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Aifa offers bungle-busting service

Aifa is offering itself as an arbitration service between IFAs and product providers at loggerheads over administration blunders.

Its proposed new initiative is aimed at improving the relationship between IFAs and providers and comes in the wake of Money Marketing&#39s Bungle Busters which highlights cases of poor administration.

Aifa director-general Paul Smee says the MM feature showed the need for better communication between both parties. It will act as a “conductor” between IFAs and providers and is inviting both sides to list their concerns.

Aifa will not take up individual cases but will discuss policy issues on a “higher level” with providers to let them know where IFAs are experiencing problems.

Smee says: “Money Marketing&#39s Bungle Busters was a good initiative and I am sure it helped to highlight the need for this new venture.

“In an e-commerce world, there are many ways that IFAs and providers can work together to improve systems and bring down costs. Aifa can be a portal for both parties to communicate.

“IFAs and providers are welcome to get in touch with Aifa if they have concerns that we can help them with.”

The IFA Life OfficesGroup may form part ofthe new initiative.

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