The Institute of Financial Planning (IFP) is "on track" to at least break even in 2014 and is hopeful of a small surplus, despite the challenge presented by a regulatory crackdown on inducements.
Chief executive Steve Gazzard said the professional body is having a positive year after posting a "disappointing" £17,600 deficit in 2013 - its first loss in four years. Though final guidance on inducements published by the Financial Conduct Authority (FCA) in January related to payments between providers and advisory firms, organisations such as the IFP - which put on annual conferences and host a programme of events - have sought to clarify their position. Speaking during a ‘strategy update' in London, Gazzard said the IFP had welcomed 66 net new members so far in 2014, taking its ...
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