making absa linked investments (aims) · the making absa linked investments (aims) easy guide...

Making Absa Linked Investments (AIMS)

Easy Guide

Authorised Financial Services Provider Registered Credit Provider Reg No NCRCP7

Contents1. Overview Page 1

2. Functions Performed by Absa Linked Investments (AIMS) Page 1

3. Customer Experience Page 1

4. Submitting Instructions To Absa Linked Investments (AIMS)

5. Product Minimums Page 2

6. Timing Standards Page 3

7. Processing Requirements Page 6

8. Trigger Events Page 17

9. Escalation Process Page 26

10. General Information Page 27

2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

1. Overview

The Making Absa Linked Investments (AIMS) Easy Guide intends to provide information to wealth investment managers, financial advisers, adviser office, assistants and consultants. The purpose of this Making Absa Linked Investments (AIMS) Easy Guide is to provide information with regards to the customer experience, Absa Linked Investments (AIMS) processes, timing standards, requirements and general information.

2. Functions performed by Absa Linked Investments

AdministrationAbsa Linked Investments (AIMS) is responsible for processing the following instructions:• New Business• Maintenance • Switches• Repurchases• Transfers• Estates

Client CommunicationAbsa Linked Investments (AIMS) is responsible for distributing:• Valuation statements• Policy documents• Maturity letters• Revision letters• Tax certificates

Self Service Registration ProcessFollow the 4 easy stepsStep 1• Log on to www.absainvestments.co.za • Click Log on at AIMS in the top right hand corner• Click RegisterStep 2• Fill in your Financial Adviser Number in the box provided.• Fill in your Identity number or Company Registration Number in the next box

Step 3• Complete the registration form and click next.• Please read the terms and conditions on the verification page and confirm that you

have read them and accept them.• If you are satisfied that your information is correct click on “Register Now”.Step 4• You will be required to verify your email address on the link that will be emailed to

you.• Click on the link in this email to activate and complete your registration.

3. Customer Experience

Absa Insurance and Financial Advisers (AIFA)Client services: 0860 000 005Operating hours: Monday to Friday between 08:00 – 16:30Enquiries mailbox: [email protected] Escalations mailbox: [email protected] Complaints mailbox: [email protected]

Independent Financial Advisers (IFA)Client services: 0860 000 005Operating hours: Monday to Friday between 08:00 – 16:30Enquiries mailbox: [email protected] Escalations mailbox: [email protected] Complaints mailbox: [email protected]

Absa Wealth (AW)Client services: 0860 000 005Operating hours: Monday to Friday between 08:00 – 16:30Enquiries mailbox: [email protected] Escalations mailbox: [email protected] Complaints mailbox: [email protected]

Direct ClientsClient services: 0860 000 005Operating hours: Monday to Friday between 08:00 – 16:30Enquiries mailbox: [email protected] Escalations mailbox: [email protected] Complaints mailbox: [email protected]

4. Submitting instructions to Absa LinkedInvestments (AIMS)

Instruction SubmissionInstructions should be submitted to the relevant email address for processing.AIMS: [email protected] Estates: [email protected]: [email protected]

The following instructions should be sent to [email protected]:• New Business• Maintenance• Switches• Repurchases• Broker Onboarding

5. Product Minimums

ProductMinimumInvestment Amounts

Debit OrdersMonthly Withdrawals

Withdrawals

AIMS Investment Account R50 000.00 R1 000.00 YesYes – Discretionary Repurchase Form.

Absa Tax Free Savings Investments

R5 000.00R36000.00(Max annual)

R250.00 – CISR500.00 - ETF

NoYes – Discretionary Repurchase Form.

Islamic Investment Plan R50 000.00 R500.00 YesYes – Discretionary Repurchase Form.

Protected Outcome Growth

R150 000.00 N/A NoSubject to product rules.

Protected Outcome Income

R150 000.00 N/A YesSubject to product rules.

Absa Retirement Annuity R25 000.00 R500.00 No

Only below R7 000.00.Compulsory Withdrawal Form.

Linked Endowment R50 000.00 R500.00 NoSubject to product rules.

Offshore Investment Account

R100 000.00 No NoYes one withdrawal – Contractual Repurchase Form.

Absa Provident Preservation

R25 000. 00 N/A NoYes one withdrawal – Contractual Repurchase Form.

Absa Pension Preservation

R25 000. 00 N/A NoYes – Contractual Repurchase Form.

Absa Living Annuity R75 000.00 N/A Yes

Only less than R75 000.00 if no cash taken at retirement.

Linked Endowment – Structured Product

R250 000.00 N/A NoSubject to Endowment product rules.

Personal Shared Portfolio R50 000.00 No Yes

Yes – Subject to product rules. Only available in compulsory products.

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

6. Timing Standards

New Business

Business cut-off to receive an instruction

Process the instruction

Units purchased from specific Manco companies

Unit price received and applied to specific transactions

Client statement is available

Client policy document is checked, printed and posted to the client

New Business DiscretionaryBefore 13:00 (Day 0) Day 0 Day 1 Day 2 Day 3 Day 4

After 13:00 (Day 0) Day 1 Day 2 Day 3 Day 4 Day 5


Complete ROT and send to transferring company

Payment Received before 13:00, Instruction processed

Buy Units into the specific manco

Price received from specific manco and applied accordingly

Client statement is available

Policy document is generated and posted to the client

New Business ContractualBefore 13:00 (Day 0) Day 0 Day 1 Day 2 Day 3 Day 4 Day 5

After 13:00 (Day 0) Day 1 Day 2 Day 3 Day 4 Day 5 Day 6


Instruction processed and uploaded to the main frame

Policy document is generated and posted to the client

Trade is placed into market ever Monday

New Business Guaranteed ProductBefore 13:00 (Day 0) Day 0 Day 1 Day 2

After 13:00 (Day 0) Day 1 Day 2 Day 3

Maintenance

Business cut-off to receive the instruction


Instruction updates on system with the cession

Administer buy unitsUnit proce received from fund manager

Cession letter drafted and signed

Cession letter distributed to relevant parties

Reflect on the investor statement

CessionsBefore 13:00 (Day 0) Day 0 Day 1 Day 1 Day 2 Day 3 Day 4 Day 5

After 13:00 (Day 0) Day 1 Day 2 Day 2 Day 3 Day 4 Day 5 Day 6



Instruction updates in system

Talisman updated with the amendment & case finalized

AmendmentsBefore 13:00 (Day 0) Day 0 Day 1 Day 2

After 13:00 (Day 0) Day 1 Day 2 Day 3

Note: Fully compliant Guaranteed Product instructions and outstanding requirements have to be submitted to Absa Linked Investments (AIMS) before 13:00 on the last business day of the week, in order for the business to be processed at the current week’s rate.

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Switches



Sell unitsUnit price received from the fund manager

Buy unitsUnits price received from the fund manager

Switch price on administrative system

Reflect on investor statement

Switch Unit Trust Funds

Before 13:00

(Day 0)Day 0 Day 1 Day 2 Day 3 Day 4 Day 5 Day 7








Switch-out ETF

Before 13:00









Switch-in ETF

Before 13:00



Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Repurchases



Sell units

Unit price received from the fund manager

Reflect in investor bank account (Absa)

Repurchase

Discretionary

Before 13:00

(Day 0)Day 0 Day 1 Day 2 Day 3

After 13:00

(Day 0)Day 1 Day 2 Day 3 Day 4



Sell unitsUnit price re-ceived from the fund manager

Apply for tax directive

Receive tax directive from SARS

Edit taxReflect on investor statement

Repurchase

Contractual

Withdrawal

Before 13:00


After 13:00




Sell units – 1/3rd



Receive tax directive from SARS – 1/3rd

Edit tax


Receive ROT from trans-ferring company


Unit price received from fund manager

Edit zero tax

Proof of payment

Contractual

Retirement

1/3rd and

2/3rd

Before 13:00

(Day 0)Day 0 Day 1 Day 2 Day 2 Day 4 Day 4 Day 4 Day 9 Day 10 Day 11 Day 11 Day 11



Receive ROT from trans-ferring company





Receive tax directive from SARS – 3/3rd

Edit taxProof of payment

Contractual

Retirement

3/3rd

Transfer

Before 13:00

(Day 0)Day 0 Day 3 Day3 Day 4 Day 5 Day 5 Day 7 Day 7 Day 7

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

7. Processing Requirements

New BusinessAIFA Instructions

Requirements All ProductsOffshore Products

Retirement Annuities

Preservation Funds

Living Annuities

Endowment Products

Fully compliant and signed application form ✓

Copy of a deposit slip or proof of electronic transfer ✓

NASDAC Pass, not older than 30 days ✓

Tier 2 Pass, not older than 30 days ✓

Signed Mandate if investing into a managed / Wrap Portfolio ✓

SARS Income Tax number and / or valid tax directive where applicable ✓

Original MP1423 (for each currency converting to) ✓

MT103 (Proof of currency transfer) ✓

Original Tax clearance certificate (FIA001) - Only for Investments above R1 million ✓

Recognition of transfer (R.O.T.) ✓ ✓ ✓

Contractual Transfer form (applicable if Section 14 or Section 37 transfer) ✓ ✓ ✓

Adviser Fee Agreement (applicable if Section 14 into a Retirement Annuity) ✓

Valid signed quote ✓ ✓ ✓

Valid signed brochure/investment schedule ✓

Power of Attorney (Template available on Absa Investments site)• Copy of Identity Document of person receiving Power of Attorney• Copy of proof of address, not older than 3 months, of person receiving Power of Attorney

✓

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

IFA Instructions



Preservation Funds

Living Annuities

Endowment Products



Copy of recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) ✓

Copy of ID/Smart Card for South African citizens or passport if a foreign national ✓

Signed Mandate if investing into a managed / Wrap Portfolio ✓

SARS Income Tax number and / or valid tax directive where applicable



Original Tax clearance certificate (FIA001) - only for investments above R1million ✓



Adviser Fee Agreement (applicable if Section 14 into a Retirement Annuity) ✓ ✓ ✓

Valid signed quote ✓ ✓ ✓ ✓



✓

Life Company Agreements ✓ ✓

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Absa Wealth Instructions



Preservation Funds

Living Annuities

Endowment Products

Fully compliant and signed application form ✓Copy of a deposit slip or proof of electronic transfer ✓Group Introductory Certificate – if Wealth banking client ✓or

Original verified copy of recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) - if non-Wealth banking client

✓

and

Original verified copy of ID/Smart Card for South African citizens or passport if a foreign national – if non-Wealth banking client ✓

Signed Mandate if investing into a managed / Wrap Portfolio ✓SARS Income Tax number and / or valid tax directive where applicable ✓Original MP1423 (for each currency converting to) ✓MT103 (Proof of currency transfer) ✓Original Tax clearance certificate (FIA001) - only for investments above R1million ✓Recognition of transfer (R.O.T.) ✓ ✓ ✓Contractual Transfer form (applicable if Section 14 or Section 37 transfer) ✓ ✓ ✓Adviser Fee Agreement (applicable if Section 14 into a Retirement Annuity) ✓Valid signed quote ✓ ✓ ✓Valid signed brochure/investment schedule ✓


✓

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Direct Client Instructions

Requirements All Products Offshore Products


Preservation Funds

Living Annuities

Endowment Products



Original certified of recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) – posted or hand delivered to AIMS if EFICA fails

✓

Original certified of ID/Smart Card for South African citizens or passport if a foreign national – posted or hand delivered to AIMS if EFICA fails ✓

SARS Income Tax number and / or valid tax directive where applicable ✓



Original Tax clearance certificate (FIA001) - only for investments above R1million ✓



Valid signed quote ✓ ✓


Power of Attorney (Template available on Absa Investments site)• Copy of Identity Document of person receiving Power of Attorney• Copy of proof of address, not older than 3 months, of person receiving Power of Attorney ✓

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

MaintenanceInvestment AmendmentsAIFA, IFA, Absa Wealth & Direct Clients Instructions

Requirements All Products

Fully compliant and signed Investment Amendment Request form*Completion of Page 1 is mandatory. Only complete the required section thereafter. ✓

CessionsAIFA Instructions


Fully compliant and signed Cession form ✓

New Business requirements will apply for Outright Cession (NASDAC & Tier 2 Pass does not apply) ✓Copy of verified recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) ✓

Copy of verified ID/Smart Card for South African citizens or passport if a foreign national ✓

IFA Instructions



New Business requirements will apply for Outright Cession ✓Copy of verified recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) ✓

Copy of verified ID/Smart Card for South African citizens or passport if a foreign national ✓

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents




New Business requirements will apply for Outright Cession ✓

Group Introductory Certificate – if Wealth banking client ✓

or

Copy of verified recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) – if non-Wealth banking client ✓

and

Copy of verified ID/Smart Card for South African citizens or passport if a foreign national – if non-Wealth banking client ✓




New Business requirements will apply for Outright Cession ✓Original certified of recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) – posted or hand delivered to AIMS ✓

Original certified of ID/Smart Card for South African citizens or passport if a foreign national – posted or hand delivered to AIMS ✓

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents


Power of AttorneyAIFA & IFA Instructions


Fully compliant and signed Absa Power of Attorney form*Signed by the client and the adviser ✓

Group Introductory Certificate – if Wealth banking client

or

Copy of verified recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account (must not be older than 3 months) – if the adviser signed the declaration ✓

and

Copy of verified ID/Smart Card for South African citizens or passport if a foreign national – if the adviser signed the declaration. If non-Wealth banking client ✓

or

Original certified of recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) – posted or hand delivered to AIMS if the adviser did not sign the declaration. If non-Wealth banking client ✓



Fully compliant and signed Absa Power of Attorney form*Signed by the client and the advise ✓

Copy of verified recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) of the person receiving Power of Attorney – if the adviser signed the declaration ✓

Copy of verified ID/Smart Card for South African citizens or passport if a foreign national of the person receiving Power of Attorney – if the adviser signed the declaration ✓

or

Original certified of recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) – posted or hand delivered to AIMS if the adviser did not sign the declaration ✓


Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents



Fully compliant and signed Absa Power of Attorney form ✓

Original certified of recent utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) – posted or hand delivered to AIMS

✓


Living Annuity Income RevisionAIFA, IFA, Absa Wealth & Direct Client Instructions

Requirements Living Annuities

Income revision letter ✓

Income % or amount specified ✓

Income frequency specified ✓

The following rules apply to Living Annuity Income Revision requests:

• Absa Linked Investments (AIMS) does not accept Income amendment forms.• Absa Linked Investments (AIMS) does not accept old dated revision letter.• Instruction must reach Absa Linked Investments (AIMS) by the 15th [Business cut-off] of the revision month. If the client did not receive the income revision letter they can contact CSD to

resend the income letter. • Living Annuity Income Revision letters are also available on the advisers Electronic Interface (EI) profile.• Changes can still be done in the month of the revision.

SwitchesAIFA Instructions



Preservation Funds

Living Annuities

Fully compliant and signed instruction form ✓

NASDAC Pass, not older than 30 days ✓

Signed Mandate if investing into a managed / Wrap Portfolio – if open to non-intermediated clients ✓

Regulation 28 Calculation ✓

Valid signed quote ✓ ✓ ✓

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents



Fully compliant and signed Absa Power of Attorney form ✓Signed Mandate if investing into a managed / Wrap Portfolio

Regulation 28 Calculation ✓Valid signed quote

Valid signed brochure/investment schedule

IFA & Absa Wealth Instructions



Preservation Funds

Living Annuities

Fully compliant and signed instruction form ✓Signed Mandate if investing into a managed / Wrap Portfolio ✓Regulation 28 Calculation ✓Valid signed quote ✓ ✓ ✓

RepurchasesFull Discretionary Repurchases AIFA, IFA & Absa Wealth Instructions

RequirementsDiscretionary Products

Fully compliant and signed instruction form*Signed by the client ✓

Original certified copy of utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) *Only if the adviser did not sign the instruction and the address on the instruction differs to the address on record

✓

Original certified copy of ID/Smart Card for South African citizens or passport if a foreign national *Only if the adviser did not sign the instruction and the address on the instruction differs to the address on record

✓

*Discretionary Products – AIMS Investment Account, Islamic Investment Account, Tax Free Investment Account

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Contractual Repurchases AIFA, IFA & Absa Wealth Instructions

RequirementsRetirement Annuities

Preservation Funds

Living Annuities

Fully compliant and signed instruction form*Signed by the client and the adviser ✓ ✓ ✓

Tax number is completed on the instruction form ✓ ✓ ✓

Full Discretionary Repurchases Direct Client Instructions

RequirementsDiscretionary Products

Fully compliant and signed instruction form*Signed by the client ✓Original certified copy of utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) - posted or hand delivered to AIMS*Only if the address on the instruction differs to the address on record ✓Original certified copy of ID/Smart Card for South African citizens or passport if a foreign national - posted or hand delivered to AIMS*Only if the address on the instruction differs to the address on record

*Discretionary Products – AIMS Investment Account, Islamic Investment Account, Tax Free Investment Account

*Contractual Products – Retirement Annuity, Living Annuity, Pension Preservation, Provident Preservation (subject to supporting documents)

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Endowment Product Repurchases AIFA, IFA & Absa Wealth Instructions

RequirementsLiving Annuities

Fully compliant and signed instruction form*Signed by the client and the adviser ✓

Surrender quotation signed by the client*Only applicable to Guaranteed Products ✓

Original certified copy of utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) *Only if the adviser did not sign the instruction and the address on the instruction differs to the address on record

✓

Original certified copy of ID/Smart Card for South African citizens or passport if a foreign national *Only if the adviser did not sign the instruction and the address on the instruction differs to the address on record ✓

Endowment Product Repurchases Direct Client Instructions

RequirementsLiving Annuities

Fully compliant and signed instruction form*Signed by the client and the adviser ✓

Surrender quotation signed by the client*Only applicable to Guaranteed Products ✓

Original certified copy of utility bill, showing investor’s current residential address (e.g. municipal lights, water & rates account, telephone account – must not be older than 3 months) - posted or hand delivered to AIMS*Only if the address on the instruction differs to the address on record

Original certified copy of ID/Smart Card for South African citizens or passport if a foreign national - posted or hand delivered to AIMS*Only if the address on the instruction differs to the address on recordrd

*Contractual Products – Retirement Annuity, Living Annuity, Pension Preservation, Provident Preservation (subject to supporting documents)

*Endowment Products – Linked Endowment (normal and structured), Guaranteed Product

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

8. Trigger EventsAIFA & IFA Instructions

Additional Investment

Instruction Type Example of the Trigger Trigger Event Form Required by LISP

Addition Client wishes to place more money into his existing investment

Additions to an Investment Additions Form IndividualsIndividualsThese documents are only required if the information on the addition form differs to what LISP has on record A certified copy of the client’s identity document/ smart card as a primary means of identification if this is not available due to the ID being lost or stolen the following documents can be used:• Valid Passport or• Valid Driver’s license or• Valid Temporary identity document; • A valid proof of address refer to the change in address documents that may be used as proof of

address

Full Repurchase Instruction*Requirements only applies if the adviser did not sign the declaration on the instruction


Full Repurchase • Client Retires• Client gets divorced and as part

of the Divorce Order the invest-ments need to be split

• Client reaches Retirement age and Above - 100 % withdrawal

• Retirement prior to retirement age

• (Less than R 7,000.00)• Clients Emigrates• Full Withdrawal

Full Repurchase

Repurchase FormIndividualsThese documents are only required if the information on the repurchase form differs to what LISP has on record:A certified copy of the client’s identity document/ smart card as a primary means of identification if this is not available due to the ID being lost or stolen the following documents can be used:Valid Passport OR Valid Driver’s license OR Valid Temporary identity document;A valid proof of address refer to the change in address documents that may be used as proof of address

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Maintenance Instruction

Instruction Type Example of the TriggerTrigger Event

Form Required by LISP

Maintenance Name Change (Existing Client)

Individuals• Client gets married and her

surname changes.• Client gets divorced and

wishes to change her sur-name back to her maiden name

• Client applies to home affairs to have his/her first name changed

Entities• Company decides to change

its name with CIPC

Change in name

Fully Completed Amendment Form

IndividualsMarriage CertificateDivorce CertificateDrivers license with “new” surnameConfirmation from the Department of Home Affairs (letter etc.)

EntitiesCoR 15.1 – Notice of amendment. Name change certificateCM9 – Certificate if name change

Maintenance Resi-dential / Operating Address Change (Existing Client)

Individuals• Client has moved from his • existing house to a new

house

Entities• Client has moved his/her • business premises

Change in address

Fully Completed Amendment FormIndividuals & EntitiesAnyone of the documents listed as an acceptable/approved form of address this must be in the Individual/ Entities Name: • Utility bill (municipal water & lights account or Property Managing Agent statement) • Bank statement from another Bank on an official Bank document/form • Letter from Municipality confirming residential address/business address• Municipal councilors letter • Recent lease or rental agreement • Municipal rates & taxes invoice • Account statement from a NCR registered service provider (NCR number must be visible/recorded on the

document) • Security service providers registered with PSIRA e.g. Chubb, ADT (PSIRA number must be visible /recorded on

the document) • Telephone or cellular telephone account • Official SARS document (Not E Filing documentation) • Valid television license renewal letter • Television license renewal/confirmation letter • Subscription TV (e.g. Multichoice) statement • Home loan statement from another financial institution • Long/short term insurance policy documents from another Financial Services Provider (FSB number must be

visible/recorded on the document) • Motor vehicle registration/license documents • Body corporate/governing body letter or statement;

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

• Official employer letter for employees resident on company/institution premises • Official university/ technikon /college or tertiary institution registration letter • Physical Site visit conducted for Verification Purposes Confirmation for example Absa 3121 EX • Tribal authority letter confirming residential address/business address • Affidavit to Confirm Address for example Absa 3122 EX (only applicable to Individuals)• Confirmation of Business Address for a CC or a SA Private Company Absa form 5635 • Declaration to Confirm Address Absa 3874 EX (only applicable to Individuals) • Posted traffic fine from a Metro police department (E-toll statements are not accepted) • Medical aid statement or policy document (Policy number must be visible on the document) (Bankmed

accepted) • Signed letter from an independent auditor/accountant on their company letterhead confirming

physical / trading / operational address. • Point of delivery couriers e.g. UTI & DHL • IDX Statements • Tax Certificates • A third party report provided by an acceptable third party data service provider

Maintenance Change in country of residence

Individuals Only• Client has immigrated and

resides in another country other than South Africa.

Change in country of residence

• Fully Completed Amendment FormIndividuals • A valid proof of address refer to the change in address documents that may be used as proof of

address

Maintenance- Identity Number or Passport Number Change

Individuals Only• Client’s passport expired and

upon renewal the passport number changes to a new number

• Client has changed gender and their ID number has been changes

Change in passport number/ ID number

• Fully Completed Amendment FormIndividuals• A certified copy of the client’s identity document/ smart card as a primary means of identification if

this is not available due to the ID being lost or stolen the following documents can be used:• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document

Maintenance- Power of Attorney

Client has appointed an individual with authority to act on his/her account

Change in related party

Fully Completed Amendment FormIndividuals• A certified copy of the client’s identity document/ smart card as a primary means of identification if

this is not available due to the ID being lost or stolen the following documents can be used:• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document • A valid proof of address refer to the change in address documents that may be used as proof of

address

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents


Additional Investment


Addition Client wishes to place more money into his existing investment

Additions to an Investment

Additions Form Individuals

IndividualsThese documents are only required if the information on the addition form differs to what LISP has on record:Wealth Banking ClientsGroup Introductory Certificate – not older than 12 monthsNon-Wealth Banking Clients• A verified copy of the client’s identity document/ smart card as a primary means of identification if this is not

available due to the ID being lost or stolen the following documents can be used:• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document; • A valid proof of address refer to the change in address documents that may be used as proof of address

Full Repurchase Instruction*Requirements only applies if the adviser did not sign the declaration on the instruction


Full Repurchase • Client Retires• Client gets divorced and as

part of the Divorce Order the investments need to be split

• Client reaches Retirement age and Above - 100 % with-drawal

• Retirement prior to retire-ment age


Full Repurchase

Repurchase Formls

IndividualsThese documents are only required if the information on the repurchase form differs to what LISP has on record:Wealth Banking ClientsWealth Banking ClientsGroup Introductory Certificate – not older than 12 monthsNon-Wealth Banking Clients• A verified copy of the client’s identity document/ smart card as a primary means of identification if this is not

available due to the ID being lost or stolen the following documents can be used:• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document;• A valid proof of address refer to the change in address documents that may be used as proof of address

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents




Individuals• Client gets married and her surname changes.• Client gets divorced and wishes to change her

surname back to her maiden name• Client applies to home affairs to have his/her

first name changed

Entities• Company decides to change its name with CIPC

Change in name


Wealth Banking ClientsGroup Introductory Certificate – not older than 12 monthsNon-Wealth Banking ClientsIndividualsMarriage CertificateDivorce CertificateDrivers license with “new” surnameConfirmation from the Department of Home Affairs (letter etc.)

EntitiesCoR 15.1 – Notice of amendment. Name change certificateCM9 – Certificate if name change

Maintenance Residential / Operating Address Change (Existing Client)

Individuals• Client has moved from his existing house to

a new house

Entities• Client has moved his/her business premises

Change in address


Wealth Banking ClientsGroup Introductory Certificate – not older than 12 monthsNon-Wealth Banking ClientsIndividuals & EntitiesAnyone of the documents listed as an acceptable/approved form of address this must be in the Individual/ Entities Name:

• company/institution premises • Official university/ technikon /college or tertiary institution registration letter • Physical Site visit conducted for Verification Purposes Confirmation for example Absa 3121 EX • Tribal authority letter confirming residential address/business address • Affidavit to Confirm Address for example Absa 3122 EX (only applicable to Individuals)• Confirmation of Business Address for a CC or a SA Private Company Absa form 5635 • Declaration to Confirm Address Absa 3874 EX (only applicable to Individuals) • Posted traffic fine from a Metro police department (E-toll statements are not accepted) • Medical aid statement or policy document (Policy number must be visible on the document)

(Bankmed accepted) • Signed letter from an independent auditor/accountant on their company letterhead confirming

physical / trading / operational address. • Point of delivery couriers e.g. UTI & DHL • IDX Statements • Tax Certificates • A third party report provided by an acceptable third party data service provider

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Maintenance Nationality Change

Individuals Only

• Client has immigrated and become a citizen of another country other than South Africa.

Change in Nationality

Fully Completed Amendment FormWealth Banking Clients• Group Introductory Certificate – not older than 12 monthsNon-Wealth Banking ClientsIndividuals • A verified copy of the client’s identity document/ smart card as a primary means of

identification if this is not available due to the ID being lost or stolen the following documents can be used:

• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document


• Individuals Only• Client has immigrated and resides in another

country other than South Africa.


Fully Completed Amendment FormWealth Banking Clients• Group Introductory Certificate – not older than 12 monthsNon-Wealth Banking ClientsIndividuals • A valid proof of address refer to the change in address documents that may be used as

proof of address


• Individuals Only• Client’s passport expired and upon

renewal the passport number changes to a new number



Fully Completed Amendment FormWealth Banking Clients• A certified copy of the client’s identity document/ smart card as a primary means of


• Valid Passport or • Valid Driver’s license or • Valid Temporary identity document


Client has appointed an individual with authority to act on his/her account



Wealth Banking ClientsGroup Introductory Certificate – not older than 12 monthsNon-Wealth Banking ClientsIndividuals• A certified copy of the client’s identity document/ smart card as a primary means of


• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document • A valid proof of address refer to the change in address documents that may be used as proof of

address

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

Direct Client InstructionsAdditional Investment


Addition • Client wishes to place more money into his existing investment

Additions to an Investment

Additions Form Individuals

Individuals• These documents are only required if the information on the addition form differs to what LISP has on record:• Original certified copy of the client’s identity document/ smart card as a primary means of identification if this is not

available due to the ID being lost or stolen the following documents can be used:• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document; • A valid proof of address refer to the change in address documents that may be used as proof of address

*Posted or hand delivered to AIMS

Full Repurchase


Full Repurchase • Client Retires• Client gets divorced and as

part of the Divorce Order the investments need to be split

• Client reaches Retirement age and Above - 100 % withdrawal

• Retirement prior to retirement age


Full Repurchase

Repurchase Form

Individuals• These documents are only required if the information on the repurchase form differs to what LISP has on record:• Original certified copy of the client’s identity document/ smart card as a primary means of identification if this is not

available due to the ID being lost or stolen the following documents can be used:• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document;• A valid proof of address refer to the change in address documents that may be used as proof of address

*Posted or hand delivered to AIMS

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents




Individuals• Client gets married and her

surname changes.• Client gets divorced and

wishes to change her surname back to her maiden name

• Client applies to home affairs to have his/her first name changed

EntitiesCompany decides to change its name with CIPC

Change in name


Individuals• Marriage Certificate• Divorce Certificate• Driver’s license with “new” surname• Confirmation from the Department of Home Affairs (letter etc.)

Entities• CoR 15.1 – Notice of amendment. Name change certificate• CM9 – Certificate if name change*Posted or hand delivered to AIMS

Maintenance Residential / Operating Ad-dress Change (Existing Client)

IndividualsClient has moved from his existing house to a new house

EntitiesClient has moved his/her business premises

Change in address


Individuals & EntitiesAnyone of the documents listed as an acceptable/approved form of address this must be in the Individual/ Entities Name: • Utility bill (municipal water & lights account or Property Managing Agent statement) • Bank statement from another Bank on an official Bank document/form • Letter from Municipality confirming residential address/business address• Municipal councilors letter • Recent lease or rental agreement • Municipal rates & taxes invoice • Account statement from a NCR registered service provider (NCR number must be visible/recorded on the

document) • Security service providers registered with PSIRA e.g. Chubb, ADT (PSIRA number must be visible /recorded

on the document) • Telephone or cellular telephone account • Official SARS document (Not E Filing documentation) • Valid television license renewal letter • Television license renewal/confirmation letter • Subscription TV (e.g. Multichoice) statement • Home loan statement from another financial institution • Long/short term insurance policy documents from another Financial Services Provider (FSB number must

be visible/recorded on the document) • Motor vehicle registration/license documents • Body corporate/governing body letter or statement;

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

• Body corporate/governing body letter or statement; • Official employer letter for employees resident on company/institution premises • Official university/ technikon /college or tertiary institution registration letter • Physical Site visit conducted for Verification Purposes Confirmation for example Absa 3121 EX • Tribal authority letter confirming residential address/business address • Affidavit to Confirm Address for example Absa 3122 EX (only applicable to Individuals)• Confirmation of Business Address for a CC or a SA Private Company Absa form 5635 • Declaration to Confirm Address Absa 3874 EX (only applicable to Individuals) • Posted traffic fine from a Metro police department (E-toll statements are not accepted) • Medical aid statement or policy document (Policy number must be visible on the document)

(Bankmed accepted) • Signed letter from an independent auditor/accountant on their company letterhead confirming physical /

trading / operational address. • Point of delivery couriers e.g. UTI & DHL • IDX Statements • Tax Certificates • A third party report provided by an acceptable third party data service provider • *Posted or hand delivered to AIMS

Maintenance Nationality Change

Individuals Only

Client has immigrated and become a citizen of another country other than South Africa.

Change in Nationality


Individuals • Original certified copy of the client’s identity document/ smart card as a primary means of identification if

this is not available due to the ID being lost or stolen the following documents can be used:• Valid Passport OR • Valid Driver’s license OR • Valid Temporary identity document *Posted or hand delivered to AIMS


Individuals Only• Client has immigrated and

resides in another country other than South Africa.



Individuals • Original certified copy of valid proof of address refer to the change in address documents that may be used

as proof of address*Posted or hand delivered to AIMS


• Client’s passport expired

and upon renewal the pass-port number changes to a new number



Individuals • Original certified copy of the client’s identity document/ smart card as a primary means of identification if

this is not available due to the ID being lost or stolen the following documents can be used:

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents


• Valid Passport or • Valid Driver’s license or• Valid Temporary identity document *Posted or hand delivered to AIMS


Client has appointed an individ-ual with authority to act on his/her account



Individuals• Original certified copy of the client’s identity document/ smart card as a primary means of identification if

this is not available due to the ID being lost or stolen the following documents can be used:• Valid Passport or• Valid Driver’s license or• Valid Temporary identity document • A valid proof of address refer to the change in address documents that may be used as proof of address*Posted or hand delivered to AIMS

9. Escalation Process

AIFA, IFA, Absa Wealth & Direct Clients

AIFA & IFA

Absa Wealth Advisers

Direct Clients

Step 1Report query to 0860 000 005 or [email protected]

Step 3Escalate to your Service Relationship Manager (SRM)

Step 4Report complaint to [email protected]

Step 1Report query 086 000 005 [email protected]

Step 3Escalate to your Service Relationship Manager (SRM)

Step 1Report query to 0860 000 005 or [email protected]


Step 2Escalate the matter to the Team Leader/Managerwithin the Contact Centre




Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

10. General Information

Processing Communicationmail and messages will be distributed to the investor, adviser and consultant as per the preferred method of communication for this client, as the case progresses.Example: • Sent for processing;• Request for the outstanding requirements to be submitted;• Termination of the instruction; or• Processed.

Outstanding RequirementsSend outstanding requirements to the relevant email address with the case number in square brackets as the email subject. Example: [2018/01/17/000013579]

Termination Process

Time FrameDiscretionary Products

Day 0 – Initial Notification ✓

Day 3 – First Reminder ✓

Day 6 – Second Reminder ✓

Day 9 – Termination Notice ✓

Time FrameContractualProducts

Day 0 – Initial Notification ✓

Day 5 – First Reminder ✓

Day 10 – Second Reminder ✓

Day 15 – Termination Notice ✓

Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Contents

making absa linked investments (aims) · the making absa linked investments (aims) easy guide...

Documents