They say the collective term for IFAs is a whinge. Well, good. Right now, it is a talent the industry needs.
A quick review of the MM letters page shows IFAs are not averse to complaining. But when it comes to regulation, constructive opinion and direction are often lacking.
Early this year, for the first stage of the polarisation review, Supply Media contributed to a free guide full of help for any IFA wanting to put their views across. We received over 300 enquiries.
But the proof of the pudding was not quite so encouraging. Only a dozen IFAs and companies responded to the FSA.
No doubt, their submissions were clear, constructive, logical and well-researched. Each would have been read with interest and contributed to the final outcome. The problem was simple. Not enough IFAs bothered to take part.
When we are up against the relatively well funded voices of the ABI, the British Bankers' Association and others, the collective weight of IFA responses is vital.
There is no need for fancy words and convoluted arguments. Respond simply to the questions with logic and constructive comments. Some of the most effective submissions are just half-a-dozen pages long. On its own, your response may not change the world but it will help.
The Power Broker tips and advice of the polarisation review guide are still relevant to the Sandler Review. You can get a copy by emailing firstname.lastname@example.org.UK Whether a network, big IFA or single-person practice, the choice is yours. Collectively whinge or constructively contribute. You have until the end of September to make up your mind.