An FSP is a company or individual licensed by the Financial Sector Conduct Authority (FSCA) in South Africa to offer financial advice or intermediary services. This license is mandatory to legally provide financial services.
Concept Wealth Holdings is a financial advisory and intermediary service and a licensed FSP, providing trusted financial advice and access to financial products.
FSPs Must Adhere to the Following:
- Be registered and authorised by the FSCA (formerly known as the FSB).
- Comply with the FAIS Act (Financial Advisory and Intermediary Services Act), which governs conduct, disclosure, and competency.
- Ensure that their representatives are fit and proper, i.e., qualified, experienced, and ethical (FAIS fit and proper required qualifications).
- Have appropriate compliance systems in place to protect clients.
Concept Wealth Holdings is a company that aims to provide wider financial service offerings to the public.
Concept Wealth Holding's Key Area of Focus:
Financial Planning Our consultants use sophisticated tools and recognised methodologies to analyse your information and present you with proposals for risk cover, investments, estate and retirement planning.
Investment Planning and Wealth Management Whether it’s capital for a specific goal, or income in retirement, we take into account your tolerance of investment risks, but also the investment strategies you need to follow to reach your goals.
Retirement Planning We can determine how much capital you will need in retirement to fund your income and capital requirements – as well as the most appropriate way to save for it.
Investing We have access to investment funds across the risk spectrum, ensuring that we select the most appropriate investment for your capital and savings.
Personal Risk Planning We can help you determine your financial exposure and the best forward-thinking plan of action for possible eventualities such as disability or a critical illness.
Estate Planning The one certainty in life is that we will all pass away. Guaranteeing that your loved ones are not left high and dry should be a priority. We’ll help ensure their financial stability and comfort after you’re gone.
Business Continuity We can help you set up funding structures for buy-and-sell agreements to make sure there is a buyer for your share of the business in the event of your death or disability.
Short-term Insurance We will assist you in finding the most appropriate personal and commercial solutions that suit your unique needs.
Regulatory Requirements:
Concept Wealth Holdings operates under a regulatory framework to ensure transparency, ethics, and accountability.
Concept Wealth Holdings complies with all other regulatory requirements, such as POPIA (Protection and Personal Information Act) and will ensure your information is treated with the utmost confidentiality.
Our advisers have all the necessary qualifications to give you the most appropriate advice.
What is FAIS Fit and Proper?
According to the Financial Advisory and Intermediary Services Authority (FSCA).
"In terms of section 8 of the Financial Advisory and Intermediary Services Act the Registrar must after consultation with the Advisory Committee determine the requirements that financial services providers, key individuals and representatives of the provider must comply with.
These requirements are termed the Determination of Fit and Proper Requirements for financial services providers and their representatives. The fit and proper requirements were updated in 2008 and subsequent several amendments have been affected.
The requirements set the honesty and integrity, competency and operational ability requirements for all FSPs, key individuals and representatives. It also set out the solvency requirements applicable to FSPs".
https://www.fsca.co.za/Regulated%20Entities/Pages/FAIS-Fit-and-Proper-Requirements.aspx
