Overview of Findata Financial Services

What do we do?

We provide integrated financial planning services to:

• Employers

  • HR and remuneration policy planning. Helping employers manage changing remuneration environment
  • Ensuring competitive remuneration practises
  • Incorporating total cost remuneration structures
  • Employee benefit planning
  • Integrating employee benefits in total cost
  • Ensuring flexibility to incorporate maximum employer and employee contributions
  • Defining flexible pensionable income up to 83% of total package value
  • Providing for employer contribution of 17% of pensionable income to retirement funding. Provide for maximum employee contribution to pension fund of 7.5% of pensionable income
  • Employee risk benefits. Provide for:
    • Approved death benefits equal to tax free maximum currently R300 000
    • Underwritten on group basis
    • Premium calculated for group or age related
    • Supplementary death cover non approved
    • Individually underwritten group costing with medical questionnaire and individual underwriting.
  • Employee benefit disability
    • Include lump sum disability in death benefits
    • Lump sum not idea
    • Requires total permanent disability
    • Supplementary income disability benefits – up to 75% of income. After specified waiting period up to normal retirement age.
    • With inflationary increase.
    • Better benefit pays in event of temporary as well as permanent disablement
  • Disability premium waiver
    • Pays premiums on retirement funding and death benefit in event of disablement. Must escalate with inflation. Ensures that retirement funding is maintained when disability income terminates.
  • Trauma cover
    • Trauma or dreaded disease cover under utilised
    • Could provide benefit if lump sum disability benefit is not recognised
    • Add to lump sum death and disability provision
  • Payroll administration
    • Implementing total cost and flexible benefits requires integrated payroll administration.
    • Findata does needs analysis per individual
    • Structures remuneration to provide for indentified needs
    • Incorporates structures into payroll
    • Changes structures as needs change

• Employees

  Employee benefits only fully utilised if employees are informed.

  Findata educates employees on:

  • Benefits,
  • Integrates individual needs with flexible benefits,
  • Structures total cost to optimise remuneration utilisation.
  • Plans retirement to maximise capital accumulation
  • Retirement funding contribution
  • Investment portfolio selection
  • Timing retirement
  • Limit tax on commuted benefits
  • Matching annuity options to claiming needs

• Individuals

  • Manage death, disability and retirement financial planning
  • Conduct regular needs analysis
  • Manage risk benefits
  • Optimise cost benefit ratio
  • Manage medical aid utilisation and cost
  • Structure remuneration to ensure best value utilisation
  • Tax planning
  • Manage income tax
  • Limit estate duty
  • Estate planning
    • Optimise asset distribution
    • Limit estate accrual for beneficiaries
    • Utilise tax planning opportunities of trusts
  • Investment planning
    • Review risk profile
    • Amend investments to optimise risk return, based on risk profile
    • Amend portfolios during life cycle
  • International planning
    • Manage financial planning of international financial affairs, incorporation all of the above

How do we do it?

Individual planning synopsis

Who do we work with?

Findata and its associates work with other professionals and organisations to improve service delivery.

Preferred provider: Finsolnet

Findata is a Principal Associates of Finsolnet. Finsolnet is a network of independent professionals in the financial and related industries. The associates work together to:

• Maintain the independence of the individuals
• Pull resources and intellectual capital for better solutions
• Create economies of scale to reduce cost
• Continued reviewed solutions to adjust to changing circumstances

Findata and its associates are actively involved in the workings of Finsolnet. They participate in the various functional committees and elect directors to manage the day to day affairs.