Formation of a new association for independent advisors
On 24 November 2010, a new association to further the interests of independent financial advisors was formed by a group of concerned independents in Johannesburg. The National Association of Independent Financial Advisors (NAIFA) as it will be known, is a section 21 company with an initial subscriber base of well known stalwarts such as Mark Galbraith, Norman Isaacs, Tracey Davenport, Abdul Carrim and Malcolm Warner, Chris van der Walt, Mike Beder, Len Goldman and Greg Meaden – all of whom have seen the industry change over the past 25 years or so. They jointly expressed a concern over the shape that the industry is being forced into now by amongst other things, regulation and poor publicity, which seems to be squeezing independent financial advisors out of the industry and marginalising consumers in the process. The consensus view was also that existing representative bodies seemed unable to effectively make the voice of the independent adviser heard.
The NAIFA would focus initially on gaining members based on the values enshrined in its articles of association – valuing and protecting individual rights and positioning IFA’s as valuable members of the financial services community and especially for the clients that they serve. The association will commence to establish regional infrastructure in a manner designed to let every individual voice be heard and spokespersons will be embarking on a road show to speak to and sign up new members from early in the new year. Interested advisers can contact Chris van der Walt (chris@isssa.co.za or 0861 comply) or Mark Galbraith (markg@galbraith.co.za or 011792 0020)”
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