The Financial Advisory and Intermediary Services (FAIS) Act, is legislation that impacts the financial services industry and aims to regulate the giving of advice and rendering of intermediary services to clients. The FAIS Act impacts most financial institutions, financial service providers (FSPs) (such as Sanlam) and their representatives.
The objectives of the FAIS Act are to:
Sanlam aims to be the most professional FSP in South Africa and takes responsibility for the financial advisory and intermediary services rendered to its clients by its advisers.
It is Sanlam's mission to be the leader in wealth creation by being a client-centric organisation. The legal framework now created by the FAIS Act supports our mission to provide clients with trusted and appropriate advice and quality solutions with integrity, transparency and a culture of discipline.
The FAIS Act requires Sanlam as a licensed FSP to: