Masthead - Financial Advisors Association

ABOUT US

Introduction
Masthead EXCO
Masthead Financial Advisors Association Board
The History of Masthead

Masthead was launched on 10 June 2004 and began operating on 1 October of that year. Old Mutual is currently the majority shareholder but is busy negotiating the sale of significant stakes to Sanlam, Liberty Life and Metropolitan Holdings. Member brokers own 25% of Masthead through the Masthead Financial Advisors Association.

With currently more than 2 800 members, Masthead is the largest broker network in South Africa.

Masthead has the support of some of the largest financial services companies in South Africa, and distributes their products to independent brokers. Masthead believes a strong independent broker community is essential for the health of the financial services industry in South Africa. Despite the difficult environment in the South African market currently, Masthead believes there is a healthy future for independent brokers. Masthead’s mission is to help independent brokers remain in business and provide the support to help them grow their businesses.

Masthead members receive services including practice development, product marketing and advice on compliance issues.

Masthead has regional offices in Johannesburg, Cape Town, Durban, Pretoria, Bloemfontein and Port Elizabeth, plus satellite operations in outlying areas.

Through regular communication via email and DSTV we provide the necessary information to enrich our members’ businesses. Our popular National Member Days and accompanying Trade Fair also provide ample opportunity to our members to network with fellow brokers and our Product Partners, as well as raise their concerns and celebrate their successes.

Masthead EXCO


Ian Middleton Managing Director	Andre le Roux Distribution	Laurence Muller Finance	Karen Thomas Brand & Marketing

Masthead Financial Advisors Association Board

The Masthead Financial Advisors Association is a voluntary association established in order to create a forum for members to discuss and address issues and developments affecting them as independent brokers in the financial services industry. In addition, members of the Association receive a range of support services delivered through Masthead Distribution Services. This Association is run by a Board consisting of seven members with six of the board members elected from the ranks of broker members. The seventh board member is the Managing Director of Masthead Distribution Services. One of the key objectives of the Association Board is the development of a strong identity for the Association and for its members by building a unique brand. On behalf of members, the Association Board further negotiates with Masthead Distribution Services for services to be rendered by the Company to its Members. These services currently fall into three categories, namely Product Marketing, Practice Management and Regulatory Compliance. The Association has formulated a Code of Conduct against which the conduct of its members is measured.


Denzil Watt	Henry Smith	Pine Pienaar	Barend Burger

Kaleka Mahapa	Peter Dempsey	Inbin Moodley

The History of Masthead

On 10 June 2004 Old Mutual (OM) announced the creation of Masthead Distribution Services. Masthead was an initiative aimed to ensure that independent brokers would have all the security and assistance they needed to run a successful and sustainable financial practice, while remaining independent.

The Initial Concern - There had been speculation that the introduction of the Financial Advisory and Intermediary Services (FAIS) Act and the Financial Intelligence Centre Act (FICA) would mean the death of the small broker. The new company was launched to provide support & assistance to independent brokers facing these significant changes. Masthead offered these brokers a free service to handle licence applications, inspect their practices, be their compliance officer, submit annual audits and assist client complaints through an ombudsman.

Long Term Goals - While the initial concern was compliance with the new FAIS Act, the long term goal of Masthead was to help independent brokers to stay in business profitably. Masthead thus developed a range of value-add services that would help independent brokers to grow and improve their practices.