The Association for Professional Financial Advisers (APFA) is well placed to represent the industry now it has overcome the "red herring" issue of independence versus restricted, said one national director.
Peter Craddock, director of operations at national firm Perspective, said that the trade body being unable to "get off that square of independence versus restricted" prevented it from effectively representing the industry with one voice.
"It gave the impression that it represented a fragmented industry to groups it was attempting to lobby," he said.
"Now that it has effectively resolved this issue it can focus on the issues that matter such as the long stop, legislation from Europe and challenging regulation," he said.
"The industry needs serious thought leadership on these key issues and Chris Hannant [APFA's policy director] has that in my view.
"The body now looks as though it has the right inroads into the regulator, the treasury and Europe. It can begin to use the industry's collective power to influence policy.
"If the industry is serious about influencing and effecting change with key decision makers, it must do so collectively."
Perspective, which is made up of 60% independent and 40% whole-of-market advisers, recently joined APFA.
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