Cummings wins praise for his contribution to IFA cause
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Aifa director general Chris Cummings has won wide-ranging praise for his role in lobbying on IFAs’ behalf.
Cummings, who took over as Aifa director general in 2005, quit last week and will leave in August to become the first chief executive of TheCityUK, a new body promoting the UK financial and professional services.
Aifa chairman John Gummer will chair an appointment committee made up of members to find a successor. He says: “On behalf of all the membership, I would like to thank Chris for the contribution he has made to the intermediary profession. His skills in negotiation, representation and leadership have been a great asset to us all.
“Chris and his directors have led the profession through some of its greatest challenges. With increasing regulatory scrutiny, both domestically and from Europe, the role of a representative organisation has become ever more difficult but also ever more important.
Cummings says: “I would like to thank the councils, staff and members for all the support they have given me over the past five years. I am immensely proud of the work that Aifa, Ami and AFB do for members. From the ground-breaking FFWD online business academy to the influential Manifesto for Advice, we have tried to ensure intermediary firms are leading the way in levels of professionalism.
“We have fought hard to ensure members receive a fair deal from regulators and policymakers. Our success shows what can be achieved when the intermediary profession speaks with one voice.”
Tenet distribution and development director Keith Richards says: “Chris has made an outstanding contribution in raising the profile of IFAs and gaining unilateral respect as an effective negotiator and lobbying agent on behalf of the sector.
“Unfortunately, much of Chris’s best work has been conducted behind closed doors and he does not receive the credit he deserves. As far as a successor, although Chris has built a strong team at Aifa, he has left a big gap and it is no small challenge, although I suspect there will be no shortage of takers.”
Cicero Consulting director Iain Anderson says: “Chris will be a strong leader of TheCityUK. He knows his way around Government and policymakers and this role allows him to start to spread his wings on the international stage. Ever the diplomat, he will bring tenacity to this job.”
Adviser comments
Chris did a brilliant job for IFAs and is owed a huge debt of gratitude. He will be a hard act to follow.
Bill Taylor
Anyone who knows Chris knows how hard he works and how passionate he is about the IFA community. As the saying goes, “Not every post is the winning post” but no one has tried harder than Chris and his talented team to improve the lot of the IFA community. He is a loss to Aifa.
Peter Beaumont
As far as I can tell, Chris did his best within the limits of diplomacy to argue the IFA cause. It is all very well to say that he didn’t achieve more but a more aggressive approach might well have resulted in FSA simply slamming down
Julian Stevens
Chris Cummings is a man of very high ability and integrity who has done an excellent job in very difficult and trying circumstances. He will be sorely missed by Aifa and Ami and its members. Those who criticise should rem-ember organisations such as these have no power but try to influence those that do. So much work is done behind the scenes that cannot be made public. It would be impossible to influence if trust of confidentiality was breached.
Danny Lovey
Chris did what he could within the remit of Aifa. Like the FSA, the people are constrained by rules and by what they can and cannot do. They have a limited set of tools.
Evan Owen
Chris is a good guy but I met with him a couple of times to try and motivate him to push harder for the IFA community. Unfortunately, he believed he was dealing with honourable people at the FSA. How wrong can you be?
Rod Leonard
I wish Chris Cummings all the best luck in his new career and I watch with anticipation for his replacement. But please forget the diplomacy - it’s time to do some bloodletting of our own.
Simon Mansell
Thanks must go to Chris for all his work and effort over a very difficult time in trying to influence and educate a mass of regulators intent on only increasing their empires, pay and perks.
John Whipple
It is not an easy job trying to please everyone. Aifa needs someone who will stand up to the FSA and its statutory cohorts. When I grumble about the SRA and then compare it with the level of representation IFAs have, I feel lucky. Maybe it is time for a more campaigning approach.
Gareth Fatchett
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