21 Questions when selecting an Umbrella Fund

What are umbrella funds? Why umbrella funds? What are the costs involved? These are just some of the questions that the '21 Important Questions To Ask Your Broker Or Financial Advisor' booklet provides you the answers to.

As change sweeps South Africa's retirement fund industry it has become increasingly difficult for employers and employees to know what to expect from a retirement savings product. To ensure that South Africans are aware of their rights in terms of member representation, communication, good investment returns and sound financial advice, the Financial Services Board (FSB) and Sanlam Umbrella Solutions have developed a booklet entitled '21 Important Questions To Ask Your Broker Or Financial Advisor'. 

The booklet is freely available. It outlines key areas to be analysed when selecting an umbrella fund, including governance and member representation, fund sponsorship, member communications, investments, insured benefits, costs and advice. It offers insights into each of these issues, as well as advice on the questions which should be asked when researching funds.

By asking these questions it should become clear whether the fund is structured with the member in mind.