Aifa has announced plans to change its name from the Association of Independent Financial Advisers to the Association of Professional Financial Advisers.
It follows the trade body’s decision last July to open up its membership to restricted advisers.
The proposed name change will be put to a member vote at the trade body’s annual general meeting on 13 November.
Aifa chairman John Gummer says: “Many advisers will continue to use the independent label that is well recognised and valued by consumers. However, we also expect many firms to opt for a restricted proposition. It is right we continue to represent the interests of all these professional advisers.”
Aifa policy director Chris Hannant (pictured) says: “This change of name reflects our continuing commitment to the principle that professional advisers should act for the benefit of their clients. This is the principle we will continue to champion with government, regulators and consumers.”