Made in terms of The Financial Advisory & Intermediary Services ("FAIS") Act 37 of 2002
In terms of the Financial Advisory and Intermediary Services Act, 37 of 2002 (hereinafter referred to as FAIS), Eshaak Lakhi (Pty) Ltd (hereinafter referred to as LakhCap or Lakhify) is required to provide you with the following pertinent information. Please read through the document and should you have any queries please speak to your Representative mentioned below.
FINANCIAL SERVICES PROVIDER ("FSP")
The FSP is Eshaak Lakhi (Pty) Ltd, Trading as LakhCap Global, with Financial Service Provider Number 52566. LakhCap is a wholly owned subsidiary of Montebellos Global Holdings (Pty) Ltd. The provider accepts responsibility for those activities of the representatives performed within the scope of, or in the course of business.
Eshaak Lakhi, CFP®
ESHAAK “ISAAC” LAKHI, CFP®
Tel: +27 82 860 6179 | E-mail: email@example.com
In The Industry Since: 2005
Qualifications: Postgraduate Diploma in Financial Planning Law | Advanced Diploma in Banking & Banking Law | Key Individual Exam (RE1) | 1st Level Regulatory Exam for Representatives (RE5)
Registered As: Representative (Mandated)
PROFESSIONAL INDEMNITY INSURANCE
Professional Indemnity Insurance: LakhCapGlobal holds Professional Indemnity Insurance with AON South Africa (Pty) Ltd and is underwritten by Old Mutual Insure. Our limit of liability is R1 000 000 (One Million Rand) and you accept the said limitation of liability.
For standard insurances/investment services, we are reimbursed by way of commission. For bespoke Consulting services, we charge a fee of ZAR2 000 + VAT, per hour.
AUTHORISATION AS A CATEGORY 1 FSP
LakhCap is authoried for all categories listed below, whilst ISAAC LAKHI is declared fit and proper to provide financial advice in the selected financial instruments described below:
- Long-Term Insurance: Category A, B1, B1A, B2, B2A, C
- Retail Pension Benefits | Pension Funds Benefits (excluding retail)
- Participatory interest in a Collective Investment Scheme
- Money Market Instruments
- Long Term Deposits | Short term deposits
FINANCIAL INSTITUTIONS REPRESENTED: Allan Gray, Bidvest Life, Capital Legacy, Jaltech Fund Management, and 1Life | >30% of business is placed with Capital Legacy
NON-FINANCIAL INSTITUTIONS REPRESENTED: LakhCap Global may receive a distribution fee/similar from Lakhify Global Technologies (Pty) Ltd, Lakhi Publishers (Pty) Ltd, and/or other Organizations, that are not FAIS-regulated
SHARE HOLDING IN ANOTHER FINANCIAL SERVICES PROVIDER: None
CLAIMS PROCEDURE: Inform LakhCap Global, your Financial Planner, or the insurer of possible claims.
FINANCIAL INTELLIGENCE CENTRE ACT ("FICA")
In terms of FICA, we are accountable institutions. We are required to identify all prospective clients and investors, verify the information provided and keep records of verification documents. We are also obliged to report to the authorities any suspicious and unusual transactions that might facilitate money laundering.
Investors should note that numerous risks are involved in buying or selling any financial product. Past performance of a particular financial product is not necessarily indicative of future performance. The value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions. Illustrations, forecasts or hypothetical data are not guaranteed and are provided for illustrative purposes only. This document does not constitute a solicitation, invitation, investment recommendation or advice. It is recommended that investors seek specialised financial, legal and tax advice before selecting a financial product
SOUTH AFRICAN LAW
The laws of the Republic of South Africa shall govern any claim relating to or arising from the contents of this document
LakhCap values the support of our clients and places a strong emphasis on building, nurturing, and maintaining sustainable relationship. In the unlikely event that you feel that your rights have been prejudiced, you are encouraged to use our internal complaints procedure to ensure that the issue is resolved timeously to your satisfaction. You may direct your complaints to firstname.lastname@example.org. We will investigate your Complaint and provide you with feedback within thirty days. A copy of the FSP's Complaints Policy and Conflict of Interest Management Policy is available at our office on request via e-mail at email@example.com.
If, however, you are not satisfied with the result of your complaint, you may then escalate your complaint to:
- The FAIS OMBUD: PO Box 74571, Lynnwood Ridge, 0040 | Telephone: 0860324766
WAIVER OF RIGHTS
Nobody may ask you or offer any inducement to you to waive any right or benefit conferred on you by or in terms of any provision of the General Code of Conduct. A copy of the Code of Conduct is available on request.
AUTHORIZATION TO OBTAIN INFORMATION
You understand that appropriate financial advice can only be provided after full and proper disclosure of relevant personal and private information regarding your financial situation, existing financial products, financial product experience, financial needs, and objectives. For this purpose, you hereby undertake to provide us with access to any and all such information in your possession. Furthermore, you give consent to Isaac Lakhi to obtain any and all such information directly from the relevant Banks, Insurance Companies, Asset Managers, Fiduciary Services Companies, Credit Bureau/x, Deeds Offices, CIPC, SARS, Home Affairs, Share Registrars, Windeed, the Trusts Divisions at the Office of the Masters of the High Courts, The Financial Services Exchange trading as Astute, and to process such information for the purpose of providing you with financial advice. You also consent to Isaac Lakhi sending your personal information to service providers outside South Africa for processing or storage in a country with similar information protection legislation South Africa. This authorization will remain valid until cancelled by you in writing.
AUTHORISATION TO CONTINUE ADVICE & MANAGEMENT AFTER MY DEATH
You further agree to the continued advice, management. and reporting by your appointed Financial Planner, after your death, until the time your Executor settles your estate with the transfer your heirs and/or legacies. This includes recovering existing fees for advice, administrative services, and management on your existing investment portfolio. This authorisation applies to all administrative investment services providers as at date of your death and where LakhCap was appointed as my Financial Planner on record. Furthermore, you hereby grant a waiver of liability to all administrative investment service providers for any claims, reminders, losses, expenses, or levies of any kind arising from the continued advice and recovery of fees payable after my death.
Your application for our services serves as confirmation of your consent granted above and an acknowledgement of personal receipt of this disclosure.