I almost wrote in a similar vein last week when I read of Towry law’s decision to leave Aifa. The thrust of my letter was that one voice is needed to negotiate on the IFAs’ behalf.
Low and behold, I am now told that “secret meetings” have taken place between like-minded “fee-only” advisers debating such important issues as the future of the industry and whether a separate body to Aifa is necessary.
When will this industry learn? Until the advent of Aifa, we had been represented by a plethora of organisations dating back to the 1970s without any of these achieving the stature and acumen of Aifa.
Such an organisation cannot be all things to all IFAs but it has a strong voice which is listened to.
I am saddened that Towry Law, especially, appears to be driving a commission v fees agenda to a respective “them and us” situation. Clients, generally, are unconcerned how much commission is earned. The people who really care are providers, as the ABI ongoing dialogue proves. We need to speak out collectively and now. Back Aifa.