More than 150 advisers have already expressed an interest in joining the group, which will initially focus on the retail distribution review and the introduction of an adviser long stop, this week’s Money Marketing reveals.
GDC Associates partner Derek Gair, Williams Farrall Woodward partner Steve Farrall and Lakey will be unpaid directors.
Lakey says: “We will deal with the issues Aifa does not want to touch. I think Aifa does a good job but occasionally there is a need to take a more confrontational approach.
“There will be a registration fee of £100 and an annual fee of £150. Membership is only open to individual independent advisers.”
Lakey, former chairman of the IFA Defence Union, quit in September after conflict with founder and former chairman Evan Owen over the group’s direction.