Merger of the Life Insurance Association and the Society of Financial Advisers will now go ahead after Sofa members this afternoon voted in favour of a single professional body.
Members of both groups will now become members of the new Personal Finance Society in January, which is designed to act as a single voice for financial advisers. According to a spokesman for Sofa, the deal was sealed with a 75.5% majority vote in favour of the body at Sofa's London EGM. That said, only 620 of its 10,000 members actually voted as it was felt most advisers supported the merger, says the spokesman. LIA members also voted with a 79% majority for the merger on Wednesday 11th October, but that count had around 3,000 votes. IFAonline
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