HEARD on the street
Veritas Wealth will be hosting four free financial planning workshops in conjunction with the Financial Planning Institute of Southern Africa as part of Financial Planning Week on August 26, 27 and 28 in Cape Town. Budgeting, debt and how to save
The workshop has been tailored specifically for people who work as domestic workers and gardeners.
It will allow these workers the opportunity to discuss their specific needs with a certified financial planner.
The workshop will be conducted in isiXhosa, Afrikaans and English.
Entrance is free and snacks will be provided. August 26 Venue: Parow Golf Club Time: 4pm-5pm Space is limited. RSVP to Tamsin: firstname.lastname@example.org or call 021 671 0799 August 27 Venue: Claremont Hall, Bath Road, Claremont Time: 4pm-5pm Space is limited. RSVP to Nicola: email@example.com or call 021 671 0799 Getting you on the right track
This workshop has been tailored specifically for people between the ages of 20 and 35.
It will allow them the opportunity to discuss their specific needs with a certified financial planner.
Entrance is free and snacks will be provided. August 26 Venue: Allan Gray Auditorium, 1 Silo Square, V&A Waterfront Time: 6pm-7pm RSVP to Nicola: firstname.lastname@example.org or call 021 671 0799 August 28 Venue: Old Mutual Regional Support Centre, 2nd Floor, Southgate Office Park, Carl Cronje Drive, Tygerwaterfront Time: 6pm-7pm RSVP to Tamsin: email@example.com or call 021 671 0799
The Financial Services Board (FSB) issued a warning this week for people to exercise caution when dealing with Fraser Mackie Wealth Management, which is based in Santo Domingo in the Dominican Republic.
According to the FSB, the company has been soliciting South Africans regarding “investment opportunities” with the promise of huge returns of as much as up to double the initial “investment”.
This company is not authorised as a financial services provider and is not allowed to render financial services in South Africa.
Any company that you purchase a financial product or service from must be authorised by the FSB.
You can check if the company you are dealing with is a licensed provider and has the authority to sell the product or service being advertised by calling the FSB on 0800 202 087 or 0800 110 443.
The US dollar-denominated RECM Global Feeder Fund was closed to retail investors in February this year after it was fully subscribed.
But you can now invest in the Prescient RECM Global Feeder Fund.
It will allow you to access the RECM Global Fund on the same basis and at the same fees as the RECM Global Feeder Fund.
The minimum investment in the Prescient RECM Global Feeder Fund is R150 000.
The fund aims to achieve a benchmark return of US inflation plus 6% a year.
You can invest in the fund directly via the website,
or a financial adviser, or service providers such as Allan Gray and Investec.