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Financial Advisory Services
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Nerina Visser and Mike Brown are FSB licensed Financial Services Providers
(FSPs) that can provide advice on portfolio construction and management of
ETF portfolios, but only once the financial needs and objectives of the
investor have been analysed. In order to provide financial advice, the
Advisor needs to have certain information about the client including: their
financial circumstances; knowledge of financial products; future financial
needs & objectives; age; risk profile and future income requirements.
With some 60 years of combined experience in the financial services
industry in South Africa, with the past two decades devoted to ETFs, Mike
and Nerina are uniquely positioned to make the most of ETF investments for
all investors.
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Business Consulting Services
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Background
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Mike Brown was one of the instigators of the Exchange Traded Product
industry in South Africa. Employed at Gensec Bank at the time, he was
responsible for the launch of the Satrix 40 as the first South African
listed ETF in November 2000. Satrix went on to list six further ETFs during
his association with that company. In 2004, Mike helped restructure Satrix
as a Collective Investment Scheme to take advantage of the new Collective
Investment Scheme legislation. The structure of registering funds under a
Collective Investment Scheme (CIS) Manco and listing the CIS portfolios on
the JSE as ETFs has subsequently been followed by other South African
issuers of ETFs.
Nerina Visser set up the Beta Solutions (ETF based) business for the
Nedbank Group and listed their first products on the JSE and Botswana Stock
Exchanges.
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Services Offered to ETP issuers
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Product Origination
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- Advice on product opportunities, gaps in the SA market, investor
demand for certain products.
- Approaches to the regulators (JSE and FSB) to gain initial approval in
the registration and listing process for new products.
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Product Structure and Documentation
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- Provide advice and product concepts for ETPs that will obtain approval
under local regulations.
- Obtain tax and other legal advice and opinions if required. Prepare
documentation and schedules for the formal listing process.
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Listing Process
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- Facilitate the JSE listing process and the CIS registration procedures
with the FSB, in conjunction with the Sponsors.
- Handle any queries or additional requirement by the regulators.
- Obtain approval from South African Reserve Bank (Exchange Control) and
Strate (listing regulation).
- Help appoint and brief service providers and draw up required
agreements for:
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- Custodians
- Administrators
- Transfer Secretaries
- Participating Stockbroker
- Trust Deeds
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IPO and Launch
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- Prepare marketing strategies for product launch with relevant media
publicity, client roadshows, stockbroker briefings and institutional
visits.
- Prepare marketing material and IPO process documents.
- The services of etfSA and participating stockbrokers in the IPO
process can be coordinated and monitored.
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Fees
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- The services above can be provided on a modular basis for certain
services only, or as an overall basis to design and deliver ETP
products.
- Fees are calculated on the basis of hours worked by the Consultancy,
but this can be fixed up-front and negotiated in advance if require.
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This consulting service is also provided to and has been utilised by other
stock exchanges, particularly in Africa, looking to set up their own ETP
listings.
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