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IFP welcomes FSA comment on AFA

The Institute of Financial Planning has welcomed the comments from the FSA&#39s David Severn that the regulator would be happy to see the back of the AFA tier.

Speaking from the IFP&#39s annual conference in Telford, chief executive Nick Cann said the AFA concept was a ridiculous category which never would have worked in the commercial world.

Cann said: “We always thought AFA would go, it is a ridiculous category. People would either remain independent or by default become tied. Commercially, AFAs would be squeezed out. The focus solely on fee-based being a good thing was wrong.”

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Chelsea launches new step rate bond

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IFAs warn they could drop A&L loan over procuration

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