Money Smart Week South Africa: How bad advice can affect one’s financial future

In an effort to enhance consumer financial awareness, the Financial Advisory and Intermediary Services (FAIS) Ombud will participate in Money Smart Week South Africa, which will be held from August 28 to September 3, 2023. This year’s theme, “Plan your money, plant your future,” is a testament to the crucial importance of making informed financial decisions to ensure a secure financial future.

Under this theme, the FAIS Ombud aims to highlight the impact of poor advice on one’s financial future. In a world where consumers often rely on financial advisors for sound guidance, the advice one receives while purchasing financial products or planning for the future holds significant importance in helping them make informed financial choices.

During Money Smart Week 2023, the FAIS Ombud will host a series of events aimed at raising consumer awareness about the importance of recognizing sound financial advice. The campaign seeks to empower consumers with the tools to navigate the complex world of financial products, ensuring they have the confidence to ask questions and seek clarification before committing to any financial arrangement.

The FAIS Ombud will utilize various platforms to disseminate valuable information during the week. Activities will occur on community radio stations, social media platforms, and a dedicated webpage. Through these channels, consumers can participate in conversations, access informative content, and gain insights into making better financial choices.