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ASSOCIATIONS & INSTITUTES

Financial Intermediaries Association of Southern Africa

The Financial Intermediaries Association of Southern Africa (FIA) came about with the merging of SAFSIA and the IBC and has been in effective operation from 1^st January 2008.

Both SAFSIA and the IBC had been in operation for more than 27 years and each association had a rich history of representing financial services intermediaries.

The members of the FIA act on behalf of over 80% of all consumers and businesses who purchase short term insurance, over 60% of all life assurance and collective investments transactions, 80% of employee benefits business and a substantial proportion of the medical cover in South Africa.

In July 2008, LUASA (the Association of Professional Financial Planners) merged with the FIA.

Industry role

The FIA has clearly defined its role as being to champion the interests of consumers who require short term insurance, investment and financial planning, medical cover and retirement benefits.

The FIA will do this by representing the vast majority of financial planners and insurance brokers in the country. This will involve the implementation of a code of conduct and ethics, the establishment of technical, educational, advice and professional practice standards, and the upholding of these standards through such important establishments as the Financial Planning Institute and the Insurance Institute.

In doing this, the FIA will interact with the State’s authorities and regulators (such as Parliament’s Portfolio Committee on Finance, the Financial Services Board, National Treasury, Department of Social Welfare and Pensions, the Department of Health and the FAIS Ombud).

A further priority of the FIA will be to act for both consumers and intermediaries in dealings with the life assurers, short term insurers, health care companies, Investment houses and all unit trust and linked product companies and other institutions that supply financial products and services.

The FIA has committed itself to continued collaboration with other intermediary associations and will continue to pursue the vision of a ‘one voice’ structure for the whole industry through which matters of common interest can be channelled when negotiating with the authorities and product supplier associations.

Company Press Releases » FIA expresses dismay at draft Health Insurance demarcation regulations 02 May 12 | Read More » The Financial Intermediaries Association of Southern Africa (FIA) has expressed dismay over the draft Demarcation regulations proposed by the Treasury highlighting the fact that by putting an end to various types of health insurance plans (both short-term and long-term) ... Intermediaries gear up for annual industry awards 24 Apr 12 | Read More »         Brian van Flymen President of the FIA             One of the most anticipated and prestigious events of the financial services industry’s calendar, the Financial Intermediaries ... Many financial intermediaries yet to pass regulatory exams 17 Apr 12 | Read More » Intermediaries who fail to do so place theirs and others careers at risk   Latest statistics from the Financial Services Board (FSB) reveal that a shocking 51,34% of key individuals and 61,53% of representatives are yet to pass the Regulatory Exams. With just ... FSB regulatory exams deadline not to be extended again warns FIA 12 Apr 12 | Read More » Joe Kotzé, National Manager: Compliance at the Financial Intermediaries Association of Southern Africa (FIA)   With the Financial Services Board’s (FSB) announcement that there will be no further extension to the 30th June 2012 deadline for all South ... FIA hosts Annual World Federation of Insurance Intermediaries World Council meeting 29 Mar 12 | Read More » Guidelines for insurance intermediaries being standardised across global markets     2012 World Federation of Insurance Intermediaries World Council   A key theme that emerged from the annual World Federation of Insurance Intermediaries (WFII) World ... FIA welcomes tougher measures to protect investors 27 Mar 12 | Read More » The Financial Intermediaries Association of Southern African (FIA) welcomes the inclusion of provisions for stronger actions to protect the investments of consumers proposed in the draft Financial Services Laws General Amendment Bill, as a necessary step towards enhancing ... Professional advice crucial for comprehensive cover 22 Mar 12 | Read More » The huge growth in the number of short term insurance products available to consumers has made choosing a provider a more confusing and difficult decision than ever before. As a result, the sheer number of options, coupled with a lack of bespoke financial advice, could ... FAIS Regulatory Exams – The Realities 07 Mar 12 | Read More » Joe Kotzé, National Manager: Compliance at the Financial Intermediaries Association of Southern Africa (FIA) The financial services industry has always been a vibrant and dynamic environment where resilience amongst its members is often tested to the ... Consumers urged not to fall into trap of in-house insurance policies with bonded properties 28 Feb 12 | Read More » When new homeowners purchase their property it is a requirement to have appropriate insurance in place to protect the lender’s investment should extensive damage be caused to the asset. However, a number of lenders are increasingly using this requirement to push their ... FIA urges consumers to use R9.5 billion tax reduction wisely 23 Feb 12 | Read More » The proposed personal income tax relief of R9. 5 billion in the budget announcement is a welcome financial aid for all South African consumers. However, it is crucial that consumers use this additional benefit to improve their current financial situation and achieve their ...

Company Careers »

FIA Regional Coordinator: Northern Regions, KZN/FS and Western Cape

07 Mar 12