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Aifa hits 7,000 as the LNA joins up

The Large Networks&#39 Association is set to become a special interest group

within the new single trade body for IFAs.

The LNA will continue to represent its members&#39 interests but will be

operating under the auspices of the Association of IFAs.

Last week, it emerged that the board of the IFA Association were recommending the winding up of the IFAA and recommending that its 2,600 members move into Aifa.

IFAA members will vote on the winding-up proposals at an extraordinary

general meeting which has been provisionally set for August 31.

Aifa says that the IFAA&#39s standing committees, such as the stakeholder

pens ions committee, will continue to operate.

But it says it cannot guarantee that the membership will remain the same,

as other parties, such as the IFA networks will have to be represented.

Aifa will also adopt the regional structure of the IFAA, with regional

chairmen, in a bid to ensure that small IFAs have a clear line of

communication to the board.

Elections to the Aifa council will be via an electoral college system,

with networks voting for the network positions, large intermediaries for

the large intermediary seats and small IFAs for their representatives.

The first elections are set to take place towards the end of the year.

Aifa says it has a membership of 7,000 registered individuals.

It is understood that an announcement will be made imminently about Aifa

taking permanent premises in the City of London.

Project manager Richard Knox-Johnston says: “The LNA has moved into the

new association. It becomes a group within the new organisation. I am doing

a great deal of research at the moment on what representation will look

like. It is quite a challenge.”


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