Portfolio Insurance Consultancy and Mortgage Broker principal Brian Lentz was told that he would not be considered for the job because it was the stated policy of the Aifa board that the chief executive should not be an IFA.The post – replacing outgoing Aifa director-general Paul Smee who leaves next week after five years in the job – is offering a six-figure salary.If a suitable candidate is not found or cannot start before Smee leaves, director of policy Fay Goddard is expected to act as an interim director general.The letter to Lentz says: “It is very important that all our members should feel equally served by our chief executive and, although I am sure that there are many practitioners who would be able to be entirely even-handed, we believe it would prove a real barrier for some of the membership.”Smee says: “I have nothing to do with the selection process. I am unaware of who has applied for the job. There can only be one successful candidate. Obviously, it is very disappointing for those who are unsuccessful.”Michael Philips IFA Michael Both says: “You would not have a lawyer being told that he could not run the Law Society because he could not be trusted to be even-handed. If this is a policy for Aifa, then I find it very shocking and disturbing and have to wonder where it came from.”
The FSA has launched a blistering attack on the way that banks incentivise their sales forces to sell volumes of products without suitable advice.
IFAs must avoid misselling by making clients fully aware of the risks in investing in the new Schroder recovery fund, says manager Ben Whitmore.
Zurich’s decision to offer advisers equity participation in a multi-tie business it plans to launch in the New Year has refocused attention on ways of incentivising intermediaries.
Old Mutual has its sights on a UK life insurer as it looks to spend a 1bn war chest to build its market share.
Ken Rayner and Graham O¹Neill from RSM explain why they rate the fund, its investment process and how it can be used in a portfolio The Artemis US Select Fund became a RSM ‘rated’ fund earlier this year. In this video, Ken Rayner and Graham O’Neill explain the fund’s investment approach, why they rate it, […]
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