personal finance

Transcription

personal finance

English
February 2013
PERSONAL
FINANCE
NI
U
MB
S
LIZÉ LAMBRECHTS ASKS:
WHAT
WILL 2013
LOOK
LIKE?
S
U
L
P
PULL-OUT
... AND
PROVIDES
SOME
GREAT
INSIGHTS
R
POSTEO
IN
H
WHO’S W
RSHIP
E
D
A
E
SFA L
TC
Un
i ve
rsi
F
ty
TREATING
CUSTOMERS FAIRLY
FROM REGULATORY APPROACH
TO COMPANY CULTURE
+ SFA’S NEW VISION // INTRODUCING NIMBUS // SANPORT UPDATE
CONTENTS
Dear SPF
colleagues
IS
PEOPLE &
PERFORMANCE
2
In the news
What’s up inside SPF
The year ahead
Q&A with Lizé Lambrechts
SPF culture
Treating Customers Fairly – keep doing
what we’re doing
SPF incentives
How your performance can pay off –
plus SPF’s high achievers
To the market
Zelda Knoetze on marketing for 2013
My story
Paul de Kock found an unusual way
to train his team...
Extra mile
How Betsie du Toit’s community work
helps her business
In pictures
Who’s been snapped and seen
6
Welcome to a brand-new year with brand-new prospects –
and a brand-new monthly Inside Sanlam Personal Finance
print magazine!
I hope SPF’s very own internal print magazine keeps you
glued to the pages. This is your magazine and I invite you to
actively engage the editorial team so that news from your
part of the business is covered, and your stories are told!
This year, when our clients think of financial services, I
want Sanlam to be right up there – top of mind! How will you
contribute to make that happen?
I know that, in SPF, we employ the very best people for the
job, and we have some of the best product solutions, advice
and business practices in the industry to ensure that we
are everything our clients
expect of us.
Many areas within SPF
have been and remain hard
at work to ensure that 2013
is, indeed, a year in which Sanlam and SPF will again exceed
expectations, so watch out for exciting announcements on
product launches and enhancements; and for great strides
in areas of our business that are earmarked for improved
market penetration and expansion.
On a personal note… the pressure to profitably grow our
business, and to personally perform and be the best in
the industry will require you to work even more efficiently
and smarter than before. My experience is that when the
chips are down, SPF employees excel and surprise even
themselves. I’m confident that, this year, you’ll once again
prove this to be true.
As you keep your eye on the challenges and prepare to
celebrate successes, I urge you to ensure that you always
know exactly how your work contributes to making SPF a
client-centric organisation. Be innovative when you have to,
and take personal responsibility for your own career journey.
It is as important as our company’s successes, because
without you our journey with our clients will be neither
successful nor fulfilling.
12
18
24
27
28
‘When the chips
are down, SPF
employees excel.’
30
IS
THE BUSINESS
4 Distribution news
New vision for SFA – and Nimbus!
10 Product updates
News on Glacier and Masterplan
11 Sanlam Advisers Forum
The latest from Wimpie Jonker
16 Pull-out poster
Who’s who in SFA leadership
26 Process updates
Process news you need to know
For Sanlam
For New Media Publishing
Head: Group Communications
Ainsley Moos
Senior manager: Communication,
Sanlam Segment Solutions
Esann de Kock
Communications manager:
Sanlam Investments
Thaniah Toefy
Address: Sanlam Head Office,
2 Strand Road, Bellville,
South Africa
Editorial contributors:
Ami Kapilevich, Ruwaydah Lillah,
Heather Parker, Trudie Myburgh,
Robyn von Gesau, Donald Paul
Art direction and design:
Sean Robertson, Julia van
Schalkwyk, Nita Nagar
Account director:
Melissa Cumming
Content director: Adelle Horler
Business development director:
Andrew Nunneley
Printer: CTP Web.
Published for Sanlam by
New Media Publishing,
19 Bree Street, Cape Town
Telephone: 021 417 1111
English
February 2013
PERSONAL
FINANCE
NIM
BU
S
LIZÉ LAMBRECHTS ASKS:
WHAT
WILL 2013
LOOK
LIKE?
S
PLU
PULL-OUT
... AND
PROVIDES
SOME
GREAT
INSIGHTS
POSTER
IN
WHO’S WHO HIP
SFA LEADERS
LIZÉ LAMBRECHTS, CHIEF EXECUTIVE
TCF
Cover illustration:
Patrick Latimer
Univ
ersit
y
TREATING
CUSTOMERS FAIRLY
FROM REGULATORY APPROACH
TO COMPANY CULTURE
+ SFA’S NEW VISION // INTRODUCING NIMBUS // SANPORT UPDATE
00_ofcPF.indd 1
2013/02/12 4:06 PM
FEBRUARY 2013
Sanlam Personal Finance 1
à
Product
SA N L A M A DV I S E R S F O R U M
Showcase
BLUESTAR
BUSINESSES
COLLABORATE The chairman of the Sanlam Advisers Forum,
FOR SUCCESS Wimpie Jonker, on its history, role and the year to come
SAF to the fore!
GLACIER
INTERNATIONAL
makes global
index funds
available to
local investors
10 Sanlam Personal Finance
FEBRUARY 2013
Sanlam Sky Solutions’ Masterplan
Sanlam Sky Solutions’ Agency Distribution
and Broker Division are committed to
delivering a clearly defined product strategy
this year to ensure that they improve on their
ability to meet the majority of clients’ needs
in the entry and emerging market segments
in South Africa.
The newly revamped Masterplan product
forms part of this plan, says Gavin Downard,
the head of Agency Distribution at Sanlam
Sky Solutions.
‘The revamped Masterplan product also
supports our efforts to increase the average
productivity levels of our sales force in order
to deliver on the significant growth objectives
of Sanlam Sky Solutions and SPF as a whole,’
Gavin says.
Agency Distribution has identified the
Masterplan solution as a niche product that
can complement their traditional
product (particularly the funeral cover
product), if targeted at appropriate
market segments.
They have also identified:
•Micro businesses employing between 10 and 75 employees who wish to offer
their staff a cost-effective packaged
funeral and savings solution, with the
option of adding hospital and disability
benefits, as a key segment;
•The Masterplan product as a key solution
in their efforts to increase Sanlam’s
market penetration in the Western
Cape and other geographies that have a
higher than normal and growing small
enterprise sector.
‘The Masterplan has proven a valuable
solution in our product arsenal and we
are very excited that the newly revamped
Masterplan will give us a competitive
advantage in 2013,’ adds Ronald Samuels,
head of Broker Division. He says Masterplan
will enable their Brokers to provide a wider
selection of products and increase their
debit order business. It will also provide their
Brokers in the entry-level market with a
compelling solution for small
business owners.
A niche product that
can complement
their traditional
product if targeted at
appropriate segments
IMAGES THINKSTOCK AND SUPPLIED
There has always been a case for diversifying internationally, but
more so now with expectations that global equities will outperform
local markets in the coming decade. Clients may acknowledge the
need for international exposure, but often don’t know where to start
when looking at actively managed international funds by managers
they may not be familiar with. In order for clients to get simple
exposure to markets they may be interested in, Glacier International,
a division of Glacier by Sanlam, has launched a range of global index
funds within their Global Life Plan.
The daily priced funds, available from BlackRock Investment
Management and based on principles pioneered in their popular
iShares ETF (Exchange Traded Funds) range, are offered at an
annual management fee of 0.55%, substantially less than most
active funds on offer.
An ETF is a passive investment product, it’s listed and investors
can trade investments as they would a normal share. An index fund,
being daily priced, doesn’t require investors to open a stockbroking
account to purchase the product. The premise behind both is to
track a defined index of
stocks – for example, the MSCI
World Index – without taking
active decisions about which
individual stock might perform
better than another. This
makes it an ideal investment
for those who are not
necessarily seasoned offshore
investors but who are looking
for cost-effective international
exposure. In addition to
the diversification benefits,
investors are protected against
weakening of the rand.
An initiative that
encourages relationships
between individual
BlueStar businesses
and specially
selected independent
accountancy businesses
is bearing fruit. Ten
BlueStar businesses
are already involved
in what is known as
Project Catalyst, which
establishes a structured
process of co-operation
and contracting between
the two.
According to Johan
Minnie, BlueStar national
support manager, the
initiative has been very
successful. ‘BlueStar
businesses that meet
certain criteria are
invited to apply for
participation in the
project. Every BlueStar
business is linked to a
specific accountant.
‘We are very excited
about the potential
of Project Catalyst –
good business is being
concluded in the target
market in which BlueStar
businesses want to
operate. The initiative
has enormous potential,
as accountants have a
multitude of business
clients to whom we now
have access and can
offer the full spectrum
of financial services.’
Tell us a bit about the history of SAF.
The Sanlam Advisers’ Forum (SAF) was formed in
the early ’90s after the need arose, particularly in
southern Gauteng, for advisers to address issues around
their working environment, as well as to establish a
forum in which they could engage with management.
The previous chairman was Willie Koen and he was
instrumental in growing SAF from one region to the rest
of South Africa.
In 2000 (at which stage everybody working as an
SFA was part of SAF), there was a debate about SAF
being dismantled, which gave rise to a more independent orientation of SAF –
we continued on our own.
We introduced membership fees, and began to
self-organise.
Another big shift
occurred with the
remuneration restructuring
which placed more
responsibilities on the
advisers. Structures had to be put in place to protect the
advisers, and those
negotiations are still continuing. While the discussions
have been robust, they’ve also been in a good spirit,
which has improved even further over the last 10 years or
so – to the extent that we’ve got carte blanche regarding
the issues that we table during our discussions.
are cast for representation by ballot, show of hands
or even email. This allows us to select a primary, who
will represent a unit. These people form the regional
committee, and from that we elect members who will
serve for two years on the national committee. They
come down to Bellville three times a year for meetings
with Sanlam management. We also have the privilege
of meeting Dr. Johan van Zyl and senior management
twice a year. This is a great opportunity for us to raise
issues of concern, such as the RE exams. There are
always issues on the ground that are important to raise
with management.
‘There are always
issues on the ground
that are important
to raise with
management.’
What role does SAF play?
Over the years, we’ve had a lot of input into contracts,
because at that stage most of the advisers were on
contract; of course, these days we have contractors
and employees.
Another important role that we play is in the
disciplinary process. In the case of any disciplinary action,
will want to ensure that the correct procedures are
followed to allow a fair outcome. With contract workers,
in particular, there is quite a specialised process that
needs to be followed.
We are also trustees of the Sanlam Financial Advisers’
retirement fund. We have two people on that board as
trustees, and we participate actively in the management
of that fund. We also form part of a committee that
participates in the medical aid schemes.
Tell us about the 2013 SAF election.
We’ve got a constitution, according to which votes
How do advisers
become SAF
members?
That’s one of our biggest
challenges. Although
membership is only R65 per
month, we first have to identify
all the new financial advisers
who have been appointed in that month. Madalaine
Swanepoel is instrumental in assisting us with that. We
will then either contact them on an individual basis or
during meetings and let them know about the forum and
the benefits of SAF membership.
At this stage we have about 50% representation, and
we’re hoping to grow it to 70% in the near future. To
achieve this we have opened our doors to both advisers
and associate advisers. We want to achieve broader
regional and demographic representation.
Any specific plans for 2013?
We have an active agenda, and we address issues as
they arise. But this year, a major focus is the election.
This is concluded at the end of March at a regional level.
The ten representatives then convene in Bellville on 8
May. We then elect a chairperson, secretary and vicechair. My focus is to get than new committee on the go.
Are there issues that you know will
require some attention this year?
One thing is definitely the launch of the new Sanfin – the
new financial analysis programme that will be rolled out
this year. We were actively involved in providing input for
this, through SAF. One of our concerns is that the data
be transferred securely and correctly. Another big project
is Treating Customers Fairly. Hopefully we will also be
involved in Sanlam’s approach to this initiative.
FEBRUARY 2013
THOUGHT LEADERSHIP
Are you, in all your thinking
and all your actions, fair
to your clients? The new
Treating Customers Fairly
framework is taking a
regulatory requirement and
turning it into a company
culture – and it all starts
with you.
W
hat every financial services
provider in South Africa is
grappling with today might
not be whether it acts fairly towards
its clients, but whether it can
provide evidence of this.
In recent years major players in
the financial services industry have
been reinventing themselves with
higher ethical goalposts and more
scrupulous client-centric cultures.
But this alone may not be
enough and you’ll have to provide
tangible proof once the Financial
Services Board’s (FSB) new Treating
Customers Fairly (TCF) initiative
comes into effect in January 2014.
Sanlam is rightly proud of its clientcentric values, says Lizelle Nel, head
of Actuarial Analysis at SPF and chair
of Sanlam’s TCF steering committee.
But, providing evidence for this may
be a challenge. ‘For instance, we have
a good product sign-off protocol
but it doesn’t have an explicit TCF
requirement. This is the kind of thing
we will need to address in preparation
for January 2014, when TCF is formally
adopted.’
In July 2012 Sanlam employed
What is TCF?
Treating Customers Fairly (TCF) is a regulatory approach, initially
introduced to SA by the FSB via a discussion paper in 2010 and due
to come into effect in January 2014. It sets out to ensure that financial
services clients are treated fairly, and requires regulated firms to assess
this at all stages, from product design and marketing through to advice,
point-of-sale and after-sales service.
à
independent auditing firm Deloitte
to assist with preparation. ‘With them,
we have been looking at what the FSB
says; our interpretation of how TCF
has played out in the UK, and our own
policies,’ explains Lizelle. ‘We have
developed a list of key deliverables
we need to put into place over the
upcoming months, rated ourselves and
did a formal gap analysis. And so now
we have a detailed action plan.’
From a perception perspective,
Sanlam did very well in the first-blush
analysis. But providing evidence and
making things ‘checkable’ may be an
expensive and challenging process, she
says. But, there’s an upside to this: ‘in
support of Sanlam’s drive to look after
our clients better, the work is not going
to be wasted’.
Lizelle anticipates that the big
challenge for the FSB may be to find
the resources to monitor the industry’s
myriad smaller players, who may
each have different interpretations
of the principles that underpin
TCF. ‘It’s harder to get it right when
you’re interpreting something than
when you’re simply following rules,’
she adds. For instance, unrelated
decisions might have side effects that
compromise TCF: a decision to instal
new software has cost implications
that a client might argue is unfair.
It’s going to be a bit of a journey
getting it right. But the outcomes
will include a regulatory framework
that makes better customer service
easier to deliver, as well as more
confident, secure customers.
The desired outcomes of TCF
Ultimately TCF sets out to achieve
improved client confidence,
appropriate products and services,
and enhanced transparency and
discipline in the industry.
It looks for the following fairness
outcomes:
•That clients can be confident they
are dealing with firms at which the
FEBRUARY 2013
fair treatment of clients is central
to the culture.
•That products and services are
designed to meet the needs of
identified client groups.
•That clients are given clear
information and kept informed
before, during and after the time
of contracting.
•That advice given is suitable to a
client’s circumstances.
•That clients are provided with
products and services that are of
an acceptable standard and what
they have been led to expect; and
•That clients do not face
unreasonable post-sale barriers to
change product, switch provider,
submit a claim or make
a complaint.
client-centricity
WHAT DOES TCF MEAN TO YOU
New energy to our
Like everyone else in our industry, Sanlam will
be required to demonstrate that the
fair treatment of clients is central to
our culture.
‘We are already a strongly client-centric
organisation,’ says Lizelle Nel, head of Actuarial
Analysis at SPF and chair of Sanlam’s TCF
steering committee, ‘and we consider TCF a
subset of that.’
Little, she suggests, will need to change in
terms of Sanlam’s client-centric values, but
there will need to be some changes in policies
in order to equip Sanlam to provide evidence,
when required. In terms of its leadership,
strategy and decision-making protocols as well
as in its criteria for performance management
and remuneration policies, Sanlam will need,
consciously and formally, to include fairness to
the client
as a criterion.
The FSB will adopt an intrusive approach to
supervision, and has been given considerable
powers with which to enforce compliance.
REGULATIONS WE CAN ALL GET BEHIND
A regulatory framework is required to ensure that financial services providers
deliver desired outcomes in a way that is:
Consistent: Financial service providers need a common framework.
Complete: The framework needs to close gaps in existing consumer
protection coverage and review any contradictions.
Co-ordinated: The framework sets out to reduce the risk of duplication,
inconsistencies or gaps.
Aligned with international best practice; and
Engages stakeholders: The FSB will engage with affected stakeholders,
ombud schemes, regulatory experts and other authorities to obtain input
and support in developing the framework.
‘We have developed a list
of key deliverables we
need to put into place over
the upcoming months,
rated ourselves and did a
formal gap analysis’
- Lizelle Nel
FEBRUARY 2013
à
Process
Update
New support
for sales
consultants
An IT
renaissance
Did you know?
Self-help transactions
made easy
Ý
Epsilon was the culmination of
a 42-month journey of invention
and reinvention.
FEBRUARY 2013
system had just been implemented, and
continued working without any glitches. ‘I
will not forget the overwhelming silence
on the floor during the first day of being
live in production as the programme and
business teams, ready with contingency
strategies and plans, awaited the rush
of challenges,’ says André Hoffman,
head: SPF IT Project Management Office.
‘It just did not materialise. What a
fantastic feeling!’
What’s different is the efficiency
of delivery, new architecture, and the
mitigation of risk associated with the old
system; and the relative lack of hiccups is
a testament to the team who managed
the development, implementation and
transition. ‘We are really proud of the
team and what they have achieved for
our company,’ says Annemarie Fick, head
of Sanlam Individual Life New Business
and business sponsor of the project.
‘It was a world-class delivery of a very
complex challenge.’
As the roll-out to SanPort nears
completion, it’s time for a heads-up
regarding self-help online transactions
supported by the Client Contact Centre
(CCC), which has migrated to SanPort.
The new version is more user-friendly,
interactive and efficient, and is intended
to save intermediaries a significant
amount of time. Through it, you’re able to:
Tempo
tables find a
good home
2013 is going to be a great year.
We know this because there’s
been a technology renaissance at
Sanlam Individual Life Segment
Solutions (SILSS).
Late last year, Sanlam
completed a lengthy and complex
upgrade of its IT platform. It was
the culmination of a 42-month
journey of invention, reinvention
and exciting co-operation across
multiple departments in SPF.
The new system, Epsilon, was designed
to renew the Lamda system (Sanlam Life’s
administration platform for most of its
new-generation products) and most of
its supporting systems on the Millennium
platform. It constituted a significant
technical investment for SPF, and at its
peak involved over 220 Sanlammers and
more than 160 people from the contracting
company, many of whom were working
from India.
IT Executive Barry Leo described
it as ‘the biggest challenge/project in
my experience at Sanlam as it entailed
changing the policy admin platform with
approximately one million in-force policies,
in flight’.
Epsilon ‘went live’ at the beginning of
October. If it felt like a non-event to you,
that’s intentional: the system was designed
to retain a familiar look and feel. In fact one
Client Contact Centre user who, because
she was on leave, did not receive any
training at all on the new system, reportedly
started her PC on her return, when the new
Sales consultants have a new
resource to provide guidance
and support: Sandra Naidoo has
been appointed sales consultant
co-ordinator – a new position
that has been created within
SFA.
‘As part of the senior market
strategy it became apparent
that we needed someone to
co-ordinate and focus sales
consultants,’ says Dries Bekker,
head of Senior Market and
Advice Support.
‘As is the case with the market
specialists and their focus
groups, the sales consultants
also primarily support our senior
market advisers and are thus
the drivers of the senior market
strategy. They are key players.’
Sandra will implement a
development plan for sales
consultants, and will assist the
regional managers and business
managers in implementing a
business plan.
In addition, she will assist
with the creation of a retention
strategy and ensure high-level
support for
advisers on the
differentiated
‘I am excited at this
service model.
It’s a key role,
new post and the
and a great new
prospects it offers.
career challenge.
I also look forward to
learning more from
those above and
around me to enable
Sanlam to grow from
strength to strength.’
If you're wondering
what happened to the
comprehensive fund
performance tables that
you saw in Tempo, wonder
no more! The tables will
now be found on SanPort.
A quick and easy link to
the tables will be included
in a digital newsletter
coming your way soon.
•Access benefit statements (LID730)
•Plan enquiries (both Legacy & Stratus)
•Access client tax certificates (IRP5/
IT3(a))
•Access payment contribution certificates
•Request cash numbers (Including bank
details)
•Amend client details (including client
and bank details amendment forms);
and
•Access Sanlam forms.
See above for navigation: six of the
transactions can be found on the ‘Clients’
category with relevant sub-categories,
and there is a new and improved
declaration on the four transactions under
the ‘Portfolio Enquiries’ sub-category. The
seventh transaction can be found on the
’Forms & Downloads’ category.
Another great feature is that when you
make a request to amend client details
on the transaction under the ‘Manage
My Clients’ sub-category, the system
generates an email to the CCC. You will
receive an auto response email to confirm
this.
It’s also highly searchable: to make it
really quick and easy for intermediaries to
find the correct form, we incorporated a
Google-powered search engine. One word
can lead an intermediary to all the forms
linked to this word.
‘We are proud of this new version,’
says Jaco Bothma, Policy Service trainer
at SILLS. ‘It offers client-centric, costeffective and agile service and solutions
to our intermediaries and clients.
‘If you’d like some training to
familiarise yourself with it, we have
developed a ‘CCC Made Easy’ programme
in the form of a two-hour presentation,
which covers the self-help offerings
among other things. It’s a great way
of making client service in your own
environment more effective and efficient.
‘We encourage managers to make use
of this during area meetings but if this
hasn’t happened where you work, speak
to your manager.’
Do you have a SanPort request or suggestion?
Email [email protected]. For help from the call
centre, call 0860 123 1234.
FEBRUARY 2013
SFA board
Sanlam Financial Advisers Leadership
Dries Bekker
Head: SFA Senior
Market & Advice Support
Jaco Coetzee
General manager: SFA
Kallie Erasmus
Senior RGM: Gauteng
Ettienne le Roux
SFA national
support manager
Thuthuka Gumede
RGM: SFA Gauteng
Central West
Ian Torlage
RGM: SFA
Gauteng North
Willem van Zyl
RGM: SFA Northlands
Piet Craven
RGM: SFA KwaZulu-Natal
Patrick King
RGM: SFA Central
Kobus Swart
RGM: SFA Western Cape
Dev Chetty
RGM: SFA Gauteng
South East
Francois Retief
Senior manager:
SFA Legal Services
André Brunette
MS: Platinum
Martin Ferreira
BM: Sanlam E2
Solutions
Reyad Ally
DM: Sanlam ICS
John Potgieter
MS: Sanlam ICS
André Bouwer
BM: Pretoria CBD
Deirdre Lamoela
DM: Pretoria CBD
Thuthuka Gumede
RGM: SFA Gauteng
Central West
Tina Smit
Office manager
Marius van der Ryst Hitjevi Tjiroze
BlueStar consultant BlueStar consultant
Martin Steyn DM:
Constantiakloof FA
JJ Uys MS:
Constantiakloof FA
Patti Leask
DM: Sanlam E2
Solutions
Tinus Redelinghuys Mathabo Khumalo Hennie Venter
BlueStar consultant: BlueStar consultant: BM: Platinum
RGM office
RGM office
Mari Claassen
MS: Sanlam E2
Solutions
Nelson Chauruka
DM: Pretoria CBD
André de Kock
MS: Sanlam E2
Solutions
Gert Bezuidenhout
BM: Sanlam ICS
Benon Ngyende
DM: Pretoria CBD
Beaunette Botha
Quality & risk
consultant
Bryan Shekyls
BM: Hyde Park
Evan Cohen
DM: Hyde Park
Willie Brits
DM: Hyde Park
Willem van Zyl
Linda Jansen
RGM: SFA Northland Office manager
Tania Rautenbach
Recruitment officer
Chris van der Merwe Angeline Mulder
Quality & risk
BlueStar consultant
consultant
Bennie Coetzee
MS: North
North-West
Lebo Nkete
BDM: North NorthWest (Mafikeng)
Willem Barnard
BM: Limpopo
(Polokwane)
Peter Mokele
Recruitment officer
Piet Craven
RGM: SFA KwaZuluNatal
Riaan de Jager
Office manager
Tessa Brennan
Quality & risk
consultant
Sunil Modi
Recruitment officer
Theresa de Quintal
Stef Schulze
BlueStar consultant BM: Professional
Fin Services
Willie Botha
Mannie Kambourakis Vusi Mdlalose
Acting DM: Optimum MS: Professional Fin Acting worksite
specialist
(Newcastle)
Services (Durban)
Trevor Royepenn
DM: Mass
Middle Market
Charmain Shandu
DM: Mass
Middle Market
Denzil Smith
DM: Optimum
(Port Shepstone)
Mags Moodley
UM: Infinite
Fin Solutions
Roshan Soni
DM: Infinite
Fin Services
Devan Francis
Acting BM: Mass
Middle Market
Hannes Scheepers
Wessel van der
BM: Constantiakloof FA Westhuizen DM:
Constantiakloof FA
Zunaid Amod
DM: Hyde Park
Sipho Mncwabe
BM: JHB CBD
Rennal Sookhayi
DM: JHB CBD
Rean van Wyk
BlueStar consultant
Albert Coetsee
BM: Mpumalanga
(Nelspruit)
Coen Engelbrecht
MS: Mpumalanga
Dev Chetty
Marianne Steyn
RGM: SFA South East Office manager
Western-Cape
Dhlozi Makate
DM: Platinum
Marlene Fourie
BlueStar consultant:
RGM office
Gauteng South East
Gary Ebbelaar
Quality & risk
consultant
KwaZulu-Natal
Jeane van Zyl
Office manager
Gauteng Central West
Ian Torlage
RGM: SFA
Gauteng North
Malcolm Berry
MS: FA East Rand
Danelle Esterhuizen
Legal specialist: Senior
Market Support
Sandra Naidoo
National coordinator:
Sales consultants
Kobus Swart
RGM: SFA
Western Cape
Francois Botha
Office manager
Nelene Cronjé
Office manager
Lara Guignet
BM: Southvaal
Edmund April
BlueStar consultant:
Global BlueStar
(Stellenbosch)
Corneel Pelser
MS: Stellenbosch
Temba Qukula
BM: Bellville
Brent Abrahamse
DM: Bellville
Yanus Singh
MS: Bellville
Mariëtte van Dyk
BlueStar consultant
Sasha Smith
Quality & risk
consultant
Wessel Oosthuizen
BM: FA East Rand
Nhlanhla Ngonyama
DM: Mass
Middle Market
Bennie Havenga
DM: FA East Rand
Tashlin Naidoo
DM: FA East Rand
Detlev Specht
DM: FA East Rand
Mano Appasamy
DM: FA Eastrand
Karl Parks
BM: Bellville
André van Deventer
AM: Optimum
Fin Solutions
Chris Knoesen
MS: Southvaal
André Barnard
MS: Southvaal
Nowlan Isaacs
DM: FA East Rand
Kreesen Pillay
DM: FA Eastrand
Coenie Spamer
B * Cons Bellville
Abbreviations: SFA = Sanlam Financial Advisers
RGM = regional general manager BM = business manager
DM = development manager RO = recruitment officer
MS = market specialist Q&RC = quality & risk consultant
BDM = business development manager AM = area manager
Louis van der Vyver
AM: Worcester
Eugene Grobler
WS Bellville
Victor Hougaard
BDM: Worcester
Frans Lintvelt
AM Upington
Johan Möller
AM: Malmesbury
Christelle Senekal
Recruitment officer
Ncumisa Madinda
DM: Bellville
Robert Whitecross
Manager: SFA Short-term
Insurance national
Razak Rahman
Quality & risk
consultant
Charl Carlse
DM: Bellville
Wilhelm Jonck
BM: Bellville
Tapfuma Chigwada
DM: Bellville
Anton van Niekerk
AM Kimberley
Hanlu Kotzé
WS: Bellville
JP du Toit
Manager: SFA Short-term
Insurance (South)
Gert Roux
BM: Global BlueStar
(Paarl)
Mariëtta Marx
DM: Global BlueStar
(Stellenbosch)
Clive van den Heever David van Schoor
DM: Bellville
DM: Bellville
Jacques Malan
MS: Bellville
Hanlie Wethmar
RWS Bellville
Erna Rossouw
BDM: Bellville
Hennie Mouton
DM: Paarl
Manie Spamer
BDM: Vredenburg
Central
Northland
Gauteng North
Johan Minnie National
support manager:
BlueStar businesses
George Khutswane
DM: North
North-West
(Rustenburg/Brits)
Gerhard Hartman
BDM: Limpopo
(Polokwane)
Jonathan Mohale
DM: Limpopo
Calvin Matjijiu
DM: Limpopo
Moses Manana
DM: Mpumalanga
(Nelspruit)
Wouter Badenhorst Drinie Posthuma
BM: North West
BDM: North West
(Klerksdorp)
(Klerksdorp/
PotchefstroDM)
Abrie Cronjé
BDM: Mpumalanga
(Witbank)
Leon Krüger
MS: North West
(North West)
Otto Schulze
BM: North
North-West
(Rustenburg)
Patrick King
RGM: SFA Central
Frikkie von Caues
Office manager
Adrian Accone
BlueStar consultant
Carmel Francis
Quality & risk
consultant
Yolanda Horne
Recruitment officer
Jan Muller
BM: South-Eastern
Cape
Hugo Erasmus
DM: South-Eastern
Cape
Mncedisi Wambi
DM: South-Eastern
Cape
Chris Grimbeek
MS: South-Eastern
Cape
Kobus Cronjé
BM: Southern Cape
Roger Meyer
DM: Southern Cape
John GrootboDM
DM: George
Koos du Plessis
MS: Southern Cape
Greg Owen
BM: East London
Robert Taylor
DM: East London
Bouwer du Plessis
MS: East London
Bongiwe SidumoJaggers
DM: Queenstown
Carel ThDMas
BM: Bloemfontein
Bennie Crouse
Market specialist:
Bloemfontein
Johannes Najoe
DM: Bloemfontein
Shadrack Lenong
DM: WelkDM
SPF INCENTIVES
December Eagles
fuel
Motivation
We all like a pat on the
back for work well done.
It doesn’t matter what
you do or who you are,
recognition inspires us to
reach new heights. That’s
why SPF's incentives
and competitions for its
people are so valuable.
Here’s a handy round-up
of what’s available.
FEBRUARY 2013
Eagle Awards
SFA and BD
incentives
Komkamp Conventions
These annual production competitions
for advisers, broker consultants and
management staff from Sanlam Financial
Advisers (SFA) and Broker Distribution (BD)
recognise the cream of the crop.
Qualifiers (and their partners!) are invited
on an international trip that takes place in
the next year. The 2012 winners are going to
Istanbul (SFA) and Amsterdam (BD).
SFA has approximately 60 winners, and
BD has 26 winners.
This is a long-term
awards platform for advisers
and certain management
positions within SFA.
Participants reach certain
levels throughout their careers
depending on their sales volume.
The nine current levels are:
Membership, Iron Eagle, Bronze
Eagle, Silver Eagle, Gold Eagle,
Adelaar, 1-star Adelaar, 2-star
Adelaar and 3-star Adelaar.
When a level is reached,
the adviser receives a trophy
and certificate.
Receivers of Gold Eagles
or higher levels are invited to
a special gala function held
annually in Cape Town, where
they receive their awards.
André Blignaut, principal of
Blignaut BlueStar and Sanlam’s top adviser
‘It was wonderful to achieve top honours in the
KOMKAMP CONVENTION over the past eight years.
I am deeply grateful for the privilege to go on
unforgettable and enriching overseas trips year after
year. The support and motivation we receive from
Sanlam make our job so much easier.
‘But it’s not all about winning. It’s about achieving
success. The concomitant achievements are a bonus.
‘I believe discipline and passion are the recipe for
getting to the top. If you are passionate, work in a
disciplined way and put your clients first, you must be
successful.
'I am privileged to work with a wonderful,
competent team and to have a wife who
supports me. I am very blessed and thankful
for His mercy. It is undeserved.’
The first Management 1-Star Adelaar, two Adelaars, four Gold
Eagles and eight Silver Eagles were achieved by Sanlam’s
advisers and management in December! Martin Steyn,
development manager of Constantiakloof FA, became the first
manager to qualify for the prestigious 1-Star Adelaar. Cecilia
Rossouw, senior financial planner of South Vaal, and Gert
Roux, business manager of Global BlueStar, qualified for the
Adelaar award. Here are all the December qualifiers …
ADVISERS
ADELAAR
Cecilia Rossouw South Vaal
GOLD
Massi Smit West Coast
SILVER Johan Agenbag Overberg
Olivia Nel Peninsula Fin Solutions
Marina Visser Global BlueStar
André Calitz Bloemfontein
Johan Stander FA Windhoek
Larry Sachs Hyde Park FA
BRONZE André du Plessis Mpumalanga
Johan van der Ahee Bloemfontein
Jacques Pretorius Bloemfontein
IRON Daniel Kruger Atlantic PBS
Elmien Briel Infinite Fin Solutions
Sandile Sithole Professional Fin Services
MANAGEMENT
1-STAR ADELAAR Martin Steyn Gauteng Central West
ADELAAR Gert Roux Western Cape
GOLD Hannes Scheepers Gauteng Central West
Willem Barnard Northland
Gert Bezuidenhout Gauteng North
SILVER Leon Kruger Northland
Rean van Wyk Northland
BRONZE
Patrick King Martin Ferreira Mannie Kambourakis Eugene Grobler Central Region
Gauteng North
KwaZulu-Natal
Western Cape
IRON
Mari Claassen Bouwer du Plessis Corneel Pelser André de Kock Coenraad Spamer Gauteng North
Central Region
Western Cape
Gauteng North
Western Cape
FEBRUARY 2013
SPF INCENTIVES
League competition
•This competition is for branches. Points
are earned based on production and
quality of business.
•The branch performance leagues are
aimed at creating a sense of competition
among the sales office countrywide.
BlueStar
Business of the Year
All qualifying BlueStar businesses within SFA
take part in this competition that measures
sales volumes, growth and other business
criteria over 12 months, from September to
August of the following year.
Businesses are divided into four groups
depending on their size. The winning
business in each group qualifies as a finalist.
Finalists are then audited by a special team
that rates each business.
The overall winner is announced at the
annual BlueStar business conference in
September/October. It will take place in
Cape Town this year.
The winner receives a trophy and cash
prize of R67 500. Finalists receive trophies
and cash prizes of R15 000 each.
Kickstart competitions:
Both SFA and BD have Kickstart
competitions from February to May to
ensure that Distribution has a good launch
to the year.
SFA is having an 'Amazing race' themed
competition and BD a 'Fired up' braaithemed competition.
Incentives for
Sanlam Sky
Solutions
AGENCY DISTRIBUTION
Club Izikhulu
Koos Malan, principal of JBM
BlueStar in Pretoria
‘It was fantastic and a great honour
and privilege to be named Sanlam’s
BLUESTAR BUSINESS OF THE
YEAR for 2012. It proves that with
perseverance, focus, discipline and
dedication, results are a matter
of course.
‘I am a follower of Lewis
Pugh, one of the world’s leading
motivational speakers, who said:
"Each one of us, however ordinary
we may appear, is capable of
extraordinary acts. When you
believe in yourself, you can achieve
the impossible."
‘JBM BlueStar must definitely
grow and expand to ensure a
sustainable business. We also
intend appointing more specialists
for certain sections of the business
in order to provide clients with the
best and latest information at all
times. We want to grow, but not at
the expense of quality.’
•Club Izikhulu (meaning ‘very important
people’) is the pinnacle recognition
programme within Agency Distribution
in Sanlam Sky Solutions.
•This prestigious competition recognises
the top representatives, sales managers,
branch managers and support staff based
on the previous year’s sales achievements.
•Certain qualification criteria are set that
take into account both new business
production, as well as the quality of the
new business written and the persistency
of the business written.
•An incentive trip takes place each year to
reward and recognise top achievers (VIPs).
The 2011 achievers enjoyed a star-studded
cruise to the Portuguese Islands off the
coast of Mozambique. The 2012 winners
can look forward to a glamourous event in
Cape Town at the end of February.
•The top 50 representatives qualify for
Club Izikhulu.
•Between 90 and 100 invitations are
extended to attend Club Izikhulu,
including top management and
support staff achievers.
Amakhwezi incentive
•This quarterly incentive is for
representatives only.
•They have to achieve certain new business
production, quality and client retention
targets to qualify.
•Qualifiers receive vouchers as prizes.
FEBRUARY 2013
Club 1000 and Club
250
•Branches that write 1 000 new business
policies or more in any production
month are recognised for this highperformance achievement.
•They receive a voucher of R1 000 to be
spent on a staff function, together with
a framed certificate.
•Sales managers whose teams write
more than 250 new business policies
in a production month receive a voucher
to the value of R250 in recognition
of delivering on the channel’s high
performance standards.
BROKER DIVISION
Grand Masters Tour
Competition
•This competition is for broker consultants
(BCs) and regional managers (RMs).
•BCs compete in two categories depending
on their average monthly policy count:
Premier Category and Challenger Category.
•In the Premier Category all BCs who achieve
the minimum criteria will qualify.
•In the Challenger Category two BCs will
qualify, subject to certain minimum criteria.
•One RM will qualify, subject to certain
minimum criteria.
•Qualifiers are invited on an incentive trip.
•The head of Broker Division may invite
a selected number of administrative
employees on the incentive trip.
Agency Distribution will also run other
competitions during the year at a regional
or national level to promote a high
performance and client-centric culture
within the channel.
Annual Knights’
Conference
•This conference rewards BCs, RMs and
administrative teams for achieving
performance excellence based on
qualifying criteria.
•Three awards categories are available for BCs:
Top Volume Producer, Newcomer of the Year
and Most Improved Performance.
•The Consultant of the Year award will be
presented to the BC who best displayed
Broker Division’s core drivers and values.
•The RM of the Year will be awarded, based on
certain criteria.
Broker Division Service
Excellence Awards
•This recognition programme rewards
the following:
•Regional Broker Administrator Champions
•Retention Administrator Champion
•Broker Administration
Management Champion
•Broker Support Administrator Champion
•Operational Support Champion
•Thought Leadership Champion
•Year-end winners in each category will be
recognised at the Annual Knights’ Broker
Division Conference.
Grand Masters Tour
Competition for Sanlamaffiliated intermediaries
Francis Potgieter, field administrator:
Port Elizabeth Sales Office, Sanlam Sky Solutions
‘When I got the telephone call from our regional manager
to tell me that I had won a trip on a ship for the 2011 CLUB
IZIKHULU competition, I didn't stop smiling for two days!
‘It definitely made me realise that you will be rewarded if
you work hard. I really enjoy my job and to be rewarded for
doing something that you enjoy makes it extra special. It felt
wonderful to be taken on the trip and to listen and learn from
other people. I met people from different walks of life and it
was an eye-opener to listen to some of their life stories.
‘The awards evening was very special because we were
recognised in front of our peers. I was dumbfounded to hear all
the good things Gavin (Downard) said about me. That was all
the incentive I needed to make 2012 a very special year. All the
people I spoke to who went on the trip were highly motivated
to work extra hard to be able to go on the next trip.’
•This programme rewards Sanlam-affiliated
intermediaries (SAIs) for exceptional
productivity and business quality in a
production year.
•SAIs compete in three categories: SAI of the
Year, Newcomer/Rookie of the Year, and Most
Improved Performance.
•Certain qualification criteria are set that
measure productivity and quality of business.
•Qualifiers are invited on an incentive trip.
FEBRUARY 2013
SPF INCENTIVES
Activator Awards
Hanneke Loots, operational manager:
Stratus and Legacy Call Centres, SPF
Client Contact Centre
‘Thursday, 22 March 2012, is engrained
in my memory: I received the
ACTIVATOR CEO AWARD. I'm so
grateful for this special recognition.
It made me feel valuable.
‘My heart was always a Sanlam
blue, then the intensity increased! It
saluted my team for the magnificent
way in which they support the
strategy of our business unit with
their compassion for client service,
our people and their ‘can-do’ attitude.
‘My leadership was complimented
and I am motivated to grow more.
One award does not make a person, it
is the character that builds up to that
moment, and my family, colleagues
and team helped build mine.’ INNOVATOR WINNERS –
November 2012
Yvette Wolmarans
Gerda van Niekerk
In this fast-paced marketplace, innovation
keeps a great company’s foot on the
accelerator pedal. Inside Sanlam Personal
Finance would like to wave a chequered
flag at the following Innovator winners of
November 2012.
Yvette Wolmarans from Broker Distribution
with the idea ‘Add to Basket on SanPort’
submitted on 18 September 2012 under the
Distribution category.
'This idea and the resulting functionality
IDEA
‘Client service efficiency’
‘Brand@work mug for new employees’
‘Stop-order codes’
‘Debit order process’
‘Returning documents to Planholder’
‘Search button on Case @ branch’
Incentives for
Sanlam Sky
Solutions
Incentives for
SPF staff
FEBRUARY 2013
has become one of the main selling points for
SanPort, and have our users raving about the
new and useful capability. This was a stroke of
genius from Yvette!'
– Stephanie Bezuidenhout evaluator
of the Activator Awards.
Gerda van Niekerk from the SPF Client
Contact Centre with the idea ‘Doing
away with datafix by using “override max
encashment” button’ submitted on 27
November 2012 under the SPF Client Contact
Centre category.
NAME AND DIVISION
Colleen Syster, Strategic Business Development: Sanlam
Johanelle Wedderspoon, SPF Client Contact Centre
Henriette Weber, Distribution Operations
Hester Myburgh, SPF Client Contact Centre
Tienkie Swart, Distribution Operations
Rialda van der Westhuizen, Distribution Operations
•The SPF Activator Awards are fully aligned with
Sanlam's values. Employees are recognised for
the desired behaviours depicted in the values,
as well as for their contribution to the strategic
objectives of SPF.
•Different levels of recognition are encapsulated in
one programme, such as:
– Instant peer and management recognition
through the Inspirer Award;
– Three nomination programmes, namely
the Activator CEO Award, Nurturer and
Energizer Awards;
– An ideas bank, the Innovator Award, for
submitting innovative ideas to give credence to
the SPF slogan ‘We’re thinking ahead. Are you?’
Amawina rewards
•This is a quarterly recognition programme
allowing administrative staff within Sanlam
Sky Solutions to nominate their peers
and acknowledge their contribution to
the organisation in the Client-centricity,
Leadership and Innovation categories
•A quarterly winner and runner-up are
announced in each category.
•At the end of the year one overall winner
per category will be announced. These
winners are then nominated for the
Activator CEO Award.
•Quarterly winners receive R3 000 each,
quarterly runners-up R1 000 each and overall
winners receive R20 000 each per category.
Activator CEO Award
•The Activator CEO Award is the most
prestigious award and highest form of recognition
in SPF. It pays tribute to individuals who
have made exceptional contributions to grow
shareholder value through innovation
and superior performance.
•The aim is to identify individuals who have
made a meaningful contribution to SPF's
strategic objectives:
•Three winners are selected annually.
•They receive R60 000 each.
3 4
Energizer Award
•This award was developed around the core value
‘Lead with courage’.
•It pays tribute to leaders who show competence
in leading with courage.
•Winners receive R30 000 each.
Innovator Award
•This award is designed around the core value
‘Grow shareholder value through innovation’.
•It encourages and recognises staff for
innovative business ideas that support
the SPF strategic objective.
•The prize value is R30 000.
‘The experience of winning the Leadership category
of the AMAWINA REWARDS in 2012 was totally
humbling. It wouldn’t be possible to accomplish this
without a great team – Team Cuba. I also learned
so much at the business management programme I
attended in 2011.
‘Being a leader is not easy as we have an impact
on people every day by what we do and say ...
therefore it was an honour to be acknowledged by
colleagues. I am grateful for that.
‘This entire experience was inspiring and definitely
a highlight in my career and personal life.’
Get to know three recently appointed Adelaars a bit better
What does the Adelaar
award mean to you? Is it
a dream come true?
Nurturer Award
•This award was developed around two of
Sanlam’s core values, ‘Care because we respect’
and ‘Serve with pride’.
•As client-centricity is one of SPF’s key objectives,
this award recognises and rewards employees
who show passion for clients
and strive to meet their expectations,
both internally and externally.
•Winners receive R30 000 each.
Iwan Dirksen, back office support manager:
Sanlam Sky Solutions
on
IMAGES GARY WATERS / GETTY IMAGES/ GALLO IMAGES , THINKSTOCK AND SUPPLIED
The Activator
CEO Awards
ceremony
takes place
on 9 April.
Attie Roeloffze,
senior financial
planner: Sanlam ICS
What is the most important
lesson you’ve learnt along
the way?
Where to from here?
What does the future hold?
The Adelaar has been my
career-long objective.
Sanlam’s Adelaars have
always been examples of
dedication and professionalism worth following.
Confidentiality regarding your clients’
information and reliability distinguish
you in the insurance industry. I also
realised early in my career that you
must pursue your own goals and never
compete with your colleagues.
Sanlam offers me the tools to find
complete fulfilment in my job.
Sanlam’s innovative and quality
products make marketing much
easier. In my 27 years of marketing
no client has ever declined my offer
in favour of a competitor’s product..
My retirement is becoming a
greater reality. I focus on my
clients’ retirement provision and
am increasingly adjusting my
practice accordingly.
It is a great honour to me.
Be honest, be available and stay humble.
Sanlam has given me the opportunity,
support and recognision.
This is a journey, not a destination
– I will work till I drop down.
It is not a dream that has
come true; it just happened. But it means a lot to
me, for now the people out
there can see I do my work
right and am good at it.
That every adviser needs a
back office in the BlueStar
concept.
You don’t have to sell the Sanlam
brand to people – owing to its success
and reliability it sells itself.
I will continue working hard
every day.
Toss du Toit, financial
adviser: FA Windhoek
Cecilia Rossouw,
senior financial
planner: South Vaal
What role did Sanlam play
in your success?
FEBRUARY 2013
à
IN
IN
THE
NEWS
SANLAM AT A GLANCE
Sanlam iTrade
THE
NEWS Fantasy League
Sanlam iTrade has launched an exciting new
competition on Facebook. It’s absolutely
unique, and here is how it works:
•90 shares will be posted on Sanlam iTrade
Facebook page.
•Fans of the Sanlam Facebook page will be
asked to choose 20 of these 90 shares.
•R1 million will then be invested in these
shares for nine months (from March to
November 2013).
•The portfolio will be managed by voting
shares on and off the portfolio using the
Like/Dislike functions.
•There’ll be monthly competitions to
predict the performance of a share.
•At the end of the nine months, the actual
profit of the portfolio will be shared
among the people who make the three
closest predictions of the final value.
FIRST FOR US
FEBRUARY 2013
Fans of the Facebook ‘Fantasy League’ page
will also be able to access information, charts
and research reports about the shares via
Sanlam iTrade.
‘The monthly competitions will keep interest
going,’ says Gerhard Lampen, Head:
Sanlam iTrade. ‘I don’t think it has been
done before, and the objective is to make
it a learning experience, so we will interact
a lot and educate.’
Lizé Lambrechts, SPF chief executive
A full list of the iTrade ‘Fantasy League’
competition rules is available at
www.facebook.com/SanlamiTrade
The competition is open to Sanlam
staff (but not iTrade staff and
their direct family).
Good luck!
EPSILON,
Sanlam’s new online platform
constitutes a significant technical
investment for SPF. At the peak of
developing the system it involved over
220 Sanlammers and more than 160
people from the contracting
company, many working
from India. See more on
page 14.
UPWARDLY MOBILE
LUCKY
SHIVAMBU
The Client Contact
Centre is a vital interface
between Sanlam and its
clients. In 2012 the CCC
received an average of...
7 000calls per day,
A TV ad, specifically aimed
at entry-level and lower
growth market segments, is
launching in February 2013.
‘As long as we
continue to put
Sanlam’s interest
and our clients’
interests first, we
will continue to
be successful.’
18%
4 200 pieces of correspondence, 4 500 e-mails,
1 600 walk-in clients at our outside offices.
17 300
interactions per day with clients.
IMAGES SUPPLIED
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Some interesting facts and quotes to inspire you to reach higher, dream bigger and grow more…
This was how
much SPF’s
contribution
to Sanlam’s
net financial
services result
increased yearon-year from
2010 to 2011.
Congratulations to Lucky Shivambu, who has been
appointed Head of Client Services at Sanlam Sky Solutions.
“I am very excited about the opportunity I
have been given and I appreciate the support
that I am receiving from all my colleagues.
The biggest challenge that I see for us as a
team would be to maintain client satisfaction
whilst the expectation keeps on changing.”
Got any news to share? Your input to Inside Sanlam Personal
Finance is most welcome so let us know what you think by
emailing [email protected]
FEBRUARY 2013
TO THE MARKET
2013
How SPF will
approach
the market in
As Head: SPF Marketing, Zelda Knoetze’s job is to ensure the development of
marketing strategies that prepare the market and offer outstanding support to
the Distribution team in a highly competitive market. Here’s what 2013 holds.
Q
A
How would you summarise
the SPF marketing division’s
strategy for the year ahead?
rs
g competito
Depositionin
itioning
Product pos
entials
red
Investment c
FEBRUARY 2013
Essentially, we’re aligned
with Group Marketing. We’re
focusing on:
•Depositioning competitors in
the entry-level market (ELM)
space, which is basically
about being overt about our
many strengths relative to our
competitors. Sanlam is solid,
and has a long and valuable
legacy. It can be trusted to
deliver. In the ELM space
this constitutes a valuable
guarantee.
•Product positioning. This is
quite a big change in strategy,
and one that is meant to
support our Distribution team
more directly. Our approach
to advertising will be to
position our products that
satisfy specific needs more
strongly in the media. We want
to make sure our clients know
about them.
•Building investment
credentials for Sanlam. We’re
a multi-faceted company. Our
investment skill and expertise
has been hidden under a
bushel. It’s one of Marketing’s
challenges to make sure
people know that we’re also an
investment company; and we
need to make sure the door is
seen to be open to the smaller
investors or the person on the
street, who might otherwise be
intimidated.
How will Treating Customers
Fairly (TCF) affect the SPF
marketing campaign this year?
TCF doesn’t change the
fundamental principles that
guide the way we do business.
But it does focus our thinking
on the practice of clear and
specific market segmentation
and on making sure we talk
to our clients in a language
that is meaningful to them,
and at a time and place that is
convenient for them. You’ll see
these facets becoming an ever
more conscious part of our
strategy in 2013.
(Editor’s note: see article on TCF
on page 12).
How does SPF segment
its target market?
We reviewed and revised
our approach to market
segmentation in 2011, and last
year we put a lot of effort into
understanding the implications.
The segments we have now
defined are:
•Entry-level market – people
with a personal income of
up to R10 000 a month.
•Growth market – individuals
whose personal income ranges
between R10 000 and
R40 000 a month.
•Professionals market –
individuals with a professional
qualification or four-year
tertiary qualification.
•Affluent market – those with
a personal income of R40 000
a month or more.
•Business market – focusing
on the needs of owners of
VAT-registered businesses
with an annual turnover in
excess of R1m.
What are SPF’s plans for
the entry-level market?
This year we have committed
ourselves to developing client
value propositions that will
assist product development,
help identify focus sub-segments,
as well as assist in focusing
marketing activity more sharply.
Our overarching objective is to
build and entrench Sanlam as
a relevant brand in this market
segment.
We’ll be leveraging the
brilliant Takalani Sesame
sponsorship to open doors for
more interaction with people
in the ELM market, and to
provide more channels through
which they may experience
our brand. Transit media (the
Sanlam Takalani-branded taxis)
will continue to play a key
role in our media mix. We are
very fortunate in that Group
Marketing will launch a TV ad
in February that is specifically
aimed at the entry-level and
lower-growth market segments.
This is a first for us!
How will SPF be approaching
the growth market?
The subconscious way in which
people evaluate and consider
brands are:
1 awareness of a brand, then
2 an appreciation of how
that brand is relevant to me,
followed by
3 an evaluation of the brand’s performance relative to other
brands, and then
4 appreciation of the
advantage that the brand
potentially offers over other
brands.
5 The final stage represents
bonding – which is where a
person becomes committed
to a brand.
In the growth market sector,
as in the ELM, we see the first
two stages – awareness and
relevance – as being the stages
where effective marketing is
most needed.
Our overarching objective
remains the same: to create
awareness and demonstrate
relevance. But we’ll also very
consciously start working on
consideration (performance
and advantage), which is
where people make decisions
with regard to their next
purchase. We’ll leverage a
number of sponsorships
including the Takalani Sesame
sponsorship and the Sanlam
Cancer Challenge, and we’ll also
focus on developing support
material for worksite marketing
as an important way to reach
specific audiences.
FEBRUARY 2013
TO THE MARKET
This is an important and
lucrative segment for us.
Here, too, we stick to the
same basic principles of good
business: we aim to create
awareness, demonstrate
relevance, and work closely
with Group to build Sanlam’s
investment credentials. This is a
heavily contested market, and
we therefore offer a great deal
of intermediary support through
solutions such as Cobalt
Solutions for Professionals and
continuous enhancements to
this suite of solutions. This year
we’re bringing new energy to
what we consider to be the
under-serviced segment of
young professionals.
And the affluent
market segment?
This sector is serviced by
Glacier (or, when personal
income is upwards of R80 000
a month, by Sanlam Private
26 Personal Finance
FEBRUARY 2013
What does SPF mean by the
business market and how
does it relate to the other
market segments?
For Sanlam, entrepreneurial
activity is critical to the South
African economy, and we
therefore offer business owners
a comprehensive solution set
to service their needs. Our
commitment to playing an
active part in the South African
economy is also one of the
From home movies
to office movies
reasons why we co-sponsor
the highly successful annual
Entrepreneur of the Year
competition with Business
Partners. This sponsorship is the
flagship and most significant
part of our marketing to the
business community, although
we also collaborate with other
marketing divisions within
Sanlam to ensure that we take
a comprehensive Sanlam Group
solutions and service offering to
the business market.
When a change of PAs affected Paul de Kock’s ability to execute his primary functions as a
BlueStar financial adviser, he had to think of an innovative solution to the problem.
W
hether you’re running a financial
advisery service in a fast-paced urban
centre or in a seemingly quiet rural
town, one business principle remains constant: time
management. And one enterprising Sanlam BlueStar
financial adviser had a simple solution to streamlining
his use of valuable time: he made a movie.
Paul de Kock runs a BlueStar financial advisery
service called Carpe Diem BlueStar in Volksrust.
He’s been with Sanlam for 12 years and, being
a small business operator, he needed to remain
focused to ensure he lived up to Sanlam’s offer
of a ‘full spectrum of financial services and
expert advice’.
Paul delegates work where possible, so a
competent personal assistant is crucial to his
operation — but there are not many who have the
specialised financial skills out in the rural areas. So
when Paul’s PA of three years announced she was
leaving because her husband had been transferred,
he had to find a replacement urgently. He found
that time spent concentrating on the core business
was now being spent training his new PA to understand the basics of insurance and how his office
system functioned. This was essential training but it
took him away from doing his job.
Finally, what specific support
initiatives can Distribution look
forward to in 2013?
We’ll be rolling out productspecific advertising towards
the end of the first quarter
and we’re also planning new
product launches: a new RA
product and a new risk product
are in the pipeline.
Our ongoing focus on
developing value propositions
will also directly support the
Distribution team. For instance,
our Market Intelligence experts
tell us that, in the growth
segment, people sometimes
are so desperate for a cash
injection that they resign from
their jobs to get their hands on
their retirement savings.
The question is: how does
Sanlam respond? How can
we help these people to avoid
critically eroding the value of
their savings?
This questioning process
involves all of us across all the
disciplines in SPF, and motivates
us to find new access points for
worksite marketing and other
points of contact.
The contact between our
intermediaries and our clients
is always most critical, and that
is why we will always focus
our efforts on supporting our
intermediaries with the best
products at the right prices,
and an excellent track record
of paying legitimate claims. But
this year, we intend to reinforce
the message that Sanlam is a
partner for life.
‘My production dropped because I was spending
time training people and I now had to do certain
jobs that I had delegated in the past.’
It wasn’t too much of a concern, however, because
a year down the line, his original PA returned to
Volksrust, and stepped back into her old position
aftre her replacement resigned. As Paul says, he had
‘all that know-how back’.
It didn’t last. Within a year the PA’s husband was
transferred again and she resigned again. This time
Paul had an answer. ‘I said to her, please, let’s make
a video where we can run through all this rigmarole
of running the office. I would explain the basics of
insurance, and she’d describe how the office works,
its systems, filing and all that.’ He wanted to capture
the know-how and pass it on.
The videos run to roughly five hours’ worth of
training. Paul’s previous business had been a radio
and TV shop selling video cameras and TV sets. ‘I’d
made a few home videos of festivals and the like,’
he said, so he didn’t need to hire a cameraman or
editor. Both his existing PAs have used it for training
and both say it has made a huge difference to their
understanding of the business. And it leaves Paul
free to do his work.
More about Paul
IMAGES STEVE’S PHOTOGRAPHIC AND SUPPLIED
What about the
professionals market?
Investments). Here our focus
is to increase awareness of
the comprehensive financial
services range offered to
investors, and to alert potential
clients to Glacier’s famously
excellent client service.
In the past, we focused
our marketing efforts on
intermediaries, but in 2013,
we’re supporting intermediaries
by focusing certain marketing
messages and activities on
clients. For instance, we’ll be
talking to them about our value
proposition by emphasising our
diverse offering, which includes
fiduciary and trust services,
alongside asset protection,
risk cover and, naturally,
investments.
Still, the Glacier business
model remains intermediated
and it is of the utmost
importance to ensure that
we deliver world-class
service and efficiencies in our
intermediaries’ practice. In 2013,
there will be a strong focus on
helping intermediaries build
the capital growth of their
businesses by diversifying
the solutions they offer, and
partnering with financial
intermediaries to effectively
prepare their own businesses
for legislative changes.
Glacier will also focus
on delivering the very best
in world-class solutions to
meet our clients’ needs,
such as Navigate by Glacier
International, a simpler, more
cost-effective and guided
approach to investing offshore.
IMAGES SUPPLIED
One difference is that we’ll
do product positioning very
actively in the growth market
segment. This is directly
linked to the Group Marketing
strategy. Our intention is not
to generate direct leads but
more importantly to position
our intermediaries and the
importance of advice through
our marketing communication.
The TV ad that Group Marketing
will launch in February will also
promote awareness, relevance
and consideration (product
positioning). Consumer
education is also a big need
and we are looking at ways
in which to address it.
The upper growth market will
benefit from the fact that we’ll
be working closely with Group
Marketing this year to help build
Sanlam’s investment credentials
– with great products such as
Sanlam Liquid, Cumulus and new
developments in the RA space.
MY STORY
Outside of work, Paul’s labour of love is a silver 1949
Citroën that runs as smoothly as his office. ‘It’s the
same age as I am,’ said Paul. ‘The difference is that the
Citroën went through a facelift.’ Recently, two of his
Cobalt clients asked if they could use the car as their
marriage vehicle and Paul readily obliged. Besides he
has the time now to indulge a bit more in keeping the
Citroën in fine shape.
FEBRUARY 2013
C A S E S T U DY
It pays to
A remarkable woman and her team from the
arid area of Mariental in Namibia have set a new
standard for The Sanlam Cancer Challenge.
play your part
M
ariental is a small town with a huge heart.
Originally called Zara-gaebia (dusty) – no
surprise as it sits on the hot, dry, redcoated edge of the Kalahari Desert - it’s a place
to stop over, refuel, grab a bite before you head
onwards. But it’s also where an astonishing R53
000 was raised for the Sanlam Cancer Challenge,
putting it at the top of the donations leaderboard
for 2012. Close to 800 clubs participate annually
throughout South Africa and Namibia, but it was
the event at Mariental Golf Club that scored top
fundraising honours.
The dynamo behind this
is financial adviser Betsie
du Toit of Kairos BlueStar
Financial Services. She,
however, refuses to take the
credit, saying it was a team
effort with colleagues Mona
Klose, Christina Kotze and
Crisna van Lill.
‘We organised the Cancer Challenge Golf
Day in Mariental and pulled the whole town in,’
explains Betsie, who has been with Sanlam for
12 years, eight in administration and four as a
financial adviser.
It has become a tradition, over 15 years, to have
a snoek-en-patat (snoek and sweet potato) braai
on the Golf Day – even though the salty smell of
the sea is a long way away. This year they just
went bigger…
‘We asked everyone we knew to ask everyone
they knew to get involved,’ says Betsie. All local
businesses were asked for donations for prizes
and for the auction.
The Witbooi Vlei Farmers Union jumped in and
hunting packages, meat and game were provided
for prizes.
Suppliers also advertised on goods – all of
which boosted the fund-raising effort, as did
tickets for the braai.
For Betsie it’s all about community
involvement. Mariental is part of her and she
is part of Mariental. If something happens in
the town or surrounding area she is there, be it
a livestock auction or an angling event at the
Hardap Dam on the nearby Fish River.
The Cancer Challenge
is particularly close to her
heart as she knows a lot of
people who have had cancer,
and some who have died.
When the town is as small as
Mariental, it affects everyone.
Wessel Kotzé, based in
Windhoek, head of Training ay
Sanlam in Namibia and the Cancer Golf Challenge
coordinator there, believes commitment was
behind the success of the Mariental Golf Day.
‘They invited the whole town. It’s not that big a
place but because everyone was involved it really
worked. It was a tremendous effort and it also
shows that Namibian hearts are open.
‘This is excellent for the community. It shows
that if you are committed to a project you can
lift the bar higher every year. Betsie has set new
standards forever!
‘And a direct spinoff for Sanlam is some of the
proceeds of the Cancer Association have been
invested with Sanlam to generate more funds.’
Betsie du Toit of Kairos BlueStar Financial Services
in Mariental, Namibia isn’t afraid to roll up her
sleeves and get involved in her community. It’s that
commitment – and high profile – that also makes
her an extremely successful financial adviser.
‘You must be a part of your community,’ says Betsie.
‘If clients see that you are involved in their interests,
whether it’s an auction or farming matters,
then they’ll support you. The platteland client
is very loyal.
‘That’s why it’s important to be involved. People
see that you’re not just taking but also contributing.
There’s a lot of farming activity around here, from
lucerne and mielies to livestock farming with sheep.
If there’s an event the whole dorp is there!’
While Betsie is loathe to pinpoint any direct
Sanlam sales that may be spinoffs from her
involvement, she says it all adds up. ‘Because we
have been in Mariental for such a long time, you
can’t really say which new business was a result
of something like the Golf Day. Everything simply
plays its part.’
Sanlam and CANSA have partnered in the Sanlam
Cancer Challenge since 1993 to raise funds and
awareness for the fight against cancer.
FEBRUARY 2013
R53 000
raised in Mariental
R30 million
has been raised so far
R3.2 million
was raised in 2012
IMAGE CHRISTINE SKOWSKI
‘You must be
involved in your
community. You
must be part of it.’
SANLAM CANCER
CHALLENGE BY NUMBERS
à
The gift of giving –
how it can work
for business
788
club competitions
were hosted
34 750
golfers took
part in 2012
4 000
leads for Sanlam
intermediaries were
generated at events
FEBRUARY 2013
THE
MONTH
IN
PICTURES
THE
MONTH
IN
PICTURES
These ‘social butterflies’ were out and about this year – some
stepped out in fine feathers to pick up an award or two, while
others donned sports gear in support of a worthy cause. Share
your pictures with us. Email [email protected]
5
4 Freek Clifford, financial adviser: Limpopo SFA, and
his wife, Elizna, became the proud parents of triplets
on 29 November 2012. Frederich, Suzelle and Michelle
are the first triplets to be born in Messina.
5 Jason Froneman, overall winner of the 2012 Glacier
Junior Series, receiving the trophy from Anton Raath,
CEO of Glacier by Sanlam.
6 Dr Johan Coetzee, Prof Philippe Burger, Dr Jesse
de Beer (Department of Economics UFS), Rocco
Carr (Glacier) and Piet du Plessis (Regional General
Manager Sanlam Broker Distribution Midland Province),
attended a prestige evening for prospective postgraduate students of the Economics Department at the
University of the Free State, which Sanlam sponsored.
7 Sanlam donated a cheque of R16 800 towards backto-school stationery packs for children at the Lambano
Sanctuary Homes and Hospice for abandoned and
orphaned children. Lungisa Mbuli (Executive Head:
Group Business Development) (left) handed the
cheque to Martha Sibase and Vivian Carozzo of
Lambano Sanctuary, during a ceremony attended by
Sanlam colleagues Marianne Steyn, Dev Chetty and
Kallie Erasmus 8 Financial Adviser Johan Mitchell hands
over laptops and a desktop computer to pastor Chetty
of the Beacon of Hope Ministries in Bellville South.
4
1
2
1 Nonhlanhla Zwane (Client Contact Centre)
participated in the Mega Bubble event at Sky Solutions’ Operations Olympics. 2 Local TV personality
Christi Panagiou (centre) was the guest speaker
at an event for women hosted by Sanlam Port
Elizabeth. She’s flanked by southeastern Cape business manager Jan Muller (left) and Central Region
recruitment officer Yolanda Horne.
3 At Sanlam Sky Solutions’ Operations Olympics,
Team South America challenged Team Europe and
Team North America to an ultimate minute-to-winit showdown. Contestants, Jacques Erasmus (left)
and Christo van der Linde (both IT Department),
competed in four separate events. Team South
America won with 11 points, followed by Team North
America (10 points) and Team Europe (9 points).
FEBRUARY 2013
6
3
7
8
FEBRUARY 2013
9
10
Nothing less
less
Nothing
than World
World
than
Class.
Class.
12
9 Northland Adelaar qualifiers (front row left to right): Jaco Coetzee
(General manager SFA), Gideon Snyman, Henning Kemp, Tommie
Moolman, Willie Roux, Marié St Arnaud; back row from left to right:
Willem van Zyl (SHB: Noordland), Johan Pieters, Callie Prigge, Johan
Schoeman, Daan Lubbe and Connie Conradie at the Northland 2012 Eagle
function. Fellow Adelaar Pieter Lee was not present at the function. 10
Carol Erasmus (Administrator: SEB Revisions) (right) was presented with a
certificate by line manager Sylvia Theron for her 25-years’ service at Sanlam.
11 Adviser David Rensburg, Central Region, southeastern Cape, donated
trophies to Bertam Secondary School. He’s pictured here with Grade 11
learner Denise Classen, a star learner at the school who received a trophy
and two diplomas. 12 Vusi Mdlalose, business manager at Sanlam hands
over a cheque for R50 000 to Mr M. Padayachee, the principal of Reunion
Secondary School and Samkelo, the learner who composed the winning
song in the Sanlam Kay Motsepe Victory Song Competition. 107 Growth
market schools in the Western Cape, Gauteng and KZN had to come up
with a victory song to encourage soccer teams playing in the Sanlam Kay
Motsepe Schools Cup. 13 Anne Livingstone, chief executive of Sanlam Sky
Solutions, hands Iwan Dirksen, back office support manager, a cheque for
R20 000. He was the overall winner in the Leadership category for the
Amawina Recognition Programme.
13
FEBRUARY 2013
When
invest
internationally,
should
getting
access
best
financial
When
youyou
invest
internationally,
youyou
should
be be
getting
access
to to
thethe
best
financial
solutions
available,
wherever
they’re
located.
That’s
why
Glacier
International
solutions
available,
wherever
they’re
located.
That’s
why
Glacier
International
works
with
globally
renowned
fund
managers
and
specialist
companies
bring
works
with
globally
renowned
fund
managers
and
specialist
companies
to to
bring
industry-leading
investment
strategies
and
practices
South
Africa,
enabling
industry-leading
investment
strategies
and
practices
to to
South
Africa,
enabling
ourour
clients
build
and
preserve
international
wealth
with
a trusted
local
partner.
clients
to to
build
and
preserve
international
wealth
with
a trusted
local
partner.
If If
you’re
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about
owning
a piece
of the
world…
you’re
thinking
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world…
Think
World
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Think
World
Class.
IMAGES SUPPLIED
11
Local
International
Investments
| PrePost-Retirement
Solutions
| Stockbroking
Local
andand
International
Investments
| Preandand
Post-Retirement
Solutions
| Stockbroking
Fiduciary
Services
| Asset
Protection
| Personal
Cover
Business
Assurance
Fiduciary
Services
| Asset
Protection
| Personal
Cover
andand
Business
Assurance
www.glacier.co.za
www.glacier.co.za
GLACIER
FINANCIAL
SOLUTIONS
(PTY)
A LICENSED
FINANCIAL
SERVICES
PROVIDER
GLACIER
FINANCIAL
SOLUTIONS
(PTY)
LTDLTD
IS AISLICENSED
FINANCIAL
SERVICES
PROVIDER
TJDR (CT) 39686/E
TJDR (CT) 39686/E
THE
MONTH
IN
PICTURES
IN
THE
NEWS
vision
for SFA
New
First Cumulus,
!
s
u
b
m
i
now N
After a decade, SFA has formulated a new vision
that introduces a new era for the business:
To be the most professional and
client-centric financial advice
sales organisation in South Africa
that treats clients fairly whilst
doing business in a profitable and
sustainable way.
From 12 to 14 March, SFA will host a muchanticipated leadership conference at the
Indaba Hotel in Johannesburg. This is the first
SFA Leadership Conference since 2009, and the
prestigious event will not only be attended by
SFA managers and specialists, but will also be
attended by staff of businesses that support SFA.
‘The theme is SFA’s Blueprint for Success,’ says
Jaco Coetzee, general manager: SFA. ‘Clientcentricity, clear goals and direction and staying
relevant are some of the behavioural factors
in our Blueprint for Success, which are also
supported by SFA’s vision.’
The aim of the conference is to generate
positive energy and outline the integration
between SFA’s vision, Sanlam’s Blueprint
for Success and the guidelines on Treating
Customers Fairly (TCF).
The programme will include top-class
speakers such as the chief executive of
SPF, Lizé Lambrechts; the CEO of Sanlam
Investments, Johan van der Merwe; Guy
Krige, director of PWC; and Professor
Johann Coetzee, author of It’s About Time.
FEBRUARY 2013
Apart from its attractive price, Nimbus
has the following benefits:
•Sanlam adds an additional allocation
of at least 5% to the one-off payment
amount, ensuring the investment grows
even faster;
•A select range of quality investment
funds is offered, making it easier to
choose the most appropriate
investment funds;
•A suitable investment solution is
offered for the cost-conscious investor
who does not attach much value to
investment funds with guarantees.
According to Bennie, Nimbus will fill
a need in the market for an endowment
investment plan with good returns at a very
good price. ‘Absa brokers in particular will
welcome Nimbus as they favour exactly this
type of cost-effective investment.’
Nimbus offers a select range of quality
unit trusts to choose from for the
underlying assets of the endowment.
These include:
•From Allan Gray, the Equity Fund,
Balanced Fund, Stable Fund and Orbis
Global Equity Feeder Fund;
•From SIM the Active Income Fund,
Balanced Fund, Money Market Fund and
Value Fund;
•From Coronation, the Balanced
Defensive Fund, Balanced Plus Fund,
Equity Fund and Top 20 Fund;
•From Investec, the Opportunity Fund
and Property Equity Fund;
•The Nedgroup Rainmaker Fund;
•Old Mutual’s Mining and Resources
Fund Class A.
à
COMING SOON!
THE SFA LEADERSHIP
CONFERENCE
After a decade during which its vision served the business
very well, Sanlam Financial Advisers (SFA) has constructed a
new vision that will introduce a new era for the business.
‘The previous vision – To be the most professional
financial advice sales organisation in South Africa – took
us far on the road to professionalism coupled with quality
service and superior financial advice. We cannot afford
to neglect any of that going forward, but we had to
take cognisance of trends and changes in the external
environment in order to remain relevant. At the same time
we also wanted to express Sanlam Personal Finances’
aspirations in SFA’s vision,’ says Jaco Coetzee, general
manager: SFA.
‘SFA is a sales organisation rendering professional
financial advice to our clients – that will not change. The
real needs of clients are at the base of our advice. But
profitability is also becoming increasingly important,
because we need to conduct our business in a profitable
manner in order to remain viable and to be able to continue
to add value to our clients,”’says Jaco.
‘We are not merely selling products, but we offer
professional advice in a professional manner and will treat
our clients fairly at all times in order to sustain longevity
in client relations. We must do this in a profitable manner,
therefore we will also pursue profit targets and not only
production targets going forward.’
Striving for client centricity as well as profitability at the
same time will balance people’s perspectives and will result
in not one of the aspects taking precedence over the other,
says Jaco. ‘And whatever we are doing, we have to do it very
professionally within the context of our industry.’
Client centricity, profitability and professionalism thus
form the building blocks of SFA’s new vision – with advice
at the centre of it all. These concepts were all woven into
the new vision. ‘We are confident that it addresses the main
drivers for our business for the road ahead,’ says Jaco.
Cumulus, Sanlam’s star singlepremium product which has
taken the market by storm, has a
younger ‘brother’.
Nimbus (Sanlam Nimbus Investments)
is expected to follow in the footsteps of
the highly successful Cumulus, which was
launched almost two years ago. Not only
was Cumulus the fastest-selling product
in its first year in Sanlam’s history, but it
has also become our top-selling singlepremium product.
Nimbus is as exciting as Cumulus.
It doesn’t offer the same guarantees,
but its huge advantage is cost: it is a
cheaper product, with the lowest fees
in the market for five-year endowment
investment plans, says Bennie Wessels,
product actuary at Product Development,
SPF. ‘It is a solution for investors who are
looking for an extremely cost-effective
investment product. Compared to
Cumulus, Nimbus is like a budget
airline where you don’t pay for the
food and drinks.’
Spoilt for choice
Did you know?
Further exciting product
news is that additional funds
have been added to Cumulus
Retirement Annuity and
significant tariff improvements
are being made to Matrix,
Cobalt for Professionals and
Glacier risk products.
For more info and resources, contact Sanlam Product Support on
021 916 3082, or email [email protected].
FEBRUARY 2013
THE YEAR AHEAD
Word to the
WISE
Q&A with Lizé Lambrechts
NI
U
MB
S
What does 2013 hold for SPF, and what does it mean for the way we work?
Q
A
Let’s start with the big picture.
In economic terms, what do
you expect in 2013, and what
might that mean for SPF on a
day-to-day basis?
I’m not an economist, but I do
have a personal view, for what
it’s worth.
The developed and the
developing worlds are sending
mixed signals about economic
recovery. The signal we’re
getting from the developed
world is that recovery is slower
than expected. The developing
world, however, is more
buoyant.
At SPF, we are affected by
both of these. Our more affluent
clients tend to have investment
interests in both worlds, while
SA is a mix of developed and
developing economies.
Our challenges in SA,
however, mean that our
prospects are probably similar
to those of the developed
world. Recovery and growth
have been on the subdued side,
and will be held back further by
the recent labour unrest.
Whether our clients are the
strikers or the owners, all are
affected and investors naturally
become wary when labour
relations are confrontational
and marked by violence.
We are beginning to see signs
FEBRUARY 2013
that inflationary pressures are
building up – fuel costs, power
costs, labour costs – and this
could lead to higher interest
rates at some point in the next
two years.
Finally, SA’s credit rating
downgrade affects our ability to
borrow money, and ultimately
our long-term interest rates.
All our clients are affected by
interest rates and inflationary
pressures, and by the lower
investment returns that this
scenario is likely to offer. Our
intermediaries have to advise
our clients in this environment
of uncertainty, which is no easy
task.
As a company we are
acutely sensitive to the
difficulties our intermediaries
are facing, and we must always
look for even more ways to
support them.
Is SPF nervous, then?
Not at all – in fact, in spite of
the macro-economic picture, we
expect SPF to show good newbusiness growth in 2013.
We expect the best growth to
come from the affluent market,
via Glacier with its new focus on
the younger affluent client; and
from the entry-level market, via
Sanlam Sky Solutions.
There are plenty of
unexplored opportunities in
both of those segments of
the market.
What is SPF doing to support
the Distribution team, which
is chasing this growth in a
subdued market?
Profitable new business growth
is an ongoing key focus area for
us – SPF is about growing value
rather than growing volume.
So it’s not a new challenge,
and we’re not going to be
getting into any smoke and
mirrors. Rather, in line with our
back-to-basics approach, we’re
making sure that we continue
to give top-quality support, and
maintain our excellent payout
record. Beyond that, the onus
is on each business unit to
understand its own drivers of
growth and to manage them.
However, in the more mature
growth market segment, where
growth is likely to be slower,
our intermediaries will enjoy
the fact that we have engaged
in some product development
and refinement. Early this year,
for instance, we’ll be launching
improvements to our risk
products; and later on we will
be releasing revamps to our
retirement solutions.
We’re also excited about our
special Sanlam for Graduates
package, which will assist us in
catering for the needs of the
young market, those who are
starting their first jobs.
In Glacier, we’ve identified
young affluent people as an
underserved market, so Glacier
financial advisers will be setting
out to rectify that. And at the
other end of the scale, Sky
has been under-represented
in certain geographic regions.
This year we’ll change that,
and you will be seeing a
substantially increased agent
footprint serving this segment
of the market.
Is there anything about the
regulatory environment we
need to be concerned about?
I suppose the big thing last
year was the regulatory exams
– they were guaranteed to make
everyone nervous! But from
a management perspective,
although we saw a small adviser
and broker fallout, I am really
proud of the way our sales
people acquitted themselves
through the process.
There is still debate at
an industry level about the
nature of the regulatory exams
required for advisers serving
the entry-level market. But I’m
comfortable that whatever is
decided, our people will handle
it equally well.
One of the biggest focus
areas for Sanlam and SPF
this year will be on gearing
our business for the Treating
Customers Fairly (TCF)
regulation (see p12) and
creating internal awareness of
our practices in this sphere.
We did considerable work
on TCF last year, performing
a gap analysis and planning
around filling those gaps.
2013 will be about sharing our
findings with SPF’s staff and
discussing what we need to do
to improve our compliance.
Know our chief executive
Lizé Lambrechts is heading into her second decade as chief
executive of Sanlam Personal Finance: she has been in the hot seat of
the largest business within the Sanlam Group since 2002.
Lizé joined the company during her actuarial studies in 1985. Since
then, her business card has said, amongst other things,
programme manager; senior development process manager;
general manager: shared services; general manager: business design;
chief executive: Sanlam Life; and executive director: Client Care.
Lizé has been a member of Sanlam’s Exco since April 2002, and she is
also a director of:
• Sanlam UK Limited,
• Sanlam Life & Pensions
• UK Glacier Financial Holdings, and
• Sanlam Developing Markets Limited.
Between 2006 and 2007 she was
chairman of the Life Offices Association
and in 1998, Lizé was named National
Corporate Business Woman of the Year.
She is married and has a daughter.
FEBRUARY 2013
THE YEAR AHEAD
2013
according to Lizé
NI
pressures to look at cost
structures, which ultimately
translate into efficiency
improvements. We’ve set
targets for each business unit
that require them to maximise
productivity and eliminate
wasteful expenses; and,
naturally, we must also look
for synergies. It’s a creative
process, and I’d like to thank
everyone for
getting involved.
We need to do
more with fewer
resources, but
that doesn’t need
to mean working
harder – it just
requires all of us
to work smarter.
You know your own job better
than anyone, so you’re the best
person to come up with ideas
to streamline it – let’s hear
from you!
Secondly, systems renewal
and improvements. Some great
work was done in 2012 and I’d
like to thank everyone for that.
There are still some ongoing big
projects and this year we will
see benefits start to flow
from those.
Thirdly, people development.
Our people are the best thing
about SPF. We have very good
people. In 2013, we will be
continuing all our development
activities, but this year you’ll
also see a whole campaign of
actions arising from the Sanlam
Blueprint for Success. We’ll be
running a focused programme
to be sure we implement
whatever is necessary.
‘SPF is about
growing
value rather
than growing
volume’
What else are you
focusing on in 2013?
Apart from the profitable
new business growth and the
effort we will be putting into
regulatory changes, our key
focus areas for this year
are threefold:
Firstly, efficiency
improvements. There are
competitive and regulatory
FEBRUARY 2013
U
MB
S
There’s still work to be done
on the transformation front, but
we’ve made good progress in
this regard.
Any last words for us?
I would like to thank
everyone for making 2012
a good year under very
difficult circumstances.
Across the board, people
delivered everything I hoped
for, and more.
Although I’d love to say
2013 will be easier, I don’t see
the environment changing, so
it’s likely to be another one
of those years in which we
have to outsmart the difficult
circumstances.
My personal five-point
checklist is:
•Don’t try to be too clever – get
the basics right, and the rest
will follow.
•If I know what I personally
have to do to help SPF achieve
performance, and do it well,
then performance targets will
flow.
•No contribution is irrelevant,
so whatever I do, I aim for
excellence.
•Innovate where and when it
adds value to do so.
•Though the tools, systems and
products SPF provides are
useful, they don’t do the job
for me – I am accountable for
my own performance.
As long as we continue to
put Sanlam’s interest and our
clients’ interests first, we will
continue to be successful.
And, last but not least, I’d like
to have fun doing it!
cu
mu
lus
‘A substantially
increased agent
footprint serving
the young,
affluent market.’
TC
ILLUSTRATION PATRICK LATIMER IMAGES SUPPLIED
Overall, I think it’s a good
piece of regulation in terms of
what it can do for relationships
with clients.
The principles are pretty
close to the principles of client
centricity which already guide
us at SPF, so I don’t see a
significant change in the way
we do things. Changes will be
more about showing what we
already do, and perhaps being
more conscious of the TCF
principles in everything we do,
from product development to
payout. We’ll be talking a lot
about this during the year, and
I’m keen to hear from people in
every area in the business.
Finally, it’s
worth noting
that we are
seeing a more
interventionist
spirit from
government:
there are
discussion
papers coming
through on everything
from retirement reform and
intermediary remuneration
to the cost structures of the
savings business. All of us
should keep an eye on these
developments, understand what
the discussions are about, and
participate in them where we
can. The challenge for SPF is
to position ourselves to be a
leader as and when anything
formally changes.
‘We expect SPF to show
good new business growth.’
Un
‘We’re excited
about our special
Sanlam for
Graduates package.’
i ve
rsi
F
‘It’s a good
piece of
legislation in
terms of what
it can do for
relationships
with clients.’
ty
‘We’re making sure we
continue to give top
quality support and
maintain our excellent
payout record.’
FEBRUARY 2013

personal finance

Transcription

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