The Association of Independent Financial Advisers (Aifa) is retaining its IFA focus and creating a new division for "whole of market" advisers, according to its "Scope of Membership" consultation released today.
Aifa’s council has decided the trade association should retain its name and remain exclusively for IFAs but there should be a separate branch for “whole of market” advisers called the Association of Financial Advisers (Afa). Aifa says there was a very strong feeling among IFA firms Aifa should remain primarily focused on representing and promoting independent advice, but 80% of firms were in favour of allowing “whole of market” advisers to remain members. Chris Cummings, Aifa’s director general, says: “Our members have spoken and have given us three clear messages. “First, there must ...
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