A litmus test for the industry?

the financial planning industry has been on a drive to professionalise over the best part of the past two decades.

One catalyst for this has been the introduction of the Financial Advisory and Intermediary Services (FAIS) Act in 2002. This act regulates the rendering of financial advisory and intermediary services to clients. Its main objectives are to protect the interests of consumers and to professionalise the financial services industry.

There is still a dearth of certified financial planners in South Africa, fewer