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Aifa sees cash fall with shift to block fees

Aifa has suffered a loss in revenue since its restructure despite managing to retain the vast majority of its members.

It says it has had minimal fallout from its decision to admit whole of market firms last October despite the early loss of Barclays and is negotiating new contracts with firms.

But it says an increase in block memberships, with more advisers gaining free membership of the trade body by joining networks or parent organisations which pay one block fee, means there are fewer fee-paying members.

Deputy director general Fay Goddard says it is looking at ways to boost revenue such as attracting new members and a small increase in fees. She says: “We are concerned about the loss in fees through having fewer and bigger members.”

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