FIN360

FIN360° is a holistic financial education offering aimed at directors, middle to senior level management, current and future professionals, small business owners and retirement fund members.

The programme comprises an array of practical modules aimed at equipping individuals with the knowledge and skills they need to maximise their financial effectiveness, supported by printed take-home booklets.

See below for more information on the modules offered as part of FIN360.

• Risk Management

  This module provides an understanding of the personal risk environment, including what risk is and the options available to address specific risks. It includes practical measures to address risk and protect wealth, as well as ways of reducing financial hardship in the event of traumatic events such as death, disability or prolonged illness by:

  • Maximising the use of available capital,
  • Developing alternative income or capital sources, and
  • Arranging insurance protection of the appropriate amount or type.
• Investment Planning

  Investment planning leads to wealth creation, which is the ability to build up sufficient capital over a period of time to enable the individual to meet their financial objectives.

  This module assists individuals to understand the different types of investment vehicles available, investment principles, risk profiling and asset allocation. It also addresses the impact of tax on such vehicles in order to match the appropriate investment vehicles to their objectives. Through the module, attendees are able to gain a proper understanding and awareness of:

  • Investment Strategies
  • Investment vehicles
  • Risk profiling
  • Asset Allocation
  • The Economic Environment
• Retirement Planning

  This module aims to clearly position the need for and the creation of a retirement plan, highlight issues impacting on retirement and identify typical mistakes made. Retirement savings vehicles, preservation and the options available at retirement are covered. The modules include:

  Advanced Retirement Planning - deals with the importance of accumulation and preservation and discusses how to create a retirement plan. It also focuses on common mistakes made in preparing for retirement as well as issues affecting retirement today.

  The module covers:

  • Issues at retirement – Longevity, health, inflation, returns.
  • The retirement plan.
  • Typical mistakes we make in planning.
  • Typical mistakes we make in investing.
  • How to invest for retirement.
  • How much is enough?
  • How does your retirement fund stand up?

  Planning at Retirement - specifically focused on employees close to retirement, the module provides valuable insight on important issues that need to be considered. Tax planning, income expectations and annuity choices are discussed. This is a particularly important module as the decisions made at retirement generally have lifetime consequences.

  This module covers:

  • Retirement needs.
  • How much income do I need?
  • What is an annuity? - Life annuities and living annuities.
  • How long will my capital last?
  • How much income tax will I pay and how can I pay less?
  • Practical investment tips to maximise income and minimise tax.

• Wills & Estate Planning

  This module deals with an often-overlooked aspect of financial planning - wealth preservation - and aims to provide an understanding of the practicalities of a will and of estate planning techniques and concerns, including the use of trusts in estate planning. Attendees are assisted in understanding the issues and requirements involved in structuring their affairs and finances to effectively support dependents or to leave a legacy.

  Module content includes:

  Wills

  • What is a will? Why have one and what are the legal requirements?
  • Intestate succession
  • Marital regime including customary union & divorce
  • Bequests
  • Liquidity in the estate
  • Trusts
  • Protection clauses.

  Estate Planning

  • Executors
  • Duties of executors
  • Dutiable estate
  • Estate duty
  • Liquidity

• Fund Member Education

  Fund-specific member education aims to inform members of retirement funds on all aspects of their membership. This covers the rules of the in-house fund, fund benefits, member level choice and options (if available), the use of a retirement benefit calculator, and the implementation of a retirement plan. By offering this module, trustees and employers are assisted in fulfilling their obligations to educate and inform members of their benefits, while members are educated on all aspects of their membership - thereby enabling them to make informed decisions relating to their fund.

  The Evergreen Member Education module emphasises the importance of retirement planning as well as educate and inform the new Evergreen members of the benefits and options of the Evergreen Fund. The module also equips members with knowledge and tools as this will assist them in making informed investment choices.

• Leaving a Retirement Fund

  This module aims to ensure that those leaving a retirement fund are fully aware of all the options available to them, as well as the financial impact of each option, so that they are placed in a position to make informed decisions. This is critical given that the decisions made at this stage will impact on their future.

  In the case of retrenchments, this module could be offered in conjunction with the Building Resilience Module, which aims to enable participants to deal with, and process, the issues they face as a result of their retrenchment. It also equips them to formulate strategies for their future.

  A particular area of focus is the importance of preserving retirement benefits when leaving a fund and the options available to members to do so effectively.

• Wealth and your Business

  The modules making up this component aim to provide existing or prospective business owners with an understanding of personal finance issues, the different legal entities, basic tax and succession planning. Family-owned business governance structures are also covered. The modules includes:

  • Business Assurance, Small and Medium Enterprises and Family-owned businesses
  • Starting your own business - Covering basic set-up requirements, how a marketing plan is developed and business finance is procured, on the various legal entities, basic taxation and financial accounting, as well as the basics of buying a business.
  • Banking - provides an understanding of all aspects of business banking, including asset financing, structured lending, debit and credit cards, home loans and private banking.

• Perspectives on Financial Planning

  Proper planning is one of the cornerstones of financial wellbeing. This course assists attendees to set goals and create holistic financial plans building on the two main pillars of financial planning, namely the creation of wealth and the protection of created wealth. The module is often presented as an introduction to one or more of the other modules.