Conflict of Interest
Commrisk Life is an independent company and does not own any financial interest in any product supplier or any other financial services provider. In terms of the Commrisk Life Investment Policy and our Conflict of Interest Policy no fund manager, product supplier or service supplier is given preferential treatment. With this in mind, Commrisk Life does not receive any rebates or incentives from investment managers, nor does the company pay any incentives to their advisors and intermediaries.
Commrisk Life will as far as possible make use of the Wealthport LISP when selecting an administrator for investment products, portfolios and underlying funds, provided this does not cause any conflict of interest between Commrisk Life (Pty) Ltd trading as Commrisk Life and the client.
Professional Indemnity
Professional indemnity insurance is held for the amount of R5 000 000.00. Commrisk Life also holds the following insurance policies: Employee Practise Liability of R100 000.00, Employee Dishonesty Liability of R2 000 000.00, Comprehensive Cyber Liability of R1 000 000.00, Loss of Client R100 000.00, Fidelity Guarantee Extension R250 000.00 and Directors and Officers Liability Extension R1 000 000.00.
Compliance
Compliance with the FAIS Act is monitored by Anel Naude (BCom Investment Post Grad Diploma – Financial Planning), a compliance officer at Compli-Serve (Pty) Ltd. FSCA Practice Number CO6797, email: anel@compliserve.co.za. Compli-Serve (Pty) Ltd can be contacted at: 106 Johan Avenue, Sandton, 2196, South Africa, Tel nr: +27 87 897 6970. We are committed to comply with FAIS since the purpose of the Act is to protect you, our client. In the event that you are dissatisfied with any aspect of Commrisk Life’s service, you should address your complaint in writing to the above address. A copy of Commrisk Life’s Complaints Policy is available on request.