AIFA and CII under fire in adviser letters to MP

Laura Miller
clock

Mark Garnier MP says ill-feeling towards AIFA and the CII is "widespread" in the letters he receives from IFAs, who say the bodies either fail to represent or listen to their members.

Garnier, a vocal member of the influential House of Commons Treasury Select Committee (TSC), says he is prepared to haul AIFA back in front of MPs to answer allegations it is only interested in serving larger advice firms. As one of the MPs pushing for more Parliamentary scrutiny of the RDR , the member for Wyre Forest says he receives hundreds of letters from IFAs unhappy with the industry's two biggest member organisations. AIFA is a particular target for vitriol, he says, with many IFAs accusing it of neglecting the concerns of smaller practices. He says: "There is a lot of il...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read