Consumers

About Financial Planning

At the FPI, we take the responsibility to protect South African financial services consumers very seriously – it is our primary objective as the professional body in the sector. Unfortunately, mismanagement, misrepresentation and mis-selling by financial intermediaries and companies continues in the financial services sector despite the good work being done by the Financial Services Board (FSB) and other industry role players. These unethical practises continue to undermine consumer confidence in the sector as well as putting their financial futures at risk. In this section we provide you with more information about what financial planning is and the process, benefits and doing your own financial planning as well as selecting a Financial Planner. Read more...

Find a Financial Planner

FPI has three levels of professional members, depending on their qualifications, who are able to assist you with developing a financial plan. A professional financial planner is a trusted advisor who works with you to review all of your options so that you can make informed decisions about your financial situation at every stage in life. To truly protect your financial status, seek the advice of an FPI financial planner who will put your interests first. Click here to find one of our accredited practising professional financial planners in your area.

Your Rights and Recourse
Working with a financial planner can be an extremely rewarding and valuable experience for you and your family. If you’ve decided to work with a financial planner, it’s important to understand your rights in this professional relationship. This section describes the kind of treatment you deserve from your financial planner and helps you recognise when they are putting your interests and needs first. You can take an active role in shaping your financial future when you know your rights and what to expect from your financial planner. Read more...

Reporting Misconduct

We are devoting this section of our website as a first line of defence for consumers who may be vulnerable to the minority of financial advisors and companies who do not practice according to the highest ethical standards. It is written in dedication to those who have been hurt by, or victims of, financial fraud, mismanagement or mis-selling in the sector. In this section, we alert consumers to some of the common behaviours that warn of fraudulent or unethical practices on the part of a financial advisor.

We describe these “red flags” and their potential consequences, lists the things that consumers should do to protect themselves and provides information on how to file an official complaint if unethical or incompetent practices are suspected. We encourage consumers to use this guide as a tool to protect yourself and your loved ones. Click here to report misconduct or to lodge a complaint about one of our members.

Consumer Initiatives
The FPI in association with other financial institutes, runs savings and financial literacy campaigns to educate consumers about financial planning. Read more...

Research and Statistics
There is very limited research and statistics available in South Africa regarding the number of consumers who actively partcipate in financial planning, who have developed a long term financial plan through the assistance of a professional financial planner or who use the services of a financial planner. Read more...