Magis Capital (Pty) Limited Disclosures
Licensing
We are licensed by the Financial Sector Conduct Authority to provide digital financial advice. Our FSP number is 50257 and our company registration number is 2014/120658/07.
We are a licensed Category 1 FSP and authorised to provide advice and intermediary services in the following subcategories:
- Short-term insurance personal lines
- Short-term personal lines A1
- Short-term insurance commercial lines
- Short-term deposits
- Long-term insurance subcategory A
- Long-term insurance subcategory B1
- Long-term insurance subcategory B1-A
- Long-term insurance subcategory B2
- Long-term insurance subcategory B2- A
- Long-term insurance subcategory C
- Long-term deposits
- Pension fund benefits
- Retail pension benefits
- Participatory interests in a collective investment scheme
Our place of business
Office B11, 1st Floor, Atterbury House
Hampton Office Park
20 Georgian Crescent
Bryanston, Sandton
2191
Our contact details
Telephone number: +27 10 825 4424
Mobile number: +27 82 372 5256
Our website address: www.magiscapital.com
For information: [email protected]
For complaints: [email protected]
For compliance: [email protected]
Our compliance officer
Our compliance function is outsourced to:
Glenn Burjins
Telephone number: +27 21 906 2189
Email address: [email protected]
Practice number: 7307
Basis of our advice
All our advice is provided digitally.
We start off by understanding the client’s needs based on what they indicate they want. This is followed by detailed questions on the solutions they are looking for. In addition to this, we interpose our advice and finally ask other financial services providers (insurance companies, banks, investment managers etc.) to quote for providing the solutions required by the clients and based on our advice. We digitally rate the financial services providers against the required service and solution using our internal algorithms. We present the best proposals to the client with our clear recommendation. We disclose the names of the proposing parties with details of their proposals and the attendant costs to the clients. We also disclose exclusions and penalties. Ultimately the client makes the choice of provider. All of this is done digitally.
We endeavour to be contracted to most of the financial services providers so that we can offer best of breed advice to our clients.
Basis of our remuneration
We charge a commission to the financial services providers based on the premiums they receive from our clients based on the regulated rates. This commission is based on ongoing premiums (As and When commission). Our commission structures are the same per product, irrespective of the financial services provider.
We only recommend the financial services provider that provides the best solution that best meets the client’s, all things considered.
In addition, we charge a fee to the financial services providers for outsourced services for the tasks we perform on their behalf.
Relationship with financial services providers that offer solutions to our clients
We are independent of all the financial services providers that provide solutions to our clients.
Our shareholders are individuals and entities that are independent from financial services providers that offer solutions to our clients.
Professional indemnity cover
We carry adequate professional indemnity cover.
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Get in Touch
- 86 Eccleston Crescent, Bryanston 2191
- [email protected]
- +27 10 825 4424
- +27 82 372 5256