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Aifa should grasp great opportunity

I was appalled at Chris Cummings’ stance over the retail distribution review. It shows that Aifa has no interest in improving the standard of the profession.

If Chris Cummings had one ounce of grey matter between his ears, he would grasp the RDR as the greatest opportunity to ensure that the people providing financial advice have the knowledge and qualification to prove their ability.

There is nothing like a qualification for focusing one’s mind. A great advan-tage accrues from professional qualifications.

People without qualifications think twice before they do something stupid in the knowledge that they could be excluded from the professional body. Come on, Chris, stop being stupid. Instead of opposing the qualifications, encourage your members to get them. The industry will never be taken seriously without professional standards.

This crazy stance proves the ineffectiveness of trade bodies. A few of the mad fringe set the agenda to the detriment of the majority.

However, until you get a trade body with a united stance, the retail end of our industry will never have an effective lobby.

You can rest assured that all changes to the RDR will be directed by the life companies which at least have a united stance. It will be a real shame if the RDR is watered down, as every other change has been.

Peter HargreavesChief executive Hargreaves Lansdown

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. Peter Hargreaves, are you a member of any trade body?

  2. The problem as I see it is some pontificating IFAs, they are their worst enemy, they snipe and they hide behind someone else when the muck hits the fan, they denigrate the honourable efforts of all others without exception.

    They are members of their own fan club and nothing else. They are a blight on the ‘profession’.

    ‘They’ are not atypical, ‘They’ are unworthy of support because ‘they’ refuse to support the collective.

    The big wheel turns.

  3. The problem as I see it is some pontificating IFAs, they are their worst enemy, they snipe and they hide behind someone else when the muck hits the fan, they denigrate the honourable efforts of all others without exception.

    They are members of their own fan club and nothing else. They are a blight on the ‘profession’.

    ‘They’ are not atypical, ‘They’ are unworthy of support because ‘they’ refuse to support the collective.

    The big wheel turns.

  4. The problem as I see it is some pontificating IFAs, they are their worst enemy, they snipe and they hide behind someone else when the muck hits the fan, they denigrate the honourable efforts of all others without exception.

    They are members of their own fan club and nothing else. They are a blight on the ‘profession’.

    ‘They’ are not atypical, ‘They’ are unworthy of support because ‘they’ refuse to support the collective.

    The big wheel turns.

  5. From his comments I can only assume that Peter Hargreaves has all the necessary qualifications.

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