As part of its investment portfolio, Khwezi Trade offers its clients a rand-based trading solution, in which the investment stays in South Africa in a segregated, locally regulated Standard Bank account. This ensures increased protection of the investment and allows clients immediate access to their funds in rands should they need them. It also provides enhanced transparency and easy tracking.
"The segregated account keeps client funds separate from company funds ensuring they are used only for the client's dealings and not company business," Sean Coetzee, owner and founder of Khwezi Trade and Khwezi Financial Services, says.
The segregated account is regulated by the Financial Services Board's (FSB) legislative requirements. Local regulation by the FSB Ombudsman ensures the client has safeguards, as well as easy access to recourse should there be a query or complaint.
Client investment processes and compliance with the FSB legislative requirements are audited annually by Standard Bank's statutory auditors and by Khwezi Trade's independent auditors. Khwezi Trade is also fully compliant with Moonstone Compliance (Pty) Ltd, provider of compliance services to independent financial advisory practices, and has monthly reviews with its compliance officer.
A further advantage of local investment is that it eliminates time-consuming, costly international transfers. "It can be a protracted and expensive exercise to transfer money to an offshore trading account and then return the money back to a South African account when the client would like to realise profits made by trading," Coetzee explains.
Local trading circumvents lengthy admin processes and there is no need to deal with the foreign exchange departments of different banking institutions. Furthermore the client does not need to use his SARS currency allowance and is not exposed to ZAR currency swings.
Khwezi Trade has a Category Two Licence which allows it to hold client investments in a segregated account, manage client funds and make decisions on their behalf.
"The Category Two Licence covers the full range of asset management services we offer. It enables asset managers to tailor-make a unique portfolio to suit the individual requirements of each client," says Coetzee.
Khwezi Trade's Asset Managers are all experienced professional traders, and have over 30 years experience in the financial services industry. This equips them to provide professional market analyses and make informed decisions.
