What's Happening?

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.
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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. 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. 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 has engaged in the COFI Bill Task Team meetings through Business Unity South Africa (BUSA). We are pleased to report that most of the concerns and proposals raised by the FIA were taken into consideration in the final version of the COFI Bill.

Conduct of Business Returns - Omni-CBRs

The FIA is making a detailed submission to the FSCA in this regard. Our Legal and Compliance team have spent more than 40 hours on this submission alone. The cost and volume of work required by members to complete these returns cannot be under-estimated and members will be required to report QUARTERLY to the FSCA.

Employment Equity Amendment Bill (EEAB)

Following meetings with the Department of Employment and Labour, the FIA engaged the services of Adv. Khumalo to prepare and represent the FIA in the parliamentary hearing process on the EEAB. The FIA alongside other associations have also provided input to the FSCA on our concerns with regards to the impact of non-compliance. Engagements remain ongoing.

What the FIA Believes

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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.