Sanlam's representatives

Sanlam's representatives
The role of Sanlam's representatives
The responsibilities of Sanlam's representatives
What must representatives do to comply with the provisions of FAIS?

Sanlam's representatives

Sanlam's representatives include the following:

• Sanlam financial advisers: channel head, regional general managers, regional managers, marketing managers, business development managers, legal consultants and advisers
• Sanlam Group Solutions: channel head, sales managers and advisers
• Sanlam Brokers Services: legal consultants
• Sanlam Employee Benefits: advisers

The role of Sanlam's representatives

A representative is a person rendering financial advice to clients on behalf of the FSP in terms of the conditions of employment or mandatory agreement. Representatives are therefore employees of, or intermediaries associated with, a specific FSP – in this case Sanlam – and who are qualified and competent to render financial services to the clients of the FSP.

Representatives may only act as intermediaries and provide financial advice and services if:

• Their principal – Sanlam in this case – is a licensed FSP
• They are regarded as fit and proper to act as representatives
• They are working for Sanlam in terms of their conditions of employment
• Their names are recorded in Sanlam's register of representatives.

The responsibilities of Sanlam's representatives

The following are the responsibilities of Sanlam's representatives:

• Always establishing the facts and analysing them before providing advice
• Providing appropriate advice in terms of the clients' financial needs
• Focusing on the clients' needs
• Keeping record of the advice given
• Explaining the contents of quotations to the clients
• Ensuring that clients sign only fully completed forms.

What must representatives do to comply with the provisions of FAIS?

Representatives must be individuals:

• Of honesty and integrity,
• Who are competent and have the knowledge and skills required by the fit and proper provisions, and
• Who are registered as representatives.