Recently formed IFA lobby group Adviser Alliance is fully operational and accepting members.
Prospective members will be required to pay a £100 registration fee and an annual fee of £150. Membership is only open to individual independent advisers.
In October, Highclere Financial Services partner Alan Lakey launched the not-for-profit org-anisation to lobby politicians and regulators on behalf of IFAs. GDC Associates partner Derek Gair, Williams Farrall Woodward partner Steve Farrall and Lakey are unpaid directors.
Lakey says the Adviser Alliance website is live and IFAs can get information on the body’s main lobbying efforts and aims.
He says the initial focus will be on the RDR and the introduction of an adviser long stop.
He says commission should not be banned under the RDR. Instead, the FSA should enforce a commission cap and ensure that advisers are giving good quality, relevant advice.
Lakey says higher qualifications are to be encouraged but advisers should not be forced to gain QCF level four qualifications in areas where they do not operate.
He says: “Utilising existing adviser experience allied to continuous professional development and a requirement to take examinations for specific areas of advice would enable the vast majority of existing advisers to remain in the industry.”