Death of a trade body? Inadequate funding risks muting adviser voice

On 8 May, the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) announced plans to create the Investment Management and Financial Advice Association (IMFA) with effect from 1 June. Under the plans WMA would "absorb" the business and membership of APFA and then change its name to IMFA.  The proposals, which are reminiscent of the Institute of Financial Planning's merger with the Chartered Institute for Securities & Investment in late 2015, look to be financially motivated. According to its annual reports, APFA's turnover, which is calc...