We thought it might be good to explain the concept of beneficial interest and in particular beneficial interest in a Social Marketer account as we have noticed that some of you struggle with it.
In a nutshell, Modere understand beneficial interest in a Social Marketer account as simply the benefit a person derives or may derive from the Social Marketer account. The most obvious individuals who have a beneficial interest in your Social Marketer account are your (common-law) partner/spouse or children who still live with you. However, it may extend beyond your immediate family. If you support your mother who lives elsewhere, your mother, has or may have, a beneficial interest in your Social Marketer account. And it doesn’t matter whether these beneficial interest holders earn an income.
So if there is an interest in the Social Marketer account by someone else who derives or may derive a financial benefit from the Social Marketer account, you can safely say there is beneficial interest.
Here is the entire definition you can find in our Policies and Procedures:
Beneficial Interest: a physical or legal entity is deemed to have a Beneficial Interest in a Social Marketer account if they: (1) have any direct or indirect ownership in a Social Marketer account as an individual, partner, shareholder, member, manager, beneficiary, trustee, officer, director or principal of a Social Marketer account; (2) have any actual or de facto control over a Social Marketer account; (3) receive any income directly or indirectly from a Social Marketer account (other than the receipt of income pursuant to the Compensation Plan by an Upline Social Marketer); (4) receive familial financial support from a Social Marketer account; (5) receive spousal financial support derived from a Social Marketer account; (6) are a member of the Social Marketer’s immediate household; (7) are a spouse or co-habitant; or (8) have any other similar interest in a Social Marketer account.