61 |
The legal protection of clients against insurance advisors in Lesotho and South Africa / Pontso Angelina MochesaneMochesane, Pontso Angelina January 2014 (has links)
The protection of clients in their dealings with insurance advisors is very important. This is
mainly because clients are not too knowledgeable about insurance products. This lack of
knowledge makes vulnerable to exploitation by insurance advisors. It is the duty of the
regulator of insurance to ensure adequate protection of clients in their dealings with
insurance advisors. However, this may not be easily attainable in a jurisdiction like Lesotho
where there is only one regulator for all financial institutions, the Central Bank of Lesotho.
This more so because insurance is very complex as there are different persons and
contracts involved. The client has to firstly deal with insurance advisors or intermediaries
before an actual contract of insurance comes into existence. In Lesotho the insurance
sector is regulated by the Insurance Act 18 of 1976. Although there are systems in place
regarding the regulation of the insurance industry, they are not adequate nor guarantee
effective protection of the clients. These measures are mainly focused on the relationship
between the Commissioner and the insurance advisors and not the relationship between
the insurance advisors and the clients. The ineffectiveness of the current regulatory
framework in Lesotho was exposed by the MKM situation in 2007 which showed that
clients in Lesotho are to a very large extent left unprotected against insurance advisors.
Even the proposed Insurance Bill of 2013 which was meant to address problems not
addressed by the Insurance Act, does not offer any assistance as it contains no provisions
on the protection of clients.
The problem with the legal framework in Lesotho is that does not address the most
important of protection of clients in their dealings with insurance advisors. This is also due
to the fact that there is only one regulator for all financial institutions and this places a very
burdensome duty on the Central Bank of Lesotho. In order to find solutions to this problem,
a comparative study based on literature was done between Lesotho and South Africa. This
is because South Africa on the other hand is more advance. The current legal framework
in South Africa ensures the protection of clients in their dealings with insurance advisors.
The non-banking institutions such as insurance advisors are regulated by the Financial
Services Board. There are systems in place in South Africa regulating the conduct of
insurance advisors towards clients. The Financial Advisory and Intermediary Services Act
is one of the measures in place meant to ensure that those who render advice are fit and
proper by requiring them, amongst others, to be in possession of relevant academic
qualifications and operational ability to dispose of their duties in terms of the Act. This is
different from the position in Lesotho where the only piece of legislation regulating the
insurance advisors is the Insurance Act. Furthermore, by virtue of section 2B of the
General Proclamation of 1884, the common law of South Africa is applicable in Lesotho so
it is important to examine the changes that South Africa has made to it common law on
which Lesotho mostly relies.
The results show that the clients in Lesotho are to a very large extent left unprotected
against insurance advisors as the current legal framework offers them no protection. The
legal framework in South Africa on the other hand affords clients more protection.
However, economic position of Lesotho it would not be ideal to take all measures
applicable in South Africa and apply them to Lesotho as they are. Based on these findings
recommendations made include that the Commissioner must engage in consumer
education to ensure that clients know about their rights in dealings with insurance
advisors. Another recommendation made is that the current legal framework be amended
to include provisions relating to the protection of clients. It is also recommended that the
Central Bank of Lesotho is well equipped to deal with matters relating to the protection of
clients. / LLM (Estate Law), North-West University, Potchefstroom Campus, 2015
|
62 |
The legal protection of clients against insurance advisors in Lesotho and South Africa / Pontso Angelina MochesaneMochesane, Pontso Angelina January 2014 (has links)
The protection of clients in their dealings with insurance advisors is very important. This is
mainly because clients are not too knowledgeable about insurance products. This lack of
knowledge makes vulnerable to exploitation by insurance advisors. It is the duty of the
regulator of insurance to ensure adequate protection of clients in their dealings with
insurance advisors. However, this may not be easily attainable in a jurisdiction like Lesotho
where there is only one regulator for all financial institutions, the Central Bank of Lesotho.
This more so because insurance is very complex as there are different persons and
contracts involved. The client has to firstly deal with insurance advisors or intermediaries
before an actual contract of insurance comes into existence. In Lesotho the insurance
sector is regulated by the Insurance Act 18 of 1976. Although there are systems in place
regarding the regulation of the insurance industry, they are not adequate nor guarantee
effective protection of the clients. These measures are mainly focused on the relationship
between the Commissioner and the insurance advisors and not the relationship between
the insurance advisors and the clients. The ineffectiveness of the current regulatory
framework in Lesotho was exposed by the MKM situation in 2007 which showed that
clients in Lesotho are to a very large extent left unprotected against insurance advisors.
Even the proposed Insurance Bill of 2013 which was meant to address problems not
addressed by the Insurance Act, does not offer any assistance as it contains no provisions
on the protection of clients.
The problem with the legal framework in Lesotho is that does not address the most
important of protection of clients in their dealings with insurance advisors. This is also due
to the fact that there is only one regulator for all financial institutions and this places a very
burdensome duty on the Central Bank of Lesotho. In order to find solutions to this problem,
a comparative study based on literature was done between Lesotho and South Africa. This
is because South Africa on the other hand is more advance. The current legal framework
in South Africa ensures the protection of clients in their dealings with insurance advisors.
The non-banking institutions such as insurance advisors are regulated by the Financial
Services Board. There are systems in place in South Africa regulating the conduct of
insurance advisors towards clients. The Financial Advisory and Intermediary Services Act
is one of the measures in place meant to ensure that those who render advice are fit and
proper by requiring them, amongst others, to be in possession of relevant academic
qualifications and operational ability to dispose of their duties in terms of the Act. This is
different from the position in Lesotho where the only piece of legislation regulating the
insurance advisors is the Insurance Act. Furthermore, by virtue of section 2B of the
General Proclamation of 1884, the common law of South Africa is applicable in Lesotho so
it is important to examine the changes that South Africa has made to it common law on
which Lesotho mostly relies.
The results show that the clients in Lesotho are to a very large extent left unprotected
against insurance advisors as the current legal framework offers them no protection. The
legal framework in South Africa on the other hand affords clients more protection.
However, economic position of Lesotho it would not be ideal to take all measures
applicable in South Africa and apply them to Lesotho as they are. Based on these findings
recommendations made include that the Commissioner must engage in consumer
education to ensure that clients know about their rights in dealings with insurance
advisors. Another recommendation made is that the current legal framework be amended
to include provisions relating to the protection of clients. It is also recommended that the
Central Bank of Lesotho is well equipped to deal with matters relating to the protection of
clients. / LLM (Estate Law), North-West University, Potchefstroom Campus, 2015
|
63 |
What academic advisors need to provide better student support : lessons from a Malaysian medical schoolTan, Christina P. L. 12 1900 (has links)
Thesis (MPhil)--Stellenbosch University, 2011. / ENGLISH ABSTRACT: Background: Academic support programmes have an important part to play in addressing
the needs of students experiencing difficulties. A quality assurance exercise by the national
accreditation body highlighted the fact that academic staff involved in non-academic
counselling had no prior training.
Aim: The aim of this study was to evaluate the academic advisor programme in a Malaysian
medical school from the academic advisors’ perspective in order to determine their
understanding of their role, their experiences and needs.
Method: Focus group discussions (FGDs) involving 10 academic advisors were conducted
using a semi-structured interview schedule.
Results: Study participants demonstrated some instinctive understanding of their role
(especially as role models in their professional development) although they did not have
clear guidelines. They strongly expressed a need for training in counselling skills and better
administrative support. There was some reluctance to undertake the task of academic
advising as there were no perceived rewards or incentives.
Conclusions: The training of academic advisors needs to be addressed in faculty
development programmes. Strong institutional administrative support is important with
efficient channels of communication to academic advisors on student performance and other
relevant information. Teaching activities need due institutional recognition and reward. / AFRIKAANSE OPSOMMING: Geen opsomming
|
64 |
Are some fund managers better than others : the relationship between manager characteristics and fund performanceFriis, Leonarda B. 12 1900 (has links)
Thesis (MBA)--Stellenbosch University, 2003. / ENGLISH ABSTRACT: This paper investigates fund manager performance in order to determine whether some
fund managers are better than others. The focus of the paper is to examine if fund
performance is related to the characteristics of fund managers that may indicate ability,
knowledge, or effort.
The data consists of South African regulated unit trust growth and growth-and-income
funds investigated over a seven-year period, and comprehensive and detailed information
on the various fund managers supplied by the MoneyMate database from the University
of Stellenbosch.
The research objective has been to find out whether fund manager characteristics help
explain fund performance and risk. Stepwise regression analysis as the research
methodology is applied, where the two dependent variables, performance and risk, are
regressed on the eight independent variables; manager age, tenure of the manager with
the fund, years of education, whether the manager hold a MBA or CA/CFA qualification,
management team size, fund age and fund objective.
The findings of the study are highly significant and show that fund performance and risk
are impacted upon by managers' qualifications. One can expect better risk-adjusted
performance from a fund manager who holds a CA/CFA and/or MBA qualification.
Results show that these managers outperform managers without these qualifications. / AFRIKAANSE OPSOMMING: Hierdie studie ondersoek fondsbestuurder prestasie met die doel om te bepaal of sommige
bestuurders beter is as ander. Die fokus van die studie ondersoek of fondsprestasie
verband hou met die eienskappe van fondsbestuurders.
Die data bestaan uit Suid-Afrikaanse effektetrust groei en groei-en-inkomste fondse
bestudeer oor 'n periode van sewe jaar, en omvattende besonderhede van die
fondsbestuurders soos verskaf deur die MoneyMate databasis van die Universiteit van
Stellenbosch.
Die doel van die navorsing is om bewyse te vind wat mag aandui dat fondsbestuurdereienskappe
wel fondsprestasie en risiko's kan beïnvloed en verduidelik. Die metode van
stapsgewyse regressie word toegepas, waar die impak van die agt onafhanklike
veranderlikes (ouderdom van die fondsbestuurder, sy jare by die fonds, sy aantal jare van
tersiêre onderrig, of die bestuurder 'n MBA of CA/CFA kwalifikasie besit, spangrootte,
ouderdom van die fonds en die fonds se doelstelling) op die twee afhanklike
veranderlikes (prestasie en risiko) ondersoek word.
Die bevindinge van die studie is hoogs betekenisvol en dui daarop dat 'n fonds se
prestasie en risiko's wel beïnvloed word deur die kwalifikasies van die fondsbestuurder.
Beter risiko aangepaste prestasies kan verwag word van bestuurders wat 'n MBA en/of
CA/CFA kwalifikasie besit. Die resultate toon wel dat fonds bestuurders ander
bestuurders uitpresteer wat nie daardie kwalifikasie besit nie.
|
65 |
Localising a global brand within the financial services industry : with a focus on Franklin Templeton Investments in South AfricaBotha, Jaco 03 1900 (has links)
Thesis (MBA)--Stellenbosch University, 2013. / Expanding business operations and exploring additional sources of revenue to ensure
sustainability and longevity are some of the key business drivers of any organisation. These drivers
have many organisations consider the opportunity of expanding business operations to foreign
territories.
Some of the major challenges when expanding business operations to new territories are those of
competing against local brands in the same industry or introducing a whole new product or service
to a new market. It therefore seems much of a demand versus supply consideration when
organisations do decide to venture to new territories. Introducing a whole new product or service to
a new market addresses the demand issue based on the premise that a need for this product or
service exists. The existence of competition, not only directly with industry related brands but also
other brands, addresses the supply of the particular product or service. This demand and supply
dynamic forms the basis of this research paper.
Given this context, considering the complexities of a new market from both an internal business
and external industry point of view, is critical in establishing if an opportunity set exists in this new
potential market which can be exploited. Once the opportunity set has been confirmed,
organisations can shift their focus to the intended business and brand management strategy to be
followed when entering this new market.
Product and service organisations do, however, face many different challenges when entering new
markets. One of the primary differences is that of tangibility of their respective offerings. This
complexity leaves services organisations with few instruments to leverage in competing against
product providers for the share of wallet of the consumer. As consumers associated with products
and services do not have a tangible product per se, the emphasis is placed on the brand of
services organisations as the associative connection from a consumer point of view.
Given the two mentioned concepts of entering new markets and different challenges which product
and service providers face when doing so, the contextual environment of this study is set in the
Financial Services Industry. This study explores the key considerations that financial services
organisations should be cognisant of, from a branding point of view, when entering new markets.
|
66 |
A comparison of management and financial advisors' perceptions of performance motivators in the long term insurance industry.24 April 2008 (has links)
Today’s organisation competes in a fast-moving global marketplace. With technological developments, global communications and demanding customers driving increased competition in most sectors, organisations cannot afford to stand still for long (Holbeche, 2004:32). They exist only when their products and services are sold, and salespeople are usually one of the most important elements of making this happen. Organisations’ fiscal health depends on their ability to drive revenue, but without mastering sales management, revenue can quickly decline. Salespeople need to concentrate on sales, not on responsibilities that pull them in different directions (Bailor, 2004:53). According to Clarke (1998:29), for any company to succeed, the various departments must co-ordinate their efforts and work together. The sales team relies on other departments for support; without sales every other department is worthless. The method of selling has also changed and the days of salespeople carrying briefcases overstuffed with brochures and knocking on every door they can find to drum up interest in their organisations’ products are waning. Today’s professional salespeople co-ordinate the resources of their companies to help solve customers’ problems (Weitz et al, 2004:5). For organisations to succeed in this new environment the right organisational climate is vital to create high performance. This is about making the most of employee talents and accountabilities, and managing performance in ways which unleash, rather than constrain, employee potential (Holbeche, 2004:32). 2 The Long Term Insurance Industry in South Africa had to deal with the changing environment and the introduction of the Financial Advisor Intermediary Service Act of 2002 (FAIS). The traditional principles of successful sales are being challenged in a changing South African insurance industry. Sales managers must rethink their philosophies as the Financial Advisory Intermediary Act (37/2002) regulates the rendering of certain financial advisory and intermediary services to clients and provides for matters incidental thereto. Sales managers can no longer simply motivate financial advisors to achieve targets but should also ensure that all new business is compliant and falls within the new legislation. According to Natenberg (2004:1), sales managers must have a purpose to cope with the added challenges and demands because success comes from purpose. Until a sales manager or financial advisor recognises what needs to be accomplished, there will be a lack of motivation necessary to accomplish anything. Financial advisors burn out easily because they cannot visualise the pot of gold at the end of the rainbow. Everyone wants a driven, highperformance sales team. However, not all sales leaders know how to achieve that. The problem could be motivation. Many sales managers see money as the answer to their motivational problem but money is not everything. For all their commitment to keep salespeople inspired, sales managers would do well to stop and consider the simple things their financial advisors desire. Only then might sales managers be able to craft programmes or work situations in which sales people can thrive (Gilbert, 2003:30). “Too often people let life pass them by. They try hard to achieve something, but when they do, they ask, “Is this all there is to it?” That is because they never 3 take a moment to enjoy how monumental their achievements are. When you accomplish what you set out to do, be proud” (Natenberg, 2004:1). / Prof. Chris Jooste
|
67 |
The adaptability of academic advising teams in higher educationUnknown Date (has links)
The purpose of this single site case study was to identify how four advising teams in a medium-sized public university adapt to the changes presented to them and what role leadership and culture play in that adaptation. This was accomplished through analysis of advisor and administrator interviews, office and meeting observations, and reviews of documents relating to advising and university changes in curriculum and systems. The study was guided by team culture and the five core adaptation strategies described by Eckel and Kezar (2003). The study indicates that although part of the same institution, each advising team has a unique culture and approach to doing their work. In turn each team has a different approach to their adaptation to the change that affects them. The study began with an examination of how and if the advising teams use the five core adaptation strategies described by Eckel and Kezar (2003). It was found that these adaptation strategies were not utilized because they require authority and the advisors do not have the organizational control necessary to use these strategies. However, the study revealed that the advising teams adapt to their environment through coping mechanisms depending on the type of adaptation. It was also found that the responses the advising teams have to particular change events depends on when they find out about the change as well as the culture and leadership of the teams. Consequently, their resilience to changes is a result of their ability to either absorb the change or alter their system quickly in reaction to the change. Implications are presented for universities and the advising teams in addition to recommendations for future study. / by Leigh A. McFarland. / Thesis (Ph.D.)--Florida Atlantic University, 2011. / Includes bibliography. / Electronic reproduction. Boca Raton, Fla., 2011. Mode of access: World Wide Web.
|
68 |
Time Frame and its Impact on Commodity Trading Advisor PerformanceThomas, Nordia D 03 May 2004 (has links)
This thesis explores the idea that time frame is an important determinant of commodity trading advisor (CTA) performance. Results allow us to reject the hypothesis that short-term price movements may be due only to noise, thus CTAs will have the same performance regardless of time frame. Using several performance measures and multi-factor models we find instead that CTAs who focus on short-term price changes are better positioned to benefit from advances in financial information processing and trade execution technology.
|
69 |
Financial advisors' perceptions of ethical and effective attitudes and behaviour in their professionCatania, Gottfried January 2017 (has links)
Unethical behaviour is a concern in the workplace, because of the possible consequences for all stakeholders. This issue is particularly salient in the financial services sector, a highly regulated environment, where breaches of the regulations can result in large fines and reputational damage to the organisation concerned. Unethical behaviour can also have severe effects on customers, such as when inappropriate advice leads to customers losing all or a large part of their savings. Empirical studies have tended to focus mostly on organisational antecedents of unethical intentions and behaviour, with individual factors not being given that much attention. Research on the antecedents of unethical intentions and behaviour has produced inconsistent findings, suggesting that context might play a role. Consequently, my research has attempted to study the individual antecedents of unethical intentions and behaviour in the financial services industry, a specific context where it is salient. Malta presents a particularly pertinent context for this study, as its profile on Hofstede's cultural dimensions scale has been empirically linked to a higher potential for engaging in unethical behaviour.
|
70 |
Professional doctoral students and the doctoral supervision relationship : negotiating difficultiesKirkland, Margot Anne January 2018 (has links)
This research considers the experiences and difficulties that professional doctoral students face and the supervision relationship. Winnicott’s psychoanalytical ideas are used to understand and make sense of the less visible dynamics that shape the professional doctoral students’ narratives. Semi-structured interviews are used to sensitively explore in-depth the nature of difficult experiences. The method of analysis was both compatible with the psychoanalytical theoretical perspective and with the qualitative interview method. The analysis provided an opportunity to listen to and make sense of the professional doctoral students’ narratives in four different ways. The thesis begins with a review of the wider doctoral education research context. Changes, taking place in that context, are considered, looking particularly at the impact of the knowledge economy on doctoral educational research in general and, more specifically, on professional doctoral educational research. Literature within doctoral education highlights supervision models and psychoanalytical supervision models designed for doctoral supervision practice and doctoral student support. Key findings relate to the professional doctoral students’ expectations and the perceptions that shape their difficult experiences. Firstly, professional doctoral students have little knowledge of doctoral supervision before beginning their first doctoral supervision relationship. The professional doctoral students’ expectations and perceptions influence their supervision relationships. When the professional doctoral students negotiate their expectations, they experience a productive working supervision relationship. However, when professional doctoral students exclude difficult experiences from their supervision relationships they do not get an opportunity to make sense of their experiences. Informal pastoral support, such as cohorts, peer groups and families, provide additional space for the professional doctoral students to talk about their difficult experiences. However, this thesis shows that informal support does not provide an academic framework for the professional doctoral student to understand their difficult experience within a doctoral research context. In contrast, this research suggests that the supervision relationship between the professional doctoral student and the supervisor can offer a supervision space informed by Winnicott’s psychoanalytical ideas. In this space supervisors and supervisees can explore difficult professional doctoral student experiences in a creative, playful and academic environment. The thesis concludes by considering the implications for doctoral supervisors and for professional doctoral students. In doing so, I offer recommendations that include points to consider for Higher Education policy, professional doctoral education and supervision training.
|
Page generated in 0.0466 seconds