Terms of Service

1. SWIP and/or the various product suppliers will furnish the investor/ policyholder with an electronic client portal to view investment holdings and transactions online.
2. SWIP or the investment managers appointed by SWIP to whom the investor has issues a discretionary mandate, may vote on behalf of the investor in respect of a ballot conducted by collective investment schemes, companies and any other investment vehicles in so far as the ballot relates to the investments managed by SWIP or the appointed investment manager.
3. Physical offshore exposure may be through locally listed instruments that track offshore assets or physical offshore assets and is at the discretion of SWIP. We continuously review and update our investment process and methodology and available investment universe as well as update data. As such quotations and portfolios may vary over time.
4. SWIP will obtain and transmit to an investor/ policyholder any information, which a relevant product supplier must disclose in terms of any law, unless the investor/ policyholder in writing specifically requested SWIP not to provide such information.
5. All Instructions will be processed based on the information contained on the SWIP systems. The onus is on the investor/ policyholder to inform SWIP of any changes to any of the information recorded on the SWIP systems.

1. The calculations and performance charts have been prepared as follows:
   1. It is assumed that contributions and withdrawals are increased annually by inflation.
   2. All income from investments and lump sum withdrawals at retirement are assumed to be re-invested in the portfolio.
   3. Capital gains, dividends and interest income are not taxed within a retirement annuity fund, a tax-free savings account or a living annuity portfolio.
   4. Capital gains, dividends and interest income within an ETF portfolio are assumed to be taxed using a marginal tax rate of 30%. The actual tax paid by an investor will depend on their individual circumstances and will be different from what is assumed in the projections.
   5. It is assumed that at retirement, all investments not already in a retirement annuity fund will be transferred to a retirement annuity fund shorty before retirement, and be used to purchase a living annuity.
   6. For projection purposes, withdrawals from a living annuity are not limited to the regulatory maximum of 17.5% of the portfolio value, instead withdrawals are assumed to continue at the selected level until the portfolio value reaches zero. This is done in order to give a clear visual representation of when available income from the living annuity is no longer expected to meet the income requirements of the policyholder. In reality the withdrawals will be limited to the statutory maximum percentage of the portfolio value.
   7. Withdrawals from a living annuity may taxable in the hands of the policyholder. No allowance is made for this in the projections.
   8. For Tax-free savings accounts, projections limit contributions to the annual maximum of R33 000 per year (equivalent to R2 750 per month) and the lifetime maximum of R500 000, as required by law. The contributions are assumed to increase in line with inflation until these maximums are reached.
   9. All SWIP fees have been allowed for.
   10. An average Total Expense Ratio of 0.25% is assumed for the ETFs used to construct the portfolios.
2. Further disclosures:
   1. The actual proportions of asset classes and individual funds within the portfolio will change over time as individual funds perform differently. The portfolio will be rebalanced periodically but the actual allocations will never be precisely the same as the targeted allocations.
   2. Past returns are no guarantee of future returns. All projected values are based on a number of assumptions about the future. Actual experience will depend on market conditions.
   3. The projections are based on the given investment amounts. If actual investment amounts are different, the projections will be different.
   4. Our risk chart and estimates of potential return range, are based on historic data and use confidence intervals. Actual volatility or range of returns will depend on market conditions.
   5. SWIP does not guarantee performance.
   6. Life expectancy is set to the 75th percentile of standard annuitant mortality tables. This translates into a one in four chance that the policy holder will live longer than the stated estimate.
   7. The South African Annuitant Standard Mortality Tables 1996–2000 (SAIML98 and SAIFL98), produced by the Continuous Statistical Investigations Committee of the Actuarial Society of South Africa are used.

1. The policies issued are underwritten by Cadiz Life Limited (Reg no. 2005/006996/06) (Cadiz). Sasfin Wealth Investment Platform (Pty) Ltd (Reg no. 2014/083496/07) (SWIP) binds Cadiz to the policy in terms of a Binder Agreement entered into between Cadiz and SWIP, authorising SWIP to issue and administer policies on behalf of Cadiz.
2. The assets supporting the liabilities under the Policies shall be owned by and shall vest in Cadiz and shall be held in the name of Cadiz or its appointed nominee in its capacity as duly appointed agent and custodian on behalf of Cadiz.
3. Retirement fund savings assets must be invested to comply with Applicable Law. The overall portfolio must comply with the requirements of regulation 28 of the Pension Funds Act 24 of 1956 (“Reg 28”), as amended from time to time. Any investment only becomes active once funds or assets have been received from the policyholder and proof of deposit of such assets have been supplied to SWIP.
4. A copy of the rules of the retirement funds are available to policyholders on request.
5. Retirement annuity disclosures
   1. The benefits after retirement will be taxable.
   2. A maximum of one-third of a retirement annuity can be taken in cash at retirement and the balance needs to be used to purchase an annuity.
   3. The cash lump sum is tax free within certain limits and the amounts in excess of these limits are taxable.
   4. The annuity is fully taxable as income
6. Pension fund disclosures
   1. The benefits after retirement will be taxable
   2. A single cash withdrawal of the full value of the investment can be made over the lifetime of the investment before retirement
   3. A maximum of one-third of a pension fund can be taken in cash at retirement and the balance needs to be used to purchase an annuity
   4. Any cash withdrawal is tax free within certain limits and the amounts in excess of these limits, on a cumulative basis, are taxable
   5. Any value remaining after a single lifetime withdrawal and or one-third withdrawal at retirement must be used to purchase an annuity
   6. The annuity is fully taxable as income
7. Provident fund disclosures
   1. The benefits after retirement will be taxable
   2. A single cash withdrawal of the full value of the investment can be made over the lifetime of the investment before retirement
   3. A withdrawal of the full value of a provident fund can be taken in cash at retirement and the balance needs to be used to purchase an annuity
   4. Any cash withdrawal is tax free within certain limits and the amounts in excess of these limits, on a cumulative basis, are taxable
   5. Any value remaining after a single lifetime withdrawal and/ or one-third withdrawal at retirement must be used to purchase an annuity
   6. The annuity is fully taxable as income
8. Living annuity disclosures
   1. A living annuity can be purchased with the proceeds of a retirement fund
   2. Income of between 2.5% and 17.5% of the value of the investment, must be drawn as income annually
   3. Income for the annuity is taxable in the hands of the policyholder
9. SWIP or the investment managers appointed by Cadiz and/or SWIP may vote on behalf of Cadiz in respect of a ballot conducted by collective investment schemes, companies and any other investment vehicles in so far as the ballot relates to the investments managed by SWIP or the appointed investment manager, on behalf of the Policyholder.

1. A non-managed solution or self-managed portfolio is managed in accordance with specific investment instructions from the policyholder relating to the investment makeup of the portfolio.
   1. Specific investment instructions as per 1 above will be taken by SWIP and/ or its appointed investment platform:
      1. from the investor/ policyholder’s appointed financial advisor; or
      2. directly from the investor/ policyholder
      3. telephonically; or
      4. via an electronic trading system that may, at the sole discretion of SWIP, be made available to the investor/ policyholder.
2. The investor / policyholder shall promptly check that all instructions in the execution of his / her instructions have been executed correctly via the SWIP online client portal.
3. The investor /policyholder indemnifies and holds harmless Cadiz Life, the Retirement Funds, SWIP and any appointed investment managers or platforms against any and all loss and damages that any of them may suffer as a result of the investor/ policyholder’s erroneous instructions, instructions not transmitted in the prescribed manner or specific investment instruction execution errors that have or should have been revealed by such comparison outlined in 2 above, unless such error is reported to SWIP or the investment manager, appointed investment advisor or investment platform immediately after the execution of any instruction.
4. The investor/ policyholder agrees that he/she shall on an ongoing basis be responsible for the performance of the non-managed solution or self-managed portfolio and as such undertakes in favour of Cadiz Life, SWIP and any appointed Investment Manager that the investor/ policyholder:
   1. is a knowledgeable investor;
   2. will at all times remain responsible for his/her own investment research and advise;
   3. will keep proper record of all investment decisions made in relation to the Portfolio;
   4. the investor/ policyholder should consider getting independent financial advice;
   5. the Investor /policyholder indemnifies and holds harmless Cadiz Life, the Retirement Funds, SWIP and any appointed Investment Manager against any and all loss and damages that any of them may suffer as a result of the investor/ policyholder’s management of the non-managed solution or self-managed portfolio.

1. SWIP offers other FAIS registered Financial Services Providers (FSP’s) the ability to utilise the SWIP range of products and services, in order to wrap their own in-house financial products and services on behalf of their clients.
2. SWIP merely provides access to the SWIP range of products and services to the FSP and does not establish a direct relationship with the investor / policyholder.
3. SWIP has established business relationships with various other FSP’s to provide a full range of products and services, including (but not limited to) retirement annuity funds, annuities, custody, transactional capability, and forex transacting.

1. SWIP and the Investment Managers appointed by Cadiz and/or SWIP, use their discretion to invest on the investor/ policyholder’s behalf with great care and diligence. However, the investor/ policyholder acknowledges that there is a risk associated with investing in the financial products involved. The value of the investments and income may rise, as well as fall, and there is a risk that the investor/ policyholder may suffer financial losses.
2. Refer to the SWIP online tools or the fact sheets provided by SWIP, the listed instrument product provider or the appointed Investment Manager to make an informed decision.
3. Consider getting financial advice from an independent financial advisor when making any investment decisions.
4. Investment returns or Policy benefits should be measured against the purchasing power of money when benefits are paid, and the real return is the rate of return in excess of inflation.
5. In the event that the investor/ policyholder manages his/her own investments, the composition of the portfolio must at all times comply with any laws or regulation governing the particular investment vehicle, and the investor/ policyholder acknowledges that there is a risk associated with investing in the financial products involved. The value of the investments and income may rise, as well as fall, and there is a risk that the investor/ policyholder may suffer financial losses.
6. The investor/ policyholder hereby irrevocably indemnifies SWIP, Cadiz and any of the appointed investment managers, and holds them harmless against all and any claims of whatsoever nature that might be made against it howsoever arising from its management of the investments including but not limited to any loss or damage which might be suffered by the investor/ policyholder in consequence of any depreciation in the value of the investments from whatsoever cause arising.
7. When investing in foreign investment products it is important to be aware of the following risks:
   1. Attaining access to investment performance information may be more difficult than South African based investments.
   2. Investments are exposed to different tax regimes that may change without warning and it may influence investment returns.
   3. Exchange control measures may change in the country of investment and it may influence accessibility to the invested capital.
   4. The Rand exchange rate can strengthen or weaken against the exchange rate of the foreign currency(ies) in which the investor/ policyholder’s money is invested. It may result in changes in the value of offshore investments and it may create a loss of capital or reduced returns when the money is returned to South Africa in Rand.

1. Funds will be transferred to the relevant investment platform or Investment manager once it reflects in the correct Retirement Fund’s or Service provider’s bank account and proof of deposit from the investor/ policyholder’s bank has been received.
2. Allocation of pooled deposits made on behalf of multiple investors/ policyholders, must be received by SWIP on or before the date of the deposit.
3. SWIP will not be legally responsible for any damages suffered due to payments made to an incorrect bank account, proof of payment not sent or delayed or allocations of payments.
4. Cheque deposits will only be processed once the cheque has cleared
5. No Cash payments will be accepted.
6. All SWIP products invest directly in instruments listed on various local and global exchanges. Prices of listed instruments trade in a live environment and day to day as well as intraday prices can vary materially. While every effort is made not to delay the investment of funds in financial markets, the timing decision of investing funds, is at the sole discretion of the appointed investment manager.
7. Offshore exposure will be achieved via locally listed instruments providing exposure to offshore markets or via transferring funds physically offshore and investing in offshore instruments directly. While every effort is made not to delay the investment of funds in financial markets, the decision of how to gain this offshore exposure, the timing of transferring funds and/ or investing funds, is at the sole discretion of the appointed investment manager.
8. The investor/ policyholder indemnifies and holds SWIP and/or any of the appointed investment managers harmless against any loss or damage which the investor/ policyholder may suffer as a result of any market movement from the time that funds are received until such time as the funds are fully invested, including any delays related to the process of moving funds physically offshore.

1. While effort is made not to delay the liquidation of an investment and to pay out the proceeds, market liquidity and other market forces can delay the process.
2. The time taken to settle the sale of a listed instrument varies depending on the exchange. Any financial instruments sold must first settle before the proceeds can be paid out to the investor/ policyholder.
3. Withdrawals from retirement funds or living annuities are governed by various laws and regulations that must be complied to.
4. Withdrawals made from retirement funds require tax directive applications to be approved by SARS before any funds may be paid out
5. The investor/ policyholder indemnifies and holds SWIP harmless against any loss or damage which the investor/ policyholder may suffer as a result of any timing issues in the liquidation of investments or pay-out of funds.

1. In the event that a mandate/ application form or any other instruction or form is faxed to SWIP, the responsibility of ensuring that the instruction has been received and actioned by SWIP will lie with the instructor investor/ policyholder or financial advisor). A fax confirmation in the hands of the sender will not be regarded as proof that SWIP received a specific document. SWIP does not accept any liability and responsibility for having acted on a faxed document that on the face of it appears valid and the investor/ policyholder consequently bears the risk of fraud and/or forgery.
2. SWIP will only process instructions that are submitted on SWIP standard instruction forms.
3. SWIP reserves the right to withhold processing of any unclear, incomplete or unambiguous requests forwarded by the investor/ policyholder
4. SWIP will not be held liable for any damages or losses of whatever nature arising out of SWIP’s failure to action an instruction due to occurrences beyond the control of SWIP, nor will SWIP be liable for any loss incurred to incorrect information being supplied by the investor/ policyholder or his/her financial advisor
5. The verification documentation requested in this application form must accompany the mandate/ application form and must be clear and legible. SWIP will not be obliged to process a mandate/ application form until it has received the verification and SWIP will not be liable for any loss or damages of whatsoever nature arising from the inability of SWIP to process a mandate/ application form due to the fact the requirements of the Financial Intelligence Centre Act, 38 of 2001 (FICA) have not been complied with.
6. The investor/ policyholder indemnifies and holds SWIP harmless against any loss or damage which the investor/ policyholder may suffer as a result of any commission or omission by SWIP, which is a result of an obligation imposed on SWIP by FICA

1. SWIP does not charge any upfront fees or early redemption penalties.
2. SWIP will fully disclose any soft commissions, participation in spreads, rebates, fee reductions, or any discounts from FSPs, life companies, management companies, authorised dealers and/ or members of an Exchange for placing funds with them, in cases where such benefit is not reverted back to the client.
3. If any change in law or regulation causes an increase in costs, resulting in increased fees or requires additional fees, such increase in fees will be disclosed to the Client
4. Certain platform, underwriting, administrative, custody, brokerage or other fees charged for separately by third parties used by SWIP in the provision of its products and services, may be subject to change from time to time. Any material changes will be communicated to the Client.
5. Any external costs, including but not limited to, bank charges and tax directive costs, incurred in the processing of any instructions will be passed on to the investor/ policyholder.
6. SWIP earns a variety of revenue streams for facilitating and/ or making its products and services available in a non-managed or self-managed format and in the provision of prime services to 3rd party FSP’s. These include but may not be limited to brokerage on trades executed and commission on facilitating forex transactions.
7. Of the total administration fee paid for retirement wrappers, Guardrisk Life receives up to 0.1% underwriting fee.

Introduction

This Privacy Policy governs the manner in which Sasfin Wealth Investment Platform (Pty) Ltd (SWIP) treats your personal information. SWIP is fully committed to safeguarding your personal information and keeping it confidential. This privacy policy aims to provide a summary of the type of information we collect and how the information is used.

Information we collect

Personal information is collected during our online financial needs analysis and account opening process. SWIP may collect additional information over time to better understand our client’s personal needs. SWIP collects traffic pattern information in an aggregate form relating to the visitors to our website. Additional data may be requested from time to time through surveys or other mechanisms.

Use of the information collected

The information we collect is used to effectively and efficiently deliver the products and services for which our clients have signed up. The delivery of such products and services will be within the legal and regulatory framework we operate in. Information is further used to continuously improve the products and services made available by SWIP to prospective as well as existing clients. Contact details are used to keep clients informed via newsletters and other mechanisms. Clients may unsubscribe from any such content.

Disclosure of your information

SWIP will disclose your personal information if required to do so by law or a court order. Where applicable, SWIP may provide information to 3rd parties in the delivery of its products and services. These are entities SWIP has agreements with to provide the platforms necessary in providing our products and services. These include but are not limited to, custody and trading providers, required as a platform on which to manage client assets. Life Insurance companies required for wrapping retirement products in policies. SWIP does not sell any personal information to third parties.

Use of cookies

You agree that we shall be entitled to send "cookies" from this website to your computer. Cookies are information sent from this website to your hard drive, where it is saved and contains information to personalise your experience on this website. In this way, the next time you use this website we will know who you are and that you have visited this website before.

Accuracy of information

SWIP endeavours to ensure that the personal information we collect and store about you is accurate and up to date. If the data we hold about you proves inaccurate or outdated, we will correct it upon your request SWIP may make changes to this privacy policy at any time and will post an updated version of this policy on this website

1. Sasfin Wealth Investment Platform (Pty) Ltd is an authorized financial services provider as defined in the Financial Advisory and Intermediary Services Act 2002 (FAIS) and we undertake to abide by the requirements as set out in this Act.
2. SWIP is authorised to provide a range of advice, discretionary and intermediary services, including: long term insurance; retail pension benefits/ retirement annuities; securities & instruments: shares/ money market instruments/ debentures & securitised debt/ warrants, certificates and other instruments acknowledging, conferring or creating rights to subscribe to, acquire, dispose of, or convert securities & instruments/ bonds/ derivative instruments excluding bonds; collective investment schemes; long term deposits; short term deposits.
3. We will maintain suitable and sufficient professional indemnity or fidelity insurance at all times.
4. We have no conflicts of interest and will disclose all necessary information in the event that a conflict arises. Our internal conflict of interest management policy is available on our website or upon request.
5. We also commit ourselves to swift, effective and fair resolution of your complaints. Address your complaints to swipcomplaints@sasfin.com. We will acknowledge all complaints in writing. There is a complaints policy in place and available for inspection on our website or upon request.
6. Should the complaint still not be resolved to your satisfaction, this can within a period of six months be submitted in writing to the FAIS Ombud for Financial Service Providers.
7. SWIP does not hold more than 10% of any relevant product supplier’s shares, or have any equivalent substantial financial interest in the product suppliers we use.
8. SWIP does not receive more than 30% of its remuneration from one particular product supplier.
9. FAIS Ombud details: Address: Sussex Office Park, Ground Floor, Block B, 473 Lynnwood Road Cnr Lynnwood Road & Sussex Ave, Lynnwood, 0081. Telephone: +27 12 762 5000 / +27 12 470 9080. Facsimile: +27 86 764 1422 / +27 12 348 3447. E-mail Address: info@faisombud.co.za. Website: www.faisombud.co.za
10. Legal and statutory information: Sasfin Wealth Investment Platform (Pty) Ltd. Reg No: 2014/083496/07. 140 West Street, Sandown, Sandton, 2196. Telephone: +27 87 365 4888. FSP license number: 45334
11. Compliance officer: Moonstone (Pty) Ltd, Sharen Gerald. Email: SGerald@moonstoneinfo.com . Address: 25 Quantum Street, Technopark, Stellenbosch, 7600. Postal address: P O Box 12662, Die Boord, Stellenbosch, 7613. Telephone: +27 21 883 8000. Website: www.moonstone.co.za
12. Financial Services Board (FSB) toll-free helpline: 0800 110 443

1. Please note that in terms of the Financial Intelligence Centre Act, 38 of 2001 (FICA), SWIP is an accountable institution under law and as such obliged to validate the information of any new client by requesting the relevant documentation.
2. SWIP is further obliged to report suspicious and unusual transactions that may facilitate money laundering to the authorities.

Click here to view the conflict of interest document

Click here to view the complaints policy document

Sasfin Wealth Investment Platform (Pty) Ltd is an Authorised Financial Services Provider, FSP number 45334, in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 and is regulated by the Financial Services Board. The information contained in this communication is confidential and may be legally privileged. It is intended solely for the use of the individual or entity to whom it is addressed and others authorised to receive it. If you are not the intended recipient you are hereby notified that any disclosure, copying, distribution or taking action in reliance of the contents of this information is strictly prohibited and may be unlawful. Sasfin Wealth Investment Platform has made every reasonable effort to ensure the information provided is accurate; however, SWIP, including its affiliates, shareholders, agents, consultants and employees, neither represents nor warrants as to the accuracy or completeness of the information. Sasfin Wealth Investment Platform accepts no liability whatsoever for any loss caused by negligence or otherwise, including without limitation any direct, indirect, punitive or consequential loss, arising from information made available in this communication and actions, transactions or omissions resulting there from and you hereby indemnify Sasfin Wealth Investment Platform accordingly. Views and opinions are those of the sender unless clearly stated as being that of Sasfin Wealth Investment Platform (Pty) Ltd. Sasfin Wealth Investment Platform (Pty) Ltd is neither liable for the proper, complete transmission of the information contained in this communication, nor any delay in its receipt or that mail is virus-free. Sasfin Wealth Investment Platform (Pty) Ltd is not liable whatsoever for loss or damage resulting from the opening of this message and / or attachments and / or use.