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Our poll finds IFA nation wants single united body

IFAs want Aifa, Sofa and the LIA to merge into one general trade body

for advisers, according to exclusive research by Money Marketing and

Virgin One on the State of the IFA Nation.

The first figures from the extensive survey of IFA opinion shows 82

per cent of IFAs would like to see the separate bodies come together

to act on behalf of all advisers.

IFAs were asked for their views on aspects of the whole industry from

business models to the Sandler review. A total of 280 IFAs were

surveyed during December.

Ironically, since the FSA announced its polarisation proposals

earlier this month, Aifa, the LIA and IFA Promotion have been working

together to tackle the plans.

IFAs also gave their seal of approval to the closer co-operation

between Aifa and IFAP, with 84 per cent supporting Advice First, the

company set up between IFAP and Aifa.

Aifa director general Paul Smee says: “We have to take this idea very

seriously and it could be contemplated but there is a difference

between professional and trade bodies. But I am sure that with

polarisation and Sandler reviews, we would not be thanked for

deviating our focus.”

Sofa managing director Dr Sandy Scott says: “We have an agreed

strategy with the CII to create a single professional body for

financial services. But you do have to distinguish between a trade

body and one concerned with raising professional standards.”

LIA public affairs director John Ellis says: “Discussions about

creating one body have been held in the past. If 82 per cent support

it, this might give the idea renewed impetus and maybe we should be

looking at it again.”

State of the IFA Nation details, p12-13 and next week&#39s issue


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