Statutory Disclosure

Legal Scoop, made in terms of The Financial Advisory & Intermediary Services ("FAIS") Act 37 of 2002: 

Under the Financial Advisory and Intermediary Services Act, lovingly known as FAIS (because who doesn't love a good acronym), Eshaak Lakhi (Pty) Ltd, trading as Lakhify Financial Technologies (or just Lakhify for short), has a duty to spill the beans on some important info. Take a moment to peruse the document, and if you're left scratching your head or just fancy a chat, hit up the friendly face listed as your go-to contact below.

FINANCIAL SERVICES PROVIDER ("FSP")

Meet Eshaak Lakhi (Pty) Ltd, the cool parent company behind the scenes, known as Lakhify Financial Technologies (we like to keep things snazzy). Our squad, rocking the Financial Service Provider Number 52566, is a lively branch of the Lakhify Global Holdings Ltd family tree. Think of us as the ones who take the reins for the stuff our representatives get up to while they're on the clock or making business magic happen. Yep, we've got it all under control.

KEY INDIVIDUALS

Eshaak "Isaac" Lakhi, CFP®

LAKHIFY REPRESENTATIVE

Meet the maestro of money matters at Lakhify, none other than Isaac Lakhi, the brain behind the brilliance.

Contact Isaac on +27 82 860 6179 | E-mail: isaac@lakhi.co.za

Industry Rockstar Since: 2005

Qualifications That Make Heads Turn: Postgraduate Diploma in Financial Planning Law.  Advanced Diploma in Banking Law. 1st Level Regulatory Exam for Representatives (RE5). Key Individual Exam (RE1)

Officially Registered As: Representative (Mandated)

PROFESSIONAL INDEMNITY INSURANCE

Safety First : Lakhify has got its armor on with Professional Indemnity Insurance, the superhero of the financial world. AoN South Africa (Pty) Ltd and Old Mutual Insure are the wizards behind the scenes, ensuring our limit of liability is a whopping R2,000,000 (Two Million Rand). So, you've got the stuff on our superhero cape—wear it proudly!

 

REMUNERATION

For my services I am reimbursed by way of commission Cash Rules Everything Around Me (C.R.E.A.M.) – The Remuneration Scoop:

Let's talk money, shall we? When it comes to my gig, I'm rolling in the green with good ol' commissions. Now, let's get into the nitty-gritty. Lakhify is like a financial wizard, authorized for all the cool stuff you can think of. And yours truly, Isaac Lakhi, is officially declared fit and proper to drop some financial wisdom on you in the following categories:

CATEGORY 1 FSP (Financial Services Provider):

- 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

- Shares

- Money Market Instruments

- Long Term Deposits | Short term deposits

DISTRIBUTION

The Scoop on Where We Do Business: We're like the Avengers of the financial world, representing some heavy hitters. Here's the lineup of Financial Institutions We Roll With: 1Life, Camissa Asset Management, Allan Gray, Bidvest Life, Capital Legacy, Discovery, Jaltech Fund Management (because one mention is not enough). Fun fact: More than 30% of our business groove is with Capital Legacy.

Diverse Connections Beyond Finance: Lakhify might catch a little something from Lakhify Global Holdings  Ltd, Lakhi Publishers (Pty) Ltd, and other cool cats not regulated by FAIS. Think of it as expanding our financial universe.

Playing Nice with Others: No shareholding in another financial services provider. We're all about keeping it real and independent.

Claims 101: If life throws a curveball, give us, your financial guru, or the insurer a shout about possible claims. We've got your back!

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 COMPLAINTS 

Let's Chat: Complaints Edition 🗣️: At Lakhify, we're all about good vibes and solid connections with our awesome clients. But hey, life happens, and if you ever feel like things aren't vibing right, we've got your back.

Step 1: Speak Up: If you think your rights got a little tangled, hit us up at feedback@lakhi.co.za. We've got these internal complaints things down to an art form.

Step 2: Investigation Mode 🔍: Once you've spilled the tea, we'll put on our detective hats and investigate the situation. You can expect some feedback within thirty days because we don't mess around with your concerns.

Bonus: Policies on Deck! 📜Curious about our Complaints Policy and Conflict of Interest Management Policy? We've got those gems at our office, and you can snag them via e-mail at feedback@lakhi.co.za.

Final Boss Level: Escalation 🚀: If, by some cosmic twist, you're not thrilled with the resolution, feel free to take it up a notch and escalate the matter to the FAIS OMBUD. They're the superheroes in this scenario:

- FAIS OMBUD: PO Box 74571, Lynnwood Ridge, 0040 | Telephone: 0860324766

Remember, we're here to make things right and keep the good vibes flowing! 🌟

FINANCIAL INTELLIGENCE CENTRE ACT ("FICA")

Keeping it Legal and Lekker with FICA 🕵️‍♂️🔍: Alright, let's talk shop. According to the FICA rulebook, we're officially on the books as an accountable institution. Here's the lowdown on what that means for you and us:

Step 1: Who Are You? 🕵️‍♂️: When new pals (that's you!) walk through our door, we've got to play detective. We'll need to know who you are, verify the deets you give us, and, of course, keep a record of the Sherlock Holmes-worthy evidence.

Step 2: Verifying the Scoop 🧐: We're not just taking your word for it. We've got to double-check the info you provide. It's like the ultimate fact-checking mission.

Step 3: Playing it Safe 🛡️: If something smells fishy (and not in a good seafood dinner way), we're not shy about it. Our superhero duty is to report any suspicious or weird transactions that might be up to no good. It's all about keeping the financial world safe from any shady business.

So, there you have it - our FICA game plan. Just a bunch of financial superheroes doing our part to keep things legit and lekka! 💼🦸‍♂️

 

WAIVER OF RIGHTS

No Surrendering Rights – Let's Keep It Real! 🚫🤝: Just a heads-up, no one should be throwing sweet deals or trying to convince you to give up any rights or perks you've got under the General Code of Conduct. It's like having a VIP pass – don't let anyone talk you into trading it away! Your rights, your rules. 🛡️💪

AUTHORIZATION TO OBTAIN INFORMATION

Let's Share the Deets: Authorization in Action! 🌐🔍

Here's the deal: for me, Isaac Lakhi, to be the financial wizard you need, I've got to know the ins and outs of your financial world. So, I'm counting on you to spill the beans on your financial situation, products, experience, needs, and goals. It's a trust thing.

Now, let's make it official. I give you my word that I'll handle all this info responsibly. Plus, I've got the green light to reach out to the big players – 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 me with financial advice and more – to gather the necessary intel. It's like assembling the Avengers of financial info!

And just so you know, your secrets are safe with me. If we need to send your info to service providers outside South Africa, I'll make sure they play by the same info protection rules we've got here.

This agreement is a long-term commitment, but if you ever feel like it's time to part ways, just give me the word in writing, and we'll wrap things up. Cool? 👍📝

APPOINTMENT

Let's Make it Official: Your Financial Squad 🤝💼: You’re thrilled to welcome Eshaak Lakhi (Pty) Ltd, with FSP number 52566, to your financial dream team! And of course, Eshaak Lakhi himself is your go-to Financial Planner for all things investment, risk, and fiduciary. We've got all the paperwork sorted, and just to make sure we're on the same page, you're confirming that you understand the ins and outs of having Eshaak Lakhi by your side. Change can be a big deal, and we're here to guide you through it. So, here's to a rock-solid financial journey together! If you ever have questions or need guidance, we're just a message away. Let's make those financial dreams a reality! 🚀🌟

AUTHORISATION TO CONTINUE ADVICE & MANAGEMENT AFTER MY DEATH

Planning for the Beyond: Future Financial Legacy 🌐📜: Let's talk about the long game – even after you've embarked on your next great adventure. You're giving the nod for your appointed Financial Planner (aka your financial superhero) to keep the financial ship sailing smoothly even after you're no longer with us.

Here's the rundown:

• Posthumous Financial Guidance 🚢💼: Your chosen Financial Planner will keep the financial advice, management, and reporting going strong until your Executor wraps up your estate affairs and passes the financial torch to your heirs or legacies. It's like leaving a trusted financial guide for your loved ones.
• Fee Recovery Operations 💸🔄: We're not leaving any financial stone unturned. Your Financial Planner gets the green light to collect existing fees for advice, administrative services, and management from your current investment portfolio. After all, it's all part of keeping the financial wheels turning.
• All Hands on Deck! 🤝: This authorization covers all the administrative investment service providers in the mix at the time of your departure. They're all in sync with Lakhify, your Financial Planner on record.
• No Hard Feelings Zone 🚫🤷: You're graciously waiving any liability claims, reminders, losses, expenses, or levies that might pop up due to the ongoing advice and fee recovery post your earthly journey.

It's a forward-thinking move, ensuring your financial legacy is in capable hands. If you ever want to tweak the plan, just let us know. Here's to a future-proof financial strategy! 🌌📈

DISCLAIMER

Friendly Heads-Up: Navigating the Financial Terrain 🚦🌍. Just a quick chat about the reality of the financial world – it's a bit of a rollercoaster! Here's the lowdown:

• Rollercoaster Alert 🎢📉📈: Buying or selling any financial product is like riding a rollercoaster – thrilling but not without its twists and turns. Keep in mind that what happened in the past might not be a crystal ball for the future. It's a wild ride!
• Ups and Downs 🔄💹: The value of financial products is a bit like a seesaw – it can go up or down depending on the underlying securities and market vibes. It's a dance influenced by many factors.
• Crystal Ball Not Included 🔮🚫: Those cool illustrations, forecasts, or hypothetical data? They're like a magic show – entertaining but not guaranteed. They're just here to paint a picture, not predict the future.
• No Pressure, No Pushing 🤚🚫: Consider this a chill chat, not a sales pitch. This document isn't here to push you into anything. It's not a solicitation, invitation, or a golden investment recommendation. It's more like a guidebook – read it, think about it, and decide what suits you best.
• Wise Moves 🤓🔄: Before diving into the financial pool, it's smart to chat with the experts – financial, legal, and tax pros. Get their insights to make sure you're making the best moves for your unique situation.

So, there you have it – a bit of financial wisdom to keep in your back pocket. If you have questions, we're here. Let's navigate this financial journey together! 🌐🛤️

SOUTH AFRICAN LAW

Legal Talk: Rule of the South African Land 🇿🇦⚖️: Here's the legal lowdown – in simple terms, we use Law of the South African Soil 🏞️📜: Any claim linked to or springing from what's in this document falls under the wise jurisdiction of the Republic of South Africa. In other words, the legal rules of the South African turf are in charge. It's like saying, "Hey, we're playing by South Africa's rulebook here!" If you ever have legal questions or concerns, we're here to help navigate the South African legal landscape. Let's keep everything above board and in harmony with the law! 🌐🤝 So, there you have it – a bit of financial wisdom to keep in your back pocket. If you have questions, we're here. Let's navigate this financial journey together! 🌐🛤️

DECLARATION

Sealing the Deal: Your Declaration of Consent 🤝📜

By placing your signature below, you're essentially giving a big thumbs-up to everything mentioned above. It's your way of saying 🔍 "I've read it, I'm cool with it, and I'm on board!". This signature isn't just a formality; it's your confirmation that you've received your Financial Planner's Disclosure document personally. So, consider it a mutual handshake to kick off this financial journey together! If there are ever updates, changes, or if you simply want to chat, we're just a message away. Here's to a fantastic financial partnership ahead! 🌟🚀

 Last updated on November 16, 2024