AIFA

AIFA has hit out against proposed FSA levies as ‘poor value for IFAs' because it says they bear no link to real-life risks posed by advisers.

Hector Sants' replacement at the FSA needs to better balance consumer protection and interests with care for those working in the industry, the Association of IFAs (AIFA) says.

The Association of IFAs (AIFA) will step up its fight against the financial ombudsman (FOS) over its rule of charging advisers a fee even when they are cleared of any wrongdoing.

John Gummer, Conservative MP and chairman of AIFA, is to step down from his Parliamentary role at the next General Election.

Independent advice firms could be forced to offer restricted services unless the FSA scales back its definition for retail investment products in the RDR, the Association of IFAs (AIFA) says.

The FSA's protection proposals under the Retail Distribution Review (RDR) have been applauded, but with a few points to clarify.

"Current RDR proposals appear to support the old model of advice and penalise firms like mine."

Proposals to include advisers' qualifications alongside their company and disciplinary details on the FSA Register have been welcomed by the Association of IFAs (AIFA).

Independent financial advisers are the most trusted practitioners in financial services, ahead of building societies, investment companies and life insurers, a study concludes.

The FSA says it will not extend its remuneration code for banks to practitioners in other sectors, such as independent financial advisers.