By Penelope Gregoriou, technical investment specialist at Alexforbes  Millions of South Africans rely on the money saved in their employers’ retirement fund to earn an income in retirement. For many people, this is their only formal savings for retirement. Unfortunately, too often, this money is still not enough to sustain them in retirement. Being a young professional has its fair share of demands and complexities, with real day-to-day demands such as housing, transportation and health needs all perpetually competing for a share of your wallet. Retirement savings, quite frankly, is a low priority for many. But research shows that it
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Operating income up 7% to R3.2 billion enabled by substantial success in attracting new clients and strong investment performance Headline earnings per share from continuing operations up 19% y-o-y to 37.2 cents per share Final dividend of 20 cents per share (2021: 9 cents per share), increasing the annual dividend by 45% y-o-y to 32 cents per share Refreshed vision, brand and corporate activity provides framework to become the most impactful provider of financial advice serving both institutional clients and individual customers Alexforbes today released a pleasing set of annual results which reflect the company’s disciplined strategic execution, a transformed
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By Rita Cool, certified financial planner at Alexforbes If your loved one was a member of a retirement fund at the time of their death, you could be entitled to receive the value of the investment paid out. During what is a very emotionally-charged time, the paperwork which nominees are required to complete can seem onerous. There are several benefits that might have been left to you with various choices to be made. Retirement funds  If your loved one was a member of a retirement fund – a pension, provident or preservation fund, or a retirement annuity – you could
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South Africa’s largest investments multi-manager has launched a transformation policy to make an impactful contribution to the sustainability and relevance of the asset management industry in South Africa. The policy has set transformative criteria for supporting and selecting asset managers and stockbrokers with an emphasis on gender diversity to ensure more black females are included in critical strategic and investment decision roles. Investments CEO Ann Leepile says that progress in transformation has been evidenced by the Alexforbes Manager Watch report given that 7 of the 10 largest managers are now rated as Level 1 B-BBEE providers. However, more needs to
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Over the past few months of the war, ESG practices have experienced strong critique. The prevailing theory being pursued by market participants is that funds or practices with the label of ESG should not have had exposure to Russian assets. Premal Ranchod, head of ESG research at Alexforbes, thinks that there is considerably more to the story than the calling out. The act of war is unsettling and there are no winners when the impact brings an incalculable human cost with it. Investments and ESG, however, have factors in addition to the humanitarian crisis worth contemplating upon. Using the lens
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Alexander Forbes, Southern Africa’s leading employee benefits firm has unveiled a new vision, purpose and customer value proposition supported by a refreshed brand to form a greater connection to the people that the organisation serves. The company announced today that it has rebranded from Alexander Forbes to Alexforbes with a new tagline reflecting its purpose of pioneering INSIGHT to deliver ADVICE and solutions that IMPACT people’s lives. According to Dawie de Villiers, CEO of Alexforbes, “This shift aligns with its vision of becoming the most impactful provider of financial advice serving both individual customers and institutional clients.” Expanding on the
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Prudential Financial and LeapFrog Investments are backing one of Africa’s leading independent providers of financial advice, retirement, investment, and wealth management services, further deepening their presence and potential to impact people’s lives across the continent. Prudential Financial, Inc. (Prudential Financial) (NYSE: PRU), in partnership with LeapFrog Investments Group, Ltd. (LeapFrog Investments), announced its intention to acquire a strategic minority interest in Alexander Forbes Group Holdings Limited (JSE: AFH), a leading provider of financial advice, retirement, investment, and holistic wealth management services in South Africa. The transaction builds upon Prudential Financial’s partnership with LeapFrog Investments to access high-growth financial services markets
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By Vickie Lange, Head: Research, Best Practice & Academy, Alexander Forbes National Treasury’s proposal to give limited access to retirement fund savings before retirement via the two-pot system has generated much interest across retirement fund members. The impact of this system will be felt in the long term as there is still much to be clarified before the system is implemented. In the recent budget speech Finance Minister Enoch Godongwana confirmed that draft legislation would be published later this year setting out amendments to legislation that would enable a two-pot system allowing for short-term access to retirement savings.  It is
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Jenny Gordon, Head: Technical Advice: Investments, Product and Enablement at Alexander Forbes cautions that fund members need to ensure that they have nominated beneficiaries on their unapproved group life and funeral policies. If this does not happen, the benefit will be paid to the deceased estate, incurring unnecessary delays and costs in administering an estate, because the current Insurance Act of 2017 does not permit the employer to exercise a discretion to determine a beneficiary, as was the case under previous legislation. Employees should be encouraged by their HR departments to complete beneficiary nomination forms on their unapproved group life and
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The Alexander Forbes Investments business is the primary vehicle of the Alexander Forbes Group to grow and protect the wealth of its clients through its market-leading multi-management capability. The investments business turns 25 years old this year and has consistently delivered exceptional performance to clients over this period due to its independence from asset managers, the rigor of its investment process and the expertise of its investment professionals. Alexander Forbes Investments currently is entrusted with more than R420 billion of clients’ savings, affirming its leadership position in the South African investment environment. In line with its strategy of strengthening its
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