Transitioning from SETA to QCTO: A Deep Dive into the New Financial Education Landscape in South Africa

ByAndile Hours

Introduction The landscape of accredited courses in South Africa is undergoing a significant transformation with the shift from the Sector Education and Training Authority (SETA) to the Quality Council for Trades and Occupations (QCTO). This move aims to standardise qualifications and improve the quality of education and training in various sectors, including financial services. This article provides an in-depth analysis of how this transition affects financial planning education, specifically focusing on INSETA courses, their breakdown…

Demystifying the Two-Pot Pension System: What South Africans Need to Know

Demystifying the Two-Pot Pension System: What South Africans Need to Know

ByAndile Hours

Introduction In a significant move aimed at improving retirement outcomes, South Africa has introduced the two-pot pension system. This new framework is designed to provide greater flexibility and security to employees, ensuring that they have sufficient funds during their retirement years. As specialists in financial education, FinLite is dedicated to empowering individuals, companies, and pension funds with the knowledge needed to navigate this transition effectively. This blog post offers a detailed look at the key…

Transforming Financial Wellness: How Finlite Empowered a Major JSE-Listed Industrial Company’s Workforce

ByAndile Hours

Introduction In the evolving landscape of the modern workplace, the concept of employee financial wellness has gained unprecedented momentum. It’s a crucial aspect of workforce management, especially in diverse economic environments like South Africa. Finlite Financial Education, a pioneer in this realm, recently undertook a transformative journey with a JSE-listed industrial company, reshaping the financial lives of over 500 employees. Background of the Company and Challenge Faced This industrial giant, with a workforce of both…

Dofa Date Explained

Dofa Date Explained

ByAndile Hours

FAIS Fit and Proper Requirements to Meet DOFA Date Before appointing a representative, make sure to verify their date of first appointment (DOFA). This is important as the amount of time available for them to meet the ‘fit & proper’ criteria depends on this date. Dofa Date (The Date of First Appointment) marks when you’re officially appointed to act as a representative of an authorised Financial Services Provider (FSP). This also means you will be…

What is your financial health as a financial planner?

ByAndile Hours

Most financial advisors are financially distressed if not because they don’t have a secure income, especially during such a tough economic cycle like this where consumers are vulnerable and more likely to cancel insurance products trying to release some cash flow to protect assets and keep children in school. According to a study by the Financial Planning Association, 63% of investors experience high or moderate stress but get this, 71% of advisors admit to being…