Ahead of RDR implementation in South Africa, IFAs would do well to consider whether to stay independent and seek other sources of revenue, or pool together to minimise governance expenses, explains Derek Smorenburg, the man behind the South African Independent Financial Advisors Association (SAIFAA). With a career in financial services dating back to the late ’60s, Smorenburg is no stranger to the gusts of change sweeping through the industry. And with South Africa’s Retail Distribution Review just around the corner, he is working hard to keep independent financial advice alive. “With change comes opportunity,” says Smorenburg. “Change brings out the best in people. The RDR in South Africa is an opportunity for advisers to remodel themselves to their clients.”
[Source: International Adviser - October 6, 2015 - by Katherine Denham]
