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ABI rejects “anti-IFA” allegations

The ABI has vehemently rejected the accusation that it has become anti-advice and anti-IFA claiming its members view the adviser channel as an essential part of future growth.

Speaking for the first time as the new chairman of the ABI, Archie Kane says he understands and sympathises with the huge concerns currently being expressed by many in the IFA community about the retail distribution review.

But Kane says Aifa is wrong to say the ABI has become anti-IFA in its approach to the RDR and suggests the majority of its members will continue to support and rely heavily on IFAs going forward.

He says: “We would not agree with Aifa at all on that allegation. The IFA channel is still dominant in the UK and it would be totally inappropriate to say the ABI is anything other than interested and supportive of how the distribution channel develops. IFAs are very important to us.”

He says advisers have proved in the past their ability to respond to change and develop new ways of supplying customer needs and will continue to do so post-RDR.

Kane says pension reform, regulation, customer confidence and climate change are the other top priorities at the start of his two year term as chairman and that his members can “hold their heads high” over the way they responded to the recent flooding.

Read the full interview in next week’s Money Marketing.


Cammidge drops the ball

The Diary would like to congratulate Aegon head of business media Adrian Cammidge for royally embarrassing himself in front of everyone last week.Surrounded by a number of drunken PRs and journalists, the former Money Marketing news editor was explaining why it was in everyone’s best interest that he held the rugby ball the group had […]

Top names come together to draw up manifesto for advice

Aifa has set up a taskforce comprising some of the biggest industry names to produce a “manifesto for advice” for launch later this year.Aifa says the Future of Advice Taskforce aims to develop a clear statement on the role and value of advice and set out where the profession delivers tangible economic and social value […]

Trusts and Taxations

Take a look at the trusts and trustee taxation video – The definition and classification of trusts. Once you’ve viewed the boxset, visit our Test Centre to test your learning and get your CPD certificate. View here


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