Adviser bodies should take on member regulation - Axa

The provider says allowing adviser bodies, such as the Association of Independent Financial Advisers (AIFA), to disbar members who violate codes of ethics would raise consumer confidence in financial advice. It says it would complement proposals in the RDR to require advisers wishing to call themselves ‘independent’ to achieve more qualifications. The comments precede Axa’s RDR response, due in December. Steve Folkard, head of pensions and savings policy at Axa, tells IFAonline: “There’s a lack of consumer confidence and trust. We have to establish credibility. Advisers are missing ...