To be a trusted source and preferred voice for advisors and intermediaries in South Africa.
The FIA exists to guard, develop, promote, and represent professional advisory and intermediary communities, that work together to secure a sustainable future for advisory businesses, for the benefit of clients and all stakeholders in the financial services industry.
Respect, Credibility, Professionalism, Commitment and Passion.
The FIA Board of Directors is elected by members. We operate nationally in four regions through 25 branches.
There are seven executive portfolio committees – representing life insurance, non-life insurance, financial planning, healthcare, employee benefits, transformation and investments. The additional executive committees include membership and training and education.
These committees consist of industry experts who meet quarterly to address legislative and regulatory matters governing their respective insurance disciplines, as well as any other issues or opportunities that can impact on our members.
The healthcare committee focuses on health insurance, medical scheme practice and products and related health insurance matters, mainly related to the provision of advice on funding benefits.
The committee has extensive interaction with various regulatory bodies – an especially important role considering that dual control is exercised by regulators in both the medical and financial arenas. It also liaises with administrators and risk cover providers.
The financial planning committee oversees long-term insurance, collective investment schemes, retirement funds, assistance business and related long-term investments.
Tax, retirement and estate planning and business insurance are focus areas along with basic forms of risk cover.
The employee benefits committee represents corporate and individual administrators. It also maintains close contact with retirement benefit bodies, Principal Officers and Trustees.
Interaction with the Institute of Retirement Funds and other relevant industry bodies, as well as key personnel in retirement fund administrators/insurers facilitates the promotion of common interests.
The non-life insurance committee addresses personal lines, corporate and commercial matters. The committee often works closely with the South African Insurance Association and its subsidiaries, the Insurance Institute of South Africa including the South African Crime Bureau and Fraudline.
The objective of this committee is to set professional standards for discretionary investment managers, to develop and introduce a Code of Conduct for DIM’s and to be the voice of DIM’s in South Africa.
This committee will play an integral part in the architecture of the financial services industry of the future in light of several proposals of the Retail Distribution Review which specifically focus on Investment Managers.
The Transformation Executive Committee of the FIA has been established to assist the FIA to progress its transformation plan, which is a critical part of the FIA strategy.
The objective of the Committee is to assist the FIA and its members to discharge their transformation responsibilities with respect to the goals and purposes of the following:
The committee is responsible for identifying current and future training needs of FIA members.
In order to achieve its objectives, the committee will engage, consult and collaborate with regulators and other industry and professional bodies.
The FIA has 25 branches across South Africa. The 25 branches are split into 4 regions which include Rand, Northern, Central and Coastal.
For more information regarding the branches and regions, please contact the FIA Regional Co-ordinators at firstname.lastname@example.org
January 1, 2008
The Financial Intermediaries Association of Southern Africa (FIA) was established on 1 January 2008 following a two-stage merger with the dominant intermediary representative bodies in existence in South Africa at the time.
6 Months Later
First – the South African Financial Services Intermediaries Association (SAFSIA) merged with the Independent Broker Council (IBC) to form the FIA. Second – some six months later – the Life Underwriters Association of SA (LUASA) merged into the FIA structure.
The FIA Today
The merger was the culmination of a dream for a unified voice to represent intermediary interests to all financial services stakeholders throughout South Africa.