Velocity Club

Frequently asked questions

  • What is Velocity Club?

    Velocity Club is for anyone who has financial goals and needs guidance and support in achieving them.

  • Do I need to be a big earner?

    No, we believe in helping you make what you have work for you, regardless of how much that is. Unfortunately, if you have a lot of bad debt, that limits how much we can help you.

  • What if I have a lot of bad debt?

    It's important that you focus on building a strong financial foundation and paying off your bad debt (credit card, overdraft, personal loans and retail store accounts). Once you've paid off your bad debt, all of those repayments can rather go towards saving and investing to help you achieve your goals.

  • Which financial products do you recommend?

    We only recommend products where you have any shortfalls and if you can afford them. Our most popular products are:

    • Medical aid cover
    • Investments like retirement annuities or tax-free savings products
    • Insurance products like income protection, life and funeral cover and critical illness products
    • Will drafting services

  • Where do I start?

    Schedule a Zoom call with one of our Velocity Club Relationship Consultants to chat about your goals and they'll take you through our process and answer any questions you may have.

    This consultation is for free! Usually, a session like this could cost up to R1 000.

  • What will be discussed in my first meeting?

    In your first meeting, we'll get to know you a little better, what you value and find out what your current and future financial goals are.

  • What are the costs for your services?

    You only pay a subscription fee of R199 p/m for 6 months for the Money Plan.
    Your Money Plan subscription stops after 6 months. As a client, you'll get an annual review which may include a new Money Plan depending on your life changes in the past year.

  • What happens after the 6 months subscription period?

    You're all set up, and on your way to getting financially healthy or building your wealth.

    Future support is free of charge.

  • Who will support me?

    You'll have the support of a highly qualified advice team and a personal Relationship Consultant who will answer your questions and hold you accountable to achieving your goals.

  • What if I've already used a financial planner in the past?

    That doesn't disqualify you in any way. If you have questions and need help making some financial decisions or just want to get a second opinion that you have everything sorted, schedule a call and we'll help you.

  • What makes you so confident this will work for me?

    We have an expert financial advisory team with years of experience that doesn't get paid through commission on products sold.

    Our advice is personalised and speaks to your circumstances. We have helped many clients smash their money challenges.

    86% of our clients would recommend us to their friends.

    It's important that you understand the role you also have to play in staying disciplined with your eye on the prize. We'll be there for your entire journey, encouraging you all the way.

  • How often will you check up on me?

    At least once a month during the first 6 months, but you're welcome to get in touch with your Relationship Consultant at any time if you have any questions.

  • Do you only recommend Momentum products?

    Yes. Our team of financial advisers invest time in understanding how they work so we can make the most appropriate product recommendations for you.

  • Why do you only recommend Momentum products?

    Because we work closely with Momentum, it gives us the advantage to process your admin really fast. No more waiting for your financial adviser to get hold of someone at a big financial services company to answer your question.

    It also gives us the advantage to influence the products Momentum builds so we can be of better service to you.

  • Can my partner and I join together?

    Definitely. We encourage transparency and co-planning for couples. We cater for this through our couples plan package.

    Fees:
    Money Plan subscription fee of R199 p/m x 2 PLUS a 25% discount to give you that extra motivation to tackle your financial goals as a team.

  • Are you going to consolidate my debt?

    No. The recommendations made are only on how to create disposable income so you can pay off your debt faster.

    We give personal financial advice and answer these important questions you have to understand you and your circumstances better.

    • Do I really need financial products?
    • Do I have too many or too few financial products?
    • Am I paying too much for the financial products I have?
    • Can I afford to start a family?
    • How much do I need to start saving and investing now to be okay in the future?
    • I can't seem to make sense of my budget. I don't know where my money goes.
    • I'd really like to start my own business. How do I start saving towards this goal?
    • I'm in a lot of debt - how do I get myself out of debt?
    • I'd like to retire early - can I make that happen?