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Come and see us first, urge IFAs

IFAs are urging Ron Sandler to visit them in person before making any assumptions about their role in the market.

Advisers say if Sandler wants to get a true understanding of the industry, he must go beyond industry groups and talk to the individuals at the ground level who are advising consumers.

Sandler has been accused of potentially misinterpreting the industry and advisers say it is up to their fellow IFAs to educate the review team about the realities of the IFA marketplace.

Aifa director general Paul Smee says: “We hope that he recognises the degree of change that is already under way in this dynamic market and works with the grain of that change rather than trying to reverse it. We hope to convince him that evolution rather than revolution will best serve an orderly market and the interests of consumers.”

Wentworth Rose managing director Philip Rose says: “It is a myth that if you issue a 50-page consultation document IFAs will respond to it because these are small businesses that do not have the time. I urge Ron Sandler to get out and visit IFA firms and listen to what they have to say.”

Syndaxi Financial Planning principal Robert Reid says: “He needs to take some advice that actually rates the merits and the demerits of the sector rather than just focus on the negative aspects of it. He has the opportunity to make a real mess of things or he has the opportunity to make the sector more robust.”

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