A document can disclose everything and explain nothing.
Financial information is not useful merely because it was technically disclosed. You need a reasonable opportunity to understand its meaning for the decision in front of you.
So ask for plain language, a rand example and a comparison with your current position. Terms such as “capital guarantee”, “liquid”, “low risk” or “tax efficient” need their limits explained. A disclosure buried in a long document can still require discussion if it is important to the recommendation.
Understanding does not require mastering every technical calculation. You should be able to describe the purpose, cost, main risk, access and consequence of changing or leaving. Where language, disability or format creates a barrier, ask what reasonable support is available.
Try this now
After an explanation, complete: “I am agreeing to ___; it costs ___; the main risk is ___; I can access or change it when ___.” Ask the advisor to correct the summary.
Useful requests include:
- “Show me that clause in the governing document.”
- “Please give me the amount in rand.”
- “What happens in a less favourable case?”
Plain language is not the removal of nuance. It is nuance expressed clearly enough to support an informed choice.