Cardy gauges support for IFA trade body
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Former IFA Gill Cardy is moving forward with plans to set up an IFA-only trade body by gauging opinion on whether advisers would be prepared to fund such an organisation.
She has set up the IFA Centre website to register support for an independent adviser body. The IFA Centre name has also been registered at Companies House. If enough IFAs register their support, membership fees will be £195 a year for individual IFAs and will range from £135 to £195 per member for corporate members, depending on the number of approved persons.
Former Professional Partnerships principal Cardy was linked with talks to set up an IFA trade body in August after Aifa announced it is extending its membership to restricted advisers.
Cardy says the IFA Centre will work to ensure the fair and proportionate regulation of the IFA sector.
She says: “Having got some anecdotal evidence that there would be an interest in having a new organisation that focuses entirely on IFAs, one of the primary objectives is to check that there is a real commitment out there.
“Now is the most critical time to talk about independent advice and why it is worth fighting for. Independence is a business model that I think is achievable for a lot of IFAs.”
Philippa Gee Wealth Management managing director Philippa Gee says: “I hold Gill Cardy in the highest regard but for me there would have to something considerably different to trade bodies that have gone before to make me want to consider it.”
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