Disclaimers

1.  Legal Website Disclaimers

2.  Privacy Policy

3.  Complaints Resolution Policy

4.  Conflict of Interest Policy (COI)

5.  Treating Clients Fairly Policy (TCF)

6.  The Protection of Access to Information Act (PAIA)

7.  Protection of Personal Information Act (POPI)

download all disclaimers

1.  LEGAL WEBSITE DISCLAIMERS

Thank you for your interest in our website.  Before using this website, please read Disclaimers and make sure you understand the terms and conditions of the website.

The Financial Advisory and Intermediary Services Act 2002

Capvest Wealth Management (Pty) Ltd (Capvest) is an authorised financial services provider in terms of the Financial Advisory and Intermediary Services Act of 2002. The Wealth Managers that are employed by Capvest are authorised to provide financial advice. The technical assistants and administrators are not authorised to provide financial advice and does not provide financial advice. All information contained in an email from technical assistants and administrators, including attachments, should not be construed, or relied upon, as advice. If you require financial and/or investment advice, please ensure that you consult with one of our Wealth Managers.

Ownership

The website is owned and operated by Philip Botha.

Office Addresses: 25 Culross Road, Bryanston, Johannesburg / 225 Spoonbillway, Xanadu, Hartbeespoort

Phone:  012-2593856 / 082 564 2522

Email:  philip@capvest.co.za

Acceptance

By using our website, you agree and accept our Terms and Conditions.  The use of this website or any other website which can be accessed from this website is entirely at your own risk and you hereby indemnify us from and against any losses, liability, damages, costs etc. arising out of or in connection with the use of the website or other links on the website.

Copyright

The contents of the website are protected by copyright and other intellectual property laws.  Unauthorized copying, circulation or broadcasting is prohibited.   All rights not expressly granted are reserved.

Information on Website – Disclaimer

  • The website is controlled by Capvest which is a company established in the Republic of South Africa. The website can be accessed from various countries around the world but is designed specifically for persons located in the Republic of South Africa.  No representation or warranty is made that the materials contained in the site are appropriate to and for any other jurisdiction and available in any other jurisdiction.  Those who access this site do so on their own initiative and are therefore responsible for compliance with applicable local laws and regulations.
  • The information on the website may be used for information and private purposes – not for commercial purposes. The information provided on this website is intended to provide you, the user, with objective information about Capvest’s products and services and is not intended to constitute advice, guidance or proposal as regards the suitability of any product in respect of any need you may have. Calculations made/obtained by means of the tools made available on this website are for illustrative purposes only.
  • Further to this, the information, research and content does not represent advise, services, a solution, recommendation, endorsement or offer and therefore you should consult your financial or other advisor should you require advise or financial services.
  • Capvest will continue to take reasonable care to ensure that all information provided on this website is true and correct (in so far as this is under its control). The information may contain some inaccuracies or might cater for different interpretations and views. We cannot guarantee that the information is error-free, reliable, or complete.  There is no warranty of any kind, expressed or implied, regarding the information or any aspect of this service.  Any warranty implied by law is hereby excluded except to the extent such exclusion would be unlawful.
  • No variation of the information on the website is allowed and we cannot be held liable in such instances.
  • We cannot be held liable for any losses due to cybercrime or viruses in using the website.
  • The information on the website should not be interpreted as an offer.
  • In addition Capvest is not responsible for and disclaims all liability for any loss, liability, damage (whether direct, indirect or consequential) or expense of any nature whatsoever which may be suffered as a result of, or which may be attributable, directly or indirectly, to the use of or reliance upon any information, links, opinions or services provided through this website. The user hereby indemnifies Capvest and or its service providers against any claim or liability arising out of the user’s use of this website. The user waives any claim which it may have or acquire against Capvest arising out of the user’s use of this website.
  • The Promotion of Access to Information Act, no. 2 of 2000 (the “Act”) gives persons the right of access to information that is required for the exercise or protection of any rights. In order for access to information to be granted, certain requirements have to be met.  The Act also required private bodies such as Capvest to compile a manual, designed to assist people who want to exercise their right to access to information.  This manual, as well as the prescribed request form and fees payable (should you wish to exercise your right of access to information), can be obtained by e-mailing us at philip@capvest.co.za

Electronic Communications

Consent

By communicating with us through electronic means, you consent to receiving communications electronically and agree that all agreements, notices, disclosures and all other communications transmitted by electronic means, satisfy any legal requirement, including but not limited to the requirement that such communication should be in writing. Unless otherwise agreed, we are only deemed to have received an email once we have confirmed receipt thereof; and we are only deemed to have sent an email once reflected as ‘sent’ on our email server.

Confidentiality warning

The contents of emails and any accompanying documentation are confidential and may be subject to legal privilege and client confidentiality. Any use thereof, in whatever form, by anyone other than the addressee is strictly prohibited. If you are not the intended recipient of an email or facsimile, kindly notify the sender by return email, facsimile or telephone, as well as deleting it from your system. You may not copy an email or disclose its contents to any other person, without our express written consent.

Personal Use Employees

Capvest Wealth Management (Pty) Ltd is not able to distinguish between business and personal emails. Users who make use of Capvest’s email system do so at their own risk and accept responsibility for any actions or consequences that arise from such personal use. Any views or opinions expressed in such messages are those of the individual sender and do not create obligations on or represent any commitment by Capvest, except where the sender specifically states it to be the views or opinions of Capvest. If this message contains offensive, derogatory or defamatory statements or materials, it means the message has been sent outside the sender’s scope of employment with Capvest and only the sender can be held liable in his/her personal capacity.

Interception and Monitoring

Users who make use of Capvest’s email system do so at their own risk and accept responsibility for any actions and consequences that arise from use. In general terms, Capvest does not engage in blanket monitoring of communications. Capvest does however reserve the right at any time and without notice to intercept and monitor communications and stored files sent or received over or stored on Capvest’s information and communications systems, provided that such monitoring and interception is: performed by an Capvest representative properly authorised by Capvest; for a lawful purposes; and strictly in accordance with Capvest Information Policy procedures.

Links to Third Party Sites

The website has hypertext links to websites of third parties.  We do not take responsibility for the content, information, services etc. of the third parties.  Discretion should be used when accessing the third party links.  We encourage users to be aware when they leave our site and to read the privacy statements for each and every website that collects personally identifiable information.  The privacy statement applies solely to information collected by this website.

Governing Law

The Laws of the Republic of South Africa applies.

2.  PRIVACY POLICY

Capvest Wealth Management (Pty) Ltd (Capvest) is committed to maintaining the privacy and security of its client’s and associates personal and private information.  Our privacy policy outlines our practices and commitment to the customer and is confirmed below.

In general, when using our website, you will not have to divulge personal information by yourself.  However, while using the website, you may provide personal information about yourself or Capvest may collect some of your personal information.

Further to this, Third Parties might request some of your personal information from Capvest, which we may refuse.  The Promotion of Access to Information Act, 2000 (“PAIA”) regulates such requests.  Please refer to our PAIA Manual for more information about this.

The Use and Disclosure of Your Personal Information

This is regulated by the Protection of Personal Information Act (“PPI”).  We collect and process your personal information mainly to provide you with access to our services, to help us improve our offerings to you and for certain other purposes explained below.

The type of information we collect will depend on the purpose for which it is collected and used. We will only collect information that we need for that purpose.

We collect information directly from you where you provide us with your personal details, for example when we do you planning, prepare a proposal, when you submit enquiries to us or contact us. Where possible, we will inform you what information you are required to provide to us and what information is optional.

With your consent, we may also supplement the information that you provide to us with information we receive from other companies (e.g. Astute or other investment houses) to offer you a more consistent and personalized experience in your interactions with Capvest.

Website usage information is collected using “cookies” which allows us to collect standard internet visitor usage information.

We will use your personal information only for the purposes for which it was collected or agreed with you, for example:

  • To provide our services to you, to carry out the transaction you requested and to maintain our relationship;
  • For underwriting purposes;
  • To assess and process claims;
  • To confirm and verify your identity or to verify that you are an authorised user for security purposes;
  • For the detection and prevention of fraud, crime, money laundering or other malpractice;
  • To conduct market or customer satisfaction research or for statistical analysis;
  • For audit and record keeping purposes;
  • In connection with legal proceedings. ​

We will also use your personal information to comply with legal and regulatory requirements or industry codes to which we subscribe, or which apply to us, or when it is otherwise allowed by.

Given our aim to provide you with ongoing Wealth Management Services, we would like to use your information to keep you informed about other financial products and services which may be of particular interest to you and to contact you to setup review meetings.

We may disclose your personal information to our service providers who are involved in the delivery of products or services to you. We have agreements in place to ensure that they comply with these privacy terms.

Sharing of Personal Information

We may share your personal information with, and obtain information about you from:

  • Third parties for the purposes listed above, for example credit reference and fraud prevention agencies, law enforcement agencies;
  • Other insurers to prevent fraudulent claims;
  • Other third parties from whom you have chosen to receive marketing information.
  • Where we have a duty or a right to disclose in terms of law or industry codes;
  • Where we believe it is necessary to protect our rights.

Updating of Personal Information

You have the right to ask us to update, correct or delete your personal information. You may do this by contacting us at the numbers/addresses provided below.

We will take all reasonable steps to confirm your identity before making changes to personal information we may hold about you.

We would appreciate it if you could keep your personal information accurate. Please update your information whenever your details change.

Security of Information

Capvest takes all reasonable steps to protect your personal information.

Please note that we may amend these guidelines from time to time. Please check this website periodically to inform yourself of any changes.

3.  COMPLAINTS RESOLUTION POLICY

Capvest Wealth Management (Pty) Ltd (Capvest) has a detailed internal complaint resolution procedure to assist resolving complaints.

Should you wish to pursue a complaint against a Key Individual or Representative of Capvest you should address the complaint in writing to us by emailing philip@capvest.co.za.

If you cannot settle the complaint with us, you are entitled to refer it to the Office of the FAIS Ombud, at info@faisombud.co.za or telephone number 0860 324 766.  The Ombud has been created to provide you with a redress mechanism for any inappropriate financial advice that you feel may have been given to you by a financial advisor.

Where do I submit a complaint?

25 Culross Road, Bryanston, Johannesburg, 2152.

225 Spoonbill Way, Xanadu Eco Park, Hartbeespoort, 0216

PO Box 8, Fourways, Johannesburg, 2055

Telephone:  012-2593856

Cell Phone:  082 564 2522

Email:  philip@capvest.co.za

Fax:  0866 0866 83

Information to provide to register a complaint

Name

Date of Complaint

Date of Service Received

Service Provider

Type Product

Policy or Investment Number

Person Dealing with at Capvest

Your Contact Details

Description of Complaint

Definitions

“Complaint” means an expression of dissatisfaction by a complainant, relating to a product or service provided or offered by the financial services provider, or to an agreement with the financial services provider in respect of its products or services and indicating that:

  • the financial services provider or its service provider has contravened or failed to comply with an agreement, a law, a rule, or a code of conduct which is binding on the financial services provider or to which it subscribes;
  • the financial services provider or its service provider’s maladministration or wilful or negligent action or failure to act, has caused the complainant harm, prejudice, distress or substantial inconvenience; or
  • the financial services provider or its service provider has treated the complainant unfairly and regardless of whether such an expression of dissatisfaction is submitted together with or in relation to a customer query.

“Complainant” means a person who has submitted a specific complaint to the financial services provider or its service provider and who:

  • is a customer or prospective customer of the financial services provider concerned and has
  • a direct interest in the agreement, product or service to which the complaint relates; or
  • has submitted the complaint on behalf of a person mentioned in (a), provided that a prospective provided that a prospective customer will only be regarded as a complainant to the extent that the complaint relates to the prospective customer’s dissatisfaction in relation to the application, approach, solicitation or advertising or marketing material contemplated in the definition of “prospective customer”.

“Customer” of a financial services provider means any user, former user or beneficiary of one or more of the financial products or services provided by the financial services provider, and their successors in title.

“Customer Query” means a request to the financial services provider by or on behalf of a customer or prospective customer, for information regarding the financial products, services or related processes, or to carry out a transaction or action in relation to any such product or service.

“FAIS” means the Financial Advisory and Intermediary Services Act No. 37 of 2002 which was designed to protect customers of financial services providers, regulate the selling and advice-giving activities of FSP (FSPs), ensure that the consumers are provided with adequate information about the financial product they use and about the people and institutions who sell these financial products and establish a properly regulated financial services profession.

“FAIS Ombud” – the FAIS Ombud deals with complaints submitted to the Office by a specific customer against a financial services provider.

“Financial Services Provider” means CAPVEST WEALTH MANAGEMENT (PTY) LTD with FSP No 41026 and place of business 25 CULROSS ROAD, BRYANSTON, JOHANNESBURG, 2152 / 225 SPOONBILLWAY, XANADU, HARTBEESPOORT, 0216.

“Prospective Customer” of a financial services provider means a person who has applied to or otherwise approached the financial services provider in relation to becoming a customer of the financial services provider, or a person who has been solicited by the financial services provider to become a customer or has received marketing or advertising material in relation to the financial institution’s products or services.

“Routine Complaints” is where a customer submits an expression of dissatisfaction together with a customer query or relating to a customer query and which further can be resolved internally within a period of 15 days. Routine complaints are therefore customer queries which have been escalated by the customer previously but now the customer has become dissatisfied with the process being followed to resolve the customer query.

“Serious Complaints” are complaints that contravene regulatory requirements and are likely or may already have caused a customer to suffer financial prejudice.

“Service provider” means another person with whom the financial services provider to whose products or services the complaint relates has an arrangement in relation to the marketing, distribution, administration or provision of such products or services, regardless of whether or not such other person is the agent of the financial services provider.

“Resolved” in relation to a complaint means that the complaint has been finalised in such a manner that the complainant has explicitly accepted that the matter is fully resolved or that it is reasonable for the financial services provider to assume that the complainant has so accepted. A complaint should only be regarded as resolved once any and all undertakings made by the financial services provider to resolve the complaint have been met.

“TCF” Treating Customers Fairly is an outcome based regulatory and supervisory approach designed to ensure that specific, clearly articulated fairness outcomes for financial services customers are delivered by regulated financial service providers (FSPs). FSPs are expected to demonstrate that they deliver the required 6 TCF Outcomes to their customers throughout the product life cycle, from product design and promotion, through advice and servicing, to complaints and claims handling – and throughout the product value chain.

How to make a complaint

If you as a customer or prospective customer have a complaint against our brokerage, it must be submitted to us in writing. It can be submitted either by hand, post, fax or email at the contact details that appear in this document.

You should provide sufficient detail of the complaint including policy number or investment number, details.

We will keep a record of the complaint and maintain such record for 5 years as required by legislation.

Who will handle your complaint?

Once your complaint has been received it will be allocated to and dealt with by adequately trained staff.

The person responsible for your complaint will furnish you with his/her contact details and the reference number of your complaint (if applicable).

PHILIP BOTHA, the complaints manager will have oversight over the complaints allocated to various personnel and you may direct any queries to the Complaints Manager whose details are recorded in this document.

Receive and classify

We will ensure that all potential issues are captured and classified for escalation, review and action as required.

Any complaint, issue or negative customer interaction must be reduced to writing and must be logged and classified for action.

A third party acting on behalf of a complainant must deliver a certified or original consent or power of attorney to act on behalf of a complainant. Should such third party fail to deliver a consent or power of attorney, no further dealings will be pursued with such third party until the proper authority is obtained. The complaint will however be taken up directly with the complainant on whose behalf the complaint is made.

All complaints must be formally logged using the system.

Risk

All complaints will be prioritised as follows:

Risk 1

Routine complaints, potential low business impact. This requires a response to the customer within 15 working days.

Routine complaints have the potential of becoming serious or official complaints should they be disregarded or ignored by a financial services provider.

The staff member logging the complaint should review the complaint and its priority with the Complaints Manager before proceeding to the next step.

The Complaints manager will decide on the appropriate person(s) to carry out subsequent steps, including the investigation.

Risk 2

Urgent, serious business impact. This requires a response to the customer within 5-10 working days.

Serious complaints are complaints logged on media platforms, received from legal advisors or immediately evidence contravention of legislation requirements such as failure to conduct a proper needs analysis.

These complaints from the outset may cause reputational harm to a financial services provider and/or may cause financial loss to a customer.

These complaints should ideally be handled by the Complaints Manager/Key Individual or suitable senior person delegated to the task by the Complaints Manager/Key Individual.

Complaints from third parties and/or legal advisors will be responded to within 24 hours, acknowledging receipt of the complaint and further requesting authority to act on the complainants behalf such as a power of attorney or consent by the complainant to deal with the complaint on the complainant’s behalf.

No information will be divulged to a third party who does not have the proper authority to act on a complainant’s behalf.

Risk 3

Urgent official complaints received from regulators e.g. FAIS Ombud. The regulator usually stipulates a response time of 30 days from receipt of the complaint.

Official complaints should be handled by the Complaints Manager/Key Individual.

The investigation of the complaint may be delegated to a suitable senior person selected by the complaint manager and the required draft response and attachments may be collated by such senior person.

The Complaints Manager will be ultimately responsible for compiling the response to the regulator. The response to the Regulator should be made within the stipulated turn-around time.

Categorisation

Complaints will be categorised according to its nature, e.g. service, product related, features, performance, advice given etc.

These categories are then narrowed down to its impact on customer. The impact of the complaint is measured by further categorising it according to the following TCF Outcomes:

TCF Outcome 2 – These are complaints relating to the design of a product or service. The categories which affect TCF outcome 2 would be product features and charges.

TCF Outcome 3 – These complaints relate to unsuitable or inaccurate, misleading, confusing or unclear information provided to a customer throughout the life cycle of a product. This could vary from advice, product information, information provided in advertising or marketing material about a product or service rendered etc. These disclosures would include the conflict of interest disclosures required by the General Code of Conduct of FAIS (Code); Section 4 and 5 of the Code or any other disclosure requirements in terms of the Code or any other legislation.

TCF Outcome 4 – These are complaints which relate to the advice given to a customer by an advisor which was misleading, inappropriate and/or tainted with conflicts of interest which was not disclosed. Inappropriate advice given as a result of lack of knowledge, skill or experience on the part of the advisor of the product or service being rendered, would also be included here. The failure to conduct a needs analysis and to consider the customers financial position, goals or life stage would also amount to a contravention of suitable advice requirements and any complaint in association herewith would fall into this category.

TCF Outcome 5 – Complaints in this category pertain to product performance and service related issues. This would include complaints relating to customer’s disappointment with limitations in a product or service performance of which they were unaware as well as the inability of a product to meet a customer’s expectations. Complaints related to a product supplier’s exercise of a right to terminate a product or amend its terms, would also be included in this category.

TCF Outcome 6 – These complaints relate to product accessibility, changes or switches, complaints relating to complaints handling and complaints relating to claims would be categorised here.

Other categories may be developed which are appropriate to this outcome and will be incorporated into our policy and attached complaint register.

Acknowledge

All complaints will be acknowledged within 24 hours of receipt.

Where an acknowledgement is made telephonically it will be followed up with a written response whether by SMS or email.

A complaint reference number will be despatched to the complainant on acknowledgment of the complaint.

The details of the person allocated to the complaint will be despatched to the complainant within 48 hours from receipt.

Investigate

The investigation will be driven by analysing the root cause of the complaint to enable the complaint to be appropriately dealt with and to avoid, if possible, its reoccurrence.

This may require that both internal and external key facts are identified and clarified.

Should a complaint relate to product features or services handled solely by a product supplier, this matter will be escalated and appropriately dealt with in conjunction with the product supplier, ensuring that the matter is resolved to the satisfaction of the complainant.

All areas of interaction and communication will be documented and where appropriate, consent obtained from the complainant to ensure that no personal information is divulged or processed without the complainant’s knowledge or consent.

During the investigation process the complainant will be kept appropriately updated of the progress of the investigation.

Resolve and confirm

Ensure that the proposed resolution meets Treating Customer Fairly Outcomes, does not prejudice the financial services provider or complainant and does not involve any unnecessary legal or financial implications.

The proposed action will be documented and discussed and agreed upon with the Complaints Manager and/or affected Key Individual and Representative.

The signed off resolution will then be discussed and reviewed with the complainant to ensure fairness and clarity and to further ensure that the resolution deals with the root cause of the complaint.

The review should include recognition and documentation of any underlying issues that have contributed to the complaint and recommendations for actions to prevent further occurrence.

Respond to Customer

The details of the findings and proposed resolution should be clearly explained (in written or verbal form as appropriate) to the customer- within the agreed timescales.

Where a complaint cannot be addressed within three weeks by the financial services provider, it must as soon as reasonably possible after receipt of the complaint send to the complainant a written acknowledgment of the complaint with contact references of the FAIS Ombud.

If within six weeks of receipt of a complaint the FSP, CAPVEST WEALTH MANAGEMENT (PTY) LTD has been unable to resolve the complaint to the satisfaction of a complainant, the complainant may:

refer the complaint to the Office of the FAIS Ombud if he/she wishes to pursue the matter; and

the complainant MUST do so within six months of receipt of such notification.

Follow up and Review

Complaints will be diarised to ensure it remains within the appropriate turnaround times.

Should a complaint exceed the turn-around time due to unforeseen and reasonable circumstances, the complainant will be kept appropriately informed of the reasons for the delay and a speedy resolve will continuously be sought.

A complainant will be kept appropriately informed throughout the complaints process of the resolution being sought.

Upon resolution of the complaint another follow-up will be conducted to ascertain whether the customer was satisfied with the complaints handling process and the resolution sought and whether the resolution was proper and fair.

Any negative responses will be actioned in the quarterly review of complaints.

Quality Assurance and Close

The complaints manager will ensure that all employees of CAPVEST WEALTH MANAGEMENT (PTY) LTD have access to the complaints resolution manual.

Customers will be made aware of the complaints resolution manual and will have access to the manual upon request.

All complaints will be reviewed QUARTERLY and would be further utilised as TCF Management Information utilised to improve overall TCF outcomes.

All complaints will be actioned with the aim of preventing reoccurrence, where feasible.

Important Contact Details

FAIS OMBUD

PO Box 74571, Lynwood Ridge, 0040

(+27) 012-7625000

info@faisombud.co.za

www.faisombud.co.za

LONG TERM INSURANCE OMBUDSMAN

Private Bag X45, Claremont, 7735

(+27) 021-6575000 / 086 103 236

info@ombud.co.za

www.ombud.co.za

PENSION FUND ADJUDICATOR (PFA)

PO Box 580, Menlyn, 0063

(+27) 012-3461738

enquireis@pfa.org.za

www.pfa.org.za

OMBUDSMAN FOR BANKING SERVICES / BANKING ADJUDICATOR

Po Box 87056, Houghton, 2041

(+27) 011-7121800

info@obssa.co.za

www.obssa.co.za

4.  CONFLICT OF INTEREST POLICY

Background

Section 3A(2)(a) of the General Code of Conduct stipulates that every provider, other than a representative, must adopt, maintain and implement a conflict of interest management policy that complies with the provisions of the Act. The policy is to provide for mechanisms in place at CAPVEST WEALTH MANAGEMENT (PTY) LTD (Capvest) to identify, mitigate and manage the conflicts of interest to which Capvest is a party. This Conflict of Interest Management Policy is designed as prescribed in Board Notice 58 of 2010 which amends the General Code of Conduct for Financial Services Providers and Representatives published in Board Notice 80 of 2003, as amended by Board Notice 43 of 2008.

Objective of the Policy

This Conflict of Interest Management Policy does not change our existing conflict of management procedures but intends to document them in simple form as required by the Financial Services Board.

In terms of the Financial Advisory and Intermediary Services Act, 2002, Capvest is required to maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to identify, monitor and manage conflict of interest. Capvest has put in place a policy to safeguard its clients’ interests and ensure fair treatment of clients. All providers, key individuals, representatives, associates and administrative personnel will commit to such policy and the processes will be monitored on an ongoing basis.  Capvest keeps and maintains a register in which all actual or potential conflicts are recorded.

Mission Statement and Conflict of Interest

Capvest is committed to ensuring that all business is conducted in accordance with good business practice. To this end Capvest conducts business in an ethical and equitable manner and in a way that safeguards the interests of all stakeholders to minimise and manage all real and potential conflicts of interests. Like any financial services provider, Capvest is potentially exposed to conflicts of interest in relation to various activities. However, the protection of our clients’ interests is our primary concern and so our policy sets out how we will identify circumstances which may give rise to actual or potential conflicts of interest entailing a material risk of damage to our clients’ interests.  We have established appropriate structures and systems to manage those conflicts and we will maintain systems in an effort to prevent damage to our clients’ interests through identified conflict of interest.

Definitions

Conflict of Interest

A conflict of interest may occur when in rendering a financial service to you we do not act objectively or do not render an unbiased or fair service to you or do not act in your interests, including but not limited to a financial interest, an ownership interest or any relationship with a third party.

Financial Interest

This includes any cash, cash equivalent, voucher, gift, service, advantage, benefit, discount, domestic or foreign travel, hospitality, accommodation, sponsorship, valuable consideration, other incentive or valuable consideration (exceeding R1000 per annum) other than an ownership interest, training, that is not exclusively available to a selected group of providers or representatives, on products and legal matters relating to those products, general financial and industry information and specialised technological systems of a third party necessary for the rendering of a financial service, but excluding travel and accommodation associated with that training.

An Ownership Interest

This includes any equity or proprietary interest for which a fair value was paid on acquisition other than such such an interest held by a nominee or any dividend, profit share or similar benefit derived from such interest.

Fair Value

Has the meaning assigned to it in the financial reporting standards adopted or issued under the Companies Act, 61 of 1973.

What may we Give and Receive?

We confirm that we will only receive financial interest from the aforesaid providers in the form of Commission authorized under the Long-term Insurance Act, 52 of 1998, Commission authorized under the Short-term Insurance Act, 53 of 1998, Commission authorized under the Medical Schemes Act, 131 of 1998, Fees under the aforesaid acts if these fees are reasonably commensurate to the service being rendered, Fees for rendering a financial service in respect of which no commission or fees are paid as aforesaid, if those fees are specifically agreed to by you in writing and may be stopped at your  discretion, Fees or remuneration for the rendering of a service to a third party, which fees are reasonably commensurate to the service being rendered, Subject to any other law, an immaterial financial interest and a Financial interest for which a consideration, fair value or remuneration that is reasonably commensurate to the value of the financial interest, is paid at the time of receipt thereof.

Remuneration Policy

Please refer to our Letter of Disclosure for information on our Remuneration Policy.

Processes and Internal Controls

To adequately manage conflicts of interest we must identify all relevant conflicts timeously.  In determining whether there is or may be a conflict of interest to which the policy applies, Capvest considers whether there is a material risk of damage to the client, taking into account whether Capvest or its representative, associate or employee is likely to make a financial gain, or avoid a financial loss, at the expense of the client, has an interest in the outcome of a service provided to the client or of a transaction carried out on behalf of the client, which is distinct from the client’s interest in that outcome, has a financial or other incentive to favour the interest of another client, group of clients or any other third party over the interests of the client and receives or will receive from a person other than the client, an inducement in relation to a service provided to the client in the form of monies, goods or services, other than the legislated commission or reasonable fee for that service.

Our policy defines possible conflicts of interest as, inter alia conflicts of interest between Capvest and the client, conflicts of interest between our clients if we are acting for different clients and the different interests conflict materially, conflicts of interest where associates, product suppliers, distribution channels or any other third party is involved in the rendering of a financial service to a client and storing confidential information on clients which, if we would disclose or use, would affect the advice or services provided to clients. We may only receive commissions authorised in terms of applicable legislation.

Capvest maintains an index of potential conflict risks, taking into consideration all business areas and income streams. The index is updated with all new conflicts identified, and to ensure completeness is reviewed on an annual basis.

Our Key Individuals also closely monitors any potential conflict of interest closely. All employees, including internal compliance officers and management, are responsible for identifying specific instances of conflict and are required to notify the Key Individual of any conflicts they become aware of. The Key Individual will assess the implications of the conflict and how the conflict should be managed and act impartially to avoid a material risk of harming clients’ interests.

Measurement for Avoidance and Mitigation of Conflict of Interest

We create awareness and knowledge of applicable stipulations of the General Code of Conduct and relevant legislation relating to conflict of interest, through training and educational material.  We also ensure understanding and adoption of conflict of interest policy and management measures by all employees, representatives and associates.  Regular inspections on all commissions, remuneration, fees and financial interests proposed or received in order to avoid non-compliance.  This includes:

  • Keep a register of conflict of interest.  Once a conflict of interest has been identified it needs to be appropriately and adequately managed.  The Key Individual will assess each conflict, including whether the conflict is actual or perceived, what the value of the conflict or exposure is and the potential reputational risk. Compliance and management then agree on the controls that need to be put in place to manage the conflict.
  • Disclosure.  Where there is no other way of managing a conflict, or where the measures in place do not sufficiently protect clients’ interests, the conflict must be disclosed to allow clients to make an informed decision on whether to continue using our service in the situation concerned. In all cases, where appropriate and where determinable, the monetary value of non-cash inducements will be disclosed to clients.
  • Publication.  We will publish our conflict of interest management policy in appropriate media and ensure that it is easily accessible for public inspection at all reasonable times. Our COI policy is available in hard copy, it is stored electronically and is also available on our website.  A copy will be provided on request.
  • Declining to act.  We may decline to act for a client in cases where we believe the conflict of interest cannot be managed in any other way.

Ongoing Monitoring of Conflict of Interest Management

This policy will be reviewed annually and must be included in your annual FSB compliance report, containing details “…on at least the implementation, monitoring and compliance with, and the accessibility of the conflict of interest management policy.”   Our Key Individuals will be responsible for supervision and monitoring of this policy.  Information is updated immediately when required in our registers and other documentation, e.g. after client meetings, transactions, product provider meetings etc.  The key individual or staff member in charge of supervision and monitoring of this policy will regularly monitor and assess all related matters.

Training and Staff

All employees and representatives are required to read Board Notice 58 of 2010 as well as this policy and to sign a statement to the effect that they have done so and fully understand the provisions of both documents and the application thereof.  Comprehensive training on the Conflict of Interest policy will be provided to all employees and representatives as part of specific and/or general training on the FAIS Act. Training will be incorporated as part of all new appointees’ induction and refresher training provided on an annual basis.  The Key Individuals, Philip Botha and Anton Meyer will conduct ad hoc checks on business transactions to ensure the policy has been complied with.  The Compliance Officer will include monitoring of the Conflict of Interest policy as part of his general monitoring duties and will report thereon in the annual compliance report.  Non-compliance will be subject to disciplinary procedures in terms of FAIS and employment conditions and can ultimately result in debarment or dismissal as applicable.  Avoidance, limitation or circumvention of this policy via an associate will be deemed non-compliance.  This policy shall be reviewed annually and updated if applicable.

Representative Incentives

We confirm we will not offer any financial interest to our key individuals or representatives for favouring quantity of business over quality of service, for giving preference to a specific product supplier where more than one supplier can be recommended to a client and for giving preference to a specific product of a supplier where more than one product of that supplier can be recommended.

Registers

With regard to existing third party relationships, being the product suppliers listed in our Contact Stage Disclosure letter, we confirm that we do not have an ownership interest or are subject to exclusive training nor are there any other circumstances which could lead to a potential conflict of interest.  Should any conflicts arise with regard to any of these prior to entering into any business transaction with you we undertake to disclose these in the registers below.

CAPVEST WEALTH MANAGEMENT (PTY) LTD has implemented the following Registers:

  1. Nature and Extent of Ownership interests
  2. Financial Interest Received
  3. Nature and Extent of Business Relationships
  4. Associations

5.  TREATING A CLIENT FAIRLY POLICY (TCF)

Our Treating Customers Fairly Policy is centered around guidelines provided by the FSCA’s Board to ensure we consistently deliver fair outcomes to our clients and take responsibility for the business and staff, providing an enhanced service quality to clients, based on a culture of openness and transparency.  As a business, we take the requirements of the FSCA seriously – the requirement to treat customers fairly.  The regulator has introduced the 6 drivers of treating clients fairly. Capvest Wealth Management (Pty) Ltd (Capvest) is bound and supports these outcomes:

Outcome 1:  Customers are confident that they are dealing with firms where the fair treatment of customers is central to the firm culture.  We believe in people growth, knowledge sharing, training, by doing so we will gain and improve customer confidence.

Outcome 2:  Products and services marketed and sold in the retail market are designed to meet the needs of identified customer groups and are targeted accordingly.  We follow the financial planning guidelines and monitor, measure and control activities of representatives accordingly.

Outcome 3:  Customers are given clear information and are kept appropriately informed before, during and after the time of contracting.  Various activities are performed in the business to ensure clear information is given to clients on a structured manner through various communication channels.   Our conflict of interest policy is available and communicated to all staff.   Each individual staff member has an employee contract which include client confidentiality, data integrity and must adhere to it.   Policies and procedures such as claims, complaints and reviews are available for staff members and we ensure it is regularly emphasized in the business.

Outcome 4:  Where customers receive advice, the advice is suitable and takes account of their circumstances.

Outcome 5:  Customers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and what they have been led to expect.

Outcome 6:  Customers do not face unreasonable post-sale barriers to change product, switch provider, submit a claim or make a complaint.

These outcomes serve the FSCA’s three intermediate outcomes:  Improved customer confidence, appropriate products and services and enhanced transparency and discipline.

Capvest has built these outcomes into their business processes to improve client service and understanding.

6.  THE PROTECTION OF ACCESS TO INFORMATION ACT (PAIA)

PAIA MANUAL

An Authorised Financial Services Provider regulated by the Financial Services Board, FSP Number 41026

Registration Number of Company: 2009/021475/07

NAME OF COMPANY: CAPVEST WEALTH MANAGEMENT (PTY) LTD

MANUAL
in terms of
Section 51 of
The Promotion of Access to Information Act
2/2000
(the “ACT”)
December 2011

  1. Introduction to CAPVEST WEALTH MANAGEMENT (PTY) LTD
  2. Contact Details
  3. The ACT
  4. Applicable Legislation
  5. Schedule of Records
  6. Form of Request
  7. Any other Information e.g. Prescribed Fees

INTRODUCTION

CAPVEST WEALTH MANAGEMENT (PTY) LTD conducts business as Wealth Managers. We are an Authorized Service Provider in terms of the Financial Advisory & Intermediary Service Act. Our FSP license number is 41026.

COMPANY CONTACT DETAILS

Directors:  PW Botha, AM Meyer

Physical Address:  25 Culross Road, Bryanston, 2152.  225 Spoonbillway, Xanadu Eco Park, Hartbeespoort, 0216

Postal Address:  PO Box 8, Fourways, 2055

Phone: 012-2593856

Email:  philip@capvest.co.za

THE ACT

The ACT grants a requester access to records of a private body, if the record is required for the exercise or protection of any rights. If a public body lodges a request, the public body must be acting in the public interest.

Requests in terms of the ACT shall be made in accordance with the prescribed procedures, at the rates provided. The forms and tariff are dealt with in paragraphs 6 and 7 of the Act.

Requesting parties are referred to the Guide in terms of Section 10 which has been compiled by the South African Human Rights Commission, which will contain information for the purposes of exercising Constitutional Rights.

The Guide is available from the SAHRC.

Postal Address:  Private Bag X2700, Houghton, 2041

Telephone:  011-8773600

Fax:  011-4030625

Mail:  paia@sahrc.org.za

Website:  www.sahrc.org.za

APPLICABLE LEGISLATION

No                    Ref                                 Act
1                      No 61 of 1973               Companies Act
2                      No 98 of 1978              Copyright Act
3                      No 55 of 1998              Employment Equity Act
4                      No 95 of 1967              Income Tax Act
5                      No 66 of 1995              Labour Relations Act
6                      No 89 of 1991              Value Added Tax Act
7                      No 37 of 2002              Financial Advisory and Intermediary Services Act
8                      No 75 of 1997               Basic Conditions of Employment Act
9                      No 69 of 1984              Close Corporations Act
10                     No 25 of 2002             Electronic Communications and Transactions Act
11                     No 2 of 2000                Promotion of Access of Information Act
12                     No 30 of 1996              Unemployment Insurance Act

ACCESS TO RECORDS AND AVAILABILITY

The head of CAPVEST WEALTH MANAGEMENT (PTY) LTD Must, during office hours and upon request, make available for public inspection a copy of the manual, May not charge a fee for a public inspection referred to in paragraph (1) and may, in respect of a copy of the manual or part thereof made available in a manner other than that contemplated in paragraph (1), charge the fees prescribed in Item 1 of Part III of Annexure A and the actual postage if a copy must be posted.

Public Affairs:

Available on request

Public Product Information

Public Corporate Records

Media Releases

Financial:

Available on request

Financial Statements

Financial and Tax Records (Company & Employees)

Asset Register

Management Accounts

Marketing:

Available on request

Market Information

Public Customer Information – Product Brochures and Owner Manuals

Field Records:

Request in terms of PAIA

Performance Records:

In our annual report available

Product Sales Records:

Request in terms of PAIA

Marketing Strategies:

Request in terms of PAIA

Customer Database:

Request in terms of PAIA

Dealer Franchise Documents:

Request in terms of PAIA

FORM OF REQUEST

To facilitate the processing of your request, kindly:

Use the prescribed form, available on the website of the SOUTH AFRICAN HUMAN RIGHTS COMMISSION at www.sahrc.org.za

Address your request to the Head of the Company (CEO).

Provide sufficient details to enable the COMPANY to identify:

  • The record(s) requested;
  • The requester (and if an agent is lodging the request, proof of capacity);
  • The form of access required;
  • The postal address or fax number of the requester in the Republic;
  • If the requester wishes to be informed of the decision in any manner (in addition to written) the manner and particulars thereof;
  • The right which the requester is seeking to exercise or protect with an explanation of the reason the record is required to exercise or protect the right.

PRESCRIBED FEES

Please download Form C and Fee Schedule from SAHRC Website

The following applies to requests (other than personal requests):

  • A requestor is required to pay the prescribed fees (R50.00) before a request will be processed;
  • If the preparation of the record requested requires more than the prescribed hours (six), a deposit shall be paid (of not more than one third of the access fee which would be payable if the request were granted);
  • A requestor may lodge an application with a court against the tender/payment of the request fee and/or deposit;
  • Records may be withheld until the fees have been paid;
  • The fee structure is available on the webite of the South African Human Rights Commission at www.sahrc.org.za.

SOUTH AFRICAN HUMAN RIGHTS DISCLAIMER

The South African Human Rights Commission reserves all rights and makes no warranty, either express or implied, with respect to the information and/or promotional material contained herein and is not responsible for any expenses, inconvenience, damage (whether special or consequential) or claims arising out of posting, time and costs incurred and or associated with this information and will not be liable for the latter. Specific exemption from any liability is claimed with regard to the following:

The SAHRC does not endorse any third party private service provider and will not bear any costs related to your transaction to compile the manual on your behalf.

Submission to the SAHRC is free and the SAHRC does not charge any fees for advise or administration however all cost to lodge manuals is at the relevant private entities own cost e.g. registered mail etc.

7.  PROTECTION OF PERSONAL INFORMATION ACT (POPI)

THE Protection of Personal Information Act’s, No. 4 of 2013 (“the Act”) main objective is to ensure that your constitutional right to privacy is carried out.  The Act requires us to inform you how we use, protect, store and disclose your personal information.  We have taken the necessary measures to ensure that your personal information is used appropriately, transparently, with respect and according to law.

Who we are

Capvest Wealth Management (Pty) Ltd is an independent and owner-managed business:  Company Registration Number 2009/021475/07.  FSP Number 41029.

The Company was established in March 2010 by founding members, Philip Botha and Anton Meyer.

We are an independent Financial Advisory Services Business and not aligned with any bank, insurance company or investment house.

The following Wealth Managers are licensed to provide clients with advice: Philip Botha, Anton Meyer, Yzelle Reynolds and Grant Dixon.

The directors of Capvest Wealth Management (Pty) Ltd are as follows:  Philip Botha, representing The Legacy Trust – IT15/2004 & Anton Meyer.

The shareholders of Capvest Wealth Management (PTY) Ltd are as follows:  Anton Meyer & The Legacy Trust (IT15/2004) – represented by Philip Botha.

What information we collect

We collect and process your personal information mainly to provide you with access to the services and products of / related to Capvest Wealth Management (Pty) Ltd.  We only collect information that we need for that purpose.  We only collect information directly from the client.

Furthermore, the type of information we collect will depend on the need for which it is collected and will be processed for that specific purpose only. Where possible, we will inform you what information you are required to provide to us and what information is optional. We may also require additional information from you and this will be subject to the same privacy regulations.

How we use your information

Your personal information will only be used for the purpose we requested and collected it.  We will only apply the information to purposes you agreed upon.

  • FICA purposes – Confirming and verifying your identity;
  • For your transactions and instructions;
  • For the detection and prevention of fraud, crime, money laundering or other malpractice;
  • For audit and compliance purposes;
  • For recordkeeping purposes;
  • In connection with regulatory requirements;
  • To share information with service providers related to your instructions and with whom you have a business relationship;
  • Communication purposes.

Disclosure of your information

We may disclose your personal information:

  • For services or products, you choose to use;
  • To service providers who are involved in delivery of products or services to you;
  • Where we have a duty or a right to disclose in terms of applicable legislation, the law or where it may be necessary to protect our rights.

Security of Information

The POPI Act requires us to provide adequate protection and stop unauthorized access and use of personal information.    We take utmost care to safeguard your information and have procedures (security controls and processes) in place that is continuously reviewed to ensure that your personal information is secure.  Some of these include:

  • Computer security, network security and measures to prevent cybercrime;
  • Secure communications via email;
  • Secure communications via phone;
  • Physical security;
  • Security measures in contracting out activities and functions;
  • Governance policies;
  • Monitoring access of information;
  • Monitoring of using information;
  • Security incidents – investigating and reacting to incidents;
  • Retention and disposal of information.

We have appropriate security, privacy and confidentiality processes in place when contracting with third parties, e.g. service providers.

Your rights to access and correction of your personal information

You have the right to access the personal information we hold about you.

You also have the right to correct, add, delete or update this personal information.  We will only update these changes after doing the required due diligence.

Changes to the POPI Disclosure

We may update the POPI Disclosure from time to time.  Please visit our website periodically for any updates.

Our contact details

If you have any questions of queries regarding the above, please contact Philip Botha:

Office:  012-2593856

Mobile:  082 564 2522

Email Address:  philip@capvest.co.za