Towry Law quits AIFA following RDR row

His firm has now quit the trade body, saying it can no longer support and be aligned with an association it “fundamentally disagrees with”. Fisher cites the association’s position on commission and professional qualifications as the main irreconcilable differences. “AIFA are seeking proof on whether commissions cause a sales bias,” Fisher says. “But that is like asking whether we need gravity to walk.” AIFA's bias toward “one-man-band” IFA firms is also holding back vital revitalisation of the financial advice industry, Fisher warns. He says the trade body is missing the opportunity t...