RSA. (where no South African ID number is available) GREENLIGHT FUTURE REMUNERATION CHANGE (FOR AS-AND-WHEN COMMISSION ONLY)

Transcription

1 RSA IAN INTERMEDIARY APPOINTMENT NOTE Please print in block letters using black or blue ink. Please complete and fax to Please ensure compulsory Sections A and G are completed. Sections B, C, D, E and F are specific to the products within your portfolio. Should Section E and/or F not be completed, no intermediary appointments will be captured on your Unit Trust and/or Old Mutual Wealth and Investment Frontiers investments. COMPULSY SECTION Specify at least one policy in the client s portfolio for identification purposes only. Contract, Policy or Account number SECTION A Identity number PREFERRED SERVICE INTERMEDIARY ALLOCATION - APPLIES TO FULL PTFOLIO COMPULSY SECTION (Non-completion of this section will result in no action being taken) Client Details Initials Surname/Legal entity First names Registration number Passport number Country of issue of passport Income tax number (where no South African ID number is available) (only applicable to income products) At least one contact number Work telephone Code No. Cellphone number Home telephone Code No. address New Intermediary Details Intermediary code Surname Name At least one contact number Work telephone Code No. Cellphone number Home telephone Code No. address SECTION B GREENLIGHT FUTURE REMUNERATION CHANGE (F AS-AND-WHEN COMMISSION ONLY) GREENLIGHT Risk Benefits Premium Protection Benefits on GREENLIGHT Focussed Savings, Max Investments Focussed and Max Investments Optimal plan Complete this section if you would like to change the recipient of all future commission. NOTE: Commission on traditional Annualised GREENLIGHT cases are not transferable. The intermediary selected below, to whom commission will be paid in future, will replace all the existing intermediary(ies) currently receiving commission. The commission option cannot be changed. Any future commission will be paid based on initial commission options selected at inception. Commission will be paid on any premium increases. It will be calculated on the same basis. REMUNERATION DETAILS F YOUR GREENLIGHT RISK BENEFITS Intermediary name Intermediary code Sales centre code Distribution channel External ref no. Contract number 1

2 SECTION C FUTURE REMUNERATION SCALE Max Investments Select Investment Plans and GREENLIGHT Select Savings Benefit Investment Horizons Single Premium Investment Plans and GREENLIGHT Single Premium Savings Benefit (0-100%) of 0.575% (0-100%) of 0.575% Max Income Invested Funded Income Plans (0-100%) of 1.15% SECTION D MAX INVESTMENTS OPTIMAL, FOCUSSED AND FLEXIBLE PLANS, OLD MUTUAL INVEST TAX FREE AND FLEXIBLE PLANS: FUTURE REMUNERATION SCALE Optimal Investment Plans Focussed Investment Plans Flexible Investment Plans (Once-Off and Scheduled) Old Mutual Invest Tax Free Plan Old Mutual Invest Flexible Plan A. CHANGE SCALING complete this section if you would like to change the scaling and/or commission/fee split between upfront and commission. This change will be effective on: i) the next premium due date for Optimal, Focussed and Flexible Schedule Investment Plans; ii) the next premium due date for Old Mutual Invest Tax Free and Flexible Plans; iii) the next asset commission payment date for Flexible Investment Plans (once-off and scheduled). COMMONLY SELECTED REMUNERATION RATES The following maximum remuneration rates will be paid if is selected. Optimal Investment Plan Paid at start of contract* (upfront) LIFE: Retirement Annuity 2.5% of each premium 2.5% of future premiums * The remuneration at the start of the contract will be the present value of this amount. Focussed Investment Plan Paid at start of contract* (upfront) LIFE: Retirement Annuity LIFE: Pure Investment 2.5% of each premium 2.5% of each premium 2.5% of future premiums 2.5% of future premiums LISP: Pure Investment ( Fee) 2.85% of each premium 2.85% of future premiums * The remuneration at the start of the contract will be the present value of these amounts. Flexible Investment Plan LIFE: Retirement Annuity LIFE: Pure Investment LISP: Pure Investment 3% of each premium 3.45% of each premium 3.45% of each premium Monthly (asset) (Investment Review Fee) (Commission/Investment Review Fee) (Investment Review Fee) On each amount payable Ongoing advice fee LIFE: Tax Free Plan % of each amount payable % p.a. nominal LISP: Flexible Plan % of amount payable % p.a. nominal 2

3 Optimal Investment Plan upfront The total of the and upfront commission scaling must be 100% or less. The above blocks represent the total of a maximum premium remuneration payable, i.e. 5%. Focussed Investment Plan upfront The total of the and upfront commission scaling must be 100% or less. The above blocks represent the total of a maximum premium remuneration payable, i.e. 5%. Flexible Investment Plan (Scheduled Investment) (please specify) (0-100%) VERY IMPTANT: If one of the above options are not selected, the application will not be processed. Flexible Investment Plan (Asset for Once-off and Scheduled Investments) ongoing (please specify) (0-100%) Old Mutual Invest Tax Free Plan ongoing The sum of the scaling of the and the ongoing advice fee must not be equal to more than 100%. Old Mutual Invest Flexible Plan ongoing The sum of the scaling of the and the ongoing advice fee must not be equal to more than 100%. VERY IMPTANT: The on future premium increases will be paid according to the same scaling selected above. If one of the above options are not selected, the application will not be processed. The remuneration selected above must reflect the commission percentage values. B. CHANGE RECIPIENTS complete this section if you would like to change the recipient(s) of all future commission. NOTE: The intermediary(ies) selected below, to whom commission/fees will be paid in future, will replace all the existing intermediary(ies) currently receiving commission/fees. This change will be effective on: i) the next premium due date for Optimal, Focussed and Flexible Schedule Investment Plans; ii) the next premium due date for Old Mutual Invest Tax Free Plan or Old Mutual Invest Flexible Plans; iii) the next asset commission payment date for Flexible Investment Plans (once-off and scheduled). REMUNERATION DETAILS F YOUR OPTIMAL, FOCUSSED FLEXIBLE INVESTMENT PLAN, OLD MUTUAL INVEST TAX FREE PLAN OLD MUTUAL INVEST FLEXIBLE PLAN Name code Sales centre code share split % Distribution channel External ref no. Plan number Indicate staff or independent contractor:* * Please note that the maximum remuneration payable to staff members or independent contractors equates to 40% of total remuneration payable. Independent contractors, please refer to practice note and/or Independent Contractor (IC) booklet regarding remuneration sharing details. 3

4 SECTION E UNIT TRUSTS SPECIFIC ADVISER FEES INITIAL ADVISER FEES Confirmation of existing initial adviser fees paid on recurring investment instructions in your unit trust portfolio. Please select one of the following: 1. I wish to change the payment of the existing initial adviser fees to my new servicing intermediary as notified in this form on page I wish to keep the adviser fee payment to the existing intermediary on record. 3. I wish to stop all existing adviser fee payments on my existing recurring investment instruction in my unit trust portfolio. TO CHANGE RATE OF INITIAL ADVISER FEE An initial adviser fee has been agreed upon, with my new servicing intermediary, as follows (subject to the maximums of each unit trust, stipulated on the specific unit trust fund in the fund factsheet). The Effective Annual Cost (EAC) is a standard industry measure for your information and to facilitate comparing the cost of an investment over specific periods. (Visit HYPERLINK for more information and to access the EAC illustrator.) The EAC of your investment will be confirmed to you in writing once your instruction has been processed. Note: The applicable adviser fee amount is deducted prior to the purchase of units. (incl. VAT) for equity/asset allocation unit trusts and recurring contributions into the Old Mutual Unit Trusts Retirement Annuity Fund % (max. 3.45% incl. VAT) % (incl. VAT) for fixed income unit trusts (max. 0.69% incl. VAT) ANNUAL ADVISER FEE (AAF) 1. Old Mutual Unit Trusts Standard Investments I instruct you to deduct an annual adviser fee of. % (max. 1.15% p.a. ) of my Standard Unit Trust Portfolio. 2. Old Mutual Unit Trusts Tax-Free Investments I instruct you to deduct an annual adviser fee of. % (max. 1.15% p.a. ) of my Tax-Free Unit Trust Portfolio. 3. Old Mutual Unit Trusts Retirement Fund Investments I instruct you to deduct an annual adviser fee of. % (max. 1.15% p.a. ) of my Retirement Annuity Unit Trust Portfolio. 4. Old Mutual Unit Trusts Preservation Fund Investments I instruct you to deduct an annual adviser fee of. % (max. 1.15% p.a. ) of my Preservation Fund Unit Trust Portfolio. * This annual fee is calculated as a percentage of the value of your unit trust product portfolio. The Old Mutual Albaraka Equity Fund, Old Mutual Income Fund A3 and Old Mutual Balanced Fund A3 are excluded as they may pay a trail fee out of their annual service fee. The annual adviser fee is deducted monthly, through the sale of units within each unit trust. This is thus a capital gains tax event. Where investments are held in more than one class in the same unit trusts, the fee will be deducted from the class open to new business (unless the closed unit trusts class is stipulated above). You will receive confirmation of the implementation of this fee, any adjustments made to the annual percentage or to the unit trusts, as well as the cancellation thereof. This fee is based on an agreement between the client and the intermediary. You need to take into account whether your intermediary is VAT registered. Old Mutual Unit trusts is not a party to the agreement and will cancel the fee on the written instruction of either party. The fee will further be cancelled by a change in servicing intermediary. Old Mutual Unit Trusts will change any erroneous instructions received, but will not rectify prior payments based on erroneous instructions. 5. Old Mutual Unit Trusts Living Annuity Please deduct an annual adviser fee* of. % (max. 1.15% p.a. ) of my Old Mutual Unit Trusts Living Annuity s market value as at the investment start date and thereafter on the anniversary date. * This annual fee is calculated as a percentage of the value of all your member-owned Old Mutual Unit Trusts Living Annuity (OMUTLA) as at your last investment anniversary date. It excludes the Old Mutual Albaraka Equity Fund, Old Mutual Income Fund A3 and Old Mutual Balanced Fund A3 as they pay a trail fee out of their annual service fee. This annual adviser fee is deducted from your scheduled annuity payments after tax has been deducted and paid to your servicing intermediary. Payment of this fee starts on your next annuity payment. You will receive confirmation of the implementation of this fee, any adjustments made to the annual percentage or to the unit trust, as well as the cancellation thereof. This fee is based on an agreement between the client and the intermediary. You need to take into account whether your intermediary is VAT registered. Old Mutual Unit Trusts is not a party to the agreement and will cancel the fee on written instruction of either party. The fee will further be cancelled by a change in servicing intermediary. Old Mutual Unit Trusts will change any erroneous instructions received, but will not rectify prior payments based on erroneous instruction. 4

5 SECTION F OLD MUTUAL WEALTH AND INVESTMENT FRONTIERS SERVICE FEE REALLOCATION Please note: Old Mutual Wealth and Investment Frontiers selected products service fees will be VAT inclusive. I hereby: 1. Cancel the appointment of my current servicing intermediary and appoint the above person as my contracted servicing intermediary for Old Mutual Wealth and/or Investment Frontiers. 2. Acknowledge that only contracted and licensed intermediaries may be appointed and that my signature below confirms that I have seen which products the intermediary is accredited to sell in terms of his/her FAIS license. Please complete either A or B: A B UNCHANGED FEES The existing intermediary fees applicable will remain unchanged on my full Old Mutual Wealth and/or Investment Frontiers portfolio. CHANGED FEES I hereby acknowledge that the following new service fees (paying products only) will be paid to the newly appointed intermediary. Please indicate below: Annual intermediary fee % Annual intermediary fee % 3. I acknowledge that should any of these fee blocks not be completed, the existing fee percentage will apply. SECTION G SIGNATURE COMPULSY SECTION I hereby acknowledge that the above intermediary, as appointed, is my preferred service intermediary. Signed at on this day of 20 Signature of client If this section is not signed and completed, no action will be taken. This Appointment Note is valid for 3 months from the date the customer signs the form. PROTECTION OF PERSONAL INFMATION ACT (POPIA) NOTICE The Old Mutual Group would like to offer you ongoing financial services and may use your personal information to provide you with information about products or services that may be suitable to meet your financial needs. Please SMS your ID number to if you would prefer not to receive such information and/ or financial services. We may use your information or obtain information about you for the following purposes: Underwriting Assessment and processing of claims Credit searches and/or verification of personal information Claims checks (ASISA Life & Claims Register) Tracing beneficiaries Fraud prevention and detection Market research and statistical analysis Audit & record keeping purposes Compliance with legal & regulatory requirements Verifying your identity Sharing information with service providers we engage to process such information on our behalf or who render services to us. These service providers may be abroad, but we will not share your information with them unless we are satisfied that they have adequate security measures in place to protect your personal information. You may access your personal information that we hold and may also request us to correct any errors or to delete this information. In certain cases you have the right to object to the processing of your personal information. You also have the right to complain to the Information Regulator, whose contact details are: Website Contact Number Fax inforeg@justice.gov.za To view our full privacy notice and to exercise your preferences, please visit our website on Old Mutual is a Licensed Financial Services Provider 5