Financial intermediaries to engage society and government via Business Unity South Africa

FIA president, Arnold van der Linde

As part of its efforts to be an active social partner in South Africa, the Financial Intermediaries Association of Southern Africa (FIA) has joined Business Unity South Africa (BUSA).

The FIA represents more than 16000 financial services intermediaries (also known as brokers or advisors) across Southern Africa, while BUSA is the “voice” of business, representing the interests of chambers of commerce and industry, as well as professional and corporate associations at the highest levels in the country.

“The FIA is well represented within the financial services industry, but many of the issues facing the Association, its members and their clients are also of relevance to broader business and society,” says FIA president, Arnold van der Linde. “We believe that BUSA offers a broader stage for us to participate in debates that affect South African businesses and consumers.”

Financial intermediaries interface daily with thousands of South Africans and Van der Linde says the organisation will bring a unique perspective to the issues discussed at BUSA. “Our members include large brokerages as well as small and individual intermediaries who provide valuable financial advice across a range of areas including healthcare, short-term insurance, employee benefits and financial planning,” he says. “They also operate at a personal level with consumers across a range of income groups and geographical regions.”

Van der Linde says that frequently, regulatory amendments which affect intermediaries operating in South Africa also impact on the broader consumer and business communities. The FIA will play its role through BUSA by participating in forums and discussions around changes affecting its members through this broader society platform.

“Intermediaries play an important role in educating and empowering consumers to take control of their financial affairs, so it’s important that we are afforded the opportunity to comment on any new developments that could impact on our members and their clients,” says van der Linde.

BUSA represents business’ interest at a range of forums and has strategic lobbying structures in place. It is an influential organisation that enables business to provide input into economic, social, trade and transformation policies.

“We’re looking forward to the opportunities for engagement that BUSA opens up to us,” says van der Linde.