Former IFA Association director general Garry Heath is to launch a new adviser trade body, Money Marketing can reveal.
The trade body will be open to wealth managers and independent and restricted advisers, and is set to launch next month.
Heath says there is a “considerable team” behind the organisation.
He says: “We are going to fight advisers’ corner and challenge the status quo.
“We will be asking some serious questions of the regulator and the Government. We plan to get as close as we can to the consumer lobby, as in my experience adviser representation is more effective when we work with consumers.”
Heath says the trade body will initially focus on areas including the switching off of trail commission, and greater Government oversight of the FCA.
Further details of the organisation are expected at the launch next month.
Heath set up the IFA Association before it became part of what is now Apfa and was director general between 1989 and 1999.
He founded the financial services division of Bipar, the European body which represents IFAs. He has also established and sold two national financial services businesses valued at £40m.