3rd Party Investment Manager
Easily manage accounts online
3PIM is an online system that enables you to invest your clients' money into a number of investment accounts.
What this is
An easy investment manager
3rd Party Investment Manager (3PIM) is an online system that allows you as an FNB client to open, manage, close and invest your clients' money into a number of investment accounts.
What 3PIM offers your business
- An online solution to open, manage and close 3rd party accounts on your clients' behalf
- Online access to all accounts through your FNB Online Banking Enterprise™ solution, paired with full functionality to manage your clients' details therein
- A range of investment products are available to choose from based on your clients' requirements
- The benefit of a negotiated call account interest rate; based on the total balances in your portfolio
- The option to charge a management fee for the administration of your clients' funds
- Automated online generation and archiving of statements
- The ability for attorneys to create Letters of Undertaking (LoUs) in real time to issue cash-backed property guarantees
Is this for you?
An efficient, convenient system
The 3PIM solution will work for you if
- You manage entrusted money as part of your business
- You need to manage multiple investment accounts on behalf of your clients
- You are an attorney, property manager, estate agent or financial services provider
- You are registered as an accountable institution in terms of the FIC Act
- You require an online solution to manage your clients' money
Manage online, in real time
3PIMs offers unique benefits
- No additional software or logins are required, as the system is integrated into FNB's existing Online Banking Enterprise™ solution
- It requires no input, or assistance, from an FNB bank representative to implement or use.
- Built in segregation of duties to ensure greater internal security and efficiencies
- Various account types can be opened online, in real time and managed separately
- Funds carry no market risk as capital and quoted returns are fully guaranteed
- Benefit from a negotiated Call Account interest rate; based on the total balances in your portfolio
- Accurate tax reporting to SARS through eFiling
- Ability to make use of multiple 3PIM structures, which is ideal for businesses that have regional offices
Find a suitable solution
The following accounts are available to be opened on 3PIM
Money on Call
The ability to add money at any time. Negotiated interest rates.
7 Day Notice
Offers access to money after 7 days notice. Interest rates are tiered based on the amount invested.
32 Day Interest Plus
Offers access to money after 32 days notice. Interest rates are tiered based on the amount invested.
Invest from 7 days to 60 months. Additional deposits are allowed at maturity.
Ensure the flow of funds
As an attorney, 3PIM offers various benefits
- The system offers a structure specifically built to ensure funds always flow through your section 78(1) Trust Account
- Option to automatically calculate and sweep net interest from the Attorney's Section 78(1) Trust Account to the Law Society
- Ability to issue, pay or cancel Letters of Undertaking (cash backed property guarantees) instantly with no FNB intervention
Letters of Undertaking (LoUs)
Verify Letters of Undertaking
- Letters of Undertaking are issued online,
- Multiple LoUs can be issued against one investment account
- Flexibility to customise your property clauses displayed on the letter
- Beneficiary alerts for issued, cancelled or expired LoUs
- Beneficiaries are able to independently verify issued LoUs online
Getting it made easy
3rd Party Investment Manager
- Proof of accountability in terms of the FIC Act (e.g.Fidelity Fund or FSB Certificate)
- Business Transactional and FNB Trust Account
- Online Banking Enterprise™
First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).