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Advisers urged to unite behind Apfa after IFA Centre closure

Advisers have been urged to unite behind Apfa following the closure of trade body IFA Centre.

IFA Centre managing director Gill Cardy announced last week the organisation is to cease operating as a trade body after failing to secure enough members.

Former Professional Partnerships principal Cardy set up IFA Centre in September 2011 purely for independent advisers. It had 238 individual members across 102 firms. 

Cardy says this was not enough to provide the financial resources, nor the negotiating clout, to represent members’ interests.

SimplyBiz joint managing director Matt Timmins says advisers do not help themselves by creating “fragmented alternatives” to Apfa and must get behind the trade body to ensure effective representation.

He says: “IFA Centre helped galvanise independent advisers to seek representation and I hope we use this momentum to get behind Apfa and mould it into a united trade body.”

Personal Finance Society president David Ingram says: “We now have just one trade body and we need to make sure we do not lose it. While Apfa is not perfect we can move it in the right direction by supporting it and via constructive criticism.”

Former IFA Association director general Garry Heath says: “IFA Centre members need to transfer allegiance and membership to Apfa immediately.”

Yellowtail Financial Planning managing director Dennis Hall says: “There is only so much funding available and we need to get as many advisers as possible behind one trade body, rather than diluting our presence with multiple organisations.”

IFA Centre will still operate as a not-for-profit body. 

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