Advice on Banking products subject to FAIS2.5 CPD
Banking products play an important role in financial planning. In particular, banking products cater to short-term investments or savings and where a client wishes to invest a lump sum in order to draw interest earned as an income.
This course is useful either as a refresher or to build core knowledge on the nature of banking products available, suitability for a client’s specific needs and the associated tax implications and what they mean for different clients.
Once you have completed this course you will be able to:
- understand which banking products are subject to FAIS.
- explain how interest is calculated on different interest-bearing products.
- understand the income tax implications in relation to the different banking products.
- conduct a needs analysis for a banking client and comply with provisions of the relevant FAIS codes of conduct.
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