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‘Aifa is defending small IFAs’

Small IFAs are scared of being “victimised” by the FSA and many feel Aifa is the only body looking out for their interests, says Kent-based RH Invest-ment Services.

Director Richard Hull says his firm has just joined Aifa after being impressed by its campaigning work on the retail distribution review.

Hull says: “The Personal Finance Society would norm-ally be the body sticking up for IFAs but because they have joined with the Chartered Insurance Institute, they have got a qualifications remit. It means that the only body that would normally stick up for us isn’t and Aifa fills that gap.”

Hull also says there are other forces at work at the core of the RDR. He says: “IFAs are scared. They are small firms and are scared of the FSA coming down on them but I think at the end of the day someone needs to say get a good body like Aifa to fight your fight.”

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