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Advisers angry after Aifa rules out IFA applicants for top job

IFAs are demanding answers from their trade body after an applicant for the job of Aifa chief executive was turned down because he was an IFA.

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.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Well that has proved to be a great decision hasn’t it!!

    RIP AIFA……

  2. How grotesquely stupid.

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