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LIA-Sofa merger name is revealed

The closely guarded name for the planned merger between the LIA and Sofa is believed to be the Personal Finance Society.

The name was due to be revealed to a small number of LIA members at a roadshow in Limavady in County Londonderry, Northern Ireland on Tuesday.

Further roadshows will give LIA and Sofa members the opportunity to discuss the proposed merger in detail.

The meeting in Northern Ireland was due to have been attended by a panel including LIA director general Mark Ommanney, president David Batchelor, head of public affairs John Ellis, Frank Kelly and Ian Green.

LIA and Sofa members have been getting voting packs explaining the plan in detail ahead of a vote at an EGM in October.

Wells McFrederick & Co IFA Colin McFrederick, who did not disclose the name to Money Marketing, said: “The name surprised me at first. It certainly is not what people will expect. However, I feel it embodies everything that the merged organisation will stand for. I will be voting yes in October as I think it is the best thing to do.”

Whitehorse Financial IFA Mike Stannard says: “It is not particularly inventive but I think that it does the job and represents what they want to show to its members. The whole process has been a little fruitless though.”

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Talkback

“Yes, it certainly would be missed. Because of the amalgamation of all the other names into Abbey, it would be the end of an era.”Peter Wray, Polygon Financial “Yes. Some groups are getting far too big and are therefore taking away the diversity of the industry.”Bill Muncie, Acorn Financial Services (Central) “Yes. It has been […]

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