Quick reads for this week

The FPI has announced the three finalists for this year’s Financial Planner of the Year award.

The annual Financial Planning Institute of Southern Africa (FPI) Convention, incorporating a Gala Dinner and Awards Ceremony, takes place in less than three weeks.

A highlight of the event is the crowning of the FPI Financial Planner of the Year (FPOTY). The three finalists who will be vying for this prestigious award are Gareth Collier CFP®, Rudolph Geldenhuys, CFP® and René Van Der Spreng, CFP®. The winner will be announced on August 13, at the Century City Conference Centre, Cape Town, at the Gala Dinner Awards Ceremony.

The FPOTY award was launched in 2000 and is a highly sought-after prize that recognizes excellence in the profession and practice of financial planning.

The winner will receive the FPI Financial Planner of the Year trophy, together with a certificate, and be appointed as one of the FPI’s professional brand ambassadors.

The competition to recognise the country’s top CFP®, is of necessity, stringent, and challenging. All the nominees had to meet rigorous criteria and had to showcase their talents and abilities exhibiting innovative ideas, excellent skills, and impeccable ethics when dealing with clients.

Discovery Bank takes top spot in new Ask Africa Banking Brand index

Research company, Ask Africa has announced the results of its all-new Ask Africa Banking Brand Index in which Discovery Bank took the top spot for both brand connection and emotional satisfaction.

With input from clients across 11 major South African banks, Discovery Bank won the hearts and minds of banking clients across all income groups with 72% of clients, almost 20% higher than the industry average, experiencing ‘Delight’ with the Bank and rating it at 9 and 10 out of 10. Overall, Discovery Bank outperformed the industry to take the prime position as the top banking brand.

Hylton Kallner, CEO of Discovery Bank, said, “It’s gratifying to know that South Africans show conviction in our banking brand to deliver on its promise. Receiving ratings as high as 10 out of 10 for brand emotion and satisfaction – meaning our clients are not just satisfied but, in fact, delighted – makes me and the entire Discovery Bank team extremely proud. We always set the bar high so for us, these results show South Africans, and our clients, feel and experience every effort we make. I’d like to thank Ask Africa and all participants for this valuable acknowledgement of our purpose-led business, and how it has our client’s best interest at heart – it drives us to continue serving excellence in banking and service.”

Take-home salary levels are the same as July 2020: BankservAfrica

The BankservAfrica Take Home Pay Index (BTPI) has announced that for July 2021, the average salary did not change compared to a year ago.

According to BankservAfrica, in July 2021, the real average salary was R12 129 for the month, which is R2 more than the July 2020 salary. This is, however, R383 lower than the June 2021 average.

"One must remember that average salaries during the height of the Covid-19 first wave ended up being higher than usual. Lower-paid casual workers bore the brunt of the cost-cutting by large companies at that stage, while higher-paid monthly employees did not suffer the same level of reductions.

"So, in that context, the average take-home pay for July 2021 is robust despite staying on the same level. The number of people receiving a paycheck did not change significantly between June and July either. The monthly equivalent number of payments made declined by less than -0.1% and by R1 092 in value from June 2021," it said.

Despite the looting and the riots in July 2021, there were very few job losses.

"Another influence on the July 2021 figures is the decade low that the BTPI reached in July 2020 due to the Covid-19 crisis. To illustrate the extent of this, the number of working people increased by 41% in July 2021 due to July 2020 being the lowest point of the Covid crisis," BankservAfrica said.

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