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PCO / Financial Advice & Insurance Practice Protection
Financial Advice & Insurance · Practice Protection · South Africa

Financial Advice & Insurance Practice protection when the principal cannot give instructions.

For financial-advice and insurance firms where key-individual oversight, authorised representatives, advice records and provider access may depend on one person.

Start the free Financial Advice & Insurance assessmentView Diagnostic pricing
The practical problem

Trusted people are not the same as tested authority.

PCO looks at what must keep working when the normal decision-maker is unexpectedly unavailable and unable to give instructions — who steps in, what they may do, which systems they can use, what limits apply and what still depends on a professional, provider or formal approval.

Practice structures

The Diagnostic changes with the way the practice is structured.

01 · Structure

Owner-adviser / key individual

One person carries advice, oversight and operating dependencies.

02 · Structure

Advisory / brokerage partnership

Several advisers or key individuals share clients and responsibilities.

03 · Structure

FSP / brokerage firm

Representatives, supervision, compliance and provider platforms create broader interfaces.

Profession-specific focus

What PCO would examine in a financial advice & insurance practice.

Key-individual cover
Representative status
Supervision
Client advice records
Provider portals
Compliance escalation
Premium / commission processes
Client servicing
Questions that matter

The Diagnostic tests the operating reality, not just whether a document exists.

Examples from the Financial Advice & Insurance pathway:

01If the key individual becomes unexpectedly unavailable and cannot give instructions, who can lawfully perform the oversight functions that cannot simply be handed to an administrator?
02Which representatives can continue servicing which clients, and where do supervision or competence limits apply?
03Can authorised users enter insurer / investment-provider platforms through their own credentials and appropriate permissions?
04Who sees replacement-business, complaint, advice-record or compliance issues that were previously escalated only to the principal?
05Can client servicing continue without accidentally turning an administrative handover into unapproved financial advice?
Practice Protection Diagnostic fees

Three structures. A defined entry price for each.

The Diagnostic price reflects the amount of work normally created by the profession and structure. Guided Protection Review and Practice Protection Plan fees are scoped only after the Diagnostic.

Owner-adviser / key individual
R7,500
excl. VAT · standard published scope

Profession-specific Practice Protection Diagnostic for this structure.

Advisory / brokerage partnership
R10,500
excl. VAT · standard published scope

Profession-specific Practice Protection Diagnostic for this structure.

FSP / brokerage firm
R12,500
excl. VAT · standard published scope

Profession-specific Practice Protection Diagnostic for this structure.

Standard published scope: one legal entity and an ordinary small-to-medium professional practice. Multi-entity groups, more than 10 professionals, or more than two operating locations / branches are confirmed by PCO before payment.
The full Diagnostic

Twelve protection areas have to work together.

01Decision responsibilityWho normally decides, who can step in, and where decisions must escalate.
02Professional eligibilityRegistration, scope, competence, supervision or other eligibility required for regulated work.
03Client / patient / matter handoverWhat is live, urgent, incomplete or at risk if the principal stops giving instructions.
04Records & information custodyWho may see records, what must stay confidential, and how access is controlled.
05Systems & authenticationNamed-user access, portals, MFA, recovery routes and single-person credential dependencies.
06Money & payment limitsBanking, payroll, suppliers, refunds, client money where relevant, approval limits and backups.
07Contracts, mandates & approvalsWho may instruct, approve, sign, vary, renew or escalate commitments.
08Providers & third partiesBanks, SARS, regulators, laboratories, insurers, vendors and other external dependencies.
09Deadlines & renewalsFilings, court dates, project milestones, licence renewals, audits and client promises.
10Staff & operating coordinationWhat managers and staff may do, where their limits sit, and what cannot be casually delegated.
11Escalation & prohibited actionsWhat must not be done without the principal or required professional/provider approval.
12Evidence, testing & reviewWhat proves the arrangement exists, who accepted the role, and whether access and fallbacks were tested.
How it works

From free indication to a controlled plan.

01Free AssessmentFive profession-specific questions and a mini report.
02Practice Protection DiagnosticPCO tests the full 12-area pathway and produces findings.
03Guided Protection ReviewResponsibilities, limits, evidence and fallbacks are worked through.
04PPP + NEXUSApproved arrangements become a managed Practice Protection Plan.
Important boundary: neither the free assessment nor the Diagnostic verifies that a POA, bank mandate, professional registration, provider permission, system entitlement or other arrangement is legally or operationally effective merely because the client says it exists. PCO identifies and tests the dependency; the relevant adviser, institution, regulator or provider confirms what only they can confirm.
Two useful starting questions

Would the practice know what to do tomorrow?

01If the key individual becomes unexpectedly unavailable and cannot give instructions, who can lawfully perform the oversight functions that cannot simply be handed to an administrator?
02Which representatives can continue servicing which clients, and where do supervision or competence limits apply?
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