Recruiting drive for Adviser Alliance
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Recently formed IFA lobby group Adviser Alliance is fully operational and accepting members.
Prospective members will be required to pay a £100 registration fee and an annual fee of £150. Membership is only open to individual independent advisers.
In October, Highclere Financial Services partner Alan Lakey launched the not-for-profit org-anisation to lobby politicians and regulators on behalf of IFAs. GDC Associates partner Derek Gair, Williams Farrall Woodward partner Steve Farrall and Lakey are unpaid directors.
Lakey says the Adviser Alliance website is live and IFAs can get information on the body’s main lobbying efforts and aims.
He says the initial focus will be on the RDR and the introduction of an adviser long stop.
He says commission should not be banned under the RDR. Instead, the FSA should enforce a commission cap and ensure that advisers are giving good quality, relevant advice.
Lakey says higher qualifications are to be encouraged but advisers should not be forced to gain QCF level four qualifications in areas where they do not operate.
He says: “Utilising existing adviser experience allied to continuous professional development and a requirement to take examinations for specific areas of advice would enable the vast majority of existing advisers to remain in the industry.”
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Readers' comments (5)
Anonymous | 2 Dec 2009 1:49 pm
Anyone got the website details?
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Bob Donaldson | 2 Dec 2009 5:53 pm
Whilst I admire the idea of a lobby group, I don't feel that you can win anything anyway. The politicians and bodies set up by them simply don't want to listen.
On all the major issues we have hardly won one concession. Look at all the lobbying of Gary Heath, Dennis Brown, Chris Cummings etc etc. Name me a victory that is worth shouting about!
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Anonymous | 3 Dec 2009 2:46 am
You'll find the Adviser Alliance website at:
Adviser Alliance
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Steven Farrall | 3 Dec 2009 9:30 am
Anon 1:49:-
http://www.adviseralliance.co.uk/
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SIMON MANSELL | 15 Dec 2009 8:50 pm
Three words from Churchill : Never Give In.
Three reasons why the Adviser Alliance is different:
1. The FSA is morally bankrupt
2. The country is financially bankrupt partly due to the FSA failure to regulate banks
3. The FSA want to destroy the only successful method of distribution and hand that distribution onto those same banks.
When you place 10,000 good advisers along with 20,000 support staff on the same dole queue as 3 million others you put their backs to a wall. They will fight back because they have nothing to lose!
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