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CityPress - - Business - COM­PILED BY NEESA MOODLEY

FNB puts a stop to unau­tho­rised debit or­ders f you bank with FNB, you will now re­ceive an SMS no­ti­fi­ca­tion every time a new debit or­der is added to your ac­count, re­gard­less of the amount. If it is an unau­tho­rised debit or­der, you can dis­pute and re­verse the trans­ac­tion by re­ply­ing to the mes­sage or log­ging on to one of FNB’s dig­i­tal plat­forms.

Ryan Prozesky, chief ex­ec­u­tive of value bank­ing so­lu­tions at FNB, says: “We have a proac­tive SMS sys­tem in place to no­tify cus­tomers if the bank sus­pects that a debit or­der may be unau­tho­rised.

“Our new sys­tem means that cus­tomers will now have com­plete trans­parency and con­trol of their ac­counts, as any new debit or­der will trig­ger an alert.”

Cur­rently, banks are able to re­verse debit or­ders im­me­di­ately and re­fund you if they are dis­puted within 40 days of re­flect­ing on your ac­count.

“Not every­one checks their ac­counts reg­u­larly, so by im­me­di­ately in­form­ing cus­tomers that a debit or­der has taken place, and by in­clud­ing the amount and the ser­vice provider’s name, cus­tomers can act quickly if they per­ceive the trans­ac­tion to be unau­tho­rised,” says Prozesky.

Along with the no­ti­fi­ca­tion sys­tem, FNB has also in­tro­duced a func­tion on the FNB app and cell­phone bank­ing plat­forms, which will al­low cus­tomers to view what cur­rent debit or­ders are run­ning off their ac­count, and it will give them the op­tion to stop, dis­pute and re­verse any debit or­ders they be­lieve to be unau­tho­rised.

INew unit trusts launched ri­vate Client Port­fo­lios, the as­set man­age­ment arm of Pri­vate Client Hold­ings, has an­nounced the launch of three new unit trust of­fer­ings – the Pri­vateClient BCI Low Eq­uity Fund, the Pri­vateClient BCI Medium Eq­uity Fund and the Pri­vateClient BCI High Eq­uity Fund.

Grant Alexan­der, direc­tor of Pri­vate Client Port­fo­lios, says: “Prior to launch­ing these new unit trusts, Pri­vate Client Port­fo­lios’ wrap funds con­sisted of a com­bi­na­tion of unit trusts that were held within a wrap model port­fo­lio ad­min­is­tra­tive struc­ture and pro­vided ex­po­sure to a com­bi­na­tion of the best-of­breed fund man­agers.

“Within the wrap model port­fo­lio en­vi­ron­ment, Pri­vate Client Hold­ings’ clients held units within a group of dif­fer­ent funds on the In­vestec plat­form – Ned­group Rain­maker and Coro­na­tion Top 20 units. Now, within the new struc­ture, clients hold Pri­vateClient BCI units, still on the In­vestec plat­form, which in turn hold these un­der­ly­ing funds.”

Alexan­der says the main ben­e­fits of the new struc­tures in­clude that they en­able the as­set man­ager to man­age your in­vest­ments at op­ti­mal ef­fi­ciency across var­i­ous plat­forms, with ac­cess to a wider uni­verse of cost-ef­fec­tive in­vest­ments and ex­per­tise, and to min­imise cap­i­tal gains tax on switches re­lat­ing to dis­cre­tionary in­vest­ments.

“This new struc­ture en­sures trans­par­ent pric­ing,” he says.

PFi­nan­cial plan­ner of 2016 ruce Flem­ing, ad­vi­sory part­ner at Ci­tadel, was named the 2016 fi­nan­cial plan­ner of the year at the Fi­nan­cial Plan­ning In­sti­tute Con­ven­tion ear­lier this week. Flem­ing was recog­nised for his su­pe­rior abil­i­ties as a fi­nan­cial ad­viser, his con­sid­er­able in­dus­try knowl­edge and his skill in the pro­fes­sion.

Flem­ing, a cer­ti­fied fi­nan­cial plan­ner, has been in­volved in the in­dus­try for 20 years. With an LLB un­der his belt, Flem­ing be­gan his ca­reer as a le­gal ad­viser at Old Mu­tual in 1995, as­sist­ing some key fi­nan­cial plan­ning busi­nesses in the coun­try. But it was through his work at Ac­sis, which he joined in 2000, that Flem­ing be­gan fi­nan­cial plan­ning in earnest.

“As a le­gal ad­viser, ini­tially I re­alised the im­por­tance of fi­nan­cial plan­ning in every­one’s life, re­gard­less of in­come level,” says Flem­ing.

“I be­lieve pas­sion­ately in pro­vid­ing fi­nan­cial plan­ning so­lu­tions to clients, as op­posed to giv­ing ad­vice on a prod­uct.

“I cre­ate be­spoke fi­nan­cial plans for every client and prospec­tive client I see.

“I out­source as­pects of the holis­tic fi­nan­cial plan­ning process that I am not an ex­pert in to spe­cial­ists in the nec­es­sary fields, such as med­i­cal aid and short-term in­surance.”


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