regulatory fineprint
Compound Growth Wealth Management (Pty) Ltd (CGWM) is an authorised financial services provider in terms of the Financial Advisory and Intermediary Services Act of 2002. The Wealth Managers that are employed by Compound Growth Wealth Management (Pty) Ltd are authorised to provide financial advice. The technical assistants and administrators are not authorised to provide financial advice and do not provide financial advice. All information contained in an email from technical assistants and administrators, including attachments, should not be construed, or relied upon, as advice. If you require financial and/or investment advice, please ensure that you consult with one of our Wealth Managers.
The contents of this email and any accompanying documentation are confidential and may be subject to legal privilege and client confidentiality. Any use thereof, in whatever form, by anyone other than the addressee is strictly prohibited. If you are not the intended recipient of this email or facsimile, kindly notify the sender by return email, facsimile or telephone, as well as deleting it from your system. You may not copy this email or disclose its contents to any other person, without our express written consent.
The content of this email and any accompanying documentation relating to Compound Growth Wealth Management (Pty) Ltd (CGWM) are owned by CGWM and are protected by copyright and other intellectual property laws. All rights not expressly granted are reserved.
By communicating with us through electronic means, you consent to receiving communications electronically and agree that all agreements, notices, disclosures and all other communications transmitted by electronic means, satisfy any legal requirement, including but not limited to the requirement that such communication should be in writing. Unless otherwise agreed, we are only deemed to have received an email once we have confirmed receipt thereof; and we are only deemed to have sent an email once reflected as ‘sent’ on our email server.
Compound Growth Wealth Management (Pty) Ltd (CGWM) shall not be liable if any variation is affected to any document or correspondence emailed unless the variation has been approved by the sender thereof. CGWM cannot be held liable for any harm or loss resulting from viruses in this message or attachments, including data corruption resulting therefrom. CGWM therefore disclaims liability or legal responsibility for the non-delivery or incorrect delivery for whatever reason of the contents of this message, its effect on electronic devices or its transmission in an unencrypted medium.
Compound Growth Wealth Management (Pty) Ltd (CGWM) is not able to distinguish between business and personal emails. Users who make use of CGWM’s email system do so at their own risk and accept responsibility for any actions or consequences that arise from such personal use. Any views or opinions expressed in such messages are those of the individual sender and do not create obligations on or represent any commitment by CGWM, except where the sender specifically states it to be the views or opinions of CGWM. If this message contains offensive, derogatory or defamatory statements or materials, it means the message has been sent outside the sender’s scope of employment with CGWM and only the sender can be held liable in his/her personal capacity.
Users who make use of CGWM’s email system do so at their own risk and accept responsibility for any actions and consequences that arise from use. In general terms, CGWM does not engage in blanket monitoring of communications. CGWM does however reserve the right at any time and without notice to intercept and monitor communications and stored files sent or received over or stored on CGWM’s information and communications systems, provided that such monitoring and interception is: performed by an CGWM representative properly authorised by CGWM; for a lawful purposes; and strictly in accordance with CGWM Information Policy procedures.
Nothing contained in this email constitutes a solicitation, recommendation, endorsement or offer by CGWM, but shall merely be deemed to be an invitation to do business.
This email and any accompanying documentation are to be interpreted and implemented in accordance with the laws of the Republic of South Africa.
Compound Growth Wealth Management (Pty) Ltd Limited (Registration no: 2013/127187/07) Address: 25 Culross Road Bryanston 2021 Directors: PD Hill and FJ Roberts. For more information contact: compliance@cgwm.co.za
Whilst every care is taken to ensure that the information on Compound Growth Wealth Management (Pty) Ltd’s (CGWM) website is current and accurate, please refer to our full disclaimer below.
This website is controlled by Compound Growth Wealth Management (Pty) Ltd (CGWM) which is a company established in the Republic of South Africa. The site can be accessed from various other countries around the world but is designed specifically for persons located in the Republic of South Africa. No representation or warranty is made that the materials contained in the site are appropriate to, available in or appropriate for any other jurisdiction. Those who access this site do so on their own initiative, and are therefore responsible for compliance with applicable local laws and regulations.
The information provided on this website is intended to provide you, the user, with objective information about CGWM’s products and services and is not intended to constitute advice, guidance or proposal as regards the suitability of any product in respect of any need you may have. Calculations made/obtained by means of the tools made available on this website are for illustrative purposes only.
CGWM and/or its service providers consider the information on this website to be reliable. However, they do not represent or guarantee, directly or indirectly, its accuracy, nor are they responsible for the consequences of any decisions taken based on the information.
In addition CGWM is not responsible for and disclaims all liability for any loss, liability, damage (whether direct, indirect or consequential) or expense of any nature whatsoever which may be suffered as a result of, or which may be attributable, directly or indirectly, to the use of or reliance upon any information, links, opinions or services provided through this website.
The user hereby indemnifies CGWM and or its service providers against any claim or liability arising out of the user’s use of this website. The user waives any claim which it may have or acquire against CGWM arising out of the user’s use of this website.
Copyright subsists in all materials and information on this website. The copyright in and to these materials and information is exclusively owned by CGWM. You may use the information and print or reproduce materials from this website only for your own non–commercial personal use.
The Promotion of Access to Information Act, no. 2 of 2000 (the ‘Act’) gives persons the right of access to information that is required for the exercise or protection of any rights. In order for access to information to be granted, certain requirements have to be met. The Act also requires private bodies such as Compound Growth Wealth Management (Pty) Ltd (CGWM) to compile a manual, designed to assist people who want to exercise their right to access to information. This manual, as well as the prescribed request form and fees payable (should you wish to exercise your right of access to information), can be obtained by emailing us at compliance@cgwm.co.za
Compound Growth Wealth Management (Pty) Ltd (CGWM) is committed to maintaining the privacy and security of its customers’ personal and private information. Our privacy policy outlines our practices and commitment to the customer and is confirmed below.
This use and disclosure of your personal information is regulated by the Protection of Personal Information Act (“PPI”). (“POPIA”)
At Compound Growth Wealth Management (Pty) Ltd (CGWM) we are committed to protecting your privacy and to ensure that your personal information is collected and used properly, lawfully and transparently.
We collect and process your personal information mainly to provide you with access to our services, to help us improve our offerings to you and for certain other purposes explained below.
The type of information we collect will depend on the purpose for which it is collected and used. We will only collect information that we need for that purpose.
We collect information directly from you where you provide us with your personal details, for example when we are planning, preparing a proposal, when you submit enquiries to us or contact us. Where possible, we will inform you what information you are required to provide to us and what information is optional.
With your consent, we may also supplement the information that you provide to us with information we receive from other companies (e.g. Astute or other investment houses) to offer you a more consistent and personalized experience in your interactions with CGWM.
Website usage information is collected using “cookies” which allows us to collect standard internet visitor usage information.
We will use your personal information only for the purposes for which it was collected or agreed with you, for example:
To provide our services to you, to carry out the transaction you requested and to maintain our relationship;
We will also use your personal information to comply with legal and regulatory requirements or industry codes to which we subscribe or which apply to us, or when it is otherwise allowed by.
Given our aim to provide you with ongoing Wealth Management Services, we would like to use your information to keep you informed about other financial products and services which may be of particular interest to you and to contact you to set up review meetings.
We may disclose your personal information to our service providers who are involved in the delivery of products or services to you. We have agreements in place to ensure that they comply with these privacy terms.
We may share your personal information with, and obtain information about you from:
We may also disclose your information:
You have the right to ask us to update, correct or delete your personal information. You may do this by contacting us at the numbers/addresses provided below;
We will take all reasonable steps to confirm your identity before making changes to personal information we may hold about you.
We would appreciate it if you could keep your personal information accurate. Please update your information whenever your details change.
Please note that we may amend these guidelines from time to time. Please check this website periodically to inform yourself of any changes.
Compound Growth Wealth Management (Pty) Ltd (CGWM) is committed to maintaining the privacy and security of its customers’ personal and private information. Our privacy policy outlines our practices and commitment to the customer and is confirmed below.
This use and disclosure of your personal information, is regulated by the Protection of Personal Information Act (“PPI”). “POPIA”
At Compound Growth Wealth Management (Pty) Ltd (CGWM) we are committed to protecting your privacy and to ensure that your personal information is collected and used properly, lawfully and transparently.
We collect and process your personal information mainly to provide you with access to our services, to help us improve our offerings to you and for certain other purposes explained below.
The type of information we collect will depend on the purpose for which it is collected and used. We will only collect information that we need for that purpose.
We collect information directly from you where you provide us with your personal details, for example when we are planning, preparing a proposal, when you submit enquiries to us or contact us. Where possible, we will inform you what information you are required to provide to us and what information is optional.
With your consent, we may also supplement the information that you provide to us with information we receive from other companies (e.g. Astute or other investment houses) to offer you a more consistent and personalized experience in your interactions with CGWM.
Website usage information is collected using “cookies” which allows us to collect standard internet visitor usage information.
We will use your personal information only for the purposes for which it was collected or agreed with you, for example:
To provide our services to you, to carry out the transaction you requested and to maintain our relationship;
We will also use your personal information to comply with legal and regulatory requirements or industry codes to which we subscribe or which apply to us, or when it is otherwise allowed by. Given our aim to provide you with ongoing Wealth Management Services, we would like to use your information to keep you informed about other financial products and services which may be of particular interest to you and to contact you to set up review meetings.
We may disclose your personal information to our service providers who are involved in the delivery of products or services to you. We have agreements in place to ensure that they comply with these privacy terms.
We may share your personal information with, and obtain information about you from:
Third parties for the purposes listed above, for example credit reference and fraud prevention agencies, law enforcement agencies;
We would appreciate it if you could keep your personal information accurate. Please update your information whenever your details change.
Please note that we may amend these guidelines from time to time. Please check this website periodically to inform yourself of any changes.
Compound Growth Wealth Management (Pty) Ltd (CGWM) has a detailed internal complaint resolution procedure to assist resolving complaints.
Should you wish to pursue a complaint against a Key Individual or Representative of Compound Growth Wealth Management (Pty) Ltd (CGWM), you should address the complaint in writing to us by emailing fiona@cgwm.co.za.
If you cannot settle the complaint with us, you are entitled to refer it to the Office of the FAIS Ombud, at info@faisombud.co.za or telephone number 0860 324 766. The Ombud has been created to provide you with a redress mechanism for any inappropriate financial advice that you feel may have been given to you by a financial advisor.
Compound Growth Wealth Management (Pty) Ltd – Contact detail for complaints:
25 CULROSS ROAD, BRYANSTON, JOHANNESBURG, 2152
PO BOX 141, BROEDERSTROOM, BRITZ, 0240
TELEPHONE: 011 591 0599
EMAIL: support@cgwm.co.za
“Complaint” means an expression of dissatisfaction by a complainant, relating to a product or service provided or offered by the financial services provider, or to an agreement with the financial services provider in respect of its products or services and indicating that;
the financial services provider or its service provider has treated the complainant unfairly. and regardless of whether such an expression of dissatisfaction is submitted together with or in relation to a customer query “Complainant” means a person who has submitted a specific complaint to the financial services provider or its service provider and who;
“Customer” of a financial services provider means any user, former user or beneficiary of one or more of the financial products or services provided by the financial services provider, and their successors in title.
“Customer Query” means a request to the financial services provider by or on behalf of a customer or prospective customer, for information regarding the financial products, services or related processes, or to carry out a transaction or action in relation to any such product or service.
“FAIS” means the Financial Advisory and Intermediary Services Act No. 37 of 2002 which was designed to protect customers of financial services providers; regulate the selling and advice-giving activities of FSP (FSPs); ensure that the consumers are provided with adequate information about the financial product they use and about the people and institutions who sell these financial products and establish a properly regulated financial services profession. “FAIS Ombud” deals with complaints submitted to the Office by a specific customer against a financial services provider.
“Financial Services Provider” means Compound Growth Wealth Management (Pty) Ltd with FSP No 44973 and place of business 25 CULROSS ROAD, BRYANSTON, JOHANNESBURG, 2152.
“Prospective customer” of a financial services provider means a person who has applied to or otherwise approached the financial services provider in relation to becoming a customer of the financial services provider, or a person who has been solicited by the financial services provider to become a customer or has received marketing or advertising material in relation to the financial institution’s products or services.
“Routine Complaints” is where a customer submits an expression of dissatisfaction together with a customer query or relating to a customer query and which further can be resolved internally within a period of 15 days. Routine complaints are therefore customer queries which have been escalated by the customer previously but now the customer has become dissatisfied with the process being followed to resolve the customer query.
“Serious Complaints” are complaints that contravene regulatory requirements and are likely or may already have caused a customer to suffer financial prejudice.
“Service provider” means another person with whom the financial services provider to whose products or services the complaint relates has an arrangement in relation to the marketing, distribution, administration or provision of such products or services, regardless of whether or not such other person is the agent of the financial services provider.
“Resolved” in relation to a complaint means that the complaint has been finalised in such a manner that the complainant has explicitly accepted that the matter is fully resolved or that it is reasonable for the financial services provider to assume that the complainant has so accepted. A complaint should only be regarded as resolved once any and all undertakings made by the financial services provider to resolve the complaint have been met.
“TCF” Treating Customers Fairly is an outcome based regulatory and supervisory approach designed to ensure that specific, clearly articulated fairness outcomes for financial services customers are delivered by regulated financial service providers (FSPs). FSPs are expected to demonstrate that they deliver the required 6 TCF Outcomes to their customers throughout the product life cycle, from product design and promotion, through advice and servicing, to complaints and claims handling – and throughout the product value chain.
All complaints will be prioritised as follows:
Risk 1 – routine complaints, potential low business impact. This requires a response to the customer within 15 working days.
Risk 2 – urgent, serious business impact. This requires a response to the customer within 5-10 working days.
Risk 3 – urgent official complaints received from regulators e.g. FAIS Ombud. The regulator usually stipulates a response time of 30 days from receipt of the complaint.
The details of the findings and proposed resolution should be clearly explained (in written or verbal form as appropriate) to the customer- within the agreed timescales.
Where a complaint cannot be addressed within three weeks by the financial services provider, it must as soon as reasonably possible after receipt of the complaint send to the complainant a written acknowledgment of the complaint with contact references of the FAIS Ombud.
If within six weeks of receipt of a complaint the FSP, Compound Growth Wealth Management (Pty) Ltd has been unable to resolve the complaint to the satisfaction of a complainant, the complainant may:
Compound Growth Wealth Management (Pty) Ltd (CGWM) has adopted and implemented a Conflict of Interest Management Policy that complies with the provisions of the FAIS Act.
The Conflict of Interest Management Policy is published below. You can also email support@cgwm.co.za to obtain a copy of it.
Section 3A(2)(a) of the General Code of Conduct stipulates that every provider, other than a representative, must adopt, maintain and implement a conflict of interest management policy that complies with the provisions of the Act. The policy is to provide mechanisms in place at Compound Growth Wealth Management (Pty) Ltd (CGWM) to identify, mitigate and manage the conflicts of interest to which the CGWM is a party. This Conflict of Interest Management Policy is designed as prescribed in Board Notice 58 of 2010 which amends the General Code of Conduct for Financial Services Providers and Representatives published in Board Notice 80 of 2003, as amended by Board Notice 43 of 2008.
This Conflict of Interest Management Policy does not change our existing conflict of management procedures but intends to document them in simple form as required by the Financial Services Board. In terms of the Financial Advisory and Intermediary Services Act, 2002, CGWM is required to maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to identify, monitor and manage conflict of interest. CGWM has put in place a policy to safeguard its clients’ interests and ensure fair treatment of clients. All providers, key individuals, representatives, associates and administrative personnel will commit to such policy and the processes will be monitored on an ongoing basis. CGWM keeps and maintains a register in which all actual or potential conflicts are recorded.
CGWM is committed to ensuring that all business is conducted in accordance with good business practice. To this end CGWM conducts business in an ethical and equitable manner and in a way that safeguards the interests of all stakeholders to minimise and manage all real and potential conflicts of interests. Like any financial services provider, CGWM is potentially exposed to conflicts of interest in relation to various activities. However, the protection of our clients’ interests is our primary concern and so our policy sets out how:
A conflict of interest may occur when in rendering a financial service to you we do not act objectively or do not render an unbiased or fair service to you or do not act in your interests, including but not limited to: • Financial interest; • An ownership interest; • Any relationship with a third party.
Any cash, cash equivalent, voucher, gift, service, advantage, benefit, discount, domestic or foreign travel, hospitality, accommodation, sponsorship, valuable consideration, other incentive or valuable consideration (exceeding R1000 per annum) other than;
Has the meaning assigned to it in the financial reporting standards adopted or issued under the Companies Act, 61 of 1973.
We confirm that we will only receive financial interest from the aforesaid providers in the form of:
Our remuneration policy is described in the Contact Stage Disclosure letter.
To adequately manage conflicts of interest we must identify all relevant conflicts timeously. In determining whether there is or may be a conflict of interest to which the policy applies, CGWM considers whether there is a material risk of damage to the client, taking into account whether CGWM or its representative, associate or employee:
CGWM maintains an Index of potential conflict risks, taking into consideration all business areas and income streams. The index is updated with all new conflicts identified, and to ensure completeness is reviewed on an annual basis.
All employees, including internal compliance officers and management, are responsible for identifying specific instances of conflict and are required to notify the Key Individual of any conflicts they become aware of. The Key Individual will assess the implications of the conflict and how the conflict should be managed and act impartially to avoid a material risk of harming clients’ interests.
Create awareness and knowledge of applicable stipulations of the General Code of Conduct and relevant legislation relating to conflict of interest, through training and educational material. Ensure understanding and adoption of conflict of interest policy and management measures by all employees, representatives and associates. Regular inspections on all commissions, remuneration, fees and financial interests proposed or received in order to avoid non-compliance.
Once a conflict of interest has been identified it needs to be appropriately and adequately managed.
The Key Individual will assess each conflict, including whether the conflict is actual or perceived, what the value of the conflict or exposure is and the potential reputational risk. Compliance and management then agree on the controls that need to be put in place to manage the conflict. Disclosure:
Where there is no other way of managing a conflict, or where the measures in place do not sufficiently protect clients’ interests, the conflict must be disclosed to allow clients to make an informed decision on whether to continue using our service in the situation concerned. In all cases, where appropriate and where determinable, the monetary value of non-cash inducements will be disclosed to clients.
We will publish our conflict of interest management policy in appropriate media and ensure that it is easily accessible for public inspection at all reasonable times.
We may decline to act for a client in cases where we believe the conflict of interest cannot be managed in any other way.
This policy will be reviewed annually, and must be included in your annual FSB compliance report, containing details “…at least the implementation, monitoring and compliance with, and the accessibility of the conflict of interest management policy.”
The key individual or staff member in charge of supervision and monitoring of this policy will regularly monitor and assess all related matters.
All employees and representatives are required to read Board Notice 58 of 2010 as well as this policy and to sign a statement to the effect that they have done so and fully understand the provisions of both documents and the application thereof.
Comprehensive training on the Conflict of Interest policy will be provided to all employees and representatives as part of general FAIS training or specifically.
We confirm we will not offer any financial interest to our key individuals or representatives for:
With regard to existing third party relationships, being the product suppliers listed in our Contact Stage Disclosure letter, we confirm that we do not have an ownership interest or are subject to exclusive training nor are there any other circumstances which could lead to a potential conflict of interest. Should any conflicts arise with regard to any of these prior to entering into any business transaction with you we undertake to disclose these in the registers below. CGWM has implemented the registers below:
This is a Disclosure in terms of the Financial Advisory and Intermediary Services Act.
Our Treating Customers Fairly Policy is centered around guidelines provided by the Financial Services Board to ensure we consistently deliver fair outcomes to our clients and take responsibility for the business and staff, providing an enhanced service quality to clients, based on a culture of openness and transparency. As a business, we take the requirements of the FSB seriously, in particular, the requirement to treat customers fairly.
The regulator has introduced the 6 drivers of treating clients fairly. Compound Growth Wealth Management (Pty) Ltd (CGWM) is bound and supports these outcomes:
Customers are confident that they are dealing with firms where the fair treatment of customers is central to the firm culture;
Products and services marketed and sold in the retail market are designed to meet the needs of identified customer groups and are targeted accordingly;
Customers are given clear information and are kept appropriately informed before, during and after the time of contracting;
Where customers receive advice, the advice is suitable and takes account of their circumstances;
Customers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and what they have been led to expect;
Customers do not face unreasonable post-sale barriers to change product, switch provider, submit a claim or make a complaint.
These outcomes serve the FSB’s three intermediate outcomes:
CGWM has built these outcomes into their business processes to improve client service and understanding.
An Authorised Financial Services Provider regulated by the Financial Services Board, FSP Number 41026. Registration Number of Company: 2009/021475/07
NAME OF COMPANY: Compound Growth Wealth Management (Pty) Ltd
MANUAL in terms of Section 51 of The Promotion of Access to Information Act 2/2000 (the “ACT”) December 2011
Compound Growth Wealth Management (Pty) Ltd conducts business as Wealth Managers. We are an Authorized Service Provider in terms of the Financial Advisory & Intermediary Service Act. Our FSP licence number is FSP 41026.
Directors: PD HILL, FJ ROBERTS
Office Manager: FJ ROBERTS
Postal Address: PO Box 141, Broederstroom, Britz, 0240
Street Address: 25 Culross Road, Fourways, 2055 Telephone Number: 011-5910593
Email Address: support@cgwm.co.za
The ACT grants a requester access to records of a private body, if the record is required for the exercise or protection of any rights. If a public body lodges a request, the public body must be acting in the public interest.
Requests in terms of the ACT shall be made in accordance with the prescribed 2 procedures, at the rates provided. The forms and tariff are dealt with in paragraphs 6 and 7 of the Act.
Requesters are referred to the Guide in terms of Section 10 which has been compiled 3 by the South African Human Rights Commission, which will contain information for the purposes of exercising Constitutional Rights. The Guide is available from the SAHRC.
Postal Address: Private Bag 2700, Houghton, 2041
Telephone Number: +27-11-877 3600
Fax Number: Website: +27-11-403 0625 www.sahrc.org.za
No Ref Act Companies Act Copyright Act
The head of Compound Growth Wealth Management (Pty) Ltd must, during office hours and upon request make available for public inspection a copy of the manual;
May not charge a fee for a public inspection referred to in paragraph (1); and
May, in respect of a copy of the manual or part thereof made available in a manner other than that contemplated in paragraph (1), charge the fees prescribed in Item 1 of Part III of Annexure A and the actual postage if a copy must be posted.
To facilitate the processing of your request, kindly:
(If the requester wishes to be informed of the decision in any manner (in addition to written) the manner and particulars thereof;
Please download Form C and Fee Schedule from SAHRC Website The following applies to requests (other than personal requests):
A requestor is required to pay the prescribed fees (R50.00) before a request will be processed;
If the preparation of the record requested requires more than the prescribed hours (six), a deposit shall be paid (of not more than one third of the access fee which would be payable if the request were granted);
The fee structure is available on the website of the SOUTH AFRICAN HUMAN RIGHTS COMMISSION at www.sahrc.org.za.
The South African Human Rights Commission reserves all rights and makes no warranty, either express or implied, with respect to the information and/or promotional material contained herein and is not responsible for any expenses, inconvenience, damage (whether special or consequential) or claims arising out of posting, time and costs incurred and or associated with this information and will not be liable for the latter. Specific exemption from any liability is claimed with regard to the following:
