The Investment Funds Association is to merge into the Tax Incentivised Savings Association to boost its distributor funds efforts.
The distributor funds trade body has previously worked alongside Tisa over steps to design retail distribution review compliant funds.
Tisa director general Tony Vine-Lott says: “The Investment Funds Association has already provided valuable input into our project and we thank them for that.
“We also support their decision that the best way to meet their objectives over the longer term is by working within Tisa, rather than as an independent organisation.”
He adds: “Our next steps will be to continue to interact closely with the Financial Services Authority to further clarify any outstanding gaps and concerns they may have regarding the ongoing distribution and structure of these and related products.”
According to Tisa, its new advisory council – to be chaired by Richard Freeman,chief of Intrinsic – will look at strategic implications of distributor funds.
Investment Funds Association deputy chairman Anthony Harding says: “We share a common vision of a distributor funds sector focused on quality service and value for the client.
“It makes absolute sense to throw our weight behind Tisa to achieve that goal. This is a very positive development for the distributor funds sector which has much to offer clients and intermediary firms in the light of the retail distribution review.”