Guest Post: Cyber Insurance

Original Article via MoonStone.co.za

Cyber insurance – A first priority for SMEs

Late last year, Business Report shared that according to the global Cyber Exposure Index, South Africa currently has the sixth highest average exposure to cybercrime, with businesses in the industrial and financial sectors being the most commonly targeted by cybercrime attacks.

Another similar report revealed that around 61 percent of small businesses experienced a cyber-attack in 2017.

It is reported that cyber-criminals target SMEs that hold valuable business data, such as personal customer or financial information. These small businesses often do not implement the stringent online security measures that large corporates have in place.

Santho Mohapeloa, Digital Distribution Specialist at SHA Specialist Underwriters is referenced in the article. He stresses the importance for SMEs to have adequate cover in place to help their business recover swiftly from cyber-attacks.

Editor’s note: Although cyber insurance can be seen as business opportunity for financial advisors, FSPs as SMEs should also put actions and systems in place to reduce their risk of falling victim to a cyber-attack.

Click here to read the Business Report article.

P.S.: Are you interested to find out more of the “Why, What, Where, When and How…” uncovered and discovered in the process of writing the thesis (The Psychological impact of past experiences [and rehabilitation thereof] on daily driven financial decisions)? Sign up for our direct mailing list -> CLICK HERE

Guest Post: Behavioural Science leads to better returns

Original Article via MoonStone.co.za

Behavioural science leads to better returns

Financial Planner of the Year shares tips – Behavioural science leads to better returnsIn a recent Business Report article, Janet Hugo Financial Planner of the Year, shares how behavioural finance can be used in an efficient and practical manner in the wealth-management process.

 

According to Hugo one of the easiest ways to incorporate investor psychology into financial planning is to apply goal-based investing, which involves creating specific goals with defined time horizons and selecting investments with the correct asset allocation for each goal. She shares that it works very well for pre-retirement clients who are accumulating wealth, as well as for post-retirement clients who need income from their capital.

She also uses behavioural finance in the wealth-management process to create an awareness of emotional biases that affect investment decisions.

Scenario playing is another excellent way to include behavioural finance in the financial planning process.

Click here to read the article.

 
 

P.S.: Are you interested to find out more of the “Why, What, When and How…” uncovered and discovered in the process of writing our thesis (The Psychological impact of past experiences [and rehabilitation thereof])? Sign up to our direct mailing list -> CLICK HERE

Guest Post: FSB FAIS Circular 4 of 2015

Original article via MoonStone.co.za

FSB FAIS Circular 4 of 2015

The FSB published a Guidance Note on the Interpretation and Application of Section 13(1)(c) on 24 June 2015.

This document has specific bearing on “…authorised financial services providers who wish to conduct financial services business with the assistance of an agent, or a network of agents engaged as their employees or mandatories…” and requires them “…to accept vicarious responsibility for the activities of their agents performed within the scope of, or in the course of implementing, the agent’s mandate or service contract.”

Further to the Guidance Note, the FSB now issued Circular 4 of 2015 which highlights certain practical considerations when applying section 13(1)(c).

Affected Moonstone Compliance clients will be advised by their compliance officers who were fully briefed on the Guidance Note at a recent conference.

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