Aifa is launching a strategic review of the trade body following the arrival of new director general Stephen Gay to ensure it is fit for purpose.
The former Aviva director of distribution development was announced as Chris Cummings’ successor in September and joined Aifa on December 1.
Gay’s first move has been to call for a wide-ranging review of the organisation, looking at Aifa’s purpose and its value to members. The process will see members and the Aifa council consulted on issues such as costs and who should constitute the Aifa membership.
In September Aifa said it would look at offering members a vote on whether it should allow restricted advisers to be part of the trade body, following former director general Chris Cummings’ view that such a decision should be made by members rather than the council.
The review is expected to take at least three months to complete and will include the Association of Mortgage Intermediaries and the Association of Finance Brokers.
Gay says with a new Government, a new regulator, an increasing European influence on regulation and in the run-up to the RDR, now is the right time to instigate this review.
He says: “I am here to take Aifa forward into a new regulatory and public policy environment. The organisation needs to be fit for purpose and this process will make sure that is the case.”
For a full interview with Stephen Gay see this week’s Money Marketing.