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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.


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