Schaefer Asset Management (SAM) is an independent broad based authorised South African financial services company that provides a wide range of financial services to corporate and private clients.
SAM is based in East London but services the whole of South Africa with a strong presence in the Eastern Cape. The SAM culture is built around three pillars:
- Personalised, excellent service
- Specialised, independent advice
- Blue Chip institutional linkages
How is SAM Remunerated?
- SAM receives, from the institutions with whom the business is placed, commission / advice fees at standard rates on life / risk, medical aids, employee benefit and short-term insurance business.
- Most SAM private clients prefer that SAM is remunerated for its advice, by the institutions with whom their business is placed. These charges are disclosed to the client and are sometimes negotiable. SAM also contracts clients on a monthly basis dependant on the services it is engaged in- in this regard a service level agreement and debit order facility is contracted.
- SAM also conducts consultancy work for an agreed hourly fee which varies from client to client and is negotiated upfront.
- SAM levies VAT on all commissions and fees paid within South Africa.
The SAM Professional Standard and Technical Issue
- SAM maintains adequate professional indemnity cover to protect clients from loss due to the possible negligence or dishonesty of our staff. We hold a current facility of R5 000 000.
- We ensure that only suitably qualified consultants offer clients advice or recommendations.
- We adhere to all legislative requirements regarding the financial services industry and the company commits its staff to the highest standards of training and ethical and professional behaviour.
- We are not associated or bound to any one particular insurer/asset manager - this allows us to offer impartial un-bias advice.
- We do not hold more than 10% of the shares issued by any insurer/asset manager.
- We receive more than 30% of our remuneration, fluctuating monthly, from the following insurers: Old Mutual Insure, Santam, Bryte, Momentum Life, Discovery Life, Old Mutual, Liberty Life - with percentages fluctuating monthly.
- SAM has the authority to market the products of the following major insurers/financial service providers and we are accredited to market their products: Old Mutual, Sanlam, Momentum, Discovery Life, Hollard, Altrisk, Liberty Life, Marriott, Investec, Element, Safrican, Prosperity, Old Mutual Insure, Santam, Bryte, Compendium, Regent, Auto and General, Frontline, Chartis, Abelard, Petrosure, Coronation, Allan Gray, Genric, Miway, Quicksure, Brightrock.
- Compliance with the FIAS Act is monitored by Masthead Financial Advisors Association, through Masthead (Pty) Ltd, a compliance practice approved by the Financial Services Board. The contact telephone number is 031 267 5650.
- In the event that a client is dissatisfied with any aspect of our service, they may address their complaints in writing to address below. A copy of SAM complaints policy is available on request.