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Kenmir broaches IFA issues

FSA managing director David Kenmir and a group of IFAs will discuss the big issues facing the intermediary sector at a Money Marketing round table discussion next week.

Eight IFA firms will use the session to tell the FSA what the real problems facing their businesses are and how the regulatory framework could be changed to improve things.

In turn Kenmir will take the opportunity to tell firms what is expected from them and where he thinks they could do better.

The issues topping the IFAs&#39 problem list are expected to include professional indemnity insurance, the effect of European Union rules and over-regulation.

The discussion is likely to cover the perceived lack of trust between intermediaries and the regulator, today&#39s “blame culture” and the pace of regulatory change.

Kenmir has previously expressed his support for MM&#39s Fair deal for IFAs&#39 campaign and says the FSA wants to work with intermediaries to overcome regulatory obstacles.

The panel of IFAs will include representatives from firms of all sizes with different areas of specialism from around the country. The firms taking part are Advisory & Brokerage Services, Alan Steel Asset Management, Central Financial Planning, Chadney Bulgin, Direct Life & Pensions, Hornbuckle Mitchell Group, John Scott & Partners and Master Adviser.

CFP director Ian Smith says: “This meeting should prove to be an ideal opportunity for intermediaries and the regulator to share ideas around common problems. Through communication, we can hopefully move towards some positive solutions.”

Kenmir says: “Based on my experiences last year, I am looking forward to the excellent opportunity that this presents to hear at first hand from the industry about the issues facing them.”

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