FAIS, the Financial Advisory and Intermediary Services Act, is legislation that impacts on the financial services industry and aims to regulate the giving of advice and rendering of intermediary services to clients, as well as certain other issues. The Act impacts on most financial institutions, financial service providers (such as Sanlam) and their representatives.
The objectives of FAIS are to:
Sanlam and FAIS Sanlam aims to be the most professional financial service provider 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 FAIS supports our mission to provide clients with trusted and appropriate advice and quality solutions with integrity, transparency and a culture of discipline.
FAIS requires of Sanlam as a licensed financial service provider (FSP) to: