed holder. However, there are other expenses waiting around the corner. Are you prepared?

Your biggest credit conundrums – answered

Understanding your credit health is one of the most important factors in managing your finances. This is because it gives you insight into your debt, your borrowing ability, and your financial history. While many understand this, there are still many questions on how to do just that.

Avoid debt collectors, choose debt counselling

There are two things you can do when you are struggling to pay your debt. You can either let your creditors hand your debt over to debt collectors – or you can let debt counsellors help you deal with your debt.

Retail notes: easy investment option for new investors

Being a newbie in the world of investing can be challenging because you don’t know where and how to invest. With so many investment options, you could easily be befuddled. Justmoney looks at how retail notes can help you cut your teeth in the world of investing.   

Deals

Spur's South African Combo Special

Price: R80
When: Mondays
Where: Nationwide

Translux Student Discount

Price: Depends on destination
When: Daily
Where: Nationwide

Zimbali Senior Citizens Discount

Price: From R1342.00
When: Until 14 December 2019
Where: KwaZulu Natal