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Flight fights on for IFAs

Tory campaigner for IFA rights Howard Flight says he hopes to be battling for financial advisers long into the future.

In a message to Money Marketing readers, Flight says despite his “local difficulty”, IFAs should still vote Tory because the party stands for lower taxes and less regulation.

Flight was sacked last week as Conservative deputy chairman and special envoy to the City after hinting that the Tories’ planned cuts in public spending were only the beginning. He has been deselected by the Tory leadership from standing again for his Arundel constituency but he is fighting against the decision. Leading counsel have told him that another candidate would not be valid unless he has been deselected by his local association.

Flight has been an outspoken critic of the FSA and recently claimed there was an unspoken agenda to phase out IFAs with the increasing regulatory burden stopping advisers selling their businesses.

He was the Tories’ Treasury spokesman from 1999 to 2002 and then became Shadow Treasury Chief Secretary. He set up the Conservative City Circle which raises funds and aims to build up the Tories’ relationship with the City. He is a non-executive director at Investec Asset Management.

Flight says: “I am not dead yet. Notwithstanding this local difficulty, I still urge Money Marketing readers to vote Conservative. I deeply resent the general critical and unfair attitude of our political elite towards IFAs.”

IFA Tony Catt says: “If he goes, he will leave a massive hole. I cannot think of anyone in Westminster with his level of knowledge of our industry.”

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