Chris Cummings, director general of trade body AIFA, has met with the Economic Secretary, Kitty Ussher.
Cummings met with the new Economic Secretary in order to brief her on the main issues affecting the financial services industry.
He spoke specifically on issues affecting IFAs and mortgage brokers and their provision of high quality advice to consumers in all socio-economic groups.
Commenting on the meeting, Cummings says: “We were delighted to get such an early opportunity to brief the new Economic Secretary about the IFA sector.
"We highlighted the importance of professional advice and indicated our concerns at the impact of some of the proposed regulatory changes outlined in the FSA’s Retail Distribution Review.”
AIFA informed Ussher of the different ways in which IFAs can assist government policy.
Cummings highlighted the ability of IFAs to educate individuals about financial services and to help alleviate the current pensions crisis.
Cummings also represented AIFA’s sister organisation, the Association of Mortgage Intermediaries (AMI), and discussed issues affecting mortgage brokers including 25-year fixed rate mortgages, the regulatory agenda and the scale and value of mortgage advice.
Cummings says: “It’s encouraging that the new Economic Secretary made the time to meet with the AMI team. Members have a trade body that is heard by Government and we were keen to meet with Kitty Ussher as soon as she was in post.”
Both AIFA and AMI have promised that this will be the first of many meetings with the Economic Secretary to ensure that the needs of members are property represented in Government.
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