What's Happening?

Facebook Twitter Youtube Linkedin

NEED HELP? QUESTIONS@FIA.ORG.ZA

become A FIA member TODAY
member login

Why become an FIA Member?

If you are an advisory business in South Africa and you are not a member of the FIA, your business may be at a disadvantage:

You are operating in the unknown. To be a successful business today, you need foresight. This involves future-oriented awareness and planning, enabling your business to respond quickly to future market threats and opportunities.
You have no insight into what your competitors are doing.
You have limited access to industry experts. Knowledge sharing in the FIA is extremely valuable to members.
You don’t have a voice to represent the legitimate interests and role of advisory practices. This is your livelihood, own it.

FIA Member Benefits

FIA Online – Members Lounge (access to regulatory submissions, minutes, partner benefits)

Weekly Updates through our #Week@AGlance

Access to FIA Group Life, Disability & Accident Scheme

FIA Insight Magazine – CPD Accredited

Regulated CPD Training – Online & Face to Face

Member Meetings, webinars, networking events and more

Regulatory Updates & Guideline

Business Representation on a National and International Scale

Access to FIA Professional Indemnity Scheme

Member Community Portal

The FIA has grown to be a powerful and respected collective voice in South Africa’s intermediary industry. We want you to be part of this community-driven team and to reap the benefits of shared resources and to futureproof the ecosystem that we all operate in.

Influence happens when there are many working together, and we invite you to join our driving force.

Through teaming up with the FIA, you get to boost your business through development and education through access to independent financial advice and advocacy management. Together we can transform the intermediary market and forge a future for our industry.

The FIA’s Regulatory Achievements

Reduction in FSP Levies

Following extensive engagement by the FIA, National Treasury made proposals to reduce the levies that intermediaries will pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill (now Act). Estimated savings are between R8m – R10m per annum for the intermediary market in general.

Council for Medical Schemes (CMS) / LCBO Commission

In January 2022, the CMS announced that the demarcation exemption period has been extended for a further two years – from April 2022 to end of March 2024. This saved members approximately R110m per annum. This exemption has been further extended to 31 March 2027, and the FIA continues to engage on the working committees at the CMS dealing with the proposals relating to these products.

Non-Life FICA Project

Industry Associations successfully lobby for the Non-Life insurers and intermediaries NOT to be included as accountable institutions under the FIC Act, saving the industry R100m plus in compliance costs. The FIA and other industry associations are now working with the FIC to increase awareness of current FIC obligations.

Conduct of Financial Institutions Bill (COFI)

The FIA is currently represented on the FSCA’s CoFI Transition Working Groups and on the sub-working groups dealing with the Fit & Proper Framework, the Risk and Compliance Framework and the draft Conduct Standard on Complaints Management Requirements.

Omni-Risk Returns

The FSCA originally proposed the OMNI-CBR - Conduct of Business Returns. Following feedback from the FIA and industry, the FSCA has simplified and streamlined the return, which is now called the OMNI-Risk Return. This aims to create a single consolidated risk profile for every regulated financial institution. The FIA has developed workshops for members to assist them in understanding the amendments and the key focus areas for the FSCA.

Employment Equity Amendment Act (EEAA) and Employment Equity (EE) Regulations

Together with Business Unity South Africa, the FIA continues to lobby against disproportionate EE Regulations. These regulations will have a material impact on cost of labour and operational flexibility. Fines and penalties are detrimental to business.

What the FIA Believes

  • In the value of sound financial advice
  • That professional intermediaries add value to clients and other stakeholders (such as regulators and National Treasury)
  • That professional intermediaries stimulate healthy competition practices and improve market conduct for clients
  • That professional intermediaries play a very important role in the South African economy, as they are instrumental to economic activity and much needed job creation

Become an FIA Member Today!

If you are interested in joining our community, please submit your details to our Membership Team below to receive further information about the benefits of becoming an FIA Member, as well as a Membership Proposal. 

Who qualifies for membership?

Licensed FSPs as per the provisions of the FAIS Act and who derives income from providing advice and / or intermediary services.

Subscriber Terms and Conditions

  1. APPLICATION OF TERMS
    • These terms and conditions (“Subscriber Terms”) apply to the subscription by any qualifying member of the South African Underwriting Managers Association NPC (“SAUMA”) to the services and benefits offered by FIA Services (Pty) Ltd (“FIA Services”) under the SAUMA affiliation arrangement (“Subscription”).

  2. NATURE OF SUBSCRIPTION
    • A Subscription under this arrangement:
      • does not constitute membership of FIA NPC;
      • does not confer any voting rights or governance participation in FIA NPC; and
      • is governed solely by the contractual relationship between the Subscriber and FIA Services.

  1. ELIGIBILITY
    • To qualify for the Subscription, the applicant must, at the time of application, be a current paid-up member of SAUMA.
    • FIA Services will verify the applicant’s SAUMA membership status with SAUMA prior to activation, and may re-verify such status periodically.
    • If a Subscriber ceases to be a paid-up member of SAUMA, the Subscription will correspondingly be terminated.
    • Applicants are required to authorise FIA Services to confirm their SAUMA membership status with SAUMA as part of the application process.

  1. SERVICES
    • The Subscription entitles the Subscriber to the following benefits:
      • Complimentary access to the FIA CPD Platform;
      • Complimentary access to the FIA Insight Magazine (digital edition);
      • Advertising opportunities on FIA platforms at a discounted rate of 15% (fifteen percent) off the prevailing published rates; and
      • Invitations to attend FIA Technical Webinars annually.
    • FIA Services reserves the right to update, vary or substitute the Services from time to time, provided that the overall value and nature of the benefits remain materially the same.

  1. FEES AND PAYMENT
    • The monthly subscription fee is R260.00 (two hundred and sixty rand) for up to seven registered individuals (Key Individuals and Representatives), and R36.00 (thirty-six rand) per additional registered individual thereafter, excluding VAT.
    • The Subscriber shall provide FIA Services with the required details of each individual to be registered under the Subscription for the purposes of activation and billing.
    • All fees are exclusive of VAT, which shall be charged at the prevailing statutory rate.
    • Subscription fees are reviewed annually in March and may be adjusted with effect from 1 April.
    • Any changes to the Subscription, including but not limited to the number of Representatives and Key Individuals registered under the Subscription, may only be effected once annually during the annual review period in March of each year, with such changes taking effect from 1 April.
    • Subscription fees shall be billed monthly in arrears, unless the Subscriber elects an annual billing cycle at the time of application.
    • The Subscriber shall ensure that all billing information (including contact details, authorised signatories and bank account details) is kept accurate and up to date.
    • Non-payment of subscription fees may result in suspension of access to the Services until such fees are brought up to date.
    • The Subscriber acknowledges and agrees that all subscription fees payable under these Subscriber Terms may be collected by way of debit order, which shall be processed by the holding company, FIA NPC (The Financial Intermediary Association of South Africa), on behalf of FIA Services. Payment to FIA NPC shall be deemed to constitute valid and sufficient discharge of the Subscriber’s payment obligations to FIA Services under these Subscriber Terms.

  1. ONBOARDING
    • Onboarding will be conducted as a Subscription with FIA Services under the SAUMA affiliation arrangement.
    • Onboarding will not confer FIA NPC membership status or any associated rights.
    • Onboarding is conditional on confirmation of the Subscriber’s current SAUMA membership at the time of application

  1. DATA PROTECTION
    • FIA Services will process all personal information in accordance with the Protection of Personal Information Act 4 of 2013 (POPIA) as set out in our POPIA policies.
    • By subscribing, the Subscriber authorises FIA Services to confirm their SAUMA membership status with SAUMA and to process personal information for the purposes of fulfilling the Subscription.

  1. TERMINATION
    • The Subscriber may terminate the Subscription by giving FIA Services one calendar month’s written notice.
    • FIA Services may terminate the Subscription on one calendar month’s written notice, or immediately if the Subscriber breaches these Subscriber Terms and fails to remedy such breach within 14 (fourteen) days of receiving written notice.
    • Termination of the SAUMA–FIA Services affiliation agreement shall not automatically terminate these Subscriber Terms.
    • Termination by the Subscriber shall not relieve the Subscriber of liability for any subscription fees accrued up to the effective date of termination.
    • FIA Services may suspend or terminate the Subscription with immediate effect in the event of non-payment of fees by the Subscriber.

  1. GENERAL
    • These Subscriber Terms are governed by the laws of the Republic of South Africa.
    • Any disputes arising under these Subscriber Terms shall be dealt with in accordance with the dispute resolution provisions contained in the FIA NPC membership terms and conditions, as modified to reflect that the contractual relationship is with FIA Services.
    • Any notices required under these Subscriber Terms may be validly delivered by email to the addresses provided in the Subscriber’s application form, and such notices shall be deemed received on the day of transmission if sent during business hours.
    • The Subscriber may not assign, cede or transfer any of its rights or obligations under these Subscriber Terms without the prior written consent of FIA Services.
    • No variation of these Subscriber Terms shall be of any force or effect unless reduced to writing and signed by both FIA Services and the Subscriber.