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Thread: IFA Business Opportunity

  1. #11
    Junior Member avanbiljon's Avatar
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    Just a tip before you join any Network Marketing Business in South Africa.
    Make sure that the company is legitimate and that the company is a member of the Direct Selling Association of South Africa.

    See link below for a list of current members of the DSA.
    http://www.dsasa.co.za
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  2. #12
    Junior Member avanbiljon's Avatar
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    Social Responsibility:

    The Clientèle Limited Group of companies, incorporating the IFA Division, has been independently rated as a LEVEL FOUR CONTRIBUTOR (100% Recognition Level) in 2010, in accordance with all seven variables of the General Codes of Good Practice relating to Broad Based Black Economic Empowerment. The group has pro-active strategy in place (e.g. a procurement policy), so as to continually improve on its corporate social responsibility.

    See attached BEE Certificate.
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  3. #13
    Junior Member avanbiljon's Avatar
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    Invitation:

    Welcome to the IFA Business Opportunity
    The Greatest Opportunity in the History of South Africa!

    Make your booking today and see how IFA can change your life.
    http://www.ifa-businessopportunity.y...om/booking.php
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  4. #14
    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by Blurock View Post
    Looks like the insurance industry is now entering the MLM business...
    AFAIK the first in SA was Balltron, so it's not a new concept.

    What has given me pause for thought here was this discussion about how the Consumer Protection Act affects the MLM business. Given that you have to be registered in terms of the Financial Advisory and Intermediary Services Act, 2002 to sell financial services products, navigating the CPA for an MLM business that sells financial services products seems tricky if the prospect is not registered in terms of FAIS.

  5. #15
    Diamond Member Blurock's Avatar
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    Quote Originally Posted by Dave A View Post
    What has given me pause for thought here was this discussion about how the Consumer Protection Act affects the MLM business. Given that you have to be registered in terms of the Financial Advisory and Intermediary Services Act, 2002 to sell financial services products, navigating the CPA for an MLM business that sells financial services products seems tricky if the prospect is not registered in terms of FAIS.
    I will be very weary of buying insurance products from a family member or acquaintance that is not FAIS compliant or registered with the FSB.
    Excellence is not a skill; its an attitude...

  6. #16
    Site Caretaker Dave A's Avatar
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    Well that's kinda the point I'm trying to make.

    Perhaps I'm not putting this very well, but essentially it seems to be a problem meeting the requirements of both FAIS and CPA in an MLM setup - because the only role the typical IFA can play is to introduce the prospect to a qualified financial advisor.

  7. #17
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    Didn't think that insurance company would ever employ the pyramid scheme method to sell their product. According to this post you bring people to presentation where they will give their details so they will keep on receiving emails, sms-es and phone calls all the time and get to sign for a Clientele policy. These presentations seem to me like a marketing tool but there is no financial advice, so why would you buy a policy, just because they selling it? I wonder what the FSB has to say about this way of selling a financial product such as that when legislation keeps on changing to clean up all the part time advisers, compolsory RE exams, compolsory education and etc in order to regulate the industry as much as possible. Never mind the fact that the client will make an UNinformed decision but because of the way you market the products people that recruit people for the presentations will obviously say anything to sell itso they can make money which is not in the interest of the other person. The way I see it you are contravening the CPA and FAIS acts as well as other pieces of legislation. Please correct me if I'm wrong. I'd love to hear what the FSB has to say about this matter.
    ---There is no traffic at the extra mile---

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  9. #18
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    This is the best business opportunity in SA, laziness and ignorance holds back most of the people from opportunities of success. IFA is registered with DASA, FSB and SARS - and every year I submit IFA IRP5 with my return.

    Below is the link for presentation venues:

    http://www.ifa.co.za/page/events

    E. MAdlanga - IFA NO: AA142511

  10. #19
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    Hi Andre

    Maybe your assistance will be valuable, I have joined IFA about 5yrs ago only to find out the person I have joined from is no more, due to to my commitments I don't have much time to make a follow up but deductions are made from the policy in monthly basis. The policy name is IFA Saver and protector , please assist if you can as I am in need of my savings.

    Regards,

    Mike

  11. #20
    Diamond Member Blurock's Avatar
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    Quote Originally Posted by College Ins View Post
    I have joined IFA about 5yrs ago only to find out the person I have joined from is no more, due to to my commitments I don't have much time to make a follow up but deductions are made from the policy in monthly basis.
    Not much difference between MLM and a pyramid scheme as proven by those who have been caught out.
    Excellence is not a skill; its an attitude...

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